The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-10-31


L. II. c., The Dalles, Ore.-Your per
plexity is natural-''Why is a company
advertising to sell treasury stock at 10
cents. when it can be bought on the
Goldield exchange at say } eentsf
The company looks at it from a differ
ent standpoint than the stock buyer.
The company advertises its stock at 10
cents at n distance from the Goldheld
market. where its quotation on the ex-
change is not known. Naturally. a com
pany that depends upon the sale of ITS
treasury stock, wants to get as much
for the stock as possible. and goes out
among the people to sell it. The stock
may nave a prospective value to equal
what is asked for it. aside from ITS I'M
mediate market or intrinsic value, and
IL the fHiu WI guy nv ~
receive large profits. But often a buyer
of stock has to sell it in time, and is
forced to realize what he can get for
it. The stock is listed, and he knows
he can get an immediate sale by offer
ing it upon the exchange. 1t may be
there is little or no local demand for
the stock; it may not be among the
sspopular traders;' it may have no one
on the exchange to ''look after it's in
terests,' and pick up the cheap stock
so as to hold up the market; conse-
quently, the seller has to take what he
can get, and naturally, the buying
broker will get it as low as he can. The
company you refer to has no producing
property in this camp, although it has
a producing lease in an outside camp.
The local market therefore takes less
interest in it than it would if the pro
dueing lease were in Goldfield where it
would be Immediately under the eyes
of the stock buyer, who would watch
its changes from day to day. As it is,
the market has to rely upon the reports
Ct interested parties, largely, and that
is not enough for the local stock buying
fraternity. There are some stocks on
the Goldfeld exchange that are selling
for more thar they are worth, simply
because of clever manipulation; there
are others selling for less than they are
worth, because they are simply neg
lected, and no demand has been created
for them. The one advantage the stock
over stock bought on the exchange Is,
that his money goes into the properly
for development, and thereby increases
the value of his holdings, whereas in
the other case, it simply goes from the
pocket of one speculator to that of an
other.
A. o. G., Lake Placid, N. Y.-The
Manhattan Merger Mining company
was organized as simply a holding
company, with purpose, apparently, to
take in a few dead companies, which
failed to make good, along with one or
two live ones, make a showing of large
stockholdings for the new company, and
then to start a selling campaign. We
do not believe the proposition met with
the success anticipated. Probably
enough stockholders of the several COM
panies did not send in for exchange.
However, we know very little of the
actual situation, as we have had the
same trouble as you have in getting re-
ply to letters. The office is somewhere
in San Francisco. We do not know the
name of the president. A. j. Griffith IS
vice president, j. A. Watts secretary
and w. H. Mccarthy treasurer. When
the literature or prospectus of the
merger company was sent out, it set
various companies would be exchanged
for Merger stock on the following
basis: $50 shares of Merger stock for
100 shares of Manhattan Union Jack
Mining company stock; 100 shares of
Merger for 100 shares of Manhattan
National Bank Mining company stock;
so shares of Merger for 100 shares of
Hearst -Jaggers Gold Mining company
stock; 60 shares Merger for 100 shares
of the Kawich Gold Mining company
of Nevada stock; and 40 shares of Mer-
ger for 100 shares of the Topok Gold
Mining company stock; 100 shares of
the Merger stock for 100 shares of the
Manhattan Mizpah Mining company
stock, but this company refused to en-
ter into any agreement with the Merger
promoters.
L. A. D., Philadelphia.-It has been
difficult to get anything out of the man
agement of the Nevada BuIlfrog, but
we clip the following from a Bullfrog