Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1904-05-28
e. .MimS& Co. Market Letter

The market this week has been eX-
tremely dull and buyers as well as
sellers scarce, the end of the week
though gives promise of a little re-
vival.
Montana onopah weakened off a
few cents on the break in tie ma
chinery and expected closing down,
which was anticipated; this proved
to be erroneous as after a few days
the damage was repaired and every
thing is again running full blast. The
showing OF this mine is truly a o
derful one, a body OF ore 1875 feet
having been encountered on one OF
the levels that will average 5000
rock. Our advice to spectators and
the public in general is to buy Mon
tana-Tonopah and buy it now; the
stock is 1.60 for large quantities.
We doubt whether 1.60 would bring
out much stock, and our conservative
opinion is she'll touch 200 before she
goes to 1.50 again,
Belmont has again been attacked
by a bear crowd and the price driven
down to &c and 63c, large buying
orders were encountered at this level,
the consequence being a rebound to
&c ane Csc with firm bids and no
stock.
We have of late been advising all
our clients to buy Tonopah Of Ne.
vada stock at the prevailing price
and also encouraged the buyer ninety
day plan Of operating; for those not
acquainted with this method of spec
ulating we will explain in a few
words. To buy stock at 80 days re-
quires a 20 per cent deposit on the
price Of the stock purchased and
admits of 80 day option OF said pur-
chase, in other words a man buys 100
shares Tonopah of Nevada at 50
buyer 80 days, he puts up $50, and
does not have to pay the balance
until the expiration of 80 days when
he is compelled to pay the balance or
pocket the loss, or the profit, which
ever the case may be if the stock
sells for more than price paid he
makes money, if for less he loses,
This is simply a method of facilitating
a speculation in a high price stock
the advance of which is always
greater than in a low one, a natura
consequence as one moves in cents
the other in dollars.
Our purchases in the open market
have been close on to 1000 shares o
Tonopah Common. We consider il
a safe and sur purchase.
Midway is holding its own, the re
ports from the mine are ~excellen'
and ore win soon run through thu
Midway mill. We look for quite
rise in it ere long.
Tonopah extension is firm as a rocl
at Ito and Mcnamara largely being
dealt in around 10 and 20 cents.
Startling developments are ex
pected in North Star, the nature o
which we cannot disclose, but tn
purchase of it around present figure
is a certainty for a good profit.
Tonopah-Gol Mountain is activ,
and firm at 15c bid. One of GU
papers hint Of a deal for control b
G. D. Lane. The truth of this W,
cannot vouch for, but where there i
smoke there is generally fire.
Gold6eld Mining company firm a
from 60c to zoe and Red Top sellin!
in blocks around 20c.
The market as a whole in our est
nation has a healthy look and ad
vances will surely take place in tn,
next few months which will max,
many a nan wish he had purchased
and lots sorry who have sold. W,
are bulls on all Tonopah stocks anC
would rather buy than sell one ant
all of our Touopah leaders.
r. L. MIMMs & Co.