The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-10-05
NEW YORK NEWS LETTER
SPECIAL cORRESPONDENce

in oraer Various and many have been the explanations set forth to account for
dividend Among which we may cite. hat the west was dissatisfied whit he dKi-
ded rate. that 2s cents or at least Is cents was expected that certain members
Of the Baruch syndicate were nqutdauns partly through necesdtyo m account
of the heavy knocks received lin The copper market md partly for the reasont that
the nasem of the nsoudate property were selling in rider to raise funds
to pay n the Baruch option n lastly because the inks were employing similar
.ean' a .enn "s "m en un nr~ar. ~ a..~n n.,ns ,asun~ place we're forced to un-
load at any old price. Theses are the most feasible rasons set forth and ARE wor
thy of frtherd discussion and analysis
EAST DrssAr1srrnD WIFE cozsoIzDAEzD DIVIDEND
Reading between the nneso of the various articles appearing in the western
papers it is cas- to see hat expectations for a heavier dividend ~tet hn vas de-
chard. rn high among westrners who rather look fr a dividend return OF at
least 20 per cent on mining Investment and thtd disappointment nd pique played
some part in the heavy liquidation of mining stocks during the past week in the
west is plausible However this would not account Tor tn tremena0as pfsss ",
brought to bear on the market and even If this theory was the correct one 1T I'LL
purchasers among the Val Street element as soon IS matters nave aaietd down
.Anucx ADDS TO n HOLDINGS
Your correspondent, therefore ann see hw this theory an account for
he present, break Taking u the next item te writer has it direct from Mr.
Bernard Baruch tina he has not sold IN of his stock. nor have I'M o. hsc oerie
of capitalists o.. the contrary they ave added to their e- This the writer is
liable to subsanhate from his knowledge IF the open buying the past six lays in
the New York market. 1t is undoubtedly true thatt he various syndicate members
have had some heavy knocks the past six months Who of u.s. have not received
them? And it is Of course, possible that some of the stock let loose in 'e ~es'
has been for their account Copper must ave treated ,hem badly a among other 1ss
writer is willing to accept Mr. Baruchs word that they are ssnans pat Again he
pretty strong that h received 200 900 shares Of Of ss %s am and ' ls 600 900 s soo sn a ns sa
est on his $1,000 300 loan for the cancellation Oh ms 0pn0n on iVVVVS "' :"
nqun%s the RaHush loan is. naray feasible n is in aH.st. senssaa ,M n to the he
as freely ssprs.sss = ss.srsl a., a quarters rte. m ,s ! s asss, in w ,a "a ssm w,s sa s@ ass
we're lust scslpins the markst. for a urn nrn.1 realizing ,sn hat ,t the , sme , ~as ngs f as a
s gagged ssd in srsaal"s III market am causing sstrass an sissgs', a; lust ~ hen,
if it was heir desire to sell stock for mpa purposes they would Tough 1t on
asaes s@a a sa to tnea naarantas Of III whole Nsvada mining industry.
WEST LOADED Up WITH STOCK
The writer is more inclined to . give o s,ssss e. md nd s w%s sss TO ,o ss l se n sias
nosnsss ss s%s mt a ShssSs' on : o ossex assss had % a a t' last Ssen ~ aslared. It vas this
sars . ol except, s y SELLING Idnm. al IT., "a p orHf s sasa s"s ssan as ssv fore ,%s PRESENT. s as0 asem"s
fails i =" su m nnus. m the Contrary he is told that there is not 500 shares Of
q s" knews tS DasG s%%s a practically sa%y 40 short interests m New York N Phnadsphaa.
so s as t ant ~y @ me s ss a e9 snns 1ne s" un "n' they have ave- a a ss@d poSt h way
tine IN s wa it has sne en aiken up here in the east. While it is true 10 one was in a
i p~s a stock eb which Which was wa Yielding such good dividend returns even though quotations
sssh s ss1s wrs l9nss is shi IA" a an position s1 a" to- sp@ ao 50. to ' stand nfp pat N his commitments
f f%a s@ 1 Ssyln nes at pss %T so~ isvsIs ny Consolidated on seosn Of, its hand
oa IN a of %s nias rlsassi pr Ss ne "s Proximity ss nt~s to the sI Florence: Atlanta because
snya ,s s rho nsp asto OF on s s@asp thnss' s nHs any good sood active act STOCK se@use the IRE
all m ssn nm g dirt rte. cheap p. nc sa hardly, sss sep peseana ' ~i l ssrsrs yssa ike ts gear INC De-
nsa is s"s sss"r raS Of a' SUNSHINE as short,nved m the next day tn downward
on ~@ Thursday ars%a@ an Friday. m this was ar addional depressing feature n made
,' aa ss, to- 'h ssss ea he IF " con s%ssssa purchases nss assvy wa n'a anaasr disturbing DIS u%%r features s%
snhs s.a,, !, cannot mot, : de ss% %s sss s had ssn ssSs,s srs ss sesvss.s itself m stood steady
COPPER THE BONE OF CONTENTION
Copper ontnues to be the bone OF contention in the big market almost every
srsas n sso's'so % being 81 h, s%ss,s by ss Isl n s ,ns ls s,sns ss9 distress & t is a aeaua e0 Of
over over productions %s sn" and inflated asta prices and nov that ali lnausslials n products
market until they can, be- s, placed In in sn N hands s of ,as tn t se", s~ss,m ss p ss rsiHsrs sS
and daily signs are beeomn more and MORE %rsa plentiful nifa that, that Industry sn ssgw and Ra p1paus,
cannot noat loans on favorable terms for the purchase of rails which is . nanssa
s onss,s smon,. s sss% an IN ss to su assn as Wit 1T is su sssd ba ssln sop s%a nasas as s% so a' goes ss
down tn the . whole n list, opp sns be, being so the first p1 e %a s @ s shOs san ssere9e asat tata s
signs become more plentiful each day that retrenchment is going on all around
rrovins. diseountins. as usual ion in dvanc the turn of the It'd to better
""sN r.Anrs CONSOLIDATED TAXES A DROP
Strong rumors are ahot THAT L L. Odd1e has oHered 10 sell MS hoiihss u
Tramps Consolidated which amount to around 10000 shares m retire from the
presidency of this ompan 1t is stated that a Philadelphia syndicate is being
to AXE over his stock at a figure sonewber between rs cents nd 35 cents
1t was this umor which started the heavyh liquidation lastT Thursday when under
sales of thousands OF shares Of stock quotations fell. from 81 cents dow to 20
cents
s,,,a Tas .. wrass sss statement, Hs@s sss wa wsy hints ss 's %%s r ~s ' ,s sss.s sss sns Ps.n this ,a s' ss1.
chase tn stock heavily at each succeeding break, from $500 down.. Many thou
md of shares being purchased around 500, again around $40 and finally
|around so cents In many quarters it has been stated that the president of the
company had not hesinted to sell heavily his sbck at good prices. while at the
sam t he was advising purchase of the stock The writer cannot OF course
state this as being a fact but from surface indications I'M from the way the
stock has been handle out at times it is hard to figure who else was the seller
tina tn s at lime he hs been rather hard pressed for ands to ak are of his many
ind intricate interests. 4
Last Novembe this stock sold at $780, giving a marketv valuation IF ss75o0oo
for the property. as its total capitalization is 100000 of which$ 225ooo Is is
sued here being 10000 shares in the trasury, nom of which was sever sold he
annd be ranked better hans good prospect although it has Quite toni
of low grade milling ore in light 1t is the opinion 81 the writer that 1T Is
only a question Of time when the managemen will come to the Asame conclusion
as the Gibraltar officials arrived at few months g namely tina it is foolhardy
to go on sinking money mtoth he property with high wages, high prices for sup
Pile, etc. just at this tme n will hut down TIL property pending more reason
aMe prices and the erection of mills through which they can market some of their
low grade ORE 1t may be that this decision has been arrived a alreadya and the
is now scouting this development although it is most asonab to
credit the retirement of T L. Odde from the company IN n taking over OIL his
holdings
ToNoPAI ITEMS II
Tonopah Mining suffered rather heavily in theP Philadelphia market today, sell II