The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-12
The Genera al
Situation

Situation
The facility with which Nevada
mining shares are being marketed.
despite the San Francisco disaster
and the bea S tone Of Wal W l., Street rec
ture to be noted in the mining share
situation. The east and middle west
are apparently convinced" The
profits that have been made by early
stocks, together with the sensational
showing being made in the mines at
Bullfrog and Manhattan, have created
an enormous demand for stocks in
the new companies OF merit that are
Manhattan. and this demand from
east of the Missouri River is so over
whelming that it completely over
comes the depressing effect of the
calamity at San Francisco.
With only rare exceptions. all of
the Bullfrog companies have made
standpoint of mine development and
advance in the market price of stocks,
and Manhattan. although suffering
from a plethora of promotions, is
in its mines that within ninety days
its mining stocks of proved worth
may be expected to repeat the his
tory in early profit making of the
Tonopahs, Goldhelds, and Bullfrogs.
parently absolutely Convinced that it
Neva s.f The Sam San FRI Franc i C Stock Z
Exchange Board, which for upwards
of forty years has made the market
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
change was burned down on April
18th and the banks discontinued bust
ness, making it impossible for the
brokers to go on. Notwithstanding
the sudden curtailment Of these ia
Silities the 10 on N the 1 NeW
angeles a AND Salt the ak eo stooa E Ees
changes. which have heretofore been
In large semse feeders for the San
fected no serious declines in any Of
the stocks. and such insignificant de-
clines as have been made are cur
rently 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 Goldfeld now announce
that they will open up transfer offices
in New York. and otherwise extend to
eastern brokers in their home city all
the facilities that have heretofore been
enjoyed practically exclusively by
members of the San Francisco Stock
& Exchange Board.
Further proof of the strength Of the
market in Nevada mining shares is
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 1ndefinite
ly-few of the San Francisco banks
having resumed regular business since
the calamity Naturally with so much
banking capital tied up in this way
Nevada banks have been compelled tc
curtail their time loans to some ex-
tent and in many cases to call in de-
mand loans, amounting to tens Of
thousands Of dollars, and the weaker
holders of stocks have in some cases
been compelled to throw them on the
market. A year or two ago, before
Nevada mining stocks were accepted
at their true worth by the eastern in
vesting public, this would have caused
panic; now it is different. Hundreds
Of thousands of dollars are in evidence
here on the ground ready for invest
ment in high class mining securities
Of good stocks to. receive at least wha
they. are intrinsically worth, however
suddenly offered and no matter II
what sized blocks. Here on the ground
investors are in position to learn b!
personal examination the exact situa
ton Of the various properties, and thu
outside public Is not without means
through trusted agents, to learn tn,
exact conditions of the various prop
critics.
1t Is a remarlzab bic fact that, will
a very few exceptions. no attempt ha
frog and Manhattan mining companie
to put an inflated valuation on thei
securities and the public, in seve,
cases out of ten. has been able to blu.
into new properties Of merit on a yer,
near. to cost basis. The result Of thi
has been that quick profits have bee1
made. by investors and spectators
and In most cases 1t has been pos
sible to obtain profit on the or
iginal investment within period of
month. ..'s'.
Every company on Bonanza Noun
tain in Bullfrog has experienced
steady advance in the market valu
Of its shares. Bullfrog Eclipse wa
share, and is now selling. above s1.o(
Bullfrog Denver was, originally pro
noted at Is cents. and is now sellin
above Sl75: Bullfrog Tramp was sol
. originally dC ~ CtIltS, 1t Is llOW III de
+ mand around s1.20. Bullfrog Bonanz
Mountain was put out to the publ
at Is cents within the past six weeks
and is already selling at an advanc
of 100 per cent. A dozen other ir
stances of this kind could be cited
Bullfrog.s ~.
In Manhattan the conspicuous re
cent success in this regard was JunI
, ing Jack. which was put out to tt
public at 80 cents, and within tW
days of the close Of subscription
less than six weeks ago. was sellir
on the San Francisco Stock and e.
change Board at 40 cents. Manhatta
Consolidated. which was earlier p,
out to the public at IS cents, has so
as high as S1.90. Manhattan Dexte
which was put out to the public !:
% cents, has sold since at above $40
The L. M. Sullivan Trust Compan
In the capacity of Fiscal Agent +,
mining companies of known merit, hi
successfully placed. during the pa
ninety days, O.ooo shares of II
treasury stock of the Jumping jar
Manhattan Mining Company at
cents. and 100000 shares Of the Stre
Dog Manhattan Mining Company
So cents. 1t is now disposing Of 6
allotment of 100000 treasury sllar,