New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-03-22
M,u,ux ON Lake Superior.

To ht Editor Of TIE Trtbune.
Much Of public attention and individual capital
and enterprise have for two years past been direct
ed to the mineral lands near Lake Superior. With
in that time II Is known that numerous Companies
have been formed explorations and locations have been
made and the stock In many OF them has been disposed
OF at large and doubt In some instances unwsrranted
prices so high did the excitement last year that
some of the leading journals felt II 10 be their duty to
caution the public against HdlsGtwfHdie investments at
ruinous prices. To this effort and precauuon OF the
press in degree but more especially 10 the Tact
hat the Government repudisted its own leases and
threw the whole TITLE In doubt may be attributed the
sudden and rapid decline In the price Of stock In most
not all the companies that had been formed Whatever
might be their value or merit With the judgment Of
the press the position of the Government and the con
don Of the tide the holders Of stock deemed prudent
not TO contend TWAS apparent that the fret and mos
important step 10 obtain law by which the title
might be acquired aud The result OF labor and capital
cured the proprietor whstevcr that result might be-
Such law has been passed by Congress most iavors'
BILE 70 occupants and easehodcrs by which the claims
Of all have been duly respected and secured and the
embarrassing OF all questions In the aner OF prop
erty has been etcctusy removed.
hut while this has been In progress of enactment the
stock has remained stationary, or DEPRECATED In public
estimation holders In some Instances have become i'm
patient realize anticipated gains expenses have been
incurred and assessments to some extent have been
made all of which have conspred 20 reduce the stock
In most Companies however valuable. to the nominal
price which itn0w bears
In this condition Of thngs the press, In my Judgment
win do public service lees prssseworthy than that
performed by last year caution holders Of stock not
to eel until they know what Its value is and what effect
the present law and tho experiments in the mining
Fion this Winter viii produce. have seen oommlnt
cations lately from gentleman upon the ground OF the
highest rcspcctsbty, written under circumstances
polling the Idea of the least attempt et Civ
Ing the asiterng ofthe progress of several
parties upon locations named, and placing their
Il would seem. beyond doubt
Aud am also eredbly informed that persons possess.
ing this Information private expresses this
CITY with Instructions purchase STOCK At the present
depressed prices before the whole facts made pub
Nc whereby those who induced TO sell win be
subject to double loss hrst perhaps by paying too
hish prices, and second by selling much below the
real value they paid above H. In either case the loss
the same and hence repeat that Il will protect Il
does promote the interest OF many persons both IN
this and other cities and In the country II the press viii
manifest the soeitude guard individuals sgains,
loss and imposition BY sacrificing their stock that did
when fears Of loss entertained from high and
cited values II may bet DC improper sdd that sm
and have been In any manner interested any
mineral company association near Lake Superior or
elsewhere. lhsve means OF information which believe
are not possessed by many who hold stock have ob-
servea the progress OF the mining operations and know
something Of the value sad extent OF the mineral
sources OK that unfreduented country desFie only
that thosc who possessed OF stock should sci
gnderssAndisgy and with caution, and not be induced
in the present seeming depression 10 part with iheil
s,cck 70 speculstors who act with knowledge and who
viii seize the present opportunity to secure the mos
valuable snds the least price for which they can be
obtained. CAUTION