The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-31

When the year opened, the Utah min
ing stock market was in the midst OF
the greatest activity it has ever known
and while the promises of December
1898. ana January, 1899, have hardly
been realized as yet, there is no deny
ing the fact that the total volume OF
business for the year 1899 has exceeded
that of any other year in the history
of this market. The first two months
of the year were marked by much ex-
element and very heavy dealings, ma
tural resuitants of violent fluctuations
and an easy money market.
BY the middle of March, however,
the intense fever of speculation had
nearly spent itself, and the general
public, as we'll as professional oper-
ators, began to study the situation
from a more conservative standpoint.
This decided change of base-for since
about October, 1898, there had been
comparatively little calmness exercised
on the part of public and operators
aiike-brought with it a far steadier
market and business settled down TO a
more conservative basis. interrupted,
however, by occasional spasms of great
speculative activity. Then the trend of
the market took the down turn, which
was only accentuated by a few notable
GACEDllOHS dtlOllS the
shares. By the middle of the year
liquidation was gaining strong Roadway
and the summer and fall months saw
it at its height, with no signs of marked
general improvement as the year
closes.
Some of the specialties in both the
speculative and investment depart
ments are receiving strong attention,
however, and the effect for good upon
the market as a whole should soon be
manifest. An average of the year S
business by months will give by far
the best returns that this market has
ever known. either in number of shares
traded in or in amount of money in
volved
The history of the Utah mining share
market for the past year has been
practically that of every other stock
market of the world, and, of course,
conditions in Utah have been largely
influenced by conditions existing at
the money centers of the east. AS
money became tighter and tighter to-
ward the close of the year in the finan-
cial centers that dominate the world,
orders from the outside grew less fire.
quent, until finally the local market
was left pretty fully in the hands of
the professional traders, who forth
with commenced a vigorous warfare
one against the other, this being all
and general Generalization. With the
coming of the new year, however, and
a readjuStment of the worlds finances
which should speedily follow. the Utah
mining stock market should enjoy a
new era Of activity, with higher range
of prices marking practically the whole
list. Utah stocks have ever had a
good name with investors and the past
record of this states dividend paying
shares has commanded the attention
and the admiration of the whole finan-
cial world. There has been less of
fraud practiced in connection with
Utah's mines and mining stocks than
has marked past dealings in like in
vestments and securities in other
states. As general rule, the opera
ton of mining propositions here has
become proverbial for honesty, con-
servatism and business sagacity, and
while there have been failures, and
some 'questionables" as well, in what
avenue of trade or commerce have
there been no wrecks?
Interest in Utah mining shares has
not been confined to the United States.
but from England, France, Germany
and even from far-off India and Aus
tralia, have come orders to local brok-
ers. England and France are now
heavily interested in the mines of this
state. some of the greatest floatations
of the past years having been largely
placed in these two European coun-
tries. The Utah mining share market
is constantly broadening and from a
comparatively weakling of but a few
years ago, it has now attained such
proportions as to have become a
mighty factor in the states finances.
Take. for instance, the daily bank
clearances. These serve as a barometer
OF trade conditions, but they would
hardly have such q healthful tone but
for the great volume of business Gre
ated by the dealings in mining secur-
tiles.
Ajax has been a heavy dealer during
the year. but more especially during
the first six months. The properties of
the company have been operated con-
tinuously, with good results. High wa
ter mark for the shares was 81. 20,
which figure was held but a few days.
Although continuous operations were
maintained during the year. Alice paid
no dividends. In November, the mill
was closed down, but some men were
left in the mines. Experiments are un-
der way with the great bodies of zinc
ore. from which good results are ex-
pected. Dealings in Anchor were very
limited. Against the company the
Daly-West commenced $500 900 tres
pass suit and the injunction issued in !
connection Herewith shut the company
out of ore bodies from which its ship |
ping ore was largely coming.
During the year, Bullion-Beck paid i
$4,000 in dividends, its payments of 10 !
cents per share monthly coming regu- |
larry until December, when a tempo
rary suspension was ordered, the mines |
having encountered another of their |
periodical lean seasons. The stock held |
around S. until the late summer /
months, when more weakness was dis |
played as the ore showing al the mines I
became somewhat less satisfactory. A /
great deal of development work is now |
under way and il will be strange if the |
reliable Bullion-B does not yet du- |
plicate its famous record as a sensa-
tional ore producer.
Ben Butler, Bunker Hill and Boston /
of promise.
Centennial Eureka recorded the
greatest stock deal of the year, the en-
tire capitalization of $4,000 shares be-
ing sold TO an eastern syndicate for
S2,lOOOOO, or $40 per share, resulting in
a reorganization under the name of the
Centennial-Eureka Mining Company of
Maine. Regular dividends of so cents
per share each were paid prior to the
closing OF the deal, causing the shares
TO sell from S35 to $55 by June. They
were very active, unusually so, in fact.
The shares of the new company are
also proving extremely attractive. I'm
der the old management, Centennial
Eureka paid a total of S2,130.00O. or
s6SO.OO0 in excess of its capitalization.
Chloride point has been one of the
sad disappointments of the year. OPEN
ing in January above $1.25, the stock
has steadily settled, with occasional
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