The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-13
UTAH BOARD CLOSED
Members Decide to Take a Vacation
Until September.
BUYERS WERE SCARCE
LIGHT SALES THE CAUSE OF AID
JOURNMENT.
Not Likely That the Salt Lake Ex-
change Will Follow Suit-Trading
On the Exchanges Yesterday
Petro Was In Active Demand
Quotations Posted.

The Utah Mine & Stock Exchange
has closed for vacation through the
summer months. This action was ia
ken yesterday afternoon. Immediately
after the usual call, and unless the pro-
gramme is changed it will not open for
business again until Sept. 4.
In the early part of June. when the
members of the board saw business
falling off very perceptibly, a resolution
was passed to close on the 1st of July.
Right after this there was a decided
Improvement in the condition of the
market, and the action previously taken
was rescinded by an almost unanimous
vote of the members present at a call
few days before the resolution was 10
have gone into effect. Those who voted
to continue business would have gladly
favored closing the exchange at the
time set if the Salt Lake board had
done likewise. The Utah board mem
bers disliked to have it said they We're
forced to close up shop, so they lived
in hopes that business might increase
so that creditable showing could be
made to justify a continuance of the
regular calls.
During the past week business has
been unusually dull. A. T. Moon one
of the directors of the exchange, who
has just returned from the east gave
the members a little fatherly advice
yesterday. He pointed out the fact that
there are very few buyers now, and
expressed the opinion that the stocks
needed rest. He considered il was
doing the stocks more harm than good
to call them up every day and have
them quoted at such ridiculously low
prices. While many of them did not
warrant much better quotations there
are plenty of them that ought to be
quoted much higher. The matter was
discussed thoroughly and after a ses-
sion lasting over an hour the question
was put TO vote and the motion to
close was carried with few dissenting
votes
The secretary and treasurer presented
their reports, which were read to those
present. The exchange is in fairly
good condition, being entirely out of
debt, with little over $500 in the treas
ury. The exchange owns furniture of
considerable value. and the mineral ex-
hibit which was formerly kept in the
rooms of the chamber of commerce.
This exhibit alone is very valuable and
if taken to the smelters, it is said the
ores would yield 81 900 1t is not likely
the Salt Lake exchange will follow the
example of the Utah board. as several
members yesterday expressed the de-
termination 10 keep up daily calls dur
ing the summer months.
Day On the Exchanges.
Petro was the most active trader on
the Salt Lake board. Prices were about
the same as Tuesdays quotations, but
the stock closed strong. with a ten
dency to keep on going up. Northern
Light received major share of atten-
ton, but this stock was in the clutches
of the bears. The highest paid for it
was SAY. Sacramento was strong at A
cents, but only one block found a buyer.
while 100 shares of Silver King were
taken down at $43. Joe Bowers was
back in its old place at II cents, and
800 shares of Martha Washington
came down at 81 cents.
The Utah exchange closed proceed
ings for the present with sales amount
ing to a total of S275. Only four stocks
in the trading