The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-10-24

The increased interest taken OF late
in the transactions on the floor of the
mining stock exchange and the very
noticeable increase of business in the
pit of this organization, has caused
much favorable comment in business
and mining circles in this city and gen
orally throughout the state, the i'm
preston now prevailing that this will
be an active winter in the mining share
market.
1t is a good thing for Salt Lake that
so much interest is taken in local stock
transactions, and better still, for the
growing interests of the various min
ing camps of the state, and if the ac-
tivity is continued and maintained,
Utah will soon acquire the reputation
of sustaining the best and most sub
stantial mining share market to be
found on this continent
Business men who have recently Wis
tied the San Francisco board state that
this institution lacks life; that but little
business is done there. and that this IS
confined exclusively to Comstock
shares, representing mines which long
ago ceased to pay dividends, and the
future outlook for which is not tinged
with the colors of the rainbow.
How different, in comparison, is the
condition of the Salt Lake exchange,
on the floor of which gilt-edged stocks,
dividend-paying securities and solid
investment and speculative shares are
bought and sold daily with an eager
ness showing the deep interest taken
in the business in the pit by the pub
lie at large. Not one camp, but
dozen, furnish material for these heavy
transactions, and new favOrites are
coming forward by scores with urgent
and persistent demand for recognition;
and it is safe to say that never before,
in the history of mining in Utah, has
so much money been made by invest
ment in mining shares, nor has there
been such an army of investors, which
is steadily increasing in numbers, as at
the present time.
One CT the beneficial results of this
activity in mining shares is the stimu-
lating effect ii is having on the min
ing industry of the state, which is
truly the backbone, the mainstay, of
this western country, as from the buy
ing and selling of stocks it is but a
step to the organization of companies
for the purpose of developing new
ground, the opening Of new mines, and
it is safe to say that there is now
more earnest work being done in this
direction this year than ever before,
the fruits of which will be the APP
pearance on the board of the exchange
of new stocks, many of which will
spring into prominence such as has at
tended the meteor-like coming of the
joe Bowers during the past week; the
number of new favorites bidding fair in
the near future to eclipse the bright
ness of the old standbys which have
held prominent places in Utah mining
circles for many years.
The day has waned in Utah when
it is safe to sneer and scott at new min
ing enterprises. This has been done at
least once too often by more than one
stock dealer. whose bank account to-
day would have been more plethoric
had he listened more to the voice of
wisdom and common sense than to the
whisperings of prejudice, and the man
with a prominent prospect, an embry-
otto producer and a prospective diVi-
dend-payer is in a position to COM
mand the attention of men of means
or individuals who are willing to pool
their limited capital for the further
ance of mining enterprises in which
there is a fighting chance to convert
prospect into a paying proposition.
The early members of the stock ex-
change are to be congratulated upon
its growth from almost a mere nothing
into an establishment which is now re-
ceiving the support and attention of
the best men in this city and state.
They have worked hard in its upbuild-
ing and deserve credit and commenda-
ton for what they have done.