Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1879-01-15
The Sunshine Mining Company Once More.

Upon the very highest authority known
in the state of Colorado we were recently led
to believe that mining property situated
in that state, and represented as valuable,
which was being extensively offered fof sale
in Vermont, was not of character to render
an investment in it desirable. Deeming it
to be our plain duty to tell our readers this
fact, we did so squarely. There our duty
ended. But since that time our attention
has been called to several articles published
in Burlington papers, seeking to break down
the force of our statement.
Now it is well known fact that millions
and millions of dollars have been taken from
the East to invest in undeveloped mines in
Colorado, not one 1.-THE of which has ever
been returned to the original Eastern stock
holders. There is plenty Of capital in
Colorado, and plenty of shrewdness among
her miners and mine owners to absorb pretty
rapidly any desirable mining property, with
out seeking to hawk it about New England,
at from forty to sixty per cent. of its nom
inal capital. The fact is, the Eastern stock
holders live at the wrong end of the route to
ever know of the value of the property, or
the manner in which their works are being
carried on by their agents and executive
committees.
Another thing which lends an air of sus-
picion to this enterprise is the fact that IL is
proposed to raise a capital stock of 100000.
Now a very few thousand dollars would test
the capacity of the mine to considerable
depth, and from the point thus reached the
returns from the mine should, if worth $780,
900, pay all the expenses of running it. The
ore commands ready sale for its full value
at the very mouth of the mine, and competi-
ton is so sharp among the agents of the diff
ferent reduction works as to preclude any
possibility of realizing any less than what it
is really worth.
1t must be remembered too, that the high
sounding statement of the result of assays
of ore "said to come from some Of these
mines" doesn't begin to compare with the
prospectuses issued by former companies
now defunct without ever realizing cent
except from assessments upon their stock
holders. In an obscure corner of the safe of
nearly every prominent merchant in New
England may be found finely engraved GER
tifcates of stock in some mining company
in Colorado, with an npronounceable name,
and flaming inducements to subscribe. The
merchant occasionally glances regretfully
upon these inementos of his former folly
and consoles himself with the reflection
"Well, it was flush times then, and l could
stand it." 1t isn't flush times now
Again, we regret to see the capital so
greatly needed to develop the industries of
our own state diverted into other and for
eign channels Vermont offers to-day in
ducements for investment equal, we fully
believe, to those of any state in the Union.
The returns, to be sure, are not extravagantly
large, but with economy and good manage
ment they are certain, and beyond the pos
sibility of swindles by dishonest agents three
thousand miles distant.
But, as we said before, if any of our read
ers desire to invest in "The Sunshine Min
ing and Reduction Company" of Colorado,
they have perfect right so to do. AS for
us, however, even if we had any money, we
should prefer putting it where we could look
after it a little more closely.