Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-10-21
CAME BACK HOME.
Members of Tonopah Exchange. who
Affiliated with Comstock, QUIZ II.

Members NJ TOn0pah Exchange. who
Affiliated with Comstoek, Qut II.
Considerable local interest has been
manifested On local brokerage circles
during the past few days over the fight
that has been carried on between the
riyal San Francisco mining exchanges.
Concerning recent events the Chronicle
says
Members of the san Francisco and
Tonopah Mining Exchange, on Mont-
gomery street. devoted much OF yes
terday To celebrating Victory over
their pival exchange. the san Fran
cisco Stock and Exchange Board stu.
ated ON Pine street The past few days
have been eyentful in the history OF
these organizations The stock and
exchange board has been making Her
culean efforts to absorb the Tonopah
Exchange and put il out Of business
az an entity The Tonopah Exchange
has been struggling for very existence
and has won.
When the Tonopah district was first
exploited the san Francisco Stock and
Exchange Board rec sed TO list it's
properties claiming that they were
largely fictitious. and that those that
did exist were greatly oyeroapitallzed
Then the San Francisco and Tonopah
Exchange came into existence, with
about two score members. For many
months after May 1903, when the lat
ter organization became existent the
older exchange paid no attention TO
the younger one, az the amount Of
business done by the latter was not
great During the past few months,
however. since last June the transac-
lions OF the Tonopah Exchange have
been very large In amount. and the
old exchange. known as the Comstock
Exchange, because II handled the
Comstock properties almost exclu-
slyely, awoke 20 the situation
Two weeks ago four members OF the
Tonopah Exchange were Induced 10
resign and to apply for membership
IN the senior organization, one week
ago yesterday Il other members Of the
Tonopah Exchange. believing that the
Comstock people would win the fight
applied for membership in their ex-
change. All were admitted. but seven
were made 20 pay $500 each, the other
seven being admitted without any pay
ment
The IA we're balloted ON last Wednes-
day. on Thursday the TonOpah securl-
Ties were listed on the C0mstock Ex-
change for the first time. On Thursday
and Friday the new members attempted
10 do business. They found that they
could not do so satisfactorily and made
M their minds they were up against
a game In which they were getting
much the worst Of the bargain. ON
Saturday they held a meeting ex'
pressed their disgust and resolved 10 go
back to the Tonopah Exchange. b,
First however they asked mat an
the members OF the Tonopah Exchange
he admitted 20 membership on the
Comstock Exchange They asked also
that the $500 apiece be returned to the
seven men who had been compelled 20
nav for membership. Their demands
were laughed at. Then they came back
10 the Tonopah Exchange In O BODY
and asked for reinstatement Nester-
day afternoon all Of them we're taken
back 10 membership, hence yesterday 3
jubilatlon,
u. G. Doubleday, one Of the four
teen. said yesterday that he had found
II Impossible TO do business ON the
stock and Exchange board. Their
methods" he said, "are bad, ana l
Was continually being importuned to
trade In Comstock stocks. j became
disglsted with the situation, for II
Mas simply case Of being held up.
on the Tonopah Exchange we can
transact $4,000 worth OF business
with one-twcntieth the amount OF
noise attendant upon O $500 transact
tom ON the C0msiock Exchange
Nat B0as OF the wen-Mown fnan-
clll concern OF the same name, an
other OF the fourteen, stated that it
was impossible for him 10 transact any
business 90 AM aud an utter impos-
sihUity 90 execute orders,
j.. H. Ktgdor, another OF the four
teen. as wen Hs Joseph r. Toplltz' both
told the same story