The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-08-28
MINE ISSUES ARE
UNUSUALLY STRONG
Leaders Make Steady Gains,
With New Interest in
Cheaper Stocks.

The mining stock market yesterday
maintained its strength with the trad
ing covering an unusually wide range
for Saturdays single session. Iron
Blossom sold at IS cents and SO cents,
with owners OF that stock generally
holding for a higher price; May Day
went 10 cents. new high level TOR
the present movement while Lower
Mammoth sold up 10 20 cents. Utah
Consolidated was again active at
cents 10 "a cents, Cedar TallSman was
strong at 10 cents. Columbus Gonsoll-
dated was firm at 50 cents. New YORK
Bonanza brought 90 cents and Colorado
was quiet at 40 cents TO Al cents.
The feature OF the week, aside from
the steady advances OF Iron Blossom
and Columbus Consolidated was the
new interest in some or the cheaper
stocks. With such issues as May Day,
New York Bonanza, Utah Consolidated
and King William showing market ad-
vances Of 100 per cent and better
within a few weeks time, the specula-
tive possibilities of the cheaper stocks
have become factor to be reekoned
with.
These advances have been made pos
sible by reason OF prices having been
permitted, through sheer neglect, 10
fall far below actual Yalues-in some
cases below the value Of mine equip
ment alone. Such being the case, lit
tie is required in the way Of new de-
issue. And in many cases, after that
has been done there is left room for
material advances before there is dan
ger Of the prices becoming too high TO
make the issues attractive investments.
There is special reason for May Days
sudden gain in that the company Is
Tesumlng work in the lower levels of
the mine, where there appears TO be an
excellent chance 10 open a new mlne.
In addition TO that, IL IS learned that
q half score of leasers on the prop
erty havs been making money during
the time that company work has been
in part suspended.
Reasons for Activity.
Utah Consolidated. of Tintie. has en-
countered a cave in its new tunnel.
which affords an indication that 1T is
In Ore-making ground. New York Bo-
nanza is drifting in three and MALT
feet Of mineralized material which
looks as though it might make into ore
al any time. Plans are on foot for
resuming work in King William, which
has promising deep workings in close
NAL Eureka, Eagle & Blue Bell. Vic
tOria and Grand Central. South Co
lumbus, aside from having improved
mine conditions. is arranging to merge
with Alta & Hecla, the merger includ-
ing a financing arrangement. Cedar
Talisman continues TO develop more ore
In preparation for larger production.
ore developments In Columbus CONSOLE
dated appear 70 more Jhan warrant the
good advance that stock has made.
To the continued reports of mine i'm
prOvements was yesterday added the
rumOr that Iron Blossom might in
crease its dividend. This may be not
true, for the reason that Iron Bios
som yet has a great deal of develop
ment work tc perform. but it is given
the appearance OF foundation by unof-
fetal claims which have been made
that the company is earning every
month enough TO pay its entire quar-
terly dividend.
Total number of shares sold. Satur-
day, 30,440; value S5.l11.30. Totals for
the week. 327,TS9 shares OF the market
value of S750S923.
Closing quotations and the days
sales: