The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-10-20
MINING SHARES
ON THE UP GRADE
Bears Were Routed and the Week
Closed Strong.
BUSINESS NEARLY $500, 600
NOTHING BUT GOOD REPORTS
FROM THE MINES.

The week on the mining exchange
closed with the sale of SCI, 645 shares
Of stock, that represented a value of
$4s4.252.77. Yesterdays proportion of
the total was $500 shares and ISL,
1877.
No week in the history of the ex-
change ever witnessed such sudden
and ruinous declines and never was
there a more sudden and healthy re-
action following period of depres-
sion.
The crisis was reached on Wednes-
day and another day of the awful
slaughter of values would most GER
tainly have resulted in a genuine
panic. That it was averted is due in
great measure to the threat made by
the stronger brokerage firms and
bankers that the shorts" and bears
Won d be made 20 suffer if the raid
was continued. To show that bust
ness was meant orders were placed by
members OF the banking fraternity and
leading brokers commenced buying on
personal account. The effect was
electriiy wing. The raid in one security
after another was checked and with
in twenty-four hours confidence was
restored and buying orders from the
general public far Outnumbere the
selling orders received
AHdlNlQudA COMPARISON VI RIlGcS DIS
they stood yesterday with those pre-
vaiing on Monday would mean little.
as the fluctuations have been so great
and as the & found has been gone over
quite thoroughly from day to day the
figures would be of little interest and
no value to either the operator or
general reader.
The week closed with prices general
~ not far from what they were on
Monday and the tone of the market
best of reports come from the mines
and it is a significant fact that the
bulk of the buying orders are coming
from the mining camps themselves,
where the purchasers know better than
anybody the intrinsic value of the diff
ferent shares.
The crash crowded many a weak
holder to the wall and the result has
been that the forced unloading has
shifted the securities into stronger
hands which cannot fail to strengthen
the market.
Ajax, one of the worst sufferers in
the decline, has gained slowly and
surely and at yesterdays call it sold
above the 81 mark and closed in good
form at 9S1Zc.
to $1.241z and its behavior presages a
steady advance. The mine warrants
it and the holders are cognizant of the
fact.
Consolidated Mercur has held quite
steady, considering the awful drop
which occurred in other shares, and it
now appears to better advantage than
il has for some time. Very little of it
has come out during the decline and
with its steady production of approx
mately 100000 per month and it's reg
ular dividends of S125.OeO per qu1Ater,
il seems impossible that it can be
held down.
May Day, that was ruthlessly
slaughtered during the week, is stead
lily improving with the balance of the
active list and gives every promise
of holding Its own with the advanc-
ing column. Its closing sale yesterday
was made at $1.13%.
Boss Tweed, that has never for a
moment succumbed to the bear raids.
recorded a strike Friday and from soc
jumped to SIC. Yesterday it continued
its upward flight and closed in strong
demand at $1.05.
Ben Butler has been another of the
steady stand-bys and cent or so was
the most bears could knock it down.
1t sold at the close for 19c.
Uncle Sam is also well on the road
to where its friends believe it belongs
and with the great bulk of the stock
in the hands of those who hold il as in
investment it is looked upon with
much favor. 1t rose to $1.2s% yester-
day and closed lie lower.
Tesora and Star Con. are both re-
covering nicely, while Tetro, with a
strike booked for the next few days,
was very strong yesterday.
Victor is strong and firm at soc to
6Sc and VaIeo is holding around 23c
to 25c.
Nearly all the less active shares.
with the exception of Daly-West and
Yankee Con-, are holding up well. but
these two have not advanced during
the week.
The day and week closed on the fol-
lowing record of final quotations and
sales: