The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-01-17
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uteraturde they presume 10 give expert
opinions on Tatters connected with the
handllng Of mines Of which they know
practically nothing. persUade SEINE one
TO unload break the market. and then
say to the victim: Didn't z tell YOU
These and similar practices have been
earned on 10 such an extent during the
past year that the public has entirely lost
I confidence. = Will neither buy nor sell
stocks, and as a result the professional
broker Is canfined 10 doing business with
MS kino, S-alping q few cents here and
q Ie" 0otF.rs there Discussing tic bust
Iess XestFday morning a mining operator
VINO mas long been a member Of the ex-
change. but who rarely ventures on the
iiooT 1leSe days, said;
the mining Industry is to be sauged
~ the standard set by the brokers who
ere today making the prices Of stocks, IL
VIII soon become diScTedited in the eyes
Of spectators and investors, and the
greatest difficulty viii be experienced in
getting capital TO open new mines. Last
year his state headed the list in the pro-
duction of silver. 1t showed a splendid
increase ia the output of the other metals
New mills ana smeiters were erected on
ali sides. and yet IL Is found that the
mines are being developed so rapidly that
reduction facilities are stll away behind
production, and there is no certainty that
the end Of the present year viii see the
situation entirely relieved.
This being true, it strikes me that the
brokers', instead Of cteruaily looking for
some excuse to depress some security and
bring disaster to the holder, would. for
a change. take occasion to leoK on the
bright side Of things and talk more and
write more concerning what Is being
every day accomplished in the way OF
bringing properties from a prospective to
a productive stage II they did II Is my
humble opinion that they would soon have
too much business to do TO sit around and
find fault
The stagnaut condition of the market
during the past week has left little room
for wide fluctuations. CRrisa is prac-
tically unchanged. Consolidated Mercur
has strengthened within the past two or
three days and closes with sales up to
641z cents as against 50 cents on Monday.
Century, which few days since. came
close 70 the Scent mark. has. notwith-
standing the reports that the mine and
mill were never doing so we'll been forced
down 10 80 cents.
Dalv, which marketed its first oonsign-
ment of ore from the new shaft workings
during the week, has dropped in the bid
ding from S235 to S2.10, and in tie price
asked from s. Is to S25e. fDaiy-W est, with
its January dividend paid, has sold back
Ito S34 from s34T5. the close finding it at
$50 bid and $3.50 asked. Daly-Iudge mas
fallen from $3.50 to S3.e9. with the talent
still determined to bankrupt eYeEy share
holder If possible.
Before the mill Of the Uncle Sam COM
pany went into commission the stock was
commanding . to Is cents q share but
now that the mill has been stsrted and
pronounced o. X. by its designer. the
stock is batted down to Z1&4 cents. If
big strike was reported from the mine
today the talent would likely break the
price OF the stock TO - cents tomorrow
that is the way they work
Star Consolidated was strong 1T the be-
ginning Of the week. fell off later and
then recovered again. the final sale being
made at q cents. Sacramento is 1 cent
lower than on Monday at 2Jls cents,
while New York is 4 cents higher at Is
cents. The changes in other participating
stocks have been only fractional on the
whole. and comparisons are unnecessary.
Following is the list of finsl quotations
and record OF transfers made yesterday: