Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-12-17
BY VIM. II. TIBBALs. Phi D.

a the year draws to close it is
IN generally Interesting to look
~ back over the records of any
institution to see what there Is
of encoura cement or encouragement
looking to the prospects OF the coming
months or the now year, AS we con-
slider the records of the Salt Lake Stock
& Mining exchange for the present
year there is little of encouragement to
offer, especially If we compare the rec
ords with those made for the three pre-
ceding years. Then the business was
heavy. investors were making fortunes
and later losing fortunes. To find some
encouragement we should go back to
the year 1905, and then farther back to
1900. II viii; be observed that the two
years 1901 and 1902 showed n very
marked activity. It will be still fur
ther observed that the four years fol-
lowing 1905 were marked by increasing
activity
The total number Of shares sold dur
ing the first II months of this year was
16,55S,03i. which brought si.490. 636. "a
were 34.6SO,2l3 shares. having market
value of s17,2b7 .424.s2. These figures
show that the average price was very
much lower than that which prevailed
last year. The number of shares OF
stock was only little less than ono
half while the market value was very
little more than one-fourth.
MOVES IN CYCLES.
The lesson to be learned from the
records OF the several years is that the
transactions in the stock market move
In cycles Investors who understand
the situation usually take advantage
of these conditions. Those who bought
carefully in the several years when
stocks were down were able to realize
in due time very satisfactory profits.
In some years opportunities were Of
fercd so that the investor could have
bought any or oil of the Utah stocks
listed on our exchange and could have
sold out in few months ut a profit
OF from 100 to 500 per cent, and need
not have lost on any one of his invest
ments. The present occasion seems to
be one of excellent opportunity.
It. is very evident that the lack of
activity in the mining stock business
has shown itself In the bank Clonrlngs
OF this city. and In the somewhat re-
duced activity In real estate transac-
tons and building enterprises. When
ever tho transactions of the exchange
average $4,000 to 100000 per day the
clearing house shows Il considerable
increase. Investors are ready also to
put part of their profits into real es-
tate and general business.
DIVIDENDS DECREASE.
While the stock transactions during
the present year have not been so en-
couraging az many have desired, yet
the mining enterprises of the state
have not shown the market decrease
that one might expect from the lack of
activity in the stock market. Tho set
Elements for ore and bullion, as shown
at the close of each week. for the pres
ent year, have been very satisfactory.
Several of the leading dividend payeis,
however. have shown some decrease in
their output, but other properties have
increased their tonnage. During the
latter part of the year, however, the
output from Park City has been run
ming only about so per cent of what it
was for the corresponding portion of
the last year.
Table No. contains some facts Of
very considerable interest. In thu list
OF stocks we have given not all of those
which are called on the exchange. but
only those which have been somewhat
active during the year. In the list be-
ginning with Bingham Central Stand
ard there are included 10 stocks wnch
have been quite active on the open
board during the year.
SHARES SOLD.
Tho sales column shows tho number
of shares OF each of the stocks sold
during the first II months of this year
The next column shows the low and
high prices for the same period Then
come the low and high for 1909 and
1905. 1t is interesting to make the
comparisons. IT will be noticed that
there arc only two stocks this year
whose transactions have passed the
million mark. There arc few others
whose total capitalization has been sold
more than once.
Besides the 10 stocks in the unlisted
group several others have occasionally
figured In the transactions. Among
these we would include Utah Bingham,
which sold at 80 cents. uintah Treas
ure Hill and Alta Hcca. which have
been traded in at cents to 10 cents per
share; Phoebe Dcmijohn. which, during
the past few weeks. has been quite ac-
tive at encouraging figures: Thomp-
son and West Quincy, which showed
some activity at around Is cents per
share on account of the consolidation;
Utah Mines Coalition, Columbus EN-
tension, and n few others. which have
been somewhat active ut different pc
RODS, The open board offers oppor-
tunity for some business In stocks
which nrc not regularly listed. but for
which the holder Is seeking market.
Table No. . shows the comparative
monthly transactions for the four
years.
RECORD BY YEARS.
Table No. 3 contains tho records OF
the exchange from the year 1897. The