1 GOODWIN'S WEEKLY 3
1 THE MARKET AND THE MINES
I No fortunes have been made on the mining
k exchange lately, but tjiere has been a sufficient
( range of prices to give the careful operator cigar
, money. This is no time 'for triflers. The man
) who buys stocks at random and depends upon
a general advance of the market to carry his
selections to higher levels, may just as well stay
at home and save commissions. There is no gen
eral movement in any direction. Now more than
, at any other time in recent years every share
is stand'ng on its own bottom and rises or falls
according to its individual merits or demerits. To
jjj wring profits from such a market a trader should
I be equipped with information enough to stock a
111' Carnegie library. He should have a working
knowledge of every mine m the active listias
well as a broad undersfanulng of business condi
tions and the laws of trade. Such men are pick
ing up dollars in the pit every day.
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There are opportunities also for the investor.
By pui'chasing on the declines he can pick up
some gilt-edged securities at low cost, but ho
should be content to put them away in his desk
and ask nothing, excepting dividends for an in
definite time. There is no indication at present
pf a concerted price movement. The see-saw of
quotations may continue for weeks or months and
the only production that can be made with any
degree of safety is that the general movement,
when it does begin, will be upward and not down
ward. The steady expansion of manufacturing
and the inci easing productivity of the Utah mines
must ultimately affect all stock quotations to the
advantage of the bulls. Grand Central has been
an attractive toy for the speculators for a week
or two. They have been able to make It do al
. most anything. When they told it to lie down,
it Jay down; when ordered to sit up it sat up.
It rolled over and played dead at command. That
a stock obviously iworth 50 per cent more than
Its average selling price could be made to perform
In this docile manner! is one of the peculiarities
of the midsummer market.
& &
It is no violation of confidence and it is not
advertising to say that Grand Central is worth
$4 or $5 a share as an investment. The develop
ment of the newly-discovered north-and-south
ledge proves it to be a wonderful asset as big,
almost, as has been claimed by those who make
a business of boosting Grand Central. It has been
virtually demonstrated that the company is the
undisputed owner of an ore shoot more than sixty
feet long, fourteen feet wide and more than
100 feet high. This resource, added to the former
exhibit of the mine, gives it an earning capacity
much in excess of a normal return on the quoted
value of its outstanding stock. Its merits as an
investment, therefore, can be clculated in mathe
matical terms and is not confined to the opti
mistic expressions of its promoters. Considering
it from a speculative standpoint, much depends
upon the results that follow the crosscuttlng on
the 1,800 level. The exposure of the ore body
there, in all its prestine vigor, could not fail to
cause an immediate advance in price on any
sort of market, for it would prove the shoot to be
400, instead of 100 feet high. The success of the
operations on the 1,800 is, however, debatable.
The ore body may apex near the 2,000 level,
where It was first found and in that event the
bull speculator will be out his profit.
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If one may rely on the statements In the daily
papers, the winze started some time ago from the
300-foot level of the Colorado mine is displaying
same remarkable eccentricities. Three weeks ago
the statement was made that the winze had been
put down fifty feet, and was in shipping ore for
Over the Old Mormon Trail
by Trolley
THE BIGGEST TRIP OUT OF SALT LAIE CITY
Don't fail to take the Big Reti Cars fo Point Lookout from Second South
and Main St. at io A. M. and i P. M.
Car from Mt. Olivet every hourlrom 9 A. M. to 6 P. M.
OUR GROWTH I
An Evidence of Stability M
The growth of this institution is shown 'H
by the following figures: jH
January S, 1005 $269,992.99 j
June 8, 1909 $2,052,025.28
The Company, moreover, has Increased H
its surplus to $100,000.00, thereby making iH
its capital and surplus fund equal to $400- H
000.00, which, in addition to the first mortg- M
age security back of our Secured Certifi- H
catcs of Deposits affords our depositars H
unquestioned safoty. H
SECURITY! I
kidiafeg I
32 Up. Main Street. H
Capital and Surplus $400,000 00. H
I J
ESTABLISHED 1859
WALKER BROTHERS I
BANKERS I
' SALT LAKE CITY, UTAH B
Capital $250,000.00 Surplus $100,000.00 H
Safe Deposit Boxes for Rent. M
Fifty' Years of Successful Banking. M
THE UTAH NATIONAL BANK I
AT THE CLOCK CORNER
We respectfully solicit the accounts of firms,
individuals and corporations H
Savings Department and Safety Deposit Boxes H
W. S. McCornick, Pres. Thos. R. Cutler, Vice Pres.
R. T. Badger, Cashier. C. H. Wells, Ass't Cashier.
NATIONAL BANK OF THE REPUBLIC
U. S. DEPOSITARY
FRANK KNOX, Pres.
JAMES A. MURRAY, VIco-Pros.
W. F. EARLS. Cnshler.
E. A. CULBERTSON, Ass't Cashier.
Capital Paid In $300,000
Banking In all Its branches transacted. Ex
change drawn on the principal cities In
Europe. Interest paid on rime ,
Deposits.
JOHN A. KIRDV RUFUS K. COBB
R. K. COBB & CO.
Mines, Stockr and Bonds
17 W. 2nd South St., Salt Lake City, Utah
Membeti Salt Lake Stock and Mining Exchange
Orders Promptly Executed in All Markets 'D
Branch Ofiiceu American Fork, Logan, Utah; Ploche, Nevada iH
SPECIALISTS ON PIOCHE I
We are in daily touch with this great camp, and our
information is complete and accurate. I
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