The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1880-02-24
[From Saturdays Daily.l
MINING INVESTMENT COMPANY.
An Association Formed for Buying and
a.N sr-g Selling Mines. .


oSSHo III pLS LNph oih
Mining Investment Company, a MINEE re-
porter yesterday sought out the gentleman,
when the following information was ELECTED
relative to the purposes of the new organiza-
ton:
Reporter. Is it true, Mr.. Hildeth, that you
are here for the purpose of investing in min
ing property of this district?
MIR. Hildreth. Not exactly. l have been
sent here to examine some of the more vall,-
able properties of the camp which may be for
sale, and transmit a report on the same to the
company in New York. l am not empow-
cred to make any purchases.
K. What is the nature of your organiza-
ton, and why was it effected.
MIR. h.. 1t is a regularly incorporated COM
pany, and its purpose is to buy and sell mines.
Seven bank presidents Of New York are MEM
bers OF the organization, besides other
wealthy business men. To be candid, they
have got the mining fever, but they
propose to take advantage of their past
experience in mining operations, which
has been a bitter one, and make theil
Investments on a different plan. There are
hundreds of Western men in New York
endeavoring to dispose Of mines, nine-tenths
Of Which are valueless, but this does not
prove that there are no good mines in the
country, so instead Of buying worthless
properties on false representations, the in
vestment company was formed, with the
intention Of sending out trusted agents to
examine properties which are not brought to
New York for sale, for our opinion is that a
man who owns a really good mine is
not particularly anxious to sell il.
These agents have been distributed
throughout the mineral sections of the W est.
l have been deputized to act in Montana and
Idaho.
r. When you discover a good mine which
can be bought what course do you pursue.
Mr.. II. | examine it thoroughly and send
in a report to headquarters. If the company
think the mine worthy of attention agents in
other parts of the country are instructed to
visit the mine in question and also make sep
arate reports. Ifthey agree as to the value Of
the property arrangements are made for its
P"iS1iS'oS ~ IN Y . iliiC VI solo
again. Our aim Is to take few chances and
we will buy nothing which is not on a divi-
dend paying basis or which can not speedily
be made so.
r. What is your idea of the Butte dis
trict?
Mr.. II. Ian very favorably impressed. The
Alice is certainly a great property, and its
stocking in New York will have the effect Of
drawing attention to the district.
R. Why has Butte been so long neglected :
Mr.. H.. Partly because of its extreme iso.
lation and partly because it has not beer
advertised so extensively as other camps
The men here appear satisfied with theil
mines, which is the best evidence of theil
worth, and are not given to blowing, whicl
is characteristic of the average mining camp
But Butte has a bright future. The railroad
will soon be here, and the MINERS weekly
summary of the mines is beginning to attrac
attention.
r.. Have you selected any mines for pur
chase yet?
Mr.. II. No.. l have seen some l SHOULD
like to report on, but the consideration asket
Is too high.
r. You don't expect 10 secure a dividend
paying mine for a mere song do you?
Mi. II. By no means; but the trouble i
this. A man who has a claim on which IL
has a one hundred-foot shaft, with perhaps
three-foot vein Of ore, will ask as much 70
the property as though it was fully developed
r He p%resupposes that the vein is continuous
whereas the capitalist takes nothing for grant
. ed; and will buy only what ore is in sight
. should either be thoroughly opened up an
the ore exposed, or else should be offered ft
sale at a reasonable figure. We do not quill
r bic about the price, but do not prt
a pose to buy ore which is not in sigh
Every man seems anxious for Cal ital t
: come to the country but also anxious for hi
neighbor to offer the inducemeni. Tie II
suit is that no one will sell and capital doe
not come. We have 10 desire TO buy IA min
for less than its value but the men in thi
camp who own a number of properties shout
have discrimination enough to know that b
selling one Oh two of them at a figure such
we will pay, their other mines will be S
enhanced in value by the introduction of cal
llal that The difference will be made up
. them ten fold. To all extent capitalists al
:, like sheep. They travel together, and if 70
can induce some of them to invest in this di
trict you will have little difficulty in stint
, lating active mining operations.
A Zulu youth cannot marry a girl until
has whipped all her brothers and given HI
father a fall, if demanded. This makes
courtship more exciting than chocolate carr
nels and gumdrops but the Zulu Made