The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-22
Created Exciting Scenes On Sail
Lake Exchange.
TRIED TO BREAK MARKET
HOW VICE PRESIDENT OF COM
PANY FAILED.
Brokers Hurry For the Telephones,
and Orders Came In From All
Quarters-Stock Knocked Down to
81 Cents-Chase of Secretary
Jenkins-Other Sales.

There were some lively scenes during
the call of the Salt Lake Mine & Stock
Exchange yesterday morning. When
Petro was called out the brokerage firm
of Irvine & Mason were in the. pit load
ed with about 1900 shares of that stock,
which was furnished by G. G. Hail.,
vice president of the company.
1t was said yesterday that there have
been some differences between Mr.. Hall
and some of the other officers Of the
company. Mr.. Hall has complained to
some OF the other officers during the
past few days that the market price
has not been what it ought to bes and
made the announcement that if things
went along as they WERE he would
throw all his stock onto the market.
Those officials informed him that it was
a matter of perfect indifference to them
what he did with his stock, that it be-
| longed to him, and he had a perfect
right to do as he pleased with it,
When it reached the ears Of some OF
the stockholders that one of the Of
ficials of the company was unloading,
it aroused a feeling of suspicion that
something must be radically wrong.
When the bidding opened a block of
200 shares was taken down at 711s cents,
then the excitement followed. Brokers
saw what was up, and that big break
in the stock was sure to come. A rush
was made for the telephones, and in
less time than it would take to tell the
story brokers were in communication
with their clients, and orders began
pouring in from all directions. The
office of the Petro company was reach
ed, and Secretary e. z. jenkins made a.
chase out of the Auerbach block to the
exchange room with instructions from
several officers of the company, who
happened to be in at the time, to buy
in all the stock he could get.
By this time a few brokers who had
some of the stock locked up in their
iron boxes, began to get nervous, and
started to sell out. 1t was an intensely
exciting moment, and the stock fell to
81 cents. 1t was a perfect stampede,
but when Secretary jenkins appeared
on the scene brokers began to grasp
the situation clearly, and when they
saw Mr. Jenkins bid for the security
the stock turned upward again, and at
the close was onl-r a shade lower than
it was at the opening, while later in
the day it was back at the old figures,
with a strong tendency to go TO higher
figures.
Vice President Hall was in the ex-
change room, and was stationed in
position where he could readily COM
municate with his brokers.
He allowed them to shell out his Sc
curities for any price until Secretary
jenkins came. By this time, it is said,
he had unloaded more than 5000 shares,
but when Mr.. Jenkins came into view
he gave his brokers the sign to quit
and went out of the room, remarking:
II won't let those fellows have any
more of my stock
1t was claimed that Mr.. Hall had
loosened up practically all the stock
he had. 1t was stated by one who
knows the inside workings of the COM
pany that he probably retained 1,5OJ
shares of his holdings. It was a big
day for some of the brokers, and some
neat clean-ups were made.
Daly-West recorded a sale at $3.50,
while fifty shares of Grand Central ex-
changed at $685. There was a, big de-
mand for Mammoth, and sales were
made from S20S to S2.1O. Northern
Light opened at 10 cents and weakened
toward the close, when 161a was bid
for the stock.
Bunker Hill was weaker, while Joe
Bowers was at about Wednesdays fig
ures.
The total sales of the Salt Lake ex-
change were sc, 100 shares, of selling
value of $1S,3S2.12.
The Utah exchange posted the best
days business since it opened after the
summer vacation. The sales were we'll
distributed among the stocks. The
sales aggregated $1,000 shares, of
value of S5,465.25.
The quotations of the day were as