The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-09-14
PHILADELPHIA NEWS LETTER
SPECIAL CORRESPONDENCE


mining Market due enureS 10 the 'a"s"eo c"oiuohs OF hHpo1 aHahs IN SodnHd
m us TACT S~ %"' a ",n "s, aery arn ~ %". tn s"" "~,' .sA.,a Is % 's Con
market helped to hold quotations on Belmont and Tonopah Mining steady around
SO nd ,1 respectively, until the absorption OF Friday OF a large block of thu
latter stock ,ovr 5000 shares, LEFT the market free for al upward movsmsn OF
Saturday. hitch carried he stock to sales at sIs7H. 1t Is hardly expected hat,
this strength can be maintained. unless nm me has inside information thai the
dividend will b put back to IS cents at the meetings If the directors of the CON
pany. which will b held around the Gothic f this month, for dividend action
A lengthy article which appeared in the morning papers had much to 10 with
the upward move in Tonopah although the firm from which said article emanate
has addedto its already os lists OF enemies. in the freeu use IF mi details. etc.
~. D Toland told his friends yesterday morning tina hi believed hiatt there
vereO only 200 NOR shares II Tonopah On the market In other words his friends
liquidation which Toand has conducted presumably for one of the leading directors
of the Tonopah Mining company. IN view of Mr. rdands statement it ws ese-
chIy interesting when, alter in the day $500 shares of ronopah werss sold by him.
The rice was sI winthrop Smith s C were the largest buyers Since aand
began t, sell. he stock some months g he has marketed a linz of about $4,000
shares. one of he principal insiders in the mpan said a week that Mr..
~oland did not then possess over s5oos shares Of TonOpah. although at one m he
iad been very much the largest individual owner of took
The liquidation of this big lot of stock. nw that it is finished deserves to be
ing the faett that the meantime the directors reduced the dividend from io to
"Froma m point in whc it can be viewed, the distribution of the Turner
stock looks hashiyf favorable On more thar one occasion efforts we're made to take
overt the entire BLOCK of stock privately. put here was never ny agreement about
The terms To sell in the open market va the ony alternative This stock has
been largely cqured by very important interests who, like The late John NV.
woodsde, believe that the Tonopah property is worth s5ooooooo.
Mr. Turner was me OF III original ownerso of Tonopah receiving a large pOr-
uon of the entire 100000 shareso of common stock as a bonus when he bought a
part of the ssoOoooo worth Of preferred stock John W. woodside vas thna
syndicate Saa n.s Which s nlsiss s% Sas ss stock os < I@n to a p shs m or v hnnaspni am tho, ,r r ~
n nn'n nrsf f~ras n having heen paa back TO the owners before any dvidend vas maid
Oh the common. MI Turner 1T ro %s vas pure ~ velvet He Ia s a eaar proat of
s%, ,ra all 'e %tn 1t as sS sass. i tn ra ns m IF hut Se fa spsss ss asa mad sss 20 sDo
philadelphan in a mining nterprise 1t has always been understood that Wood
s wns~ss 'ss ss a an the he s t%s ss s ss asss Ink ias so ssss shares nearly III of which, it is
IS far as . its effects ~. mon n. the om pss Of 1on sSshrs stoeh n is, soassTnss the as iasllds,
su h,sh, ,y. favorable. .,s ,mn a =. w0r I'd, .s big s, selling ns is s lone %s with tn . ghGs s ;, III ave
they were Obliged to "a for it outright the AMI not caring TO lend money N
.-., asr go .s;, ssr, =, a r s ssss p ss sS @s way in, the he ss sm., % : which a, viii I, tend
return pom their investment than they are even nw rseeNins"
SOURCE OF ARTICLE
1t may be pertinent to note hat the firm whchg gave tut the above article is
auietude into the minds Of the holders OF this stock am were the cause for quite
"a an sstsnsivs LIQUIDATION dh%a Of h mn y those n we're nm not S in a position s to snow
zoe in t ,n ms to mans Of Of , their clients sa this this a as'on. wssn .s s%. is selling
have ony the sad remenbrance Of having sold their stock at heavy iosses Your
correspondent can only advise, from his knowledge of the situation tha the public
should wait a bit and watch the courseof he market as if the only strength be-
s1o5o ito sI1.
DEATH or JOHN wooDs1Dz
n,s rhs past ssv ssk saw Wsn the - loss ss ts en sno ~na T ahst . ss s'~ ~tso tn s fa nn Nevada # re,
woud eventually nave come into its v again. howevsr. credit cannot be taken
grounds If ne had not done it, somsonse else would have ut it m be denied
aavs been aslaysa perhaps for many years The discovery { e%aasa. Buutros
$ sesaS : sss mes; T he Nixon and wiasnsas o Nevada aa arr ss al saS- s~s
homo 's" and ss1as to then The man am = dead clay nov rests as Or a 10 for %sa 81 saa ass'" await
%a nc of Of his ss birth n forsaass IL that rsmainso Of his mortal being elm "''S '''A " ''
Undiscovered country from whose ourn
was not wholly unexpected by his mmediat family. The sadness Of it, is TIL
act, that Ms woodhae must remain alone alone or guard. in a foreign land until
it vas found impossible toseeure. passage for Mrs Woodsd except N the boat
siMe for the body to have been orwarded alone. bt Mrs wo0dsde could lot re-
asl%sa t aays ,1 "at sr return stornot Mr. es9 9n sn wooa ,a ns on 1 1assean tot of pressing sean, business sa mess
his wife ana daughter, to lessen with their consolation, sympathy IN
,,.us Space 1 foes s :. this aS w.sia aa i,st m, dn s on this tender sorrow which al
f SasSss1 rs "sp ss sn Seh %'W W w sossia Hs1 nsa, week. perhaps space" will permit
PHILADELPHIA cuns AnxEx
nfus r sm n issn anS 0 assv she rDand se to ~o %a point nns shst 81 sV Tine n,s ssSS,a Sc aSns e to
change Which it's nro a and cornoratoa haa p pMs - msra ma aSw uMs -
New York Curb as far as tradingi in mining stocks vas concernedb but Viii has
turned ot quHe a fzzle o. account of it's most active members dong more trad
ing between themselves OIL the phone than OF the Curb Annex" Ont of the
leading Philadelphia morning paper OF this subject had this to say he otMr
morning:
Efforts are being made ~ brokers h lake a leading part in
thu mining market to nfuse a little life, into the Philadelphia mining
curb. Since its organization it has really cut a very small figure in
the transactions in this city. Nearly all the important business has
been lone privately between the larger brokers Everyone interested
in mining stocks recognizes the advantage of having a centralized
market where's something like a regular quotation can be procured
Up to the present i'm thu Philadelphia curbh has ale to meett hat
requirement"
lust this curb can be rehabnitatd nd tut upo a staple basis so as to
include IL business done between members, is veyh hard to say, as te mature of
tradfns in mining stocks is radically different from trading in the big market In
after market. representatives If Arms are given orders o exeue with small.
rang Of Judgment there is always an active market with staple quotations.
whereas in the mining business trading is mostly don on the bareaining basis
ahd unless the respective buyer or seller has some latitude h is sure to get the
worst of it in the tradeb b. his shelters equipped opponent 1t is therefore very often
dicut Tor arm deaFng actively In mining stocks to give its representative, III
is in most cases young in years nj experience, much Discretionary WI
couldb be ccompished Agant the proximity of the New York Curb market to the
Curn annex hurts the latter ute severely that a better market can usually
be foun for stocks in the former M in many cases II a rokers endeavUs were
connne alone TO the Curp Annex ne would not be- able to- execute his order or
wouldv very likely have the stock sold to him b a broker n can buv II cheaper
in the New York market
1t will be member That the Philadelphia Curb Annex. was nrt taken
fully mature until the middle Of Noyeuhsr