The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-30
MILLION AND A HALF
FOR MINING STOCKS
Amount of June Sales on the
Exchange.
ALL RECORDS BROKEN
SOME REMARKABLE GAINS DUR
ING THE WEEK.

June, a proverbiaI1y dull month" in
mining stocks, shows this year by far
the biggest volume of transactions in
the history of the exchange. During the
month which, as far as business is. con-
cerned, closed yesterday. 1,727, $50 shares
of stock were sold Tor 81, $50 4Q2.OS This
is nearly double the business done in
May, which set new record.
The Week was not exceptionally
neaVy 30, 49, shares of stock being sold
lot S54o,I6l.2i, but il indicates that
the Wlseacres Who predicted summer
leJIdfSy weeks ago We're radically mis-
me. IN IN thelr prophecy. The figures
sven 10 not include the transactions
On tHe curo which, in some instances
nave been heavier than on many reg
ular sessions Of the exchange.
May LAY has shown the most start
mig fluctuations for the month. Closing
a month ag3 at S8l bid and SO GEMS
asked, II shot up on strikes and the
stories given out by the management
until II reached SO. While the $50 600
car OF ore was announced from day
20 gay 10 be on the way, a number of
INSIDERS managed to unload around TOP
prices. Others began TO follow, and
the car Of Gre appeared last week to
nave less than One-fourth the adver-
tISSQ value. The result was a slump to
$I.o0. Buylng orders began to develop
then, and. it was generally believed
49,
among the talent that the insiders were
getting back their stock The result
was a general strengthening. Yester-
day morning 81 65 was the ODenina
price, and the close was at 81 go
AJAX was the strongest stock on the
OodTu yesterday, selling as high as
1 S!-'0' ana closing at Sl.683s. with 1900
shares sold. One month ago it was at
SI.z3s4, and a week ago 1t was at 81. 25sl
Inc stock was beginning to sag below
the $l-ZO mark when the news of a
SJFlke began TO leak out The stock
responded instantly. The strike news
was confirmed in the usually conserva-
/ tive manner Of she mana cement and
4 the price went to 1872, dropping hack
under heavy pFOft-taking of people
VINO mad bought under S1.35. and had
/ Deen holding. Dropping to SI45 the
STOCK TOOK on fresh strength as the
! proht-taking became sOmew hat salts
/ Hed, and the extent OF the strike be-
! came better understood. 1t went TO
/ $l.75, and closed yesterday as stated.
/ Inc new strike is in practically virgin
/ ground on the Mammoth side. 1t had
( peen expected that some sixty feet
( more work would be necessary to get
+ the old COpperOpOlfs vein at depth, and
/ the drift is being pushed to catch this
ore body, which yielded such high val
/ ueS IN times past. Meanwhile work is
/ being pushed toward the Lower Nam
! moth side on the assure which devel-
: gped such ore bodies for the Lower
/ Mammoth.
The greatest substantial advance
made during the month has been in
! california, stock which has never
I Deen listed, but which has been traded
IN heavily on the curb. month ago
the stock could be bought for 80 cents
Last week it touched S1.3S. but yester-
DAY II dropped back on the taking of
profits, selling as low as SL1O. although
Sl2o was paid during the day The
boom started in Park CITY Men in the
camp who became familiar with the
conditions at the property began buy
! ing up the stock there, and then came
10 Salt Lake to pick UP more. This
gradually began to attract attention
Salt Lake investors began to look into
the property, and on the reports to buy
up the stock. Experts compared the
property to the Daly-West and the Sill
Yer King at the same stage of devotion
ment and the possibilities caused .bl1v.
ing from all sides. There has been some
scalping. but the greater part of the
buying has been by careful investors
who expect to await DEVELOPMENTS al
depth.
Lower Mammoth has been weak fol
a stock with ore reserves such as if i.
generally known to possess. A month
| ago II closed lower for the month a
S3S1, and during last week it sold a.
low as $3.50. Buying developed at thf!
point, and yesterday the stock sold VI
10 S3.l5, and closed at S3.721a. The fac
CAAe-N many itOtutIS are LlIeu OF waiting
Tor dividends is generally given as tn,
cause of the weakness
IesOra has shown cOnSidera bic activ
lty ana strength. Closing May aroun,
! "A cents, it climbed to the vicinity o
$L25 during June, but dropped back
/ closing yesterday at 961z cents. TIL
completion Of the new mill and the ex
cellent showing at the property are as
signed as the cause of the bulge
!, Yankee has not been active durin
the month, but it has shown a remark
able advance A month ago s.. p wa
/ reached, the highest point in the his
were made as high as S5.45. There wa
a sag from this figure. but yesterda
S | the lowest Offering was at $3.50. tn
, stock is becoming more and NOR
closely held. as dividends are expecte
% I within a short time after the tunnel
h Strengthened out and shipments begin
I This viii probably take three weeks c
+ a month more.
n Daly-West made a new record durin
the month, selling as high as $44. Ate
q the rush Of buying orders there was
4 reaction to $42-25, which was bid for tn
n stock yesterday, with none offered ur
f der SAB.
t La Refine, which was listed agai
p during the month, has been in deman
n around 40 cents, closing yesterday {
2 401a cents.
a Ben Butler made great gains durin
n the month, and is holding up well. clos
ing a month a go at SO cents, it shot
double that price on the news Of
s fresh strike. There was some reactio
q but yesterday bids of 1875 cents faile
to bring out any stock.
It The close Yesterday was on the 70
IN ~ "a Z fnrn