The San Francisco call., 1907-06-22


ton and Jumbo Extension continued
in the local mining boards, yesterday.
The scrapping was attended with sew
eral. picturesque features. One of these
was the shutting down of the tele-
graphic facilities just about. the time
the brokers got through with their in
side curb" sales.
The stopping of the telegraphic in
struments did not interfere with the
transactions of the day, considered by
themselves, but there was general won
derment concerning the effect the shut
down would have on the market today
and from this grew reflection concern
ing the effect upon the general pro-
grams that the opposing factions IN
the brokerage camps have been carry
ing on sharply for some days. 4
In the official list of the San Fran
cisco stock and exchange board it was
set forth that there were ac-
tually sold in the regular call and in
formal sessions of that board 1850
shares of Goldfield Consolidated Mines,
200 shares of Combination Fraction
and $500 shares of Jumbo Extension.
The variations of prices were sug-
gestiVe of the way in which the tide
ebbed and flowed and of the skill of
no mean sort lildL WAS IldlillSSlSu III
the opposing camps. Goldheld Consoli-
dated Mines, for instance, sold at the
following prices: $6.35, $6.37 4, $40,
$6.45, $6421A, on the regular call board;
then, when the informal session with
its greater freedom of action came in,
the following prices were registered:
$e.25, 6.371z, $40, $500, 1892 y, $6.35.
With the strongest inducements TO
make big detours from the beaten path
it will be seen that the prices diverged
little from one level. The game was
like well played game of baseball
in which the hits were few and
punched.
There were actually few shares of
Goldfield Consolidated Mines in the
market that were Immediately deliver
able. Thirty-siX hundred shares were
sold seller and 10 days. After
the board sessions the price remained
practically at the same pitch at the
closing. The sales of Goldfeld Con-
solidated Mines called for the payment
of something like $4,000, averaging
the prices.
Those of Combination Fraction called
for coin amounting to $3.50 while
the Jumbo Extension sales brought in
$4,000 in round figures to be paid at
the average rates of yesterday, or a
total for the three stocks of about
$4,000. The commissions on the deals
for the three leaders amounted to quite
a pretty penny.
Combina ton Fraction scared at the
outset to S3.05 The knockers, with
their most strenuous efforts, were not
able to hammer it down lower than
$2.S5. The reaction brought it back to
S3.l0 without any seller proviso. Jumbo
Extension did not hold up to the open
ing record. 1t was hurt in the hand
TO hand warfare of the day. The fall
from 81 in the regular call board to
$1-S2h in the informal session gave
glee to the shorts.
The story is that a contract to sup
ply $4,000 shares of Jumbo at Goldield
is about to reach the time limit for its
fulfllment
The brokers were punched in the
rooms of the San Francisco stock and
exchange board in the afternoon when
the informal session was ended and
the final struggles of the day took
place. Close to the rail they played
a game of wits and finances that was,
perhaps, as interesting to the onlooker
as it was to the gladiators. The
curb" did not alter conditions ma
terially.
When the work stopped the govern
ing board of the San Francisco stock
and exchange board met and reached
an important decision relative to the
rates OF commission to be charged by
brokers in their dealings with patrons.
The commission has been half of lsper
cent, fat, since 1876. The governing
board raised this to ] per cent fat. w.
c. Ralston of the board explained the
situation fully after the adjournment.
He said that the commission is still
lower than that charged in any other
exchange in the United States for the
handling of mining stocks. At Gold
field the rate is Y per cent fat. On
the New York curb the commissions are
on sliding scale that runs from l per
cent share for stocks sold from 20
cents to 81, to 1215 cents a share for
stocks that bring S5 or more a share.
The minimum commission on the New
York curb is 81.
AT Butte the commissions range from
y cents share on stocks bringing
from % cents TO so cents a share to
l21z cents share for stocks sold at $40
and upward. The minimum Butte
charge is 81.
The old rate in San Francisco of half
of ! per cent" said Ralston, was based
on dealings in stocks that sold for hum
dreds Of dollars share. That is very
different from stocks that sell for few
cents a share. There are few stocks on
our list that sell for more than 81
share now, as any one can see. There
are risks and delays in payments, and
there are telegraphic charges and other
expenses and the time taken up to be
considered. San Francisco is still the
cheapest place for the payment of min
ing commissions. even under the new
rate, in this country
The governing board did not take UP
any plan for the establishment of
clearing house for the San Francisco
stock and exchange board yesterday,
for the reason that the board had not
all the information that it desired and
1t was concluded that further study
Of the whole subject would be advanta-
geous. Some mistakes have been made
concerning the beginning and ending OF
the vacation that the San Francisco
stock and exchange board will take
presently. IT will begin June 29 and
will last until $3.50 a. m. July s.
LEASES WIN LARGELY