The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-01-14
MUCH MONEY MADE
IN MINING STOCKS
Review OF Last Season Shows
That Investments Came Out
Reasonably Well.
MARKED INCREASE IN
DEALINGS EVERYWHERE
Tremendous Transfer of Money
by Dealing in Coppers of
This State.

The year just ended has seen a marked
increase IN speculation. both on our eN-
changes and at London. which is the
distinctive mining market of Europe. On
the whole. q great deal more money must
have been MADE, though much Of Ii may
be still on paper. for the rise In stocks
has been based largely on better metal
prices and upon actual discoveries OF
ore. In the United States the most spec
taculsr dealings have been IN The shares
. Of mines situated at Butte. Mont, at
0odfield, New, and In the Cobalt district
OF Ontario, but there has been tre-
mendous transfer OF money and stocks
IN connection with the copper mines of
Michigan Arizona. and Utah. ana the
gold mining ventures of southwestern
Nevada, says the Mining and Scientific
Press.
At Boston, the shares in the older
mines OF the Lake Superior region, such
Calumet & Hecla and Wolverine. pos
sessing assured ore reserves and careful
management. have seen an advance that
seems. warranted; the newer companies.
such as Copper Range Consolidated. AL
)ouez, and Mohawk. have been able 20 full
I'll expectations formed al thei hota-
tion. and the rumors Of combinations TO
be formed among groups of adjoining
mines has stimulated dealings. especially
at the close OF the year. But Boston.
10 which transactions In Michigan cop
per stocks are mostly confined. has been
optimistic only: no; excited beyond iea.
Eon, although there has been some liberal
dealing In a few OF the Butte stocks,
such as United Copper. Butte Coalition.
and North Butte.
creased dividends of Amaleamated and
Anaconda have provoked The customary
gambling on large scale, but the chief
center OF speculative purchases OF min
Ing stocks has been on the curb-the
peripatetic mart on Broad street. Here
there have been extraordinary scenes OF
excitement especially during the last
three months OF the year. Dealings have
grown enormously and the number of
stocks quoted has been increased until
the list is fairly representative OF the
mining activity prevailing ali over the
North American continent. IN the first
half OF the new enterprises at Butte,
more particularly those corporations that
were formed Immediately after the Helm
Ee-Amalganated truce, In February.
were favored by spectators; indeed. the
cessation OF the at-and-dog fight be-
tion and Mr., Heinze released a great deal
OF property tied by injunction and pro-
6uced most excellent effect in Montana;
as II was almost contemporaneous with
important discoveries of rich ore In the
northern part of Butte and with the eN-
traction Of rich stuff from the bottom
workings OF the Anaconda mine. the gen.
eral result was 10 give great animation 10
the stock market.
The extension Of the Blsbee copper
district and the discovery OF rich ore
bodies In the group OF mines within the
bonanza circle, prompted active spec
rlation In the shares Of the Calumet &;
Arizona, Superior e P!ttsburg. Butte &
Arizona. ShatIuck- Arizona. and Denn-
Arizona companies, dealings being scat
tered over many markets, for Michigan,
Montana and Pittsburg capital was large
j. instrumental in financing some of these
enterprises. at their inception. as the
names indicate. This tendency Of min
Ing men to go out OF their home districts
Is a good feature Of the years progress.
Butte money has been put into idaho.
for instance. in the Snowstorm mine and
IN the Mullen district. Salt Lake capt.
tai is financing several copper prospects
IN southern Nevada: money made from
Colorado mines has won handsome re-
turns at Tonopah and Goldneld. This
means that the experience OF capable
mine operators is applied to the explora-
tion Of new regions and there can be no
question that money from such a source
1s better spent than that Of the clerks.
policemen, and cooks that dabble on the
margin OF ten-cent stocks.
Utah and Ely Stocks.
The development OF the big copper
mines at Bingham has been reflected
by the quotations for several Utah stocks
that are dealt In AZ New York and Bos-
ton, but there has been no great rise, the
Ing offset by the litigation with the farm
ers over smelier fumes. eliminating in
the unfavorable decision Of the local
courts. Similar ore deposits at Ely have
furnished the basis, together with Cug-
gephetm control, for great doings in Ne
vada Copper Consolidated. stock that
Io9e "i'ElI year from 10 IA largely
on the proof of immense bodies Of ore
and the completion Of the railroad. Two
other established copper enterprises ex-
plotting low-grade ores of an opposite
character, namely, Tennessee Copper in
the State Of that name. and CRANKY IN
British Columbia. have figured on the
share lists. but without any pyrotechnjc
displays, both being held by strong groups
OF fnanciers. The California copper
rnines-in Shasta ceunty-have PLAYED no
particular part in speculation although
Lawson said some things about Trinity.
put TO balance this state OF affairs. the
Fresno Copper company. q Glasgow en-
terprise. based upon an unhappy mine in
Fresno county, California. came 70 most
tnglorious smash, with a drop in the
shares, at Glasgow, from two pounds TO
Two shillings within 2 few days
There has been "A healthy market In
Cripple Creek shares but II has been con-
1ned mainly TO the local exchanges. at
Denver, Colorado Springs and Cripple