The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-11-24
INNING MATTERS.
A Clear, Candid and Comprehensive
Examination Into the Interest.
Mining Real and Legitimate Partakes of n
Gradual Growth.

To The Editor OF the Sentinel: ~
S!s-The ceaseless desire Ofthe human heart
fo- money and possessions, to satisfy the
ever burning fire Of its passions has been one
IT the leading propelling powers of action
ana ambition. The records of early history
are sled with accounts of wars and CON
quests. by SEA and land, of homage and
slavery, OF piilage and bloOdsled. the real
spirit of which was to gain and
add new ac,uInulatiOns of n life time
Ruiers To gain new territory and power have
sacrificed the lives of thousands, and devas-
tated lands that were basking in peace and
prosperity, leaving them wrecks, where fire
an1 sword and greed have left the haggaTd
marks of their fury and desolation upon
the iresides and hearts of an outraged peo-
Dle. This mighty force for pIs session seems
JO b. like the element of human life,
blessing within the limits of its peculiar law.
and plague when outside OF itsorbit and con-
rolled 70 use against other established laws
and principles. success ever has been, and
ever VIII be- along the line of established
law. Al success in mechanics has come
from gradui acknowledgement of the laws
which govern every principle. The glim-
gner OF gold has ever been the flame of mans
desire for abundance and wealth. so that his
q tsOn is often blind ID and the truth covered
fro al, sight The recent advent of
accumulat,OnS and fortunes, and the eager
hopes to be so soon acquired, has in meas
ure again unsettled the Judgment and the
business habits of many men VIII in their
connections 10 other matters, must be cire-
ful and far-Seeing. This lGer DIES re for sud
den woIlGh has been the cause of much of
the confusion. and may say much of dis
aste-. connected with mining operations,
and lar more than any possible uncertainty
in mining itself. Men have gone to the
mining Ids with wild haste To scoop up
gold and silver as they would load sand on
the ocean be ich. To their surprise they fiud
the treasury in the Strongest saults of stone
tIat days and years of the hardest labor
must and can only unlock; the massive
mountains must be removed piece-meal, and
Tremendous labJr performed before the
reward is reach ID ut last. The great
rush for the mining countries is
stimulated by various caues. One
and perhars the greatest lever, is pile by
dealers in real estate, who throw oat leir
lines { draw in a crowd ID populac. to so ne
cente- of action for the b .nelit of hi sh pr ce
st whi they ar; enabled to get for their
surface possessions; in consequence of
which Thousands change the:r resid .nce aid
becom 2 one anon many % cu.se the cali
ingS % a mi ling 'untry. l. IS not strange
that Iant h arts, in view of ali tn sc OBJ
staci ss and demands that sta nj mountain
from the con emplat ON of the appalling
pictuFs There are, hOweve-, brave men
equil To the occasion, who fully cJmpre-
benu al tlat = Tequ. re ], and are prepared
10 pay the price that is demanded, but in a
way shat is proper, aud by aSSOciating them
Seiv's with corporations organized to
baite with all obstacl ; on the
stat GO upanics that are organized
70 pc { use prospecting work and
10 mine The ores of the precious metals with
view q. deriving q revenue from the ulti-
mate IfO iucts of their work and not from
the "a Is shares or gambling in the mar
gins az inst the rise and fall of the shares in
tie ~ > .eG [ mean by this to demonstrate
that = n successful organizations are organ
lzcd into Stock Companies just the same,
out the discriminating feature is upon the
basis OF their organization. For an inustr;l
ton \ Company of men may &C. ,uirc the
accumulation of means 10 pro ,ecute the
cOmpuSOry work necessary Ia be done on
"A reasonable capital stock, say. Sl,0pO,OOb
with a good list of territory Tor the work
ON the other hand, if q CORPORATION pre-
SCENTS itself with slO,OO0OOJ st eek a sen
sible man can safely say that il is t,
catch the money of the public by rea>O1
Of Unfolding in the market o.
the presentation of sach a. tbs E,tter there
are two views in which fair re IS nee CA
zee The situation. First II the prlg erty oi
4
Company do no. need 10 associate men OF
means to work it, as = pr jper y of that value
viii deliver on the dunn 3 of its expi Jril-
lions means to ran all of ITS expenses. and
you rarely such corporations Off.ring any
portion OF their stock for means to prosecute
their works; on the contrary. thy are or
gained by men who are already os -essed
of wealth sufficient to place all necessary
machinery and expenses and are placed al
once upon some Stock Board, wi h a great
long list of hOnorables, and rep ,rt Of some
blOated, and i might say not geologiSt.
who can not see farther into a rock than
than the humblest and most Hit "a per-
son IN the land. OF sucl Com anies l say to
the pupiic to beware
On the other hand, the legit mate DIT OSecu-
ton Of mining the precious metals is an
honorable and extremely pr 'ftlble calling
that viii justly bear investm ;nts as q mt ans
OF incre Ised realization of pO seSS Ons of any
business man, no matter how grelt or small
ms immediate resources are The genera
result If legitimate mining may be outlined
in few words. Ii the discovery of the min
eral is made by men of personal means then
the public do not become cognizant of the
fact, because their own resources arr drawn
upon To procure the necessary means for
furnishing the machinery for mining and
treatment of the ores. On the contra Y. if
the discovery of the mineral is made by men
OF limited means, there must be q business
organization created % acquire an accunula-
ton Of money for that purpose. Such an
organization, to insure Succ IS must be
under the co ltrOl of men who are
trGe to their cIlling and de ;Oted 10 their
undertaking and is correctly organic I'll
with Il capital stock that VIII be on an equal
of other numerical enterprises. The prop
crty of such Accompany must first be care
fully examined. and an honest estimate
made regarding what dividend the property
will pay when putin full production Ii il
will pay 100000 per annum. it is safe to
place the capital stock at Il, 900 900. Then
II remains for the holders of this property TO
say how much Of such stock will be suFren-
dered for the necessary means to prosecute
the work of production and Treatment If
they need $50 600 and are willing to give
half the capital stock iortbat money, it is
legitimate, and 30 much the better for the
investor. IL has been my personal obServa-
lion to notice that such Companies do not
seek to sell any stock other than that offered
through their executive officers, and are
legitimate and honorable business under
taking aud worthy OF s.,ect This is my
view OF tie business. and Is the plan adOp- ed
by the Colorado Cooperative PrOsp citing
and Mining Company and so long as I am
IN charg- OF its affairs, or ass ciated with it,
such shall be The circumstances of the Com
pany business. Believing tat such a pro
cedule viii win success, 80 aus il COM
preheiids the laws which are as fixed and
permanent as.the foundations of the ever
aSflur ffi anil are yE!lfrug IN .tlara