The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-02-04
RHyOLITE MINING
STOCK EXCHANGE
Institution Organized and viii
Open for Business Before
Feb. Is.
LIMIT IS 200 MEMBERS
LISTING COMMITTEE is EXAM
lining SECURITIES.

Rhyolite. New. Feb. 3.-The Rhyolite
mining stock exchange. which has just
been organized with seats at 800 each
for seventy-five charter members and
other seats at $500 each for twenty-five
additional members, will be open for bus
mess before February 10
IL is not thought possible that the first
call can be made before that date, as
the committee on arrangements Will hard
ly be- ready Ur the opening of the board
rooms
When the stock exchange was first pro-
posed the charter membership was placed
at a limit or fItty. The rush for seats
was so great that il was found necessary
to increase this limit TO seventy-five. Al
ready more than fifty of the 1920 seats
have been sold since the charter MEM
bershp closed, and before the first call
most of the seats on the exchange will
be sold.
The listing committee for the stock eN-
change Is looking over the flood of stocks
that are coming i'm TO be handled and the
most desirable properties offered will be
accepted. The rules under which the eX-
change will operate will be those of the
New York exchange. 1t will be neces-
sary to make bid or sale on a board lot
to make an exchange quotation.
The following number of shares shall
constitute a board lot: Stocks to 80 cents
a share. 1000 shares: stocks from 30 cents
to 30 cents share, 800 shares stocks
above 80 cents a share. 100 shares
The Postal Telegraph and Telephone
company is anticipating the extension of
its lines through Nevada. The plan is TO
build through the southern Nevada min
ing camps. including Rhyolite. Goldfield
and Tonopah.
w. II. Baker. general manager. and
h. J. Nally. third vice president. are in
Nevada ordering the extensions.
The state is covered by the Western
Union and the Southern Nevada COnsOl-
idated Telegraph and Telephone COM
pany.
Local Manager Snead of the latter COM
pany reports that the lines of the COM
pany will be extended to Greenwater, the
Lee district and Emigrant Springs with
all speed.
The poles for the Improvement are all
at Beatty. but the demand for wire is at
present greater than the supply. The
line Will run from Rhyolite and Beatty
VIA the new town of Schwab.
The Western Union also will extend in
To these two districts.
The Lee district particularly is a.rract-
ing the attention of the corporation. for
1t is here that the greatest activity Is
expected during the next two years
This district is about twenty-five miles
south OF Rhyolite and has been prospect
ed and opened for fourteen miles
Not only are all the veins true fisSures
but their extent has astonished the most
optimistic OF the engineers.
The district has been held back for
want OF water and transportation facili-
ties. but these difficulties now have been
overcome.
The fact that the country is a good one
IS shown by the recent strike on the Com
0lnatiOn property. owned by Cox and
Martin. An eight-inch streak Of $500 ore
has been uncovered.
The Gold Bar is preparing another ship
ment of high grade ore As soon as the
roads will permit getting the ore down
the nil two carloads will be shipped to
Salt Lake. This ore is high-grade and
the assayers report the cars valued at
$4,000 each.
All the levels are in good ore and a full
ment
At present the haul of ore to Rhyolite
is slow and expensive but Gold Bar will
be on branch of the Las Vegas & To-
nopah road within the next thirty days.