The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-05-13
The General Situation.


spite the san Francisco disaster and |
the bearish tone of Wall street is per-
haps the most remarkable feature to 1
be noted in the mining share situa- |
ton The east and middle west are
anpareIrtly convinced" The profits /
that have been made by early inves-
tors in Tonopah and Goldfield stocks, |
together with the sensational show /
ing being made in the mines at Bull |
frog and Manhattan, have created an |
enormous demand for stocks in the !
new companies OF merit that are be- |
ing promoted from BullfrOg and Man |
haitian and this demand from east of |
the Missouri river is so overwhelming |
that it completely overcomes the de- |
pressing effect Of the calamity at |
San Francisco.
With only rare exceptions, all of the |
Bullfrog companies have made good |
within a year, from the double stand |
point of mine development and ad- |
vance in the market price of stocks, |
and Mania titan, although suffering
from a plethora of promotions, is
making such a phenomenal showing
in fits mines that within ninety days
fits mining stocks OF proved worth
may be expected to repeat the his
tory In early profit-making Of the
Tonopahs, Goldfelds and Bullfrogs.
The cautious investing public is
apparently absolutely convinced that
IT is getting q run for it's money"
II
& Exchange Board, which for upwards
Of forty years has made the market
quotations for all the COmstOcl1s. has
heretofore been the scene of most of
the trading in Nevada. mining stocks,
and eastern brokers have been in the
habit Of telegraphing their orders to
San Francisco for execution. The
Exchange was burned down on April
18th and the banks discontinued bust
ness, making 1t impossible for the
--A-r @1,ers = fra-r
the sudden curtailment of these ia
ciIities. the transactions on the New
York Mining Exchange. the New
York "cgIrb," and the GOldfield, Los
Angeles and Salt Lake stock eX-
changes, which have heretofore been
i'm a large sense feeders for the San
Francisco Stock Exchange, have re-
. Elected no serious declines in any of
the stocks, and such insignificant de-
clines as have been made are current
Iy accepted as temporary matters
only.
The disaster has, however. brought
sharply to the attention of Nevada
mining companies the necessity for
eastern representation, and several
OF the leading companies of BullfrOg,
Manhattan and GOldheld now an
nounce that they will open up trans
fer offices in New York and otherwise
extend to eastern brokers in their
home city all the facilities that have
heretofore
exclusive by members of the San
Francisco Stock & Exchange Board.
Further proof of the strength Of the
marke- IN Nevada mining shares is
found ~ the fact that when the San
Francisco disaster occurred, the banks
Of all of the Nevada mining camps
had many thousand dollars on deposit
in the San Francisco banks, and all
of this money has been tied up indeh-
nitely-few of the San Francisco
banks having resumed regular bust
ness since the calamity. Naturally
with so much banking capital tied
up in this way, Nevada banks have
been compelled to curtai their time
loans to some extent and in many
cases TO can in demand loans,
amounting to tens of thousands OF
dollars, and the weaker holders of
stocks have in some cases been COM
PEELED to throw them on the market.
a year or two ago. before Nevada
mining stocks were accepted at their
true worth by the eastern investing
public, this would have caused a
panic: now it is different. Hundreds
of thousands of dollars are in Cvi-
dence here on the ground, ready for
investment IN high class mining Sc
curtties and it is an easy matter for
the holder OF good stocks to receive at
least what they are intrinsically
worth, however suddenly offered and
no matter in what size blocks. Here
ON the ground investors are in a Do
sition to learn by personal examina-
ton the exact situation of the various
properties, and the outside public is
not without means, through trusted
agents, to learn the exact conditions.
It is a remarkable fact that. with
a. very few exceptions, no attempt
has been made by promoters of new
Bullfrog and Manhattan mining COM
panies to put an inflated valuation on
their securities, and the public, IN
seven cases out Of ten, has been able
to buy into new properties Of merit
on a very near to cost basis. The
result Of this has been that quick pro-
fits have been made by investors and
SPECTATORS, and in most cases it has
been possible to obtain a profit on the
original investment within period of
a month.
Every company on Bonanza noun
tain in Bullfrog has experienced a
steady advance in the market value of
its shares. BullfTOg Eclipse was put
out TO the public at 10 cents per
share, and is now selling above 81
Bullfrog Denver was originally pro-
NOTED at % cents. and is now selling
above 81 10. BullfrOg Tramp was sold
originally at 40 cents; it is now in
demand around S1.20. BUllfrOS BO-
nanza Mountain was put out to the
public at Is cents within the past six
weeks, and is already selling at ar
advance Of 100 per cent. A Dozen
other instances of this kind could be
cited in Bullfrog.
In Manhattan the conspicuous re-
cent success in this regard was Jump
ing Jack. which was put out to the
public at 30 cents, and within eve