The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-12
WEEKLY MARKET LETTER

An idea of the number of oil and min
ing enterprises of all grades which are
being f1oated throughout the country, as
well as an idea of the surplus funds that
are seeking investment, may be gathered
from the following, from one of our cor
respondents from an Iowa town containing
but one bank,-$25, 1000 has been sent out
during the past twelve months for the
purchase of such stocks and very likely,
not much of it has been returned as yet
because the majority of such enter
prises are principally in the prospect or
| undelevoped stage.
The past ten years have been ones Of
| great development in the knowledge Of
| mining and great wealth has resulted, but
| the coming ten years will be more than
equal to any twenty years of the past.
| Our most reliable engineers, owners
and mine operators, prominent tinanciers,
shrewd business men of wealth and in
vestors in general are all agreed upon the
point Of great wealth and coming pros
perity in mining. In these days the wise
| man seeks knowledge and combina ton,
particularly in enterprises which are
young.
Within the past few months greater
interest has been taken by investors in
and there are also more dividend paying
securities being offered now than there
has been up to the beginning Of the pres
ent year, both in the Oil and Mining.
The Beaumont oil boom now seems to
be getting down to business basis in
much the same manner that the California
boom did about a year since. In the
Eastern fields while there is no boom on,
there is greater activity than has been
displayed for some time, especially in
what is known as the Lima district OF
Ohio, new tracts of oil territory are con-
tlnually being opened up and the COM
panies are operating on large scale.
THE UNION OIL, GAS AND REFINING
COMPANY, whose stock has been rapid
seller for the past few weeks, at 10 cents
pr share, advanced to-day TO rs CENTS
HAS 81 WELLS, AND is OPERATING
WITH s STANDARD DRILLING RIGS,
and a few days since brought in a well
on new tract of their territory which
flows 100 barrels daily. They have added
new territory to their holdings. They
now have 10,7O0 acres of land in the Ohio
fields alone and 5000 acres in adjoining
states.
Regular dividends of 10 per cent ON
THIS investment is one of its strong at
fractions.
GIANT OIL PRODUCTION. COMPANY
Is operating in the same district produce
Ing q steady supply Of high grade oil
from Its string of Ill WELLS and is drill
Ing new ones at the rate of five to seven
each month. This is the first of this Sc
ries of stock which has been offered and
IS splendid purchase at the price of 80
cents per share.
Regular monthly dividends at the rate
Of 20 PER CENT on the investment are
being distributed from its large produc-
ton.
UNITED STATES STEEL COMPANY of
Boston. strong industrial, paying IL
per cent per annum, payable quarterly
with good indications Of some special
dividends.
A small block Of treasury shares is now
on the market for the purpose Of extend
ing the capacity Of the plant at Everett.
Mass, now selling at IS per share. Price
will advance to Sc per share April 20.
Regular quarterly dividends of per cent,
payable to all stockholders of record
April 20, 1902.
BoBTA1L MINES COMPANY. A cor
poration Differed by Minneapolis men
operating gold and copper properties in
Arizona. This stock started about four
teen months since at cents per share.
Property has been rapidly developed.
stamp mill is now completed and in
operation. Some interesting reports may
be looked for soon.
This is a first-class mining stock close
to the dividend-paying point. now selling
at rs cents per share, par value ST. Diyi-
dend payment will make this stock climb
rapidly.
PINAL MOUNTAIN COPPER COM
PANY. Composed Of large number of
prominent business men Of st. Paul and
Minneapolis. This company is still In
the preferred prospect class, and Is Of
fering it's first allotment OF treasury
stock at cents per share, par value ST.
an ,fo
are subject to advance in price without
notice. Complete information on the
above or any other stocks which you may
desire furnished upon application .s al.