The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-01-02
BUSINESS OF BROKERS
GOOD IN DULL TIMES
MANAGER TELLS OF LARGE
VOLUME OF BUSINESS
LAST SIX MONTHS.

Few people realize the extent ant
importance Of the mining brokerag,
business transacted in Wallace. TIL.
fact that the Wallace stock exchange
found 1t necessary to suspend public
calls probably created the impression
in many minds out Of touch with the
real situation that there was very lit.
tie trading in mining shares. AS a
matter of fact, even In places where
exchanges are maintained the bulk OF
the business is done off the board
the call serving to keep the public ad
yised upon the trend Of the market
Outside of the noise Of bulls and bears
in the large stock exchanges during
periods Of active bidding, trading in
mining shares Is noiseless business
Persons who are inclined to invest or
prone to proclaim it from the house
tops, hence a large volume of bust
ness may be transacted without the
public being any the wiser. And so 1t
appears that right here in Wallace,
while many people are complaining of
duh times, the mining brokers are do
ing surprisingly large business. A
very definite idea of this was obtain
ed this week In the course of a con-
versation with Henry B. Kingsbury,
manager of the brokerage department
Of the o. A. Olin company. Mr..
Kingsbury gave some rather surpris-
ing figures taken from the books of
the company covering the last six
months.
Volume Of Business.
Since the first of July the O. A,
Olin company has handled 1,150,5O0
shares OF mining Stock said Mr..
Kingsbury. "This includes $4,000
shares Of Old Hickory Mining COM
pany and also 425.OOO shares of stock
held by the company on the date Civ
en-. This stock at the times the sales
were made had a market value of
$224.246.56.
"The above figures convey very
distinct impression Of the Importance
of the brokerage business in Wallace.
AS the Olin company is one out of
five active brokerage houses in this
city, the figures give very definite
idea Of the extent of the brokerage
business here. The business of Wal
lace Is about evenly divided, hence it
Is reasonable to assume that all the
brokers combined have handled s.
752.50O shares of stock during the last
six months of the year. having a mar
ket value Of over $1,121,230. This of
course, does not include the many
thousands of shares that have chang
ed hands outside the brokerage Of
fees.
TT should be borne in mind that the
period since the first of July has been
the quietest time in the brokerage
business We have had everything
against us, particularly the sale of
Liberty bonds and support of all war
activities to which all loyal people re-
SPohuVu ihSiS ptth ho SpeCloi
run on any one stock, as frequently
occurs during boom times but the
trade has been general
When Shrewd Traders Buy.
"A surprisingly large number of
,hrewd traders have come into the
market during this depression in
,tocks. These buyers usually become
he sellers during an advancing mar
set. One of our clients, who is anI
,mploye of one of the mines, 1t is |
afe to say is worth $4,000 which he
las made trading in mining stocks,
aking advantage of all market de-
'ressions and selling on the booms.
Il believe the early spring will see
much activity in the local stock mar
et. Brokers all over the country are
cry bullsh as to the future, Big
noneyed interests are picking up
neritorious stocks and bonds on every
eaction of the market, and pool in
erests have been much in evidence
{ late on the New York stock ex-
hange and curb"