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GOODWIN'S WEEKLY 7 fl
I A Practical Proof.
The steady growth In ap
preciation of the Investment
value of our 6 Secured
Certificates Is well evi
denced by the incroas
i n g number of Investors
who regularly place their
surplus funds In these secur
ities. Throughout the years we
have been furnishing these
Certificates to the public no
customer has ever lost a dol
lar or waited a day for pay
ment of any principal or In
terest. Salt Lake Security
& Trust Co.
32 Main Street, Salt Lake.
The Utah State
At the clock corner
We respectfully Hollclt the account
of flrniH, IndlvIdunlM and
SnvingM Department and Safety
Joseph F. Smith, Pres.
D. C. Jnckling, Vice-PreB.
Heber J. Grant, VIce-Pres.
Chas. S. Burton, VIce-Pres.
R. T. Badger, Caqhler
H. T. McEwan, Asst. Cash.
C. H. Wells, Asst. Cash.
Tho chief rosult of experience Is
clearness of view In discerning the
fortllo soil on which to plant that
part of today's harvest sot asldo for
The wlso planting of pennies and
dollars In a savings account where
tho growth Is certain, Is making a
virtue, of necessity.
Planting therefore becomes not
morely an economic vlrtuo but the
"symbol and Instrument" of a man's
"Wo offer tho security and conven
ience of this bank for your accept
ance ? 4 Interest raid on Savings
The MERCHANTS BANK
i "THE IIAIVIC ON BROADWAY"
IS THE HOUSE WIRED
FOR ELECTRIC LIGHTS?
This is the first question asked by
those renting or buying homes.
A negative reply turns people away.
If the house is properly wired for
electric service, THAT is a big factor
in renting or selling it.
Builders are invited to confer with us in
making plans. Free advice by our ex
perts is part of the service we render.
Call Our Commercial Department
Utah Light & Railway Co.
"Electricity for Everything"
Mining and Financial
IF what everyone says must be so
the housewives will be taking tho
mining stock from tho pantry
shelves and pa will be demanding of
tho children what they did with that
"pretty picture with the red spot on
it" that they took from his waste
basket, before many more weeks have
gone by. "The mining market is go
ing, to be better after ithe holidays"
is the consensus of opinion. How
much sense there is in a consensus
neither tho dictionary nor Thomas W.
Lawson tell us, but a prediction oJ
better times is often a self-fulfilling
phophecy. If the public really means
what it "says of its faith in the market
it will buy some stock to be in on
the rise. As the buying of stock is
the only thing tho market needs to
start the rise and a rise is all that is
needed to cause more buying, ithe end
less chain will bo set in motion as
soon as the confidence boiler is heated
to the steam-making point.
tfet while everyone proclaims his
belief in a coming improvement in
market conditions there is circum
stantial evidence that some are en
deavoring to perform a laparatomy on
the goose that lays, or is expected to
lay, the golden egg. In other words
bear tracks have been discovered in
tho neighborhood of the mining ex
change poultry yard. The identity of
the marauders has not been disclosed,
but their purpose in evident from the
queer things that have happened to
Prince Consolidated and Opohongo
stocks in tho last fortnight. The
Piocho property has been doing splen
didly as a shipper and something more
than mine news must be considered to
form a theory explaining the loss in
the last two months of something like
1G per cent in ithe market value of its
shares. One sure thing is that the
gentlemen who lately purchased the
control have not given the support
that was expected from them. An
other point of weakness, it Is said, is
margining of large blocks of the stock
by local brokers. The 1C per cent fall
wipes out about half the margins and
cuts deeply Into the usefulness of the
stock as banking collateral. The
bears succeeded, about ten days ago,
in getting a sale on record at $1.45.
This was 40 cents under the high
quotation and there were palpitations
among the shareholders until a later
sale restored the cost mark to $1.55.
Opohongo has been selling for jU3t
a little more than the total of its last
year's dividends. There has been a
good deal of conversation recently
over tho poor showing of the mine at
tho 700 or bottom level, but this had
become an old story before tho latest
slump in tho stock began and carried
tho shares to G cents. Here again tho
bear tracks appeared. Some person or
interest has been unloading with scant
regard for the welfare of the market.
According to almost any theory of
values a mine with enough ore in
sight to maintain shipments for sev
eral months, with its ground from 700
feet down unprospected and no debts
is a better buy than a raw prospect
when offered at prospect prices, but
if a possessor of the stock insists on
giving it away there is no law to
Certain persons with long memories
claim that former stock booms have
been preceded by bear raids. The
first move in many a buying campaign,
they recall, has been made with a
sandbag. The symptoms of a bull
foray in the early stages are so much
like those of a bear expedition that
the best diagnosticians often are de
ceived, but the similarity Jon ends
and tho true character of t' j case ap
pears. Another week should suffice to
demonstrate whether tho actions of
Princo and Opohongo are in reality
due to weakness or are an uplift in
In its financial aspect the trading on
the mining exchange this year cor
responds very closely to the years 1900
and 1905. In the year first mentioned
tho total value of shares exchanged
was $2,238,472 and in 1905 it was $2,
31G.13G. The 1912 aggregate is $2,
238.G69 If history repeats itself the
shareholders will have no ground for
complaint. Following the 1900 depres
sion came the boom of 1901 in which
shares to tho value of $1G,7G0,8G0 were
purchased. And the low valuation in
1905 was succeeded by sales of $9,
479,983 worth of stock in 1906. There
is, however, a considerable difference
in the average value per share of tho
stocks traded In 1900 and 1905 and
In 1912. In the earlier years the aver
age share sold for about double tho
1912 price showing that the cheaper
issues have been gaining ground at the
expense of the higher priced offerings.
This is emphasized by a table giving
the number of shares of each company
dealt in. Swansea Consolidated,
whose price remained below 10 cents,
led all tho rest with nearly a million
shares and Union Chief of Santaquin
and United Tintlc, both low-priced,
came second and third with 722,518
and 694,008 respectively.
Tho disappointment of local sub
scribers to the first issue of Alaska
Gold Mines at their failure to get any
of the stock will not be assuaged by
tho reports brought back from Alaska
by Col. Jackllng, the general manager.
The program for tho development of
the proposition is moving along more
smoothly than most undertakings of
such magnitude at their Initial stage.
Col. .Tackling has had so much experi
ence in launching big low-grade min
ing enterprises that ho goes about the
task as methodically as a man winds
his watch. First there is tho power
to develop and a hydro-electric plant
of 5,000 horsepower has been finished.
The transportation tunnel which is to
connect tho mine with the sea is be
ing driven and plans for a 6,000-ton
mill aro worked out. This expeditious
progress is just what Salt Laker's ex
pected when they put In their Dias for
tho Alaska Gold stock and It will take
(Continued on Page 14.)
Signs indicate ji H
that 191 3 will WWh B
be prosperous. xiljM fl
May the New Sjljjflji I
"jjjj ij I
Year bring its Si ll'iU I
share of pros- ,3 !!!B
11 n"M I
penty to YOU niilimiii,
WALKER BROTHERS I
In The Tall Building" M
National Bank of the Republic I
U. S. DEPOSITORY H
PRANK KNOX, Pres. H
JAMES A. MURRAY, VIco-Pros. H
W. F. EARLS, Cashier.
E. A. CUL.BERTSON, Asst. Cash. H
CAPlTAIi PAID IN 300,000 H
Banking1 In all Its branches trans- H
acted. Exchange drawn on tho
principal cities In Europe. Inter-
est paid on Tlmo Deposits. H
McCornick & Co. I
ESTABLISHED 1873. H
General Banking Business Trans- M
Accounts Respectfully Solicited. fl
ASIC FOR H
St. Louis Beer I
It is sold everywhere and is the H
most popular beer on tho market H
As a beverage It is unexcelled. H
It is absolutely pure. HI
For nourishing and building up B9
tho system there is no better tonic Wm
Try it and you will want more.
C. H. REILLEY,
PHONE: WASATCH 688 H
216-218 So. State, Salt Lake City. jH