The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1905-05-12
WEEKLY MARKET LETTER.
Comments on the Local Situation by
Kenneth Donnellsn q Co.
GoLpFIELp. NV, NAV IL, 1906

1OIDflEBD, NEN., WAY IL, iVVvs
For the last several weeks we have had
to chronicle the fact that the Goldfield
stocks were suffering from a bad slump.
The first part of this week the terrific
hammering continued and the stocks
went down even below what appeared to
be bedrock last week the last twenty
four hours have, however. put a much
stronger light on the situation and the
better class of stocks have shown a ten
dency to rally from the depression.
Our last weeks market letter set forth
the reason for the slump; in this we
stated that we believed that it could be
attributed largely to the tremendous
amount OF advertising being INDUCED in
by wildcat promoters, and which by rea-
son of the great number that have been
held as Offerings" has placed the in
weston in a perfect maze, rendering 1t
impossible for him to distinguish be-
tween the good and the bad. This has
all redounded to the discredit OF the mer-
i~torious properties, and has cut of a sup
port and demand which would other
wise have been theirs. This condition
comes to all mining camps sooner or
later, and Goldfield is now passing
through same. Time tells, however, be-
4 cause dlltT Il CtTtdlu IcilStu VI iIC iihS
gone by the wildcat promoter has failed
to 'make good" and his career is at an
end but until it is ended somebody has
to pay for his operations, n that
somebody is the investor. along with
the meritorious property which has suf-
fered, because the money which would
naturally have found its way into it has
been diverted. The time has arrived,
however, for "Mr. Wildcat Promoter"
to "make good in the Goldfield dis
trict. lie can't. Consequently, ali
stocks suffer in the estimation of the in
vestinp public. Gradually the wild
cater will receive his quietus and his
well-advertised property will be but a
memory: then Goldtield will be ON a
solid basis.
The quotation table shows how low
Goldteld stocks are today. Our predic-
ton is that thirty days hence the quota
ton table will tell an entirely different
story. We are guided in this opinion
by the fact that the properties in this
district have never looked better. More
active work is being done than ever be-
fore. The mills have been constructed
with a view TO handling the Goldfield
ores a. they should be. and are very sue
c~essful. Other mills are in prospect and
with the advent of the railroad render
ing supplies and machinery cheaper
Goldfield will OOn be on a permanent
basis and all meritorious stocks will be-
come staple, and this condition of affairs
is not far Off.
Quoting one mining engineer OF over
thirty years experience I'D different
countries, he states:
"Goldtield does not stand alone in her
conditions; there are many other coun-
tries similar, and all indications here
point to a permanently OF the mines and
the making OF a great camp
The stock which rallied the most dur
ing the week was Goldfield Mining, adj
vancing sc in t~wenty-fOur hours. We
have advised all along that this proper
ty was one of the best in Goldfield, and
numbers OF our clients took advantage
of the low price occasioned by the gen
eral slump to buy this stock, and they
will reap the benefit of their wise in
vestment within a short time, as cOndi-
tions existing at the January are better
than at any time since the opening of
the property.
Jumbo improved during the week, but
the stock which has all during the slump
remained the strongest is Red Top; this
stock will not remain lOl,g at the pres
ent figure.
Sandstone suffered greatly from the
slump, but buying orders were m
Gus owing to the fact that the better
advised buyers were informed hat con-
ditions on this property were better than
ever, and it is one of the best buys on
the market at this ridiculously low fig
ure.
Diamondfield suffered, but recovered
the last of the week. This,
too, is a good buy now.
Adams, Blue Bull and Kendall went
down with the rest of the stocks, but
show a tendency to recover the last OF
the week.
Black Butte, which in our opinion is an
excellent buy, suffered somewhat on ac-
Of forced selling, but will advance
within a short time.
st. Ives was very strong during the
week, sharing the honors of strength
and advance with Goldfeld Mining; this
is a good property, and a good chance to
buy in now at a low price
Mohawk and Silver Pick, both OF which
are good buys, remained at about the
figure as last week.
Considerable trading was done in the
Bullfrog stocks locally.
Now is the time for the investing pub
lie to put their money in the more relia-
BILE stocks of Goldfield and Tonopah, and
those who invest iudiciously will make
big returns within the next sixty days.
We quote subject to market t1uctua-
LATEST BIDS:
Tonopah, common (bid) ............... SIS 50