The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-08-17
PHILADELPHIA NEWS LETTER
SPECIAL CORRESPONDENCE
SPECIAL CORRESPONDENCE

Phnadelphn. August 12-undoubteaiy he panicky condition If thu big mar
ket during h week. had something to d. with the sharp break in Consolidated
from ss72M to below he $500 mark Its failure to recover however cam possibly
be traced to the thai tn Baruch option had beer extended another ten
months. or init around November 1t 1908 If thsp proves to be true as the
of the market would Indicate Notwithstanding wingheids denial n his
action in buying he took heavily around $3.50 a bad body blow has been given
III universally expected fall boom.
Private advices from colaasad o.. this 4h told of a very fair financial report
n that Nixon had gven nut a statement that Baruch would exercise his option
On August sth new amt hat wingheld hd alphabetically denied that n
extension had been given stamping the assertion as a ridiculous canard.
.m non nronaang the stock neavuv around $50 adding tbata additional news
would be ot wtthin ten days.
for all before this article reaches you. However. tn action of te market in
steadily declining in tho face of heavy IN open accumulate of he stock by the
Nixon AM wingaAd faction, does not look Encouraging
The writer's information regarding the extension II the Baruch option comes
from very reliable sources although it is apparent that the Godhshd broker AM
1t Is OF course ute hkey tht ms mas Deh cncuia'u ir soe oenhe
purpose bt until emphaucany in omciany denied YOU correspondent is in
cnned to entertain the idea
published nnouncemen that the ooidaeld Consolidate directors would meet IN
September Sd and declare In initial dividend. which western advces stated. might
be IS cents and possibly more
This wv was discredaed here in the east, OF account OF, he action of the
stock marktwise. With dividends of IS cent Or more. likely to be declared
within 80 days it is hard to reconcile a resutantd decided drop in market quota
1t nay be the purpose Of III management to start dividend payments AM at
Whatever thu Ana loutcome in ts market is. either bans grossly manipulated
again. or else some bd news tmhed with good prhaps) will soon pc mad public
roxo1Ax szxxoHr
Belmont was mad tbs medium Of a hafhearted attempt to advance quota
s mas ona,suons had nmo rushed n from 3 lis to IS inside Of m hou The
bull trader then seemed to get discouraged as they did not persevere in their
attempt to dvanc he prce OF h stock. and it quickly slamped back to 81 again.
This flor to rush quotations U W as a foohady oe as conditions we're far
from being re for higher prices 1t is still believed in certain quarters that
quotations OF thts stock will fall below $500. although 1t is a afevident fact
that insiders have fixed the $500 mark IS The stopping pMce of thu present decline
Tonopah Mining vas another decidedly weak spot in M mining market this
week It's action in holding steady while the big marketw vas crumbing away. and
falling of h te big market was recovering clearly ndcatedt that The premt
weakness was no a sympatheucal movement with the balance Il the list but
was due to inside conditions
President Brock is expected back from the west IN dy now when the trump
ss.s. ' = .s ssDss sass Internal sas.# to s ss sssn sse s,s ' be- 4ssps aa i: s sss ID ps s sss'' ssny
ing price of this nt-edged stock When ne sees a mining stockd decline from well
above thu $50 mark To- S1l7 u.s.. With still lower prices in h prospective ones ad
|miration for mining stocks in generals IN Nevada stocks in particular. does not
especially when it is clearly apparent that thu physical condition OF the
nroperty itself was never better and tha earnings were increasing appreciably
1t is all very we'll to raise the pont that % me is called pom tod dispose OF his
snck at present prices especially If h think It is worth double This is fMse1
reasoning as all haehode annot choose thu m for h sale OF theirs stock
Aeaino ones onndence surely u b. shaken when he sees q 50 per cent decreaseI
in quotations. with nonapparent caus
Tha assertions Tor hat thu nasem Is not concerned as regards he mar
kt foundations OF its property is erroneous 1t is not their purpose to use every
Mort to supportt their stock and attract new purchasers. they ave 10 business
forming a stock company AM captalxing the property n more assuredy they
no right to list their stool on one of the leading Exchanges Of thu county
n writer does mott no whether John Brock is responsibl for the present
low selling prices Of Tonopah Mining nd Belmont tut 10 does know this thu
Of these stocks the last Few months, has costth he Nevada industry quit a
few desirable friends md is thu u 4 . good deal Of i'll feeling nd apprehen-
dn among n rood many more