The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1921-01-28
MARKET HISTORY
OF PRINCE STOCKS

Connections between present f.
nancing operations of the Prince
Consolidated, of Phoebe. and the fu-
ture course Of the company's shares
is OF current interest in financial cir
cles and the trading public is inquir-
ing into the history OF the Prince as
written on the blackboards of the
stock markets.
Students of price records find thar
In 1915, 1916 and 1917, when the
company was paying a quarterly di-
vidend of from IL to 5 cents, the
price ranged from ~ cents to 1.52
per share.
In 1918, when surplus earnings
were divertd into property purchas-
es and Improvements the selling
price averaged about 55 cents, unit.
October Then the shortage of cars
and the falling off in demand for
fluxing ores reduced shipments and
earnings to such an extent that the
shares declined.
From October 1918 until October
1913, the average market price per
share was A cents. The sinking
of the main shaft was then under
way. There seemed every probab-
ility that in a few weeks the COM
pany would be shipping first-class
ore from virtually new mine below
the water level, and the stock soar
ed, touching at one time, III IL.
Higher prices were maintained un-
TIL February, 1920, when the tight
ening money market and the enfor-
ced liquidation of all kinds of secur-
tiles drove the price down. Prince
shares, however, remained above SIS
cents until June, when the suspen-
sion of the shaft work, due to labor
disturbances and a poorer market
tions to S3 cents. Since that time
the price has fluctuated between 26
and 81 cents per share
The subscription by stockholders
of 100000 shares of treasury stock
at 30c per share. will open the way
to the sixth ore bed in the property
from which engineers, basing their
calculations on diamond drill cores
and the area of the other beddings,
forecast yield of more than 800
600 tons of ore with smelter value
of five or six million dollars. This
does not include the returns from
the highor grade ore in the fissures
Resumption Of sinking, with the
assurance Of vast tonnage of high
er grade ore, not subject to the IL
mutations which affect the market
for f1uxfng ores, Is expected to have
an immediate effect on the price of
the stock which should keep pace
as in the past, with the progress Of
the shaft. Freer money also is GER
tain to have its effect on stock val
ues.
II. as expected, the shaft connec-
ti"n is made in three months. and a
product yielding four to five times
tec net rroft realized from the fux-
lug ore is produced in quantities,
tlir point (which the rise in the
sttck will step, is problematical.
Assuming 'nat the increase in the
average net value Of the ore, the
market 'alrA OF the shares, based
on earning Jower, might easily rise
to several tollars, some traders say
Al, these considerations suggest A
market experience for Prince dr,-
Ing the Coming year which will be
interesting :nI may border on tr>
sensational
Stockho' d.rs have until Feb Il
ary 1 to take up their allottments.
o. treasury stock at 80 cents per
share and subscribers have three
months more to exercise an option
on additional stock at 40 cents.
The sixth ore bedding, now some
what less than 200 feet below the
bottom Of the shaft, carries ore that
Is said should net at the smelter
about $4,000 ton, as against 50
to - ton for the fiuxing ore, can
be mined at about the same cost
and in the same quantities, and q
always In demand regardless OF the
smelling conditions.
Mrs. Lena Faust will return to
her home at Delta next Monday, fol-
lowing q two weeks visit with rela-
tives and friends here.