Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-12-19


may not be uninteresting or
i0 improbable to review the rec
ord of the transactions of the
Salt Lake Stock and Mining
Exchange; to study in the
w light of history the causes
which have produced certain
affects to gather some comfort and en-
enlargement and to determine, II pos
sble. whether the outlook is bright and
hopeful,
BANNER YEAR 1901.
The year 1901 is looked upon as the
banner year in the history of the Min
ing exchange, Early in thar year the
market began to recover from the dis
asuous slump OF the previous year
As the market strengthened speculation
Increased and orders for mining stocks
came rapidly from all parts of the
country. Many men brought to the
extent OF their capital and many others
to the limit of both capital and credit.
The climax was reached In midsummer.
Every rumor Of a strike in a mine was
enough to put the price Of stock up
beyond reason.
PRICES BEGAN TO FALL.
In the fall Of that year prices along
nearly the whole list began TO fail.
The decline was steady but sure. Many
undertook to give explanations and
various theories We're advanced. No
explanation or theories checked the in
eyltable decline, The fact Is that
many We're obliged to dispose of their
holdings when there was no market to
absorb them, and prices declined rapid
w. The low prices prevailed during
The last year, although the bottom was
not reached until the present year. For
long time the general average of
prices has been low.
CAUSES FOR DECLINE,
There are, then, several causes which
may be given to account in a measure
IVY these changes and the depressed
"ndltlon of the market. over specu-
"uon and the inevitable liquidation
nay be given as one strong cause
''Iure OF the realization of promises
A'a out by many mining prospects IL
s'0'her potent factor, The levying of
frequent ana heavy assessments added
V'ee' The general depression OF the
'"'S market In the East has undoubt-
guy mad some effect on our local mark
" 1t Is generally conceded that when
SUCKS are declining the majority of in
'"'ors are anxious to SELL and that
V"H Few Of the wlsest are ready to
'P "hen the market Is low. When
s"oAs are advancing the public Is anx-
"uS 10 buy and even at the highest
point.
HISTORY REPEATS ITSELF.
D'' "hal Of comfort and encourage
''"' Is there in the present condition!
9, said that history repeats itself.
N 'ears ago our mining stock market
.A az so low tide that the exchange
'Ou'"ed Tor the months of July and
''sus" Calls were resumed In Sem
pu' there being no business. the
NV" was prolonged. When at last
'S was regularly resumed trans
"O'S were few, small and far be-
NH, some days there were no sales
e,er recorded. On others they
seu from $3.50 TO 500. Toward
,n ''Oae OF the year 1897, marked
uss 'O'e'heht was noticed. The year
vas very prosperous. Prices adj
nn, ,gu ana sales We're numerous. Then
o"eu the period of steady decline
'unnatIng in 1900
"'H OF ENCOURAGEMENT.
hs '"y nave expressed the opinion that
mn. resent year has been the worst
p.,. y history OF the mining stock bust.
80. III this city A careful comnari.
Nil. 'ne records OF the present year
ana ''0Se OF 1900 afford much comfort
s,.s management which are ompha-
pe,,o, comparison with the low
M ~ OF six years ago.
ferr,a wa number Of shares trans
Ia ieu on the exchange in 1900 was &.
'a'ued at s2,5ss,i72.n, II is