Weekly Arizona citizen., 1880-10-02
Cur Weekly Mining Dispatch'
ireehty 1e?ort q Eio;0s @'''''a''1

.A ,,r,n.uaI duilacss ended "ith
 ss,nrasv la.,. The market seems to
 hs recoyeriar fr,m 'be comatose sia'e
 pnder wh,ca it has been l"borlos Tor
 .o,, ,y.,h-almos, months. But
 ,ne ,rnccss of convalescnce $ Ver!'
 slow and hy some considered uncer-
 ,ain. There are many reasons 10 be
 r.vo, in e,nlana,ion Of the Freseni
 5.n-essed stlte Of the market, both as
 ,eI.tes ,o mining and 70 other secuT-
 i,;es All whose interests or 'nclinA-
 ,ions igduce lhem 70 follow ibe causes
 which lesd 10 an explanation ot. ihe
 Dresen. unsatisfactory condition of
 srorks. agree tha, the imitation nc;iee-
 sblc ip prices of q year ago has been
 productive of the present reaction,
 and that securities which we-e con
 sidered fr,.-class had fancy values
 placed upon them which intripsic
 merit would not ws.rnni, thus caus-
 jag many specuiators to realize a' the
 highest possible price. Mining stocks
 have suffered in greater proportion
 than any other class, and the causes
 sre apparent. During the early part
 of the la.e boom, interested specula-
 lators capitalized many surface
 uroDerties n the New York market,
 and a series of disastrous results have
 combined 10 create ihe present dis
 trust. Noticeable is the case with
 Leadville and vicinity. Little Fitis-
 burg was he ir>t of the TOW of bricks
 which caused he iall of the mines
 in that section. Grandi'aqIent re-
 ports were circulated by professors in
 mining and great promises heli out
 10 the uncduca,ed mass Of mining
 specula;ors. The lest names knnNn to the business world in this city
 were introduced % ibe tile Tages of well-wril'en snd highly colored prospeciuscs, maps filled in with ycl- low and gold We're made showing the dips. spurs aud angeie~ of ihe various mines offered 10 a credulous public, and as usual, the bell sheep jumped the brook and the entire flock fnl- lowed prnme,lv after. The result was precipitated by ire employment of learned experts al the mines, we'll informed gentlemen who knew all about mining. n the compsny's of fees, and highly colored reports, di- rect from superintcnden's who.e chief qualifications consisted ID being able to write fine letters glowing with fno prognnsticationF Naturally, those investors who received dividends were pleased and invested their gains in more stock and the re- suit has been that not only inc profits, but the most part of the prin- cipsl is now snugly and securely slowed away in the pockets of the in- Eiders and promoters" While this result Is of value 10 the lucky fev, the msny suGlrcrs are loud in iheir com mplalnts If the mireprescuiaiions which hore caused then Q lose their honest money. Thus i, is a " seer that the action which caused the de- preciation in s;-.l5a-u mining values has made very sick the 2 Jss ,hat laid the golden egg" Although uol actually dead, Esid goose is exceed ingly 1T, and can crly be revived by prompt and vigorous action. The way 10 restore public confidence in mines and mining is simply 10 desert the iguus fatus Of making millions out of nothing, and return to ibe old method of honorable and legitimate dealing in mining, adopting the prin- ciples which guide and control every other branch oi trade The fact that millions If money hase been added to the worlds wealth hy the enterprise and labor of he thou .ands engaged in in all parts of the country, should prove convincing argument in favor of the business being conducted legitlmaiely; and the opinion IS uni versal that when the wreck is clered and sail again made on an almost dis mnn'led ship, new impetus will be given 10 Il remuneratiye and necessary industry.
 During tue week it has been ru- mored that q thew idea" is about tn be introduced into the mining world by MT. J. II. Havcrly, Of theatricnl fame. IL k proposed 10 stsrt mining bureau on large scale with an open board room attached, lhe members 10 be supplied with decks and seats placed in aa amphitheatre, each of which will constitute an office for he transaction oi business. Here, il Is understood, spe, ulatOrs in mines and mining properties can coagregatc and have board continually open for business, thus avoiding the so-called 1 regular calls which obtain. The plan ! Is now working successfully in Chi | cago. and may bcmade tn do so here. At all events it wlli form a place for without the customary red l ispe now so common, with ones l broker or business man, thus allowing i he general public more freedom than | Is now the case.
 Appropos ot new exchanges, Bos- ! on proposes to have a real. sure ! enough Mining SJock Eychsnge. ] which is 10 be known under the name l a A..