The L. M. Sullivan Trust Company, of which I was vice-president and general manager, was doing remarkably well. The stocks of the mining companies that were organized and promoted by the trust company were listed on the San Francisco Stock Exchange and New York Curb and showed a market appreciation of $3,000,000 above the promotion prices. Indian Camp, promoted at 25 cents, was selling freely at $1.30. Jumping Jack, for which subscriptions were originally accepted at 25 cents, was in hot demand at 62 cents. Stray Dog, sold to the public originally at 45 cents, was active around 85 cents. Lou Dillon, put out less than a month before at 25 cents, had worked its way up to 64 cents. Silver Pick Extension, which was oversubscribed at 25 cents and commanded 35 cents two hours after we announced that subscriptions were closed, was selling on the exchanges and curbs of the country at 49 cents. Eagle's Nest Fairview, which original subscribers got into at 35 cents, was very much wanted at 65 cents. Fairview Hailstone, floated at 25 cents, was in constant demand at 40 cents. Governor John Sparks was now president of all of these companies. You could have sold big blocks of the Sullivan stocks at these profit-making prices on any of the mining exchanges and curb markets of the country without reducing the price a cent, so constant was the public demand and so broad was the market. With the exception of Bullfrog Rush, for which the Sullivan Trust Company had refunded the money to subscribers when the mine under development proved to be a "lemon," every promotion of the trust company showed investors a handsome stock-market profit. In the aggregate the promotion price of the seven Sullivan mining companies figured $2,000,000 for the entire capitalization. The market price of these was now $5,000,000, or an average gain of 150 per cent. It was a record to be proud of, and I _was_ proud of it, not alone because I was vice-president and general manager of the trust company, but also because a firm of expert accountants, recommended by the American National Bank of San Francisco to examine the books of the trust company, had reported that our assets were $3,000,000 in excess of liabilities, all of which had been gathered in about ten months' time. About $1,000,000 of this represented promotion profits. The remainder was earned by the appreciation in price of mining securities carried or accumulated through the boom.