The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-01
STOCKS WERE
IN DISTRESS
Heavy Sales, But They Were at
RuinoUS Prices.
COMPARISON OF QUOTATIONS
NEARLY EVERY STOCK IN THE
LIST SUFFERED.
COMPARISON OF QUOTATIONS.

The month of November closed on
the mining stock exchange with the
transfer Of 1,S13,051 shares of stock for
Sl4o2,S20, yesterdays proportion being
As, 434 shares and S22. 337.37. The month
has been a most disastrous one
throughout and while it ended with a
feeble squirt there was nothing to in
dicate a, permanent improvement.
Various causes We're responsible for
the awful slaughter in securities. not
the least Of which was the unwarrant-
ed attacked of a nunscrupulous bear
element in the brokerage fraternity and
the ruling favOrites among investors,
concocted that they might profit by the
timidity and financial distress caused
by the ruinous depression they were
able to bring about
The indignation of the people that
was showered upon their heads coup
led with the fight made on their meth
DDS by the press, resulted in a cessation
Of the vicious tactics, but the damage
had been wrought and with the buying
Of the investing public at an end the
market has failed to recover.
The questionable tactics resorted to
in order to depress prices came at a
time when the support of the exchange
was needed the most, for the drop in
the price of silver. the reduction in the
selling price of lead and the rumors
concerning the future of copper were
enough in themselves to cause buy
ers to hesitate. 1t was then that the
market should have been supported
and the timid made TO see that dis
aster might be averted, but instead an
opposite policy was pursued and prices
went to the dogs.
Now everybody is waiting. The bears
have played their hand out, the mine
owners and smelter officials are hold
ing meetings for the purpose of ad-
justing schedules for the coming year
and when the results of their delibera-
lions are known, it is believed condi-
tiOns will assume their normal aspect
and the market and industry viii ex-
perience a healthy revival. 1t will hard
~ come before the first of the year.
but that it Will come is Just as sure
a. it is that the mines of the state
are becoming better every minute.
Ajax opened the month at soc and
closed with sales at 75c to 76Ac, though
it cut close to the 81 mark once or
twice. 1t was one of the strongest
stocks in the list, considering the fact
that no effort was made on the part
of the management to influence the
price one way or the other.
Carisa. has received shameful treat
ment. From S1.1S1& it has gone down
until yesterday. when sales were made
as low as 73c The mine produced fifty
two carloads Of ore in October and has
shipped forty-hve this month, but for
all that there is a suspicion that some
thing is wrong with the management
and that the dividend of $4,000 viii
be delayed for December, if it is not
passed altogether.
DAILY West started at little better
than SS2. rose to $34.75 and 4hen went
tumbling down the incline till it near
~ touched the S2S mark. 1t has since
been doing business at $29 to over $50,
and closed yesterday at $29 bid, $31
asked.
Con. Mercur stood on the 1st
at $50 bid, 81 asked, and during the
month sold down to 81, fiat. During
the past few days it has been gradual
" recovering lost ground and closed
yesterday at $l541s bid, with sc more
demanded.
California, which was listed early in
the month and which sold on the curb
on the LIST for Csc, was sold down to
49lhc on the 18th. 1t afterwards shot
up to sac and was again pounded down
close to SOC. It closed yesterday on a
sale at SIC.
Century that sold at $500 on the 1st
has been struggling around $2.25 for
several weeks and yesterday it was re-
leased at $40.
From BLOB May Day has fallen to
SIC and recovered to about CSC, while
Boss Tweed has moved up from SIC bid
to 74c.
Tesora has fallen from grace entirely.
On the 1st it sold for sic. on the 18th it
could be had for dc but everybody
was then confident that bottom had
been struck. Early in the week just
closed a zoe assessment was levied and
the word went out that the company
was about 100000 in debt. The next
day the stock dropped to 10c and it
closed the month at lie bid, 1194 asked,
with rebellion promised by the minority
holders.
Uncle Sam opened at about s1.05, fell
to 6Sc and closed the month on sales
at 76c.
Victor has proven a very steady
member. Opening at sc to sc it struck
low water mark at soc and since then
has ruled within a cent or two of Coo.
Star Con. has also been spared and
during the month it has ruled close
to soc. sometimes being above and
sometimes a cent or two below that
figure
Ben Butler has gone down about 1c
a share, closing the month at 15c and
151kc. while Sacramento. with its mill
burned. has fallen from 151ze bid, to
about 12c a share.
La RENE. though inactive the great
er part of the month, took on new life
when Thanksgiving day brought a
strike and from 25c it has gone well
over the soc notch, with Tetro holding
we'll above zoe during the entire
slumpy period.
Yankee got down to $3.50, but when
the word came from the management
that it must not be allowed to go be-
low "a. but very little has come out
under that figure.
With 438.544 shares and 1886 666.SZ as
the record for the week, the month of
November closed with the following
final quotations and sales.
Bid. Asked.
ETbio1 ------------------.--....Ts.......l$ 81
Ajax Ajax ......e..................,. .5614 .565s