Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-11-01

The Growing Interest In Mining
Investments.


All Of our Eastern exchanges agree that
much attention is being turned from that
end Of the line to the mining interests Of
the Pacific coast. The Engineering and
Mining Journal professor Raymond's
paper), treats the subject at some length
in its issue Of October 10Th. The article
will be read with interest by every mining
community:
Our Eastern capitalists seem to be Of
one mind upon the question Of the next
sensation in the investment line. They
all, even those who rave no idea Of ever
investing IN mines, are csnvinced that
mining, and for the moment gold and
silver mining, is the field of the next ex-
element, and that in it more Fortunes will
bs made-and lost-in the next five years
than in all other branches of industry.
The gro With Of interest in this branch Of
industry has been exceedingly rapid with
in the past few months, and 1t will. un-
~questionably, before long eclipse that in
railroad and other securities which have so
thoroughly Disguised investors since 1873.
As the exponent Of this great industry,
and as having the most intimate expert
knowledge Of the intrinsic value Of min
ing as a business and an investment, we
hail this reviving interest as the immc-
date f%orerunner Of good times" In no
other business will ar investment, judi
ciously made, yield anything like as good
returns, and there is no necessity for pru-
dent investors to assume exceptional risks
in the attainment Of the most satisfactory
profits. That investments made upon ru-
mors or statements, circulated by inter-
estrd or non-expert brokers, 'that--
stock will advance" should involve losses
to the too confident capitalist is mot at
all surprising investments made in
any other direction in the same reckless
manner would also do so. There are . few
really valuable mines now quoted here,
and there will before long be several others
that can and will make public satisfactory
evidence of their value, and will publish
periodical reports stating the progress Of
work at the mines and the amounts ex-
pended and received for ore. etc. These
statements, made officially, are capable Of
yeritication, and are o great safeguard to
investors; and only those mines which
make public such periodical returns offer
the information that prudent men should
require before parting with their money.
There are plenty Of good mines to invest
in, and there is no occasion for such haste
in making q purchase as will prevent the
investor from obtaining the most undoubt-
ed evidence Of the value Of property offered.
Thu interest in mining investments il to
be encouraged and put upon q permanent
basis only by making them remunerative;
and it has been. and shall continue to be,
the constant aim Of the Engineering and
Mining Journal, =" which has no stock-brok-
ing or other conflicting interests, to give
such disinterested information as may put
investors o n their guard against the bogus
or over-valued enterprises that are already
seeking to beguile the coniding Of their
money; and to reiterate the not unneces-
sary advice, that mining investments. to
be remuaerative, should be made with
prudence and knowledge. When this con-
dition is fulfilled, they are, without doubt.
much more remurative thar those in any
9TH branch of industry. Mines can be
purchased at any time ut figures Upon
which they are and have been paying mot
that they can or will pay from two to five
per cent. per month net profits, while any
developed mine which has not in the past
paid any profits. is merely q prospect"
and the greater the improbable devel-
opments the poorer the prospect.
No doubt tue development OF ''pros-
pects." when great care is taken in their
selection, may b., and often is. exceedingly
remunerative. though it il, Of course,
more OF less hazardous !; but. as a rule,
prospect holes" which come on the mar
ket are valued as il they are mines, and
the public is asked to pay for them their
prospective value as measured by their
most %sanguine promoters. 1t is needless
to say that such "mining Investments are
simply throwing away money. and are most
injurious to the growth Of a permanent.
legitimate interest in the most profitable
industry the world has ever known.
We would also repeat our warming to
capitalists to beware of investments in com-
panies whose management refuses or fails
to make public the fullest information for
the benefit of its stockholders those close
corporations which bore ahead with the
diamond drill-an excellent precaution in
itself--and whose managers let the public
and their own stockholders know what has
been found only after they have manipn-
lated the market for their personal benefit,
are wholly unworthy Of confidence. Min
ing is q legitimate industry. and there is
no reason why its management and bust
ness should be conducted in this secret
manner, which encourages gambling and
dishonesty. any more than hat a bank, q
railroad. an insurance company. or any
well and prndently-manased business
above ground should be manipulated for
the special benefit--as, alas but too many
are-of their directors.