The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-18

The active dealings in East Golden
Gate stock yesterday on the floor OF
the mining exchange, although very
gratifying as showing renewed activity
in the stock market, was in reality very
significant, as there was something
back of the movement in this stock
greater than the mere demand for a
few shares for purely speculative pur-
poses. There are several things which
go to show this, and if everything goes
according to the card it will not be
long before the public at large will hear
of one of the largest deals in Mercur
that has ever transpired in Utah.
In the pit of the mining exchange
yesterday East Golden Gate stock was
in brisk demand and 1000 shares
changed hands at SIS cents, large
portion of which was corralled by one
or two parties, and these brokers, dur
ing the afternoon, bought from 1900
to 10000 more at prices ranging from
SIS to 314, and there was an active in
curry for the stock at the close of
business hours.
The East Golden Gate, for several
months past, has been an enigma to
the mining fraternity at large, and but
very few have been on the inside as to
the manipulation of this property. In
fact, there has been so much mystery
attached to the operations of the COM
pany that the stock dropped almost out
of sight, and was quoted at a very low
figure, which has been followed by a
quiet but persistent demand and in
quiry for it that is now creating con-
siderable curiosity in mining circles.
1t is not generally known by the hold
ers OF East Golden Gate stock that the
expenses attending the prospecting of
the property of the company win q
diamond drill has so far been divided
between the company and outside par
ties; but this is a fact, and now that
it is reported that rich ore has been
disclosed by the drill, there is every
reason to believe that the object of
this combination will soon be made
public, and that the ultimate result Of
this quiet but effective work in the
prospecting of this property will be the
contamination of sale which viii in
clude the transfer of one or more of the
greatest mines of Mercur.
1t is not necessary in this article to
even hint as to what properties are to
be included in this deal if it goes
through. but it is true that it hinged on
the finding of good milling ore in the
East Golden Gate and now that such a
fine showing has been made in this
property, it is understood that the pro-
posed deal Will come to q focus within
a few days, and that then the con-
summation of a gigantic sale via be
announced.
For the past four months the air
has been full of rumors regarding the
proposed sale of big Mercur proper
ties. Experts have made thorough and
exhaustive examinations of the lead
ing mines of the camp and a great deal
of quiet work has been done that the
public has known but little about; and
in certain circles it has been whis-
pered that the representatives of heavy
syndicates who have made these ex-
aninations have recommended the con-
solidation of several of the leading
mines of the camp, together with some
of the most promising prospects. z,his
advice, it is understood. is to be acted
usson. and this at an early day, if at
all; and when this is done, Mercur
viii witness an era of activity and
prosperity that viii exceed the widest
dreams Of those who have been the
most enthusiastic regarding the future
OF this magnificent gold camp, which
is destined 20 develop into the greatest
producer of the precious metal in the
world