The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-01-20
LATEST FROM ALL THE MINES
my time in handling Cripple Creek
mines.
CE0pC.E ApTuTTP PrftTz e co

A@1'~%A&AA-s5
mines.
GEORGE ARTHUR RICE & co.
Our firm, George Arthur Rice & Co.,
has two offices in Denver, one in the
Equitable building, and also an Office
in Cripple Greek. our Denver and
Cripple Creek Offices being connected
by private wire. We employ fourteen
clerks in our Denver offices. and our
mail, averaging about thousand let
tiers daily, is delivered to US in
sacks, and it is safe to
say that every one out of ten of
these contain a check or pOst-A0ney
order for investment in Cripple Greek
stocks. We keep a broker on the floor
of the stock exchange, not only for the
transaction of business for the firm,
but also TO fill the orders of our Gus
toners, and 1 want to say that the
exchange presents a wild scene during
the call At the drop Of the gavel the
brokers are transformed from a group
Of peaceable appearing men into a
bowling mob, and for an hour pande-
monium reigns supreme. and it is
wonder how anyone knows what is go
ing on; but during the hour million
or two shares are sold, and this is re-
peated every day excepting Sundays.
The exchange has a ladies' gallery, and
y
of getting a seat the fair spectators
have to be on hand an hour or two be-
fore call time.
THE DIFFERENT EXCHANGES.
In comparing the New York ex-
change with the Denver board the En-
pice state institution is left a long ways
in the background. The san Francisco
exchange is led by the Salt Lake eX-
change, and while this is not very
complimentary to the San Francisco
board, it is saying a good deal for the
Salt Lake institution, which, ii proper
ly conducted, viii be of great value to
the mining interests OF Utah; and right
here ] want TO say that 1t is not the
investment stocks that are all the go,
but rather the speculative three and
five cent stocks, in which there is a
gamble and a chance 10 get quick &C
tion, for it is the men Of small means
rather than the millionaire who are
willing to take a flyer in mining stocks,
and an exchange makes an avenue for
the transaction of this business.
THE BROKERS OF DENVER.
"The brokers of Denver are wide
awake men, and advertise their bust
ness ali over the world; and ii is safe
to say that they receive 500 eastern
orders daily for mining stocks, and to
facilitate business one Denver firm has
had the nerve and sand to pay $4,000
for the yearly rental of a private wire
between that city and New York, and
it will doubtless expend $780, 900 more in
advertising. When Utah men get some
of this Colorado spirit and enterprise,
you viii see great times in Utah min
ing circles, especially as, Ike Colorado,
you have unlimited and ineXhaustble
mineral resources to back it up with.
WILL WORK IN PIUTE COUNTY.
Besides my other interests 1 expect
to pay considerable time this year in
the operation OF our mines in Piute
county When l came here few weeks
ago 1 expected TO use a good deal OF
money in the operation of the Sewer
property, which was recently purchased
by a London syndicate. This company,
from a financial point of view, is the
second best syndicate in London, and 1t
is a great thing for Utah that such men
are becoming interested here, for they
never do anything by halves. 1t is the
intention to begin operations as soon as
the roads can be opened, and by May
/ we shall shovel out the trail to the
mine and begin hauling in the ma
chinery for our new MILL which will be
capable of treating 200 tons of ore daily,
and at the lowest calculation it is es-
timated that the output of the mill
will average $4,000 per month.
Mr.. Rice will leave for the east in a
few days, and it is his intention to es-
tablish a branch Office for his firm at
Chicago and New York.