The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-18
Additional Mining
News.
TITLES ARE ALL RIGHT.
Some Interesting Gossip on the Famous
Nipissing Deal

One close to the Guggenheims says, in
an Eastern publication: No conditions
at the Nipissing property or the titles
were instrumental in the turning down
of the Nipissng option by the Guggen-
helms The banks alone were RESPONSE
BILE, for they called the Guggenheims
off. One thoroughly familiar with the
property says; "If there is any colorcd
gentleman in the Nipissing woodpile, it
will be found i'll the person of a direc-
tor who took advantage Of the Guggen-
helm option to sell a big block of his
stock, anticipating getting it back IN
time to apply on the option.
~ hear considerable adverse talk
about the property from people who
have visited il since the Guggcnhelm
trouble. They report that very little
work is being done there and that the
veins Mt depth are not showing the
same richness as at the surface. The
trouble is that the Nipissing property
is in it's winter dress and very lttie
work is being done, as the thermometer
is averaging about 80 degrees below
zero, with several feet Of snow on The
ground. / have no doubt that bonanza
vein 40 shows decreased values at
depth, but if values have decreased 90
per cent il is still the biggest thing
on earth. People naturally are skeP"
tical of Nipissing al $12 per share, al
though they were enthusiastic when the
stock was above $50. The absorption
of this stock by the public has been
something phenomenal, and know OF
n block of 10000 shares which was sold
Tuesday by parties who anticipate get
ting it back lower. and 1t was all taken
within range Of three-quarters OF Il
point,
off Nipissing veins do not go down
below fifty feet, the present selling
Al 1C,ht
fifty-six known veins. The Bonanza VEN
has been followed on the surface for
450 feet, and there are enormous values
still 10 be taken out of this VEN IN
fifty feet. even though 1T does not run
the sensational values uncovered at the
surface. number of other properties
in the Cobalt field arc getting blg
values out of veins which are belng
worked all the way from seveuty-hye
10 900 feet in depth, and II is hardly
possible that the Niplssing veins have
vanished while in properties completely
surrounding the Nipisslng on all sldeS
rich ore is being taken out and shipped.
81 am afraid that there have been
too many jealousies within the NipiS-
sing camp, and many OF the INSIDE IN
terests have been afraid of each otner,
especially of one, member who W was IN
authority and had the rich vein 49 Gov
cred up and knowledge of the hnd kepU
from the rest of the directors while he
was picking up cheap stock,
"Nipissing stock has received se9i seI
vere setback marketwisc and II VIII
take time to restore confidence IN Ut,
but there has been no legitimate reason
TO chop off s25 100000 in the market
value of the stock, except that many
of the large holders became, panic
stricken. The public will benefit. how
ever. as they have the stock ana IL
is hardly likely that they will be fright,
ened into selling their stock on Any
further drives in any. attempt on tne
mart If the former insiders to get back
| their former holdings.