Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1875-10-21
srOCk OPERATIONS.

O@.
payment to him.
STOCK OPERATIONS.
While the stock boards were closed
during the late panic not a few of oul
California exchanges expressed the be-
lief that 1t would be q good thing IL
they never opened. Two o. three jour
mails, notably the Record Union, are
still hammering away at the subject.
The chief point relied upon by the
Record Union is to the effect that mas
much ~ there ara swindles perpetrated
In stock operations the whole business
should be discouraged and suppressed.
Now while we are willing to go quite
-, far in dsnouncing bogus ransac-
lions In stocks and thieving by what.
over name, rs any one else. we
are arm In the conclusion that
the stock boards are conducive
Of vastly moro good than evil.
We assert it ~ . tact not susceptible OF
successful contradiction, that without
ths stock boards not one mine would
b developed where by the aid of these
agencies there are now ten in the full
tide OF operation. To erect heavy
pumping machinery and necessarily
expensive hosting works and mills,
hundreds Of thousands of dollars are
required. 1t il the rarest thing In the
world that private enterprise and cap.
ital can be induced to incur 90 great a
risk-mining at best being a hazard
Gus business. Under this state of af
fairs the only course left for the owners
Of undeveIoped properties to pursue,
u the incorporation of claims and the
assessment Of tho stock. There is no
other way by which funds can I've raised
70 place Q mine on Q paying basis.
Low priced stocks are, as q rule, soon
disseminated. aud in this n .
multitude of people assist in the work
Of development. Hundreds of mere
prospects have been in this way trans
formed into f~irst-class bullion pro.
duoers, adding millions to the wealth of
the wofld and carrying prosperity into
every branch of industry on the Pa
edo Coast. The following paragraph
from the Record Onion will serve to
show the character or argument en-
ployed by the prints engaged in the
crusade against tho mining interests Of
the COST:
The limo Of defense taken up by the
Journalistic champions Of the wildcat
operators II remarkably void of in
senuity, They begin by
confounding legitimate with illegiti-
mate enterprises. They boast that all
the prosperity Of the Pacific Coast is
due TO tho mines; and they next IRA.
tionally proceed to infer that therefore
wildcat mining and stock-brokinY
ought to be let alone, a. in some sense
holy. Now we take tho position that
by far the greater part Of the prosper
ity OF this coast has been produced by
enterprises which were not s~peculat-
I've; and that the best and safest min
ing properties are those which are not
quoted in the boards.
In other words, the Record Union
would confine all operations to divi-
dend paying mines. That is its posi-
ti0n and nothing more nor less can be
made out of it. Our bucolic contem-
porsriss may not know 1t, but they are
certainly engaging in a very foolish
warfare when they limit mining in
vsstments to ''the best and safest
properties" That means, il 1t means
anything, that . pick should never be
struck on the thousands Of unpro.
ductive but promising locations which
are scattered all over the Pacific Coast.