The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-07-29

eyes!- Meggendorfer Batter.
surplus receipts in circulation save
a semi-official central bank, to be
owned by the national and state
banks, to stand as medium between
the treasury and the business world.
This would strengthen the entire
financial fabric and give some elias
ITCHY to the currency.
President Corey of the United
States Steel Corporation, who landed
from Europe Saturday, said: 81 have
not resigned, and do not intend to
resign | have come back to do my
work in the steel corporation. have
heard of no meeting of the directors
to act on my successor and do not
believe such is in contemplation. The
trade outlook is good, and l found
things satisfactory abroad. The Unit
ed States is the greatest country on
earth"
Shrinkage In the market value of
the high-class securities, in which in
surance companies are now permitted
to invest, coupled with a more con-
sentative valuation of it's real estate
holdings, has resulted in a shrink
age, under re-valuation, of approXi-
mately 20 per cent in the surplus of
the Equitable Life Assurance society
and this in turn has necessitated a
cut of 10 per cent in dividends to
tontine policy-holders since the first
of the year.
The mining stock market has been
in the dumps for the past three
months. Not for the reason that the
mines in and around Ely or in the
state for that matter, were not as
COON an investment as they ever
were and better, but for the unset
tied condition of the money centers.
Banks and brokers have prepared
themselves for slump in the money
market. In other words, they have
locked up enough money to bridge
them over a severe panic. Wall
street has been on the verge of a
panic for the past three months. The
money market has settled down to
about it's normal condition now,
however, and a better stock market
is bound to follow as soon as cool
weather comes. The News looks for
great activity in copper stocks this
fall. Copper is in great demand and
anywhere that it can be produced is
the place that will attract the world S
attention. Robinson district has
the largest beds of developed copper
of any section, not excepting Mon
tana and Arizona. Several companies
are operating in this district with
millions of dollars behind them.
While copper stocks have been dis
counted for several weeks, a better
day is close at hand and copper stocks
will soon go higher than they have
ever been.
No one not thoroughly conversant
with White Pine county has any con-
ception of its great possibilities.
This is true, not only in mining
way, but in stock raising and farm
ing While the county is little
"shy" on water, that question will
be solved all in good time. Steptoe
valley is large and with water could
be made very productive and there
is too much idle land to allow it to
remain in an undeveloped state much
longer. l think that water and plenty
of 1t to be had for the boring. The
county needs it; the county needs
the products of the surface as well
as the products underneath the sur
face and no one can make mistake
who acquires title to good land, with
or without water. The day may be
some distance in the future when
Steptoe will be reclaimed from its
present waste, but to a close observ-
err it is too apparent that the present
condition of Steptoe can't last always
The brain and cunning hand OF
man will surely devise some way OF
putting the land to high use The
United States now has population
of about 80,000,000 of people and
that number is rapidly increasing
The country east of the muddy Mis-
souri, is crowded now and there must
be some place for the overflow
westward the star of empire takes
its way" and Nevada presents the
best field of almost any state in the
sisterhood for men and women look
ing for a home. Not among the least
desirable places for the homeseekeI
are the valleys of White Pinec ounty
so | may say that SteptOe cannot
remain much longer barren waste