Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-02-22
VALUATION OF
MINE STOCKS.
Causes Leading Othe Awful Slump
And Reasons for Continuance
THE COMPARISON OF VALUES
IL Interesting = DaIy.wesrs Decline -
Tesora from 30 10 10 and others
About az Had.

Blk months ago the Salt Lake mining
board was the scene Of immense trading
In mining stocks. Prices were way up
and everyone was predicting stlll high
er figures for stocks, The outside in
terests trading on the exchange were
very large and every one seemed to be
buying stocks No reports other than
favorable were put into circulation
about the properties or If they were
absolute contradiction came speedily.
Mere prospects were valued at from
half a million up and no regard was
paid to those who spoke disparlngy Of
the properties and stocks.
Finally bear movement was got I'M
der way and proof OF the bulllsh stor-
les circulated was called for but was
not Forthcoming. Instead Of immense
ore bodies, mere samples could be
shown, instead Of dividends being de-
clared, assessments were levied; and
instead OF most everything that had
been promised something else was
forthcoming at the crucial moment
when q bear movement might have
been checked.
As Il result mining share figures fell
with great rapidity and stock values
were decreased enormously, Not few
traders were broke and those who could
get out without losing everything did
80 with the full determination never to
speculate again. The result Is the ex-
change board OF today
Yesterday Ajax was traded in for
27ls share or $4,000 for the mine as
compared with 6ils cents or Sl93, 800. the
high mark In January and sc or
MSS.OO0 In September last. Carisa yes
terday sold for 30 share or on basis
of slSO,OO0 for the mine as compared
with rs cents share, $4,000 for the
mine In January and 1893 or $4,000
last September.
Con, Mercur brought $500 yesterday,
ms compared with Si.7S last month and
s2,76 last September At present quota
tons the mine Is valued at $1,000, 900, as
compared with s2,7GO0OO last September.
Daly-West In September brought
$50. 30 q share or s5,OO25 500 for the mine
Yesterday s2S was asked for the stock
or on basis OF 900 for the mine.
In January $50 OH or si,5O3, 1870 was the
high mark.
Yankee Con. yesterday az s2.W was
traded In. At that figure the mine Is
valued at sl,020,0O0 as compared with
N,97b,OOO the valuation In January at
1885, Il share and with s2,bOO,OO0 In Sep
TENDER at $500 share California
brought 2SA yesterday as compared
with S2h In January and o. In Noyem-
Der. The mine valuation Ia 371,250 as
compared with s247,5O in January and
1921, 900 In November.
Such Ia the story made by the min
Ing stock market In this city during the
past six months. Now the brokers are
seeking q remedy for the present condl-
fion OF the market and notwlthstand-
Ing the fact that the confidence OF the
public Is what is needed few things are
being done 10 get II.
Correct and accurate reports OF the
condition OF the properties quoted on
the board, should be insisted on and
these reports should be had at frequent
intervals. Some record OF the devel-
opment work going on at the mines
should be kept and stability could then
be given TO stock values The market
would necessarily fluctuate ac-
cording 10 the condition OF the
various properties II such, reports
were insisted on while under present
conditions stock dealing Is a mere gam
Bile No one knows what one day may
bring forth.
Certain business men say that until
some action Is taken by the members
OF the exchange tending TO give stabll-
fty and character TO the mining share
market II is better TO keep out alto
gether.