Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-02-09
ACTUAL AND SPECULATIVE VALUES.


ACTUAL AND SPECULATIVE VALUES.
Latterly, as II realizing the necessity
Of having a say In all matters, whether
or not II knows anything about them,
the San Francisco Call has been pub
fishing comments upon the stock mar
ket aud the Comstock mines In partic-
ular. Il has. for q reporter Ia this llne,
a sardnt OF the bear persuasion, whose
sole business would seem to be to cry
down our mines and freeze out the 40
called outsiders. This a~ntediluvian
makes some astounding disclosures
which to residents OF Virginia and Gold
Hill appear about as authentic and We
racious as the travels OF CULVER"
For instance. In Sunday mornings H.
sue It says OF the Crown Point, lit
seems certain that the orc body Ia this
mine Is giving out" an old and
tiresomo fiction which, from the
first day upon which the Crown
Point mino declared 4 dividend has
been dinned Into the popular ear by
that class OF mlsanthropes leither real
or affected who have no faith In any
thing, nor hope for the future. This
class OF monstroslties would doubt
their own existence, were IL not for
the board bills periodically presented,
the endeavor to llquldate which Is the
INSTANTLY recurring trouble Of their
being. The Crown Point niue IA
giving out $500, 900 net prof. per
month, aud gives promise OF perma-
hence. Enough ore Is In sight to pay
for the whole mine at present prices,
and the end Il not yet. The Beleher,
Its fellow. and the best mine In the
world. Is still ''petering' to the tune
Of $500, 900 per month net profit, or
about . per cent. on the value OF
It's stock In the market. And
vet stocks are too high? or ophir this
melancholy Dane lugubriously says:
The fact Is simply that several oper-
ators are loaded with the stock at from
Si5 to $50, aud are moving heaven and
earth to get rid OF II without loss"
We do not know what heavy operators
are doing. but we do know something
OF the mlno aud have weekly pub
lished faithful accounts OF its con-
dltion, obtained from sources we knew
to be reliable. 0phir ut $3.50 per
share. Is selling at 81. 700 per foot. A
large body OF pay ore has already been
developed. and this mine bids fair to
resume Its long vacant position OIL the
dividend paying list. 10 those who
claim like the Call, that n mine has no
speculative value, We have nothing to
say. except that such Views would de-
stroy all mining. Mines have a value
proportionatc to their location, their
contiguity to ore bodies, their nearness
to developed dividend paying claims
and their prospects either more or less
remote Of producing bullion. Aud ex'
p~erlence In this section has d%cnonstra-
ted that to a certain extent these facts
are and rightly should be bases for val
uation. Who can tell the actual value OF
the B.lcher. or ofany mine, tia extent OF
whose ore body has not been ascer-
tanned? How much was it worth, ao-
tually. the day before ore was dis
covered therelng How much a day
n week, n month after? How much
Is a piece OF undeveloped land worth 7
How much after blowing aud seeding I.
How much before harvest. whsn we
take into consideration the contingent
cies OF reaplng a full crop' just so
long as business 10 carried OH. no mat
ter Of what nature. there will he spec
ulatiye values. In fact there Is no
other save gold. the measure Of all.
The value OF real estate Is measured
by n certain state OF facts. Ii depend,
thereon. So with mines. Although
TO q greater degree their value depends
upon their product, yet there Ia, there
must DO some value la the prospect oil
such product. This Is speculative
value, and to our mind exists and
,,.y Ia measnred the same as other
values which more nearly approximate
the actual. And for the prosperity oil
our mining interests, the progress oi
research, for the millions thu, tar pro.
duced. rs well a. To unearth the untold
wealth OF our mountains. we are glad
to know that we are not alone In our
theory and belief.