Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1907-10-25
governor SPARKS
DECLARES HOLIDAY
cc'n,Inaea from Page oael

AhtNf - a AnAH hhtf IN hnluuCln
who has unlimited faith In the State
Bank aud Trust Company. This 4
u. Mackenzie. promoter of the Flor.
snce Mohawk Leasing Company. Tie
IL said 10 have sioO. 900 on deposit
In the Golddeld branch OF the Hickey
banks. and has expressed his willing
ness TO put In $30o. 600 more. and
leave ia IN the bank for year. II
. necessary. MIR. Mackenzie Is now in
San Francisco. having gone there 10
confer with MIR. Hickey. and there is
no doubt that the conference will re-
suit in something beneficial to the
banks.
Mr.. Mackenzie made for himself
and his clients about a million and a
quarter dollars on his lease on the
Mohawk alone, and he Is now ship
ping the richest kind of stuff from
another lease on the Florence He is
a shrewd business man, and if there
is a way out of the trouble, he will
hhu ~ anu uOuDllCoS, VIII HclD
finance it,, His meeting with Hickey
has a good sound to those who know
the man.
The Nye and Ormsby county bank
officials are busy with their affairs,
and are confident that they will be
able to meet the demands of the de-
positors as soon as the holiday is
ended. All they want Is time to get
their money in, and they claim that
there will be no trouble doing that.
In fact, there is nobody in the CITY
has any other thought but that every
thing will be all right and that all
the banks will come out on TOP. If
there is man in town who is doing
any worrying he has not put in an
appearance in public.
There was little worry yesterday
morning when the reports from the
stock exchange came in. The Ne
vada securities had been smashed out
of all semblance to their former
selves in the pit of the San Francisco
Stock and Exchange Board. The
bears were taking advantage of the
condition of affairs, and were pound
ing down the securities numerically.
Word was received here that the
Goldfield exchange had been closed
on account of the holiday and this
suggested to the local exchange and
to the banks to wire to San Francisco
requesting that the board there be
closed. As result, the following
telegram, signed by the Tonopah
Stock Exchange and all the banks,
was sent to President Ruggles of the
San Francisco Stock and Exchange
Board:
"Tonopah, Oct. "a.
ITO A. B. Ruggles, President Stock
and Exchange Board,
San Francisco.
Every bank in Nevada is closed
by proclamation of the Governor. We
urgently request that you close your
exchange during this enforced holt
day and stop this merciless slaugh-
| ter
The answer that was expected was
not received, but doubtless the ap-
peal had its effect on the brokers.
Ruggles replied as follows:
The market is improving and no
panicky feeling prevails. BY keeping
the board open no stronger argument
could be given the East of the stabil-
ity of Nevada stocks. Our banks are
sound and confident"
The market advanced after that.
The recovery from the mornings col
lapse was something wonderful. And,
Notwithstanding the cry of hard
times which has been heretofore
heard. there were many buying or
ders went over the wires during the
day. Jim Butler was pounded down
to 20 cents. At first people were
dazed; then they suddenly awakened,
and made a dash for their brokers'
ofhces. or to the telegraph Office.
They bought fearlessly, and they
bought while they had money at their
command. This was doubtless the
cause of the sudden recovery of the
market.
The close of the day had bright
look. There were good reports COM
ing over the wires from the East, and
the middle West, and as far as San
Francisco, rode through the storm
without knowing that there was one.
The Judgment of everyone was that
the crisis had passed