The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-03
MINING STOCK BUSINESS
Commented Upon by R. B. Higbee, the
=: Largest Independent Dealer in
? -------- The NnrthWast -

Id 1dl SSSG llluSpSuuGuG DCdl0r III
the Northwest.
z People should understand that be-
cause I am able to quote prices on the
great majority of mining stocks at con-
siderably lower, than the regular price
asked by the company, or their fiscal
agents, does not necessarily mean that !
their prices are too high, nor is it any
reflection on the company itself. My
business is a development Of the times.
People are forced to sell in many in
stances whether they care to or not;
quickly; a man in my line of business
is able to procure the cash for such
parties the time they most need it
quicker than he would be himself, for
in nine cases out Of ten the average
investor does not know where to sell
his stock, and could not effect a sale
himself quickly. 1t is my business to
do, this as a broker, and 7 am able to
sell many valuable stocks at lower
prices, and at the same time realizing
more for my clients than they: would
be able to do on their own account. 81 : !
4 i never advertise stocks unless / can
deliver the same, or could do So at the
time made the quotation or offer. j
am very particular about this, for under
no circumstances will IAquote lower
prices on any stock than that at which!
uAve ~ l1SIeu Will me. Ii mOsC eases
where can quote lower prices than the.
regular figure I have. only a limited
amount Of the stock offered, and make
my price as low as possible in order
to effect sale quickly. .$
Besides those people who are. some
times forced to sell, the stock is often
obtained from the original prospector,
promoter or attorney, who secured his
stock at the very beginning of the en-
=.
small proportion of the profit that would
ultimately be his if he held on with the
bona fide purchaser, but many times
mining company starting out is so
anxious to get things going that they
give away large blocks Of stock, only
to have them bob up later on and cause
them endless trouble. / am not saying
that these prospectors, promoters or at
torneys are not justified in selling their
stock at low prices, for many times
they have other opportunities to invest
the money which they receive for the
same, 81 as to make them quicker and
perhaps larger returns than they would
receive by. holding the security they
have to sell.
In many instances, too, I represent
banks who had to take the stock in
order to realize on debt, but in all
cases the stocks I offered are stocks
-tooSAoo
pany and are in all respects the same
as those offered by the company itself.
I have made careful study Of the
mining business and know that the av-
erage investor will profit more often
by communicating. with me when he
| is in line to invest in something, than
if he goes into it blindly on his own
account. It seems strange to me that a
man who has never put five minutes Of
actual study into a mining proposition
/. will take the advice of some over
enthusiastic person and plunge his LIES
savings into some company; paying "a
thigh price for the stock, when he might
| have obtained the stock from me for
a quarter the price, or perhaps been
warned Of the rottenness of the enter
prise before he had parted with a dollar
Of his good money.
A doctor Of Southwark, London, sum-
moned for debt, said that he could not
! pay because SO many doctors in the dis
trict were charging only sixpenny az
cents) fees that he was unable to make
a living.