The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-10-11
MINING D%n1Us1oNs.

In an effort to protect men in our own
midst, whe own vAluabls undevsloped min.
ing property, and TO show them where their
emily reliance for assistance lies, attention is
again called to the stock question. Some sug-
gesLioHs were thrown out yesterday 10 show
wherein unAssessable stock was injudicious;
the fusility # any attempt to enlist foreign
capital through listing stock OH ~ outside
mining board will now be considered. 1t Is
an axiom in business, old ~ humanity, that
no people will receive help who DO not help
themselves. The fact of home investment
will Of itself draw foreign investment to dis
pate with us the profits cur own people are
making. A demonstration TO the world that
money is to be made in mining is ths better
way TO make the world want some If 1t. Tho
mining Journals of the East are complaining
that mining exchanges ale . dstrinlent i'll
stead OF a benefit 10 the mining industry.
The listing of a stock upon An exchange is
tho invitation for al ssssmp. by q horde OF
small SPECTATORS to sell short and
depreciate prices 50 thai the com
pany listing eau realize nothing upon
its treasury stock, which Is necessary fea-
sure OF tho unassessable plan. The company
which expects BY listing TO raise money 70
put ON hoisting works and develop its mine
inevitably exposes itself to the predatory
practices Of inscriptions operators. The
company, to sussain their stock in the mar
ket, must expend money which they could
better use in = straightforward way upon their
mine. The INITIATED public are net aware
Of how much sham there is in the mining
stuck business. Men, who pass among sheir
fellows with q character for reputable dealing,
will carry stock that has been given to then.
to act as directors, or receive stock OH COM
mission having II publicly given out that they
have bought il, Or will make sham bids OH AL
exchange for stock that never passes, for the
sole purpose Of eutrapping SIZE unwary.
IL 10 only the mines Of remotely problem
atical value that have any business on stock
exchanges. II ore brides should be found In
any Of shem by any chance it will he in keep
ing with the wild speculation that 10 . part Of
the business and will furnish il with . shadow
of basis for future operations. Bst iu regard
to . good mine, which is worked for what il
III it, Le believing Il tho bulls and. tho
growing of the bears arc pOwerless 70 add u
or take from its value Mining exchanges
in which small investors can secure inter. sts
in worthy enterprises 10 . benefit to Investors.
ths mining industry and to ,he community in
which the mine IS located. They enable
people to buy property which they expect &c
enhance In value and sell without al absolute
loss what they have lost confidence in. IL
have any relation 10 actual value these trans
actions must be made among people wht
have some knowledge Of the property. Their
are Il number Of mining journals published
in the country, and they almost unaniinousl,
unite in the statement that mining exchang
are Of no value to the mining industry
Whatever value they possess must certainly
be augmented by being localized.
The organization Of a mining compan.
upon the unassessable plan, with treasury
stock for development, places the men VIII,
put money into the enterprise in good faitl
at the mercy Of unprinciplod operators. Thu
Lexdvil e Chronicle OF a recent date says
"This is all very sorry business. But afse
all, q COMPANY which expects To raise none!
to open and develop its MINES by selling stool
to sLr hangers exposes itself to just such preda
tory enterprises. If the owners of a pros
pect can't ra.se money among themselves t,
work il up 10 the coudition of a pay mine
they had better let it alone, or sell TO people
who have nluney. Treasury sock is tn
f~aintest reed upon which IA Company Cal
rely. 1t never can be sold when money j
most needed. It is the natural target O
birds Of prey who are looking for something
10 devour." After the treasury stock is ex
hausted for a song, the only resource left tn
directors is TO mortgage the mine, and the
the trouble commences. Ledge owner