Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-05-18
RESCUE rs PLANNED.
Nevadans to Lend Money on States
Stocks to Save Market.

Reno. New. May 14.--That the comfy
dence in Nevada securities has not
been seriously impaired by the manipu~
lation TO which the market has been
subjected during the past two weeks
was evident today when sullivan y
Rice, made public announcement
of the fact that they have been
designated as the agents OF a syndicate
Who desire TO loan money on Nevada
mining stocks.
This announcement was made by l..
NJ. Sullivan, of the firm named, who
stated that he wished the broadcast
publicity given TO the fact that the
syndicate his firm represents is prev
pared to lend at once S250.000 on the
security of listed Nevada stocks. Loans
are 20 be made TO the 0Xtent OF So 20
of the market value of the issues off,
fered as collateral. They must be IN
amounts OF $3.50 and upwards, and may
be made for a period OF four months.
Interest at the rate of per cent PET
annum will be charged. II the amount
which this syndicate has set aside 70
IL not sufficient, Mr. Sullivan stated
thta 1t will be prepared 10 lend an ad-
ditonal sl,OOO0OO in the manner OUT
lined.
There has not been a moment dur
ing the whirligig course Of the market
for the past 10 weeks when there
Sllpulu ikNNt uotl lb1S nl Confluence ~
the stability of Nevada issues" said
Mr.. Sullivan In announcing his firms
plan to the Nevada mining news bu-
reau, The mineral is in the ground
IN every camp in the state, and there
Is no legitimate reason why stocks
should not be worth as much money
now as they were last fall Intrinsic
values have not changed in the slight
est
Those associated with US are con-
WINGED that the rapid changes in the
price currents during the past ID
weeks have been due largely 70 manip-
ulation. Powerful eastern interests,
aided by Nevada influences. have heeN
at work TO Systematically depress and
initiate the market For Nevada stocks.
results of this manipulation have been
disastrous. And those for whom we
are acting believe now that 1t Is tho
duty of every genuine friend Of nevada
tu endeavor to make nom effective the
Vaccinations of the eastern manipu-
lators who have been bulling and bear
ing the market for mining shares.
with this conviction firmly fixed
this syndicate has made available
s250.OO0 which viii be loaned on the Sc
curlty OF Nevada stocks. The plan is
this: Amy holder OF Nevada stocks
who feels himself pinched by the pres
cnt market, can send his stocks by
registered mail. The day the certiit-
Gates are received. we VIII send him
eastern exchange for &C 2-S per cent OF
the market value of the certificates.
Loans will be made in amounts of $3.50
and upwards, and for any period up 10
four months. by which time the mar
ket viii almost certainly have returned
TO normal conditions Interest at the
rate Of only per cent per year will be
charged for his accommodation. where
as the regular rate OF discount i'm the
camps of the state Is / per cent per
month.
IF the amount set aside is not suiii-
cient to meet the requests for loans
that come to us continued Mr.. Sull-
van, the syndicate will increase the
lendable sum to 81 600 900. The conf
dence OF these gentlemen in Nevada
issues Is such that they believe not only
that this plan is good from the husl-
ness point OF view hut that every AZ
sistance should be extended to stock
buyers 10 prevent them from being
crucified by the uanipulatOrs.'