Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-24
Mines and Mining
NEvADA's BULL MARKET.
Buying Orders Pouring In From All
Parts Of Country.

Special Correspondence Of The STAR
GOLDFTELD. New. August 40. 1906.
Holders Of southern Nevada mining Sc
curities have made from SIS. 0o0. 900 to $40.-
900 during the last month. Since July
Is, when stocks were probably at low ebb.
a gradual advance has been noted. until to-
day the average level Of prices approaches
that Of April II. the day before the San
Francisco catastrophe. The New York.
San Francisco. Goldield. Philadelphia and
Pittsburg markets show exceptional
strength. Brokers find 1t the most difficult
work to fill buying orders with limits.
Every one seems to be on the buy. 1t now
looks as II the great record for August,
1899. at Colorado Springs. which marked
the pinnacle Of the stock boom In Cripple
Creek securities. Is sure to be surpassed.
Every day records advances Of from s to 10
points In leading securities, Msnhattans
and Goldfelds seem to have the call, al
Bullfrog and Tonopah stocks Of known
merit
Nevada's rehabilitation as tho greatest
mining state In the Union IL In full swing.
the meridian will be reached for several
years The volume of business on the San
Francisco and Goldf1eld exchanges far ex-
eeeds that Of any previous summer in the
mining shares Orders are pouring in
from the east north and south, and every
one seems Intent upon acquiring holdings
In the great mines and prospects Of this
Coincident with the upward movement
In stocks has developed very pronounced
activity In mining operations. In this par
tfcular all the great mining districts in
southern Nevada are affected.
L. M. Sullivan Of the L. M. Sullivan Trust
Company Of Goldfeld, when asked to &C
count for the present bullish tendency OF
the market. said: 'Tt is very easy to
ascribe a reason for the present action. In
fact. it would be much more difficult to
find a theory which would fit the conditions
were they reversed. During the days i'm
mediately preceding the San Francisco dis
aster the market was strongly buoyant,
and. while a temporary depression was
looked for in midsummer. that time was
had not been reached. When the catas-
trophe came all the world stopped stood
still and waited breathlessly for the out
come. Then the time came when the banks
Of futures could not take them up. and the
result was a slaughter in Nevada securi-
ties. and the slump was general During
these last months, however. the intrinsic
these stocks has through further develop
ment and rich finds all over the state
steadily advanced, so that to the casual
observer 1t must be patent that as soon
as the insurance losses were paid there
must be strong reaction in which to
reach somewhere near their Intrinsic worth
the entire list, which must advance from
so to 80 per cent. The insurance compa-
MES have now turned loose many millions
Of dollars in San Francisco. and in the I'M
certainty which prevails as to where the
popular business sections will be, as well
as in view of the present building restrlc-
lions, many people have money which they
cannot we'll invest there. and In the grow
ing popularity of Nevada securities they
are turning to Nevada rather than to the
small banking interest. People who have
been in business for years now find them
selves for the first time possessed OF their
entire capital in cash. and the result Is In
evitable." When asked If the present up
ward movement would continue uninter-
Mr.. Sullivan said he thought It
would There 10 no reason why we should
experience any further period of depres-
sion. and as the labor sky appears now
cleared Of clouds do not look for any re-
action whatever