The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1880-08-11

WHEN THE HERALD began the pub
LEGATION of the list Of mining COM
panies incorporated in this territory
within the past eighteen months, with
the uames of the incorporators and
the number Of shares credited to each,
together With the par value OF the
shares. there was something of q
flutter in certain quarters. 1t seems
that some persons do not like it known
that they are engaged in the organi-
cation OF mining companies, or at
least of the peculiar kind of compa'
MES with which their names are asso-
cia!el. We have heard their squeals
and read their complaints. These
gentlemen profess high regard tor
the mining industry. bat with re-
marksble inconsistency charge that
this journal desires to iDiure the in
dustry by its publication of the list OF
mining companies. Il the business
is sucL a grand thing. why should
these persons object to being known
in it? If their companies are honest
and legitimate, why should the or
ganizsrs find fault because the public
il being made acquainted with the
corporations2 If the shares have any
value, or the valne which they profess
on their face, why are not the hold
ers willing TO let the sum OF their
wealth be knowni Man does not
generally, in stating the sum OF bis
possessions, put the figure under the
facts. The human inclination to ex-
aggerate usually leads the individual
to add about one-third to the COM
bined value of his property, except
on the occasions of the tax assessors
visits. The fact is, the men who COM
plain at the EERALD's publication Of
the mining company roll are not en-
gagged in mining as Legitimate In
dustry. They are not honest in the
business, and they know it. Those
who have bsen instrumental in or
ganiziug good companies with coed
properties back of them, can see
nothing wrong in the news being
given to the public. They are proud
OF their connection with the corpora
tons, and happy III the knowledge or
belief that their stock certificates
represent real value. They regard
themselves as lucky, and the wider
the facts are spread the better they
like it. The man who puts ten
million dollar value on a hole in the
ground that cost only a hundred dol
lars. and which has little or nothing
at the lower end to indicate valne, Is
the one Who squeaL when the
truth is told. he is the
one who finds Iault at the HERALD's
publication, and tries to direct atten-
ton from himself by charging that
this paper is trying to injure the
mining industry. The public is too
sharp to be blinded in this manner.
The HERALD is the consistent and
constant friend of mining and the
miner; but it lie the enemy to cheats
and swindlers. In CHANGING over the
list of ineorporators We find many
familiar names, aud opposite to them
figures representing thousands and
even millions OF dollars. Some OF
these names are known to belong to
persons who are, in the free scceptation
of toe term, psupera; men who are
represented as owning mining stocks
worth hundreds OF thousands of dol
lars, cannot to day pay for a meal, or
hire nights lodging without borrow
ing the money necessary. Others are
il debt for more than they ever ex-
peot to pay. Does anybody call their
connection with mining good thing
Tor that industry? II they would go
to work with the pick and shovel and
prove by the sweat OF their brows and
the eallous of their hands that they
were interested in the development OF
the mineral wealth of the country,
We might respect them and believe
in their proiessed honesty; but 60
long as they sit in offices and organize
companies, issue untold millions OF
stock with nothing behind it, and try
to gull the public into purchasing
the shares, no one should be asked to
place confidence in them or their
alleged mines. These are the men
who are really injurious to the great |
industry of Utah. They are the ones
who care not a iarthing whether q
worthless claim is sold as mine so
long as the money finds its way into
Their pockets. They would gladly |
see mining here receive its death blow
if by that blow they could become
suddenly rich. While they profess
deep interest in the industry and are
greatly agita:ed over anything that
threatens injury to development, they
lose sight Of ths fact thAt the sale,
through fraud and Misrepresentation,
OF g worthless property ioficts deeper
injury upon honest mining than any
publication can do. The
herald has but one object in view in
its serial publication now progres-
sing, and that object is to benefit
legitimate mining, and injure the
crooked kind. No good
property can suffer from what We sre l.