The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-10-06
LIQUIDATION
AND LOW PRICES
Week Closed With a Panic Mar.
rowIy Averted.
BUSINESS WAS VERY HEAVY
SALES REACHED 4ee ,2e2 SHARES
AND S495, 424.65.

The week on the mining exchange
closed yesterday with the sale of ~, 712
shares of stock for So, $50. The record
for the six days was 4ss, 292 shares and
$495, 42465-
Monday witnessed the largest days
business in a long time and with one
or two exceptions prices were fairly
steady and strong. but that condition
of affairs was not to last. Commencing
, Tuesday weakening was noticeable
and from then until yesterday prices
took such a tumble that it is a matter
for congratulation all around that a
genuine panic was averted. A slight
change for the better was apparent in
the tone of the market Friday after
noon and yesterdays trading inspired
the talent to predict that bottom had
been reached.
The chief feature Of the slump was
in the fact that the stocks receiving the
hardest blows were those that least de-
served the treatment.
Ajax, which began at $1.44, was at the
mercy of the bears right up to the
close OF business yesterday, and de-
cline of nearly A cents a share re-
suited, the closing sale having been
made at $1.14%.
Carisa opened at S1.41 and yesterday
it touched $1.19A, recovering a little at
teeth OF the declaration of its initial
dividend, strong surplus and splendid
reports from the mine.
Consolidated Mercur, with its produc-
ton of 100000 in gold per month and
its regular dividends of 1919 cents per
quarter. was hammered from $2.4S to
SIPS.
DaIy-West. that sold Monday at
$3.50, was knocked to $3.50 on Friday,
when the directors met and declared a
dividend of 40 cents a share and made
a statement concerning the condition
nj no
that was most reassuring. The result
was that il went up to $3S yesterday,
closing 10 cents under that figure.
Lower Mammoth dropped from $2.95
to $2-37 and rallied somewhat yesterday
closing at $2521z. Mammoth though
rather inactive, sold as low as S1.68 and
closed at S1.66 bid, on reports that divi-
dends were likely to be passed for some
time.
May Day which sold as high as s14s
on Monday, started down the toboggan
and was never headed until $1.17 was
reached yesterday. From there it rose
10 S1.21 and afterwards eased off and
closed at $1.1S3s.
Tesora fiuctuated and was up and
down between so cents and 40 cents
nearly all week, closing at 81 cents.
Eagle & Blue Bell dropped from 81 %
70 Sl-0e, but efforts to force it below
that failed 1t was one of the most
stable in the list during the shaking
up
Uncle Sam also received an awful
drubbing. Monday it sold as high as
I.N7A. On Thursday it touched S1.24
and thet began to recover. 1t opened
at s1.40 yesterday morning and proved
the sensation of the day. 1t rose almost
Immediately to $1.45 and then a scram-
bic among the Shorts" TO cover ensued
and the price climbed to s1.571z, closing
212 cents lower. The change of man
aRement and declaration of the second
dividend coupled with the fact that the
property is to increase its output. most
likely accounted for the advance.
Victor, Boss Tweed, Ben Butler, Tetro
and Star Consolidated weathered the
storm in good shape. while an effort to
knock Yankee was promptly headed off
by DR.. Franklin getting into the buy
ing circle.
The day and week closed on the fol-
lowing record of sales and final quo
t3ti0uS.