Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-11-02
BROKER TALKS
OF The SITUATION
SAYS THERE is A GENERAL
GOOD FEELING TOWARD
NEVADA.


week from a trip to the coast, and
considerable of his time was spent
in Los Angeles and in San Francisco.
While we are suffering a season of
enforced quiet. and New York is in
the throes of financial trouble, things
in our n%eighboring State have taken
on a roseate hue. To be sure San
Francisco is not in the best of con
dition, but the immediate country is
a land of promise fulfilled.
Los Angeles said Mr.. Langley,
lis looking fine, and the conditions,
generally, are good. The fruit crops
Of southern California are exceed
ingly good and the market prices are
higher than they have been for years.
The tone Of the real estate market Is
particularly good, and the values are
well sustained. There are man. inn
provements being carried on by the
city and there are big changes under
way in the street railway lines. The
record for building is nearly up to
that of last year, and that was the
greatest in the history of Los An
geles. The class of houses being put
up average above that of last year.
THE stock exchange has caught
the favor of the public, and is with
II doubt going to be a success. They
have a very fine building, and the
rooms are crowded at every session.
It will undoubtedly make good when
normal conditions resume. Los An
geles seems to favor Manhattan and
there is a great deal of inquiry about
the mines of that camp.
In San Francisco one also hears
q great deal of Manhattan, and every
body looks to see it come bounding
to the front. The idea of two mills
going up appeals to the people, and
the prediction is freely made that
the three which are now under con-
struction are only the forerunners of
many more to come.
There is a general good feeling
toward Nevada in San Francisco. The
people there recognize that the min
ing developments here have never
been as good as they are at present.
Thy are strong believers in Tono-
pah and the future of her developed
mines. The majority of the people
with whom | talked think that Ne
vada will be the next mining sensa-
ton, not only on ccou of her
great resources of high grade milling
ore, but for the shipping ore, which
they are confident viii be uncov-
: cred.
Il stopped at Reno ON the way
home and found that the feeling
there vas very good. There were
no runs on any of the banks, and
the feeling regarding the State Bank
and Trust Company is that it will
come out all right. and pay dollar
for dollar. | heard from one party
that t. b Hickey had said that he
HiAhSVih WOuiu 81 W the ItSCuS vi
the banks with his private fortune.
The present depression, while
strenuous at present, viii have the
best kind of an effect on Nevada Sc.
curities. All wildcats and doubtful
promoters will so down and out
and it means a new era in mining
development, from a substantial
business point of view.
with regard to Wall street, the
conditions there are doubtless due
to the recent revelations OF frenziet
finance, The expose of Ryan's trans,
action in buying a street railway fol
s2,700,000 and immediately dispos
ing of it TO the people for SAL 900,
600, has caused the people to realize
more zforcibly than ever the present
conditions, brought on by such over.
speculation. The worst promoters
that Nevada ever had are as pupils Of
the Kindergarten compared will
these so-called kings of finance.
Il am not at all alarmed at the
conditions of the present in Nevada
I think it was a wise thing to close
the banks by the declaration of
number of legal holidays. The banks
are institutions for the convenience
of the public, and TO maintain them
selves it is necessary that they lenC
the money of their depositors out a
interest. 1t would be impossible 70.
any bank to return the money of al
its depositors in a day. They mus
have time in which to get in thef
resources. There is no doubt tina
the State Bank and Trust Compan!
will resume. and will continue ii
business and pay dollar for dollar.
THE banking conditions all owe
the West are good. There is abso
Iutely no reason for any apprehen
sion. The action of the Goyerno.
was wise and timely. think tina
It would be advisable to continue thu
bn1fdavc for touaap time until al