Weekly Arizona citizen., 1880-07-24

NEW YORK, July 22.-The extremei,
 warm weather prevailing here has in
 terefered with business on the Mining
 Exchanges. Many of the prominen
 hgokers sre of attending the races, o
 seeking recreation al the watering
 places. Prices of mining stocks hav'
 drooped. and this tendency prevails
 with transactions aggrggIting abOu
 60OOO shares daily. No marked in
 crease in volume of business or II
 value need be expected before Septem
 Der. To speculate regarding tho
 causes Of the decline is useless Hardly
 @ single stock has remained steady
 and each Las special reasons of its
 own for dullness. The regular divi
 .3e~i paying shares are no exception
 and they sympathize with shares
 which never have and Eever will pay q
 dividend.
 But the stock market IS DO criterion
 by which to judge of the interest in
 mining in this city. Only minority of those who are interested are specu-
 lators; the majority have bought for
 Investment, and they pay little heed to the street fluctuations. They have ac- quired their interests almost without exception during the past year, and those who have received no dividends, are awaiting the results of develop ment work now being prosecuted on their properties. New York capital Its are cd walters and persistent stsyers, and with these prime requis- ites there need be no fear that mining will lose it's tooth old among them. A year ago il was dIscreditable to be known as holding mining stocks, now It is the reveTse, and the man who is not interested in a mine wants 10 ac- quire an interest. With so large an amount being regularly disbursed in dividends, and the probable addition 10 the list of many other paying mines within few months, there is no dan ger that the sentiment will change.
 The fact that so much capital from this locality has gone into mining renders it difficult to sell mines here at present. All has been absorbed that can be persuaded, until the seas on's work shall determine whether the ventures are to be profitable or other wise. But New York is not the only city having surplus capital, and although il has contributed freely and largely and will yield more, Philadel- phia and Boston have done relatively as well, considering how little atten. tiou has been paid to them by mine owners. It is high time that the latter should realize that capitalists in other cItles are willing and even anxious to invest in mines. No better indication of this desire can ne given than the avidity shown by the leading daily | newspapers in the principal cities of | The country to receive and publish the reports of the Mining Associated . Press. This organization was formed for the purpose of collecting and dis seminsting news from the mines. IL basis correspondents in every princi. pal mining district, who are instructed to send by telegraph all important mining information. When received in New York this news is then sent daily by telegraph to papers in Phila- delphia, Boston, Washington, Chica- ga, Cincinnati, St. Louis, LouisviLa and elsewhere. It is published like other financial news, and thus gives 10 the mining industry the prominence ano recognition which it deserves. The whole country now has it's mining intelligence fresh every morning. and from reading it capitalists will learn, hs they never have been able 10 learn hetore, what is being done in the min Ing regions, and what properties and districts afford reasonable assurance Tor investment. This association has no pets in properties or dist. cts, and -elying upon the good faith and intel lgence of its agents, as well as upon Us other sources Of information. will Jim to give the news, and in giyinr it 1ot only to foster legitimate mining t enterprises, but to expose illegitima;e 
 Prominent operators and promoters T # mines see in this plan of obtaining f nd distributing news 8 way out of a , ificulty which has caused them no $ ittle annoyance. As soon as mining C egan 10 attract attention in New ( Iork, the riff-rdff of journalism saw in r. a means for profit. They opened & aiming departments and besourht c line managers for advertising and for tock. The managers paid for their dvertiseing, but the newspapers did T ot pay for their stock, and as soon as a ley got iithrew it on he market. l. n ras gertlemanly way of blackmail- " lg, and those companies which once o' ave away their stock found them U elves constantly called b n for fur !" Ter contributions. Ifthey refused to e ''Pond they were abused. and could p nd no easy way of defense. Mos, of e prominent New YorK dailles Q ere slow to open miuinr depart. l.. ents, but now, with few exceptions - 'ey have separate columns for min ..