The San Francisco call., 1907-01-31
Stock kandExchange
Board Adopts New
Methods

|
st. Ives continued its upward course
on the San Francisco Stock and Ex
change Board yesterday. Twenty nine
| thousand shares of ST. Ives were sold
! and the price advanced from $1.15 to
s1.32h in the board and to $1.371a on
/ the curb. The greatest number Of
/ shares of one property sold on the
/ board was $4,000 of the Red Top Ex-
! tension Company. Jumbo Extension
made a strong showing with sales of
20700 shares, the price varying from
/ s265 to $3.50. Nevada Hills, with sales
\ of but 200 shares, rose to 81. A large
block Of Lone Star in total was market
ed, consisting of 2s700 shares. The
price advanced points. from 39 to 81
cents Thirteen thousand shares OF Lit
tie Bullfrog were taken, the price
ranging from to cents. There were
sales at and cents a~share.
With only 100 shares of Goldheld
/ Consolidated Mines sold. the price var
led 30 cents. The first 900 shares were
sold at So The next 200 shares brought
about sharp rise of so cents q share.
The closing found the bids at $S.S7 bid
and 50 asked. Ten thousand shares of
Eagles Nest were SOLD. The opening
price was 32 cents. decline followed
and the remaining sales were at 81 and
80 cents, with 80 cents bid and 81 cents
asked in the closing quotations.
BOARD ADOPTS NEW SYSTEM
Twenty-one thousand shares OF Mon
! arch Pittsburg Extension were bought
at 80 to 80 cents, the rise being at the
end Combination Fraction had specu-
lative range The opening was at
1915; then the price fell to $3.50; then
$50 shares went to $5.75; then 250 were
sold at $5.621a. These several changes
were effected with sales of but 24O0
shares, which indicate the sensitive
condition of the market in certain d.
rections. Diamondfeld Triangle vi
brated between ~ cents and 68 cents
share. These were the principal feat
ures of the day in the board.
number of happenings engaged
the attention of the mining stock
brokers OF San Francisco. yesterday
The first was change OF bylaws or
the San Francisco Stock and Ex-
change Board, which abolishes the old
system nf executive meetings or the
board once a week ano ostitutes a
new way OF settling matters in which
the board il concerned by the institu-
tion OF a governing committee, whose
duty It Will % 90 deelts all questions
that would ordinar - be decided py a
majority vote OF aa brokers' attending
a meeting
This does not hard over to the gov
erninE committee rate that require
a two-thirds vots a all mbers pres
ent to decide, Hkp changes in the by
laws anC Ifle elftAtttAi3 > VI AhOACJ'
but virtJ ly everything slse will fall
into the ateal OF the - 6erning com
mfttee q, -vun grfieh . | be appoint
: ed by m -sgi5apk q IL board, A. B.
Ruggles
s,gEls.rgTs ~ SsM PEDRO
The cororeitsse ma 80 named today.
/ Great care sri5 be tA1en in the selec-
tion or account 81 10. Importance OF
the dutlas tba. ere f.nDoe Cd The change
efrecte0 hy tie Eosrd in this direction
is to bring its methods into accord
with those OF other stock boards in the
; country. ana also, II IS said, TO econ
omize ilne for the brokers'. who, under
the oil system. have esen compelled to
listen 10 discussions ouce every week,
with lack OF corresponding benefits
A slory also went the rounds or the
broker ysster5ay thac is seemingly
based or fact and hat involves move
of great importance . the Southern
Nevada mining camps, being the es-
tablishment of an independent smelter,
to be located at San Pedro, on the line
of the Clark road. The sum of $780,
600 has been raised at Goldfield and
elsewhere to back this project. R. o.
Hobson has been commissioned by his
associates to go south to gather all the
information possible, and has started
for Los Angeles. Hobson has man
aged sampling works at Goldheid
Pedro for the smelter by the Clark
road management. San Pedro is pre-
ferred for the smelter, 1T is said, be-
cause 1t is on a direct line from South
ern Nevada, and also because, being on
the seaboard. 1t is a convenient place
to receive fuxing ores from Mexico,
which are needed in the smelling work
to be undertaken.
SULLIVAN TRUST COMPANY
In addition to these matters the
status of the negotiations for settle
ment of the troubles of the L. M. Sulli-
van Trust Company was talked over
individually by the brokers who are
creditors. Kenneth Donellan confirmed
the rumor that If Hickey. the new
president of the company. would stand
back of the offers made by Russell, the
new manager, Donellan would be will
ing to go in with the other brokers in
effecting a settlement.
Tomorrow the temporary restraining
order issued to keep the San Francisco
Stock and Exchange Board from sus-
pending Broker A. l.. Hudgens will be
returnab1e. While the board has con-
suited with counsel, and hints of com
promise have been rife, both parties
principally concerned In the transaction
in Bulls and Bears stock that brought
about the present strained relations be-
tween Hudgens and the board said yes
terday that they saw way now to
settle the controversy except through
the courts Broker Toplitz denied pos
itively that he had offered to COM
promise on any terms. Broker Hudgens
also said that he expected that the
matter must be determined by the
courts.
J G. G. Schnipfe was admitted to mem
I 49, g. 0fe.A