The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-09-08
PACIFIC MINING SHARES.
rim CIR COMPtNITS tNp cRtp'
uOETIIIR INPEDiINIS'

I
,,,,h,,r,t, Nnv York tor the special rur- |
.,,fd.,inei In the mining stocks "i the ia
,, s..,os ia received WIKI much favor h''''
.,,..,t .rl, nv the owner, and mlni'nlh"r- ~
viii cat mines. Those gcntr, welcome 'uo W.
. .ftbo new board M Valu ihle lly IN I''- |
Noting their schemes ami aniiri are "il'" ""
w., -, fine s,le OF their worthless shares I" |
r,atern dunes. On this coast victims are ne
,o,,,o, scarce; the hawks 1ud but tcN pigeons
,,l,,k and hawks anA pigeons like are grow
M liam and hungry. Conndiug outsiders IN
,ped % try their luck arc, IN fact. rare birds IN
ms latitude. and taey are getting rarer ana
,,rer every week: hence the satisfaction with
which new hunting grounds are welcomed IL
4, rn. Fix. ly that astutc business men IN the
Eastern states will be beguiled into Investments
which the mining sharps o. this coast VIII press
mon their attention through the new board
hut the stories put forward will be very plausi-
bic and may .ceiye men and women VINO can
N inord to lose their money In the swindles
that will be urged upon them.
II your people are wise in their generation
they will give the new board a wide berth and
let lis mining ventures severely alone. III they
must gamble they will do well to follow the
methods OF losing money with which they are
familiar for the turf. card playing ana olii'hru
matches are safe. Innocent ana prom 'u'e
amuseuents compared with the games which
Seriously there are so many fraudulent methods
/ connected with the business Of getting up and
managing mining companies In California and
Nevada. that the only safe course for outsiders
ia To stand aloof and refuse all applications for
| their names or their money
am unable to name the precise NUMBER OF
| mining companies winch nave been incorporh-
et in this State IN the last three years. out they
number many hundreds and are const ,ntly re-
| living additions starting wildcat mining
company I. cheap ana slmple tIaIisaVton. a
1 mining claim IL purchased Tor small sum, or hs
| .more frequently done claim Is bonded WIN
L the privilege OF purchase WITHIN. saw six months
Il The one of two original promoters brng IN I'VE
/ " six others tbeN selec name Tor me com
1 many. sign articles Of association. and ME the
| lecess ary papers 81 incorporation with the state
oil rd~. The & ipitll j. usually uAed AZ the
L modest sum II ten millions In lOVO shares VI
4 INatach. the mining location Is turned over to
Toe company al tne iate Oh one or TWO tuousahu
Il Lars 10 every one hundred paid or promised
/ tor. paid for IT, Inc promoters. OF course, ne
II come trustees aud IN inasers - the institution,
anu diVlde up the stock. An Office /, rented oy the
mon Do. ceriihcitrs Of STOCK re printed secre-
/ iarv. who's compensation depeLds upon tue
Il pumter II shares u stock he can sell, is en-
sa.ed. aud the company Is launched, the expense
Il w o. tni. point being about SaV whlch 10 con-
n uted 10y the promoters.
FoAting the Company IS a more difficult task
than the launching, aud numerous auxiiiaues
Il Are NV required to work of the stock Touts
are eu.ased Il liberal commission, shares are
bawAed ON the streets. on ferry boats. In street
II cars. aud Uairoous, and no re son bic offer re-
fused. lAnything from a DOH down To =
sun ut number are soil to provide work
ina capt. not to work the mine. but TO work
A tnestOcK boards, where fee OF S2jO to $500 must
be paid for listing the stock, aud whore orok-
ers must be paid Tor keeping the stock awe 10y
u wash sales at the boards. where, WI h clever
j haudhng. quota ions Of three, four, or more
II liars yer share can DC booked ana pAulished
Il In the newspapers aud stock reports. Actual
\ sales are made Whenever stray purchasers tutn
W and tue directors as a favor let their friends
IN At less tnan quoted rates. Al the money 'hat
can be rAked IN l. divided after paying the orr
Il gina small sum for the purchase OF the clam.
Il whoa is passed ~ 10 the company AT an extra
"A att liant all Ia 4 an 4k
II we'd from the sale u shAres. The Company
4 lie then abandoned to the deluded stockholders
b. the original promoters VINO take up a new
u claim and repeat the operation Of forming a he W
Il como.nN TIE whole Transaction would be "a
II r.liculuus farce II II were not for tue mi 4iy
Il when l. too often Inflicted upun ere dulpns IN, u
\ AMI women Dupes are at essential element 20
II tue success II the game snd dupcs are decided
II Is GROWING fewer nj fewer. and the lie of
Il slares Is very difficult. In FAC the business II
PLAYED out here with no chance Of an ealy re
II NiyAl, hence the desire to start n iu tn Las
n through the agency " New YORK board. lou
II M.h readily see that pl"cinE shstes IN tue New
Il lorA market would give decided impetus %
L tue formation Il Mild cat comptnie-. what
L ever money IN y be Invested ~ sucu saares vii
/ g. into the pockets q the California -hatps I
L ;st ~AYeuse 4 Eastern du.e
| lue formation OF mining companie- bc'n-
II sucu a cheap aud e .sy business, any ffe-h Quite
/ f,r the shares VIII lead 10 a OtO Of rev com
| psnies aud the resnscitaton Of many OH ones
| lue shares Will be Kept under street nitro
| here, a. active business ia wash sal Will he
| pax IN motion a. oar stock boards, aud quota
| tone run up to Slj or SO or any i-ure whici
| may suit to purpose OF Tue operators. aud tui
| fd,e quotations VIII be telcsrapyci to New
! York : actual sales with equally lsc notice
! Ol rich Irus poets and dev~iu. men's. iy thes
| aud KIN red methods an extensive ana y nhtt
| III ,ystem Of winding c n easily he carried ON
| provided tiwlys tnat p.rchtser- can De- foun.
| Tor tte worthless stock Win WING" tue H.
| viii be n1Yded.
lac IA r. Of re- putable Constock mine. hav
yaue. re largely dealt In a. oar -tlck Co., r. -
| and are of course III different cstegor, iron
the wild eats, nut even the Dest ut these nliae
| ar no. desirable rs iuvestn ents Tor the rei-u
| th-t lew paw diviiends. while many re u
fF lltt.a "a men
Il u!lues that have paid dividends IN ne past hav
L Il. exceeded tnirti months u dividend Weld
/ ins terms, and D. IL believed hy many mining i
1 g. rt- aud shrewd e. ck 90. ritor- tutt tn
inous Consohd .tsd virginia mny Is las
Il shares We f4llen frOn So, IN Janu r.. TO $50
the present wiring, .nd - II has paid out 81
"a divdemds In the int i'm. IT, lders Of snare
GATED fr IL $3.50 90, Ia January. e. S2,0m ID
A1sai' A ~ s5e.s ss'g si ana T'9 p,
nioltu. twenty hsr divurncs must br p-ii |
urn tine money invested Without ccun IT,
amthin- i'r the ris@ ana Loss 81 interest.
mine keep. w its Present T4te Of 0itIdrul
ffrt"o, even ON year longer, II Will 'htr,
det all past experience IN Clmstoca luIlIu.
culation even in the best Wiruc shares
eNuemr . zflous, unle.s one has Access I
g. INSIDE Ring which ntroIs every mine, W.T.
p'Ntr iu put TIA" shares ~ ur down ia u
n'"sei, 10 .",c.l.'oi' at a i'stsnc,' "n
.@rinrn inai prevail here, the rlsk IS H. GREASE
Inc loms'Dck mine. are work "a upon "a g,
tom "h.,h wluid not pe tolerated IN any othe
country AID NLl.4 l- yeff u.falr 10 It Yckuul'
err VINO d" outside Il he mau geri II Ring,
"a" IRONS on tue product ol tine uine goes
enucu the managers. or trustees aa they ~
usually STYLED. Ines- ~ s0re. manage to owi
lease or % herwi-r con rot tie u.ii. tn who
: the IRE Is crushed ana Tue bullion extracte
lne charge for mlllng In \r-iuih City Is IKE
At Sia yer ton, winch leaves pruht # over II
operation. he selection ~ f. MN mills ben
'"Hti 'Hed bi lhr managers OF "a" mines Wi
| u-e Their weI of ,clccfll % to their own Iruii
T. 4 % 81 / Ia O. ~ ned Dr la