The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-05
.FEVERISH WEEK
ON STOCK EXCHANGE
Heavy Trading in Martha Wash
ingtOn Yesterday.
SOLD
$4,000 SHARES
BIGGEST WEEK IN HISTORY OF
EXCHANGE.

With 81, COO shares Of Martha Wash
ington changing hands at reduced hg-
ures, $4,000 shares being dumped on
the market through one broker. the
mining stock exchange closed a fever
ish and panicky week. Martha Wash
ingtoh has been the feature and the
enigma, and the performances of this
stock yesterday have set all the talent
guessing as to what the future may
bring forth. The stock began to go up
like a balloon the previous week, and.
continued to soar until Wednesday last I
A heavy holder threw a large block of 4
the stock on the market Wednesday
and there Was a crash, with the stock
being battered down from all sides, un-
til II cents was touched. Then fol-
lowed a reactien. The professionals |
started after the stock again and forced /
the price down. Yesterday there was
tremendous selling in quantities that I
indicated that an insider was disposlng !
of some of his stock, but it vas COB I
bled up with as much avidity as a 1
/ flock of duckIings would show for !
/ cOrnmeal. The price started at 70 4
cents, but it never got below 10 cents /
Some of the buying as well as the /
selling was said TO be for inside inter- /
ests, leaving the entire situation about /
I as easy to solve as a Chinese puzzle
All this weakness, brought about by /
j professional manipulation. IS In the /
I face of an encouraging showing at the !
mine Early in the week the station /
was cut on the 550-foot level and the I
drift is now in six feet of ores with
. several inches of it first class. The
; support has come largely from men
4 who shave kept in close touch with con-
ditions at the mine, and they predict
I early shipments viii send the price up
( again although manipulators are ready
I to take advantage of any show OF
I weakness.
A Big Week.
Last week was one of the biggest in
the history of the exchange, 70S.S 62
shares of stock. changing hands. The
selling value was $3.50, S47.04. The big
gest single day was Wednesday, when
Martha Washington took its notable
tumble from 80 cents down to II cents
! On that day 163 POI shares of stock
were sold for -$5S0S9-1z. sales at the
morning session aggregated $50, 4l4.04,
and at the afternoon session, $l24,93S.
The market for the week has been
decidedly erratic, with weakness pre-
dominating In several instances ma
nipulatiOn has been 6agrant, the price
being. sent up or down at the will of
insiders, while the general public has
burned its fingers pulling other peoples
chestnuts out of the fire This has
added to the selling tendency, and the
week closed with sOgginess general.
The panicky conditions in Wall street
and London have increased the I'M
feasiness on the local exchange, and the
week starts out with the greatest un-
certainty as TO which way the market
viii jump.
Ajax and Tesora- have shown the
most consistent strength, although the
former suffered a reaction during the
week Promising conditions on the
1,0o0-fOot level sent the stock climbing
70 S1.75 Wednesday as against Sill the
previous Saturday. There was a re-
action from this 6gure, but the stock
closed firm yesterday at S143A-
Tesora went up steadily on a strike.
It was offered Saturday at 70 cents.
During the week it started upward and
was never headed until it reached 90
cents, at which figure it sold yester-
day.
Yankee Consolidated SCARED until it
reached 1901 Wednesday. At that
point there were selling orders, under
which the price sagged to 81 There il
braCed up and moved ahead, selling
/. yesterday at $40, as compared with
S2.29 the week before. Consolidated
Mercur showed signs Of heaviness.
Closing last week at 1888 bid, the stock
sold Thursday at $3-05, and. yesterday
at $312lz
The paying in of the assessment with
which TO discharge the Judgment
against the property and start work
again, gave Joe Bowers strength. The
stock sold at rs cents the previous
. week, Jumped to 012 cents last week,
assessment paid, and then shared the
general weakness.
/ Boss Tweed was one of the few for
tunate stocks, advancing from 1872
cents to 1915 cents, Ben Butler sold
from cents up to 117s cents and sank
back to 10 cents, at which 500 shares
sold yesterday. Manhattan was active
~ traded in from cent up to 1 3-16,
and then went back to a cent again
yesterday.
DAILY sOftened from 500 to 81 90.
Lower Mammoth closed the previous
week at SAT-, Jumped 10 $3.50 on deveI-
opments on the 900-foOt level. and
dropped back yesterday to $44755.
May Day was buffeted somewhat b5
the bears, but its net loss was small.
Closing the previous week at 80 cents.
: the stock sold Tuesday at 81 cents,
2 went down Thursday to 20 cents, and
. closed firm yesterday at IS.
West Morning Glory's upward career
was OF short duration The stock closed
the previous week at 4 cents, climbed
Monday to 615 cents, and then began
= to sink On reports of water being en-
countered, although the management
later denied that the flow was serious
7 enough to interfere with present work
s ings. block of 100 shares changed
hands yesterday at cents.
1 Closing quotations at yesterday s
e session, with sales made, are as fol-
lows:
Bid; ASKED