The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-08-07
ACTION Of CHANGE
IS NOT LIKED
Excluding From Public Sales Of
Unlisted Stocks Has Many
Objections.
ONLY THREE DAYS ARE
ALLOWED COMPANIES
Exchange Should Have Given
Scattered Directors a
Chance to Act.

On Monday morning the brokers who
deal In mining stocks on the local ex-
change ratified the action OF the govern
ing board OF Saturday, whereby from
and after the 10th OF the present month
no report Will be allowed to reach the
press regarding the sales of unlisted
stocks on the floor of the exchange. This
action is intended to force several prom
Incnt mining companies whose stocks
are dealt In extensively on the local eX-
change to list their stocks upon the To-
cal board.
This action of the brokers has created
no end of comment. and most of II is
against the arbitrary action of prevent
Ing the actual business transacted upon
the exchange TO be given to the public
through tho medium of the newspapers
OF Salt Lake Several companies,
through their officials, have given some
evidence OF desiring TO have the stock
OF their particular company listed, but
few can refrain from obIccting TO the
fact that only three days are allowed
them to take such action.
More Time Necessary.
The business OF listing stocks belongs
to the directors OF the companies in
Volved. Several OF the prominent stocks
dealt in on the open board undoubtedly
would find themselves plastered upon the
list In short order were it possible to
call the directors together for that pur-
pose. One company in particular has
directors scattered all over the world.
the vacation season calling them to Eu-
rope and elsewhere for the better por-
ton of the summer season, 1t is stated
with reason that fully three months
should have been permitted TO intervene
before the exclusion of sales OF these
stocks from the public take place.
AS m ordinary thing, three fourths OF
the business transacted on the local ex-
change is done on the open board Some
days fully 90 per cent is the rule, and
n vast majority of the sales on the opeu
board Is on stocks that are unlisted.
Some of these are properties about
which the general public are Interested
more than In any other and from the
10th on the brokers who are still to
enjoy their percentages upon sales made
are pledged upon their honor not to let
the public know anything about 1t.
List Of Stocks Affected.
Among the unlisted stocks dealt In on
the local exchange, and which the public
will continue to deal In, are the Column
bus Consolidated, Nevada Hills, South
Columbus. Ohio Copper, Honerlne. Cum
berland and Ely, Keystone. Thompson,
Odin. Lost Packer, Consolidated Flag
SShHi 4Null hIlfeT anu
Little Cottonwood. and from the 10th on
no broker Will be allowed to state how
many shares were sold nor at what price
per share, because the companies upon
three or four days notice have refused
to pay tho listing price OF the exchange.
Tho listing price is 500 for mines and
$50 for prospects.
The amount OF business transacted this
year on the local exchange over that
Of 1905 is one of the most encouraging
signs of the season, and the most elo-
luent illustration OF the present-day
and 1t has been with pleas
ure that The Tribune has given the lg-
ures each week and month. with COM
parisons. Unless the unlisted stocks
sold are given with the other figures no
authentic figures can be given, and no
made, and that which has
served TO impress the public with our
present-day prosperity will fail In its
purpose. The stock exchange, In pun
shing the unlisted companies, is pun
shipg the public as we'll.