The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-05-13

The condition Of the mining stock
market last week was far from being
satisfactory. The week previous the
horror at the Scofeld coal mines de-
tracted and interfered materially with
business. During the past week the
slump in the price of lead had Sc
we're effect on all classes of stocks, and
investors were inclined to sell out,
rather than add to their holdings. All
the lead producers were more or less
affected. and the gold stocks were in
clined to be sluggish. It was an off
week all around. probably the worst Of
the year; but brokers look upon the
halt in prices and business as being
only temporary.
Ajax held its own around 90 cents a
share, but Bullion-Beck was one of the
| few stocks showing better tone A
new strike of ore in the south part Of
the property, in virgin ground, was the
reason for it. while developments in
the old workings show improvement.
There was no material change in
| Centennial-Eureka shares, and that
! stock held its own fairly well. The
management Of the mine keeps the
record of shipments up to over 100 tons
/ a day. There are few people who be-
| gin to realize the amount of ore
! blocked out in the property. There is
no doubt that the company could fill
! several such contracts as it has with
| the smelter trust, at any rate to fill
| the present one will be no embarrass-
ment
DAILY and DAILY West dropped off con-
! siderably. These properties suffered
badly from the bearish movement
/ brought about by the decline in lead.
| Yesterday was the date set for the sale
Of the Daisy mine under the trust deed
foreclosure proceedings, but the min
ority stockholders have succeeded in
getting a receiver appointed. A tenn
| porary restraining order was issued by
the court. SO the affairs Of the corpo-
ration will be Strengthened out through
| the medium of the new receiver. By
this plan the smaller stockholders may
be protected from a complete loss OF
their holdings.
! Generalization continues low and
| sluggish, with no stock being trans
| ferred. Grand Central shares are
| lower The legal representatives of the
Grand Central and Mammoth compan-
| les have agreed upon an exchange OF
| courtesies by which the former is al
lowed to explore its ground from the
lower levels of the Mammoth, while
| the latter company is allowed to run a
drift across certain Grand Central
territory in order to get at the ore re-
serves on the SEQ level more conven-
lently. The agreement does not affect
| the pending suit in any way. A good
many believe that If the two companies
can get together in this matter they
! will be able to effect a settlement of
the pending litigation without going to
trial. The Grand Gulch marketed a
lot Of ore a few days ago that averaged
| AZ per cent copper.
Lower Mammoth was weak and sales
light. Mammoth went off some. May
Day fiuctuated considerably and closed
| lower.
Northern Light failed to improve any,
| while Petro fell down TO the lowest
point in weeks. The company has over
$4,000 in the treasury, and if shipments
keep up as they are now a dividend
may be expected in the early part of
the summer, which, of course, will have
the tendency to shove the stock up
again.
The Swansea stocks were in fairly
good tone. Silver King held its own.
Valeo sold above 81 a. share in the
early part Of the week, but closed at
20 cents bid yesterday.
A capitulation of the weeks sales
shows the following.