The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1905-05-05
WEEKLY MARKET T T
Comments on the Local Situation by
Kenneth Donnellan q Co.
GoLpFIELD, NV. Nav 1, 1905.

The slow. sluggish market which has
prevailed for several weeks continued
during the past week, with brighter in
dications showing that the market Will
o react.
As stated in our last weeks market
letter, periodically there seems TO be a
lull and falling off in prices in the Ne
vada securities, but it is a 'luA before
the storm Reaction invariably comes
aud the majority of the stocks go up to-
gether. The range of prices occasioned
by these periodical lulls and reactions Is
WHY there is money to be made in trad
ing these stocks"
The close follower OF the market has
a rule which ne uses as a guide, viz.
buving on the slump and selling on the
bulges. During the early part of the
winter the Goldtield stocks passed
through one of these slumps; at that
time We advised our clients to buy and
those who took our advice benefited
greatly by it; the same will be the case
after the present slump.
Within the past two days there has
been more buying OF the Goldfield stocks
than for some time, and the class of pur-
chasers are those who make the money
in the different camps. The situation
from Il mining point of view Is daily
growing better in the Goldfield district :
the fact that the railroad will ne
completed within the next couple OF
months will make material cheaper and
make il less expensive developing prop
critics.
The bear makes capital of the suspen-
sion Of shipments of ore from this dis
trict, and says it is OH account OF the
lack OF ores but we, on the ground,
know better and realize that if there L.
any suspension of shipment it is merely
from the fact that the mine-ownerS OF
producing mines are holding their ore
until il can be shipped direct by rail-
road from Goidtieid to the smelters.
BY referring back to our previous let
tiers our readers will notice that by COM
pairing today quotations with those OF
the past several weeks they will see that
the stocks which we have advised our
clients to buy have been the m which
have held up the strongest under the
slump; this is true particularly OF Red
Top. Black Butte and SANDSTONE.
The situation at the Red Top is i'm
proving daily, and, as We have advised
our clients, shipments could already be
made il deemed advisable by the com
pany. OF very high-grade ore. This is a
good buy at the present figure.
Goldtield Mining has, in our opinion,
reached its lowest figure-in fact, it Is
lower than it has been for many months.
The conditions at the January will be
greatly improved within the coming
week when the pumping machinery will
be installed and the hosting OF ore re-
sumed.
Columbia Mountain, Kendall, st. Ives.
Mohawk and Silver Pick all suffered
during the slump. We do not look for
any Of these prices to be maintained
long.
Various reports detrimental to the
Diamondtield have been circulated,
which have aided III reducing the price
OF that stock; from information which
We have concerning this property we be-
lieve these reports to be incorrect.
Adams has reached the lowest point
and will undoubtedly pick up shortly.
We are inclined to believe that heavy
forced selling in Jumbo Extension and
Nernal broke these stocks down.
Blue Bull maintained strength and
vc.. in demand.
There was a great deal OF interest IN
trading in Sandstone. This stock mas
come to be recognized as one OF the sta
pie stocks OF the Goldtield district, and
while it participated with the balance Of
the stocks III the slump, 1t showed
strength at the end. \ new strike was
reported OF this property on No. Il lease
OF the Sandstone claim which has an
important bearing upon the general sit
uatlon of the mine, ore running xl2o
was encountered on the 5O-foot level.
and at the present writing the ledge
shows 1 feet wide. This strike II on the
ledge in which the high values were
found on the Ioftus lease. No. )
OF the Kruger is still in the lode por-
phvry at a depth of 1913 feet. Drifting
will now be commenced, and every indi-
cation Is that a rich vein will be en-
countered on this lease. Ii these indi-
cations are verified il will have a great
bearing on not only the Sandstone
property. but also on other properties OF
the camp.
The Bullirog district attracted consid-
cradle attention during the week, the
more prominent stocks being traded in
and prices remaining steady.
Gold Bar, Bullfrog National Bank,
NIoItSoIlclg houllaiii "Eu tCHNp ~
tracing the most attention.
We hope within a few days to give
our clients iull information relative to
the Bullfrog district, as our office will
shortly be established there, when we
will have direct wire connecting that
district with our other offices.
Our closing advice to our clients is to
buy now, as we are satisfied that the
better class OF stocks have reached the
lowest limit and will react. We quote
subject to market fluctuations;