Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-11-15
CACTUS SLUMP SAID
TO Be CURB SCANDAL
l1ct Mt Eighteen Cents n Shnro
-Oncc Seven Dollars,

Cactus ut IS cents per share! says j,
G. Templeton in the Copper Curb and
Mining Outlook. Has the bottom been
reached. or will it break through this
mark and go still lower? At one time
1t looked as IL there was no bottom and
that 1t would follow the careers Of such
stocks as Massachusetts Coal e Power
and National Mining Exploration and
sell down below 10 cents But the
sponsors for the stock evidently have
1t pcgged at rising 20 cents, and from
present Appearances are taking all stock
offered around that quotation.
One broker. In speaking of the stock
and Its possible market future, said to
me u short time ago: You can put 1t
1t down as fact that. the house which
put 1t out Is buying 1t In. The stock Is
being thrown on tho market by the
small stockholders and this, OF course,
signifies that 1t Is the public, and the
certificates are passing into the hands
OF the stock exchange houses. The
curb boys don't keep them. and the
public Is selling, not buying. What Is
the logical conclusion"
"Of course, the house aforesaid may
be buying tho stock as a matter of
public spirit, since 1t foisted the stock
on the public, following It's success with
Lake Copper. but It's safe bet that
they are not so charitably inclined, and
for that reason I have decided to take
Il ilier in tho stock for my personal ac-
count. The stock even at it's present
price. hardly discounts the showing OF
its Pinto shaft. and the Hamilton Is
worth something Then again. 1t Is
supposed to have large treasury sur
plus, and plenty of good Will. / OF
course assume that the stories regard
ing this so-called surplus are correct.
The stock, however, is largely Il gam
BILE"
This cnused mo to ask few ques-
tions around tho street and the boys
seem to be OF the opinion that the
large treasury account Is made UP of
a lot of bills receivable. etc, which in
the main are of little account, so that
company has much more than $4,000
to $4,000 instead Of the sl02 900 report
ed, Such II state OF affairs Is to be
dcplorcd and 1t is hardly likely that
tho firm which put 1t out with Il couple
Of other fiascnS to account for, will be
SO rcadlysfolowed into the market in
tho future. Even its success With Lake
Copper may be lost sight of In tho light
of what has happened to Cactus and
one or two more such fi2zlcs.
II does not follow that every time Il
firm takes charge of a proposition
that it insures immediate success. But
1t does seem thnt the Insiders should
have given out the exact status of the
| company's affairs before the grand
| slump took place. 10 make the state
mcnts pnbiic after the stock has slid
| backward from 81 to around 81 Is bad
| enough. But the sinking OF the stock
| down to IS cents Is pua.lng the brok-
| crs, who fail to sec why the stock
| should touch so low n level, even with
| the issuance OF the poor report regard
! Ing ore deposits. Yet, Hike all such
events, they are mysterious ana many
| things in connection with them ARE un-
| explauablc. But talking from what
actually has TRANSFERRED and s2ing ~
| the looks of the market for the stock,
| Cactus appears a mighty good gamble
mt around current figures.