Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1880-07-04
THE MINING BOON

THE HhNAE6
A faithful comparison Of the views OF
the leading managers Of mining properties
in New York yields conclusive opinion
in favor Of the improvement in mining
stocks at a not distant day. says the
Economist. The prevailing impression
appears to be that by mex. fall. or at any
rate soon afterwards, there will be a
movement in the mining-share market
that will place this class Of property on
the most stable basis it has ever yet en-
ioyed in this country Although there
il, Of course, more or less impotence to
know when the boom will be likely to
come, the better advised owners and op-
orators Of mines are practically content
with the assurance that it is certainly
coming, whether it come oouer or later.
These solicited and collated opinions of
prominent mining men are taken from all
quarters, the Western as well as the East
ern coast, and therefore represent a body
of intelligent, familiar, and fresh &C
q~uaintance with the subject such as has
rarely. if indeed ever, been presented to
the public consideration. They all unite
in n thing; namely. that a strong
market is rapidly building up for mining
interests, and that the fashion which has
hitherto directed investments to railroads
is in the act of changing over to mines.
The important thing to know in the
matter is that circumstances are working
together fayorably; that the present tend
ency is right; that mining interests are
continually receiving fresh accessions Of
strength. The element OF uncertainty
il all the time being eliminated The
speculative spirit exists still, as a matter
of course; there would be but a small
impulse to movements If that were wholly
taken away; bat it is held in such pru-
dent restraint in the face Of actual enter
prises involving immense sums Of capital,
that it no longer threatens to usurp legit-
innate control and turn into mere pawns
what are great and substantial properties.
The investing public are fast getting
down to the bedrock Of business in con-
nection with mines; it is no longer q dash
for . fortune or a reckless throw for luck,
but the planting Of money where it will
yield . certain profit and return a steady
income. People who are not reputed
capitalists, a. well as those who are,
have discovered that railroad shares are
susceptible Of the maddest manipulating.
90 that the market is liable at almost any
time to become an arena for strifes that
frequently terminate in insanity or sui.
eide as well as in mere p~ecuniary ruin.
A gamble in mining stocks can be no
worse in its effects than this.
In addition to the universal testimony
OF the experts consulted, that mining in
terests are rapidly gathering strength, it
deserves to be noticed also that in no d.
rection do they show any signs Of weak
ness. There is increased vigor all along
the line. A new inspiration seems to
have been breathed into the whole bust
ness. It is almost as if a new revelation
had all at once been made to the country.
There is . confident belief in the vast and
permanent value Of our mines of precious
metals which has taken hold Of the pur-
pose Of people to reinforce and direct it.
II there il uncertainty attendant ON min
ing, it's fairly to be said that it is a cer-
tain uncertainty; all mine owners know
that their good luck is liable to come
upon them unawares, superinduced, IS it
is, upon the regular profits Of steady
work. In this respect mining is very
much like other kinds of business, whose
average yield is comparatively reliable,
while its exceptional product may come
in through any door. Mining properties
OF known merit and present value are
consequently as sure and safe for in
vestors as any other. while they notori-
ously carry with them glittering prizes
for lavish distribution. The riaks are,
with sound management, on the side of
good fortune a. much as Of disappoint-
ment.
Another reassuring feature is the un-
popularity in our Eastern market Of the
methods which have prevailed at San
Francisco. thestock-deal included. Moth
ing Is heard Of this once very common
term now. which shows how completely
Il has gone out Of fashion. Neither is
anything actually said Of a boom. in
which managers dc net appear to believe
20 much a. they do in safe and systematic
management. which. after all, is the
surest method Of bringing a boom about.
Production is the object now chiefly held
up TO view by them, in which owners and
managers cannot but believe together.
The owners Of mining shares would soon
change their views to sober ones, if thew
were led to look for regular dividends
rather than high prices for shares. Min.