The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-10-11
MINING STOCK EXCHANGE.
Professional Trading and KNOCK
ing" Playing Havoc With Market.


In a market which. during the greater
part of the week. was largely character
lied by professional trading. the local
mining exchange ceased operations yes
terday until tomorrow. The final calls
brought out 52,S09 shares of stock, with a
selling value of SS333.24, while the totals
for the week were 227, 493 shares and $780,
41.44
The Intrinsic value Of stocks has had
little to do with the prices made 1t has
been anything to get the commission
and when there were no genuine buying
or selling orders, the brokers banded the
stocks around among themselves at any
old price. Hardly any security, from
DaTy-West down, but has suffered more
or less from the action described, and It
is little wonder that the public is becom-
ing daily more disguised with the per-
fOrmances.
Within the past week there has been
hardly a property of merit that has es-
capped having had some senselesS and abb
sOlutely untrue statement sprung regard
ing either the financial condition of the
company owning it or the physical con-
dlttOn of the property itself. Daly-W est,
Daly-Judge, Con. Mercur, Star Consoh-
dated Butler-Liberal Century, Tetro,
Victor. Uncle Sam, Yankee-al have had
to stand the brunt of more OF less serious
knocking at the hands of the talent
which considers it good business to &c
press the price of a security many thou
sands or hundreds of thousands, if need
be, in order to cover a short at a profit.
II the mine owner protests, he is inNari-
y
think the price of your stock is too low,
why don't you get under it2'
There Is no question but that the
slumpy condition Of the eastern markets
has had some effect on the market here,
but that fact would suggest that the
home broker would try to maintain rath-
er than paralyze, the business which he
relies upon TO provide him with a liVeh-
hood, but every spectator who watches
the proceedings on change from day 20
day is forced TO the conclusion that the
great majority Of the brokers 90 into the
pit with a set determination to do
somebody or something, at any cost 70
anybody other than themselves. Where
and when it will end no one seems to
know and few seem to care.
Consolidated Mercur. which "a few days
since came within a shaving of selling at
81, has crept up during the week in the
teeth of its detractOrs from S1O6 to S1.14
and, with the Moore shines treating plant
in successful operation, il is hard to see
how the talent will be able to prevent its
further advance.
May Day. with . prospect of harmony
being restored i'm its official household. is
also showing signs of slight recovery,
while there seems to be "A determined ef-
fort to keep Star Consolidated. Butler
Liberal and Tetro down, Notwithstanding
the remarkably fine records which each
Of these companies mines Is making
Sacramento has suffered it's usual week
~ drop, but the close finds il I'M better
Uncle Sam, with work on it's new mill
progressing nicely, is not permitted to
rise much above 24C and Carisa. with
the mine in better form than 10 has been
In a year, IS held under the l5c mark with
a perslstency that would. seem 70 have
been born in personal enmity. The same
might be said of other popular stocks,
but il Is unnecessary TO enumerate
Following is the list Of final quotations
and record Of sales made at yesterday S
single regular and omen hoard calls