Weekly Arizona citizen., 1880-08-07
ouR NEW YORK DISPATCH.
An Active stock Market but nsenn in price.-Distrust of so-Oalien i.s- ,.,,. and A Disposition io"Aro' Conservatism.


 week has been active on The eNon"nse
 hosrds with a decline ID prices eX-
 tending throughout almost me ehllre
 list. Chrysolite fell from s' 70 o.a'
 then recovered to g and closed at o3i'
 The reports from this mine are decid-
 ly contradictory. and no one seems to
 know definitely the exact condition
 of inc underground workings. The
 officers of the company and h"iders of
 the stock say that the ore reserves are
 untouched and that the mine IS capa-
 bls of as large an output as ever.
 Many disinterested persons as well as every operator who is short of the stock. say that the mine Is exhausted and has not enough ore in sight to pay its indeb,endess Of over s200, GOO, say
 ing nothing about its paying divl- depds. The output of The mine has certainly fallen from about POO daily to 60 or 70 tous, and the unanswered
 
 iuouirv is If the ore Is in the mine. why do not the officers of the comps- nv, who are large holders of the stock and want the price to go up, take 1t out? Chrysciite stock IS even more widely distributed than were the shares of Little Piitsburg. and the de- cline has created much excitement and demoraiization among brokers, as we'll as stockholders 10 other mining companies. Little Chief closed last week ai 71S; declined to IF, and clos ed st the latter figure, and lhis upon the heels of its regular monthly divI- dsnd of s10O,OO0. Rumor has it that this mine, like iis neighbor CrysolIte, has been over-strained, and that for time dividends must be reduced or stopped altogether.
 In the face Of this condition of things the public are trying to find how much credence can be placed in the reports of mining engineers or experts so called. Within less than four months men eminent in their pro fession examined the Chrysolite and reported from $7OOO0OO to S20,eO0,- 600 in sight, and alter measuring the Little Chiefs ore bodies already ex- posed. reported $S,uOO,00O to $7000.. 900 in sight. Neither mine since these professed examinations has taken out $1,000,0O0. The question is, what has become of the remainder? Even the most sanguine no longer pretend that there is such an amount of ore in either mine. We're the experts simply mis- taken, or did they deliberately falsify their reports for consideration Did they report so much ore in sight for SO much money, or were they sim ply careless? Did they lend ihem- selves as varnishers of schem- CTS so that the promoters might unload upon the pubic at high prices, or in these instances did they only fail to exhibit tha; professional acumen with which they are supposed to be endowed? The only hope for the reputation of the experts IS that after all the ore which they reported is still in the mines, and the assertions to the contrary are but parts Of a stu pendous stock jobbing operation to fleece the public, and frighten the
 -,15fs into selling at low prices to those who want to cover their shorts. If the future proves that the experts were wrong, they may as we'll go out of business, so far as eastern investors arc concerned.
 Heretofore, the owner of prospect need do no more than bring his little deeds and the report of some so-called expert to this city and he could obtain audience and money without further investigation. This day has gone by, because wbat was formerly merely suspicion has grown into a reality that the experts opinion too often CO., incides with the desire of the man who pays the fee. and thst honesty cuts but small figure iu the writing of the report Ii is noto-ioas and dis graceful fact that there IS not wild rat l" enterprise which has been fioated upon this market that has not been endorsed and recommended by one or more mining experts. That Tepu- table and paying enterprises have like wise been endorsed cannot save the experts. Hereafter, when properties are to be exploited in this part of the country, sellers will have 10 produce further evidence of value than the ex- istence Of stakes, holes in the ground, and an experts favorable opinion. In addition, they must be prepared for a visit of inspection from prospective buyers, or their trusted representatives. The hslcyon days ut the undeveloped claim aud the culllble capitalist have departed. The prospectOr may get money for development, but he need no longer come here in the expecta- tiou ui making an absolute sale when nothing more cau be seen than sur face croppiugs-
 But stockholders are becoming chSry of mine managers and superin- tenden,s, ss we'll as losing faith in ex- pert testimony, and more careful supervision is being exercised. The public cannot understand how it is ! thst some superintendents are always about to strike rich ledge which l fhay never find ar how they can drift