Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-07-23
ARE HOT AFTER
TONOPAH STOCKS
R,isk Buying Movement of Past
Few Weeks Due to Compile
ton Of New Railway
BROKERS' SHORT ON MONTANA.
saors Being Made to settle--one OF
Tho difficulties Encountered About
Trading in Nevada Stocks

lively interest Is being taken IN
a.. cast in Tonopah stocks ana during
Wv nast few weeks some heavy sales
s.ye been reported from New YORK
and Boston. A New York authority
savs Of the situation as regards TO-
ropah in the east says
Almost all the brokers who handle the
tive business on the local mining ex-
Exchange report a brisk demand for
roronah stocks. orders being received
indicate a demand for an of the stocks
=, tbe companies operating at that
o.mn. Godneld stocks are also being
o.,,vely inquired for. Two brokers
soye buylng orders that aggregate 90
ne ebores OF the various 'ponopah 49,
Onos While the remalndel Of the or
s se,s' would probably bring the total
vo IN 10 900 shares, As most of these
siocks are approaching the dollar mark,
,hn extent of the intereit shown IN
hat camp is demonstrated
This buying movement, which has
hosn IN progress three weeks has been
Sne both 20 renewed interest In opera
,l5ns Of Tonopah and TO the general be-
ief mat once the railroad is in touch
Win The camp, all OF the properties In
n nosltlon to ship viii begin sending
oui ore. AS the ore is high grade, the
,nnes from the time they begin ship
ming will be on q sef-sustainlng basis,
,bough no definite estimates can yet
no made as to revenues. The Montana
Tonopah company, one of the strongest
organizations of the camp, IL expected
to earn clear 100000 n month from sre
already I'm sight. While these figures
nav seem high, there Is some belief
mat the results received VIII not be
nr from the forecasts made. This Is
specimen representation.
A peculiar phase of what may be
called the "Tonopah movement" Is the
fact that almost all Of the professional
operators nj Tonopah and I'm the east
are short Of the stocks, and have been
IN that position for some months. one
large house In New York IL believed to
be short 10000 shares Of Montana-Tono-
nah around $3.50. Most of the stocks
since the operators began selling have
advanced from 200 to 500 per cent, and
efforts are being made to effect a set
tlement with those holding contracts
for delivery. II is understood that most
Of the professional operators, after the
advance last January thought the
camp values We're too high for pro-
perties that had not st shown what
they could do when proper facilities
were given.
Thus, almost all Of the ore sent out
from the camp has cost for transporta-
ton and treatment charges close to $40
ton
The difficulty IN trading In Tonopah
stocks r. the east Is due to the scarcity
Of the stock, and the fact that all
transfers must be made at Tonopah.
Formerly this incident In the change
Of ownership Of mining stock required
three weeks, hut the time has recently
been somewhat reduced. IL often hap
pens that the officials whose signatures
are necessary for the issuing of stock
are absent from the camp, and "a no
certificates are signed ahead Of time,
all transfers must wait for the return
Of those authorized to sign them.