The Elk Mountain pilot., 1881-08-18

isOs lo'S. A0 may OcSin 10 StOpe OUT
the ground above, taking care to keep
the shaft going downwards as fast as
powder and drills cali sink it to open
up new reserve, while those already
exposed are being worked out. He
caa then be tolerably certain of his
ability to pay continuous dividends
monthly, quarterly or half yearly, &C
cording to the dictates of wise iudg-
ment. We might name perhaps half
dozel instances where this method has
teadopted with most gratifying re-
suits. 1t is to be the prevailing
method of the future, because it IS the
only safe one that can be adopted.
When men and corporations learn to
conduct mining upon this basis, it
Will be largely and continuously profit
able. Indeed, we know of no indus
try calculated to yield surer returns.
The records of each mining county,
and those of the Secretary of State,
are burdened with mining corpora
tlons, with capital stocks ranging from
ten thousand to twenty millions OF
dollars. Outside any Of Leadville
very few of these have paid dividends
at all. 1t is safe to ectimate that ninety
five hundredths of them never will pay
dividends as at present organized and
conducted. A large proportion of
them are conceived in fraud and full
Of iniquity from top to bottom. A
great many are dangerous schemes to
be avoided by honest men. But let
US get down to the legitimate bases of
things, show what it is and what may
be accomplished on right planes of ac-
ton.
To begin with, the prevalent meth
cd Of this epoch ought to be wholly
aholished-wiped> out clean and a
new star: made. If this were done we
should have, say 500 prospects devel-
oped sufficiently to assure the presence
|Qf good mineral in place and IN pay
oSantities; As 2 majority are
lissl1Tes to be worked by shafting, let
the new system begin there. The
first thing to be done is to organize
your company with the distinct un-
derstanding that sufficient funds shall
be furnished from time to time as the
work proceeds, to sink the mine 500
feet, with levels at intervals of 50 to
100 feet, and that no dividends shall
be paid until sufficient reserves of ore
shall have been opened to justify
them. The second and most import
ant proceeding is to secure an honest,
capable, experienced and efficient
manager. The third, that ro salaries
shall be paid to any officer of the
company except its secretary and
manager until the regular dividend
period is reached, when all salaries
shall be paid from the profits. Fourth,
that no expensive establishments Of
any kind are to be kept, and that the
manager be held to strict account
ability for everything under his
charge. In the course of few years
from the time of starting, the fruits Of
this kind of operation will amply re-
pay every dollar invested, with large
interest. 1t will place this great in
dustry in the front rank of American
enterprises, build up the country, yield
vast wealth and create universal pros
perity among the people. The old
system has been fully tried, and its
path is strewn with wrecks. 1t is un-
reliable, fraudulent, full of lying, theft,
treachery and deception. The new
plan we have briefly outlined, organ
lied upon the methods which have
made the factories of New England
and iron mines of Pennsylvania what
they are to-day, will yield equally
grand returns. 1t will insure safety to
capital, safety to laboring men, to the
merchant, mechanic, farmer, artisan
and all divisions of the people de-
pendent upon the legitimate course of
practical traf1c.-Deaa'er T7bune.
On the first inst. passenger rates
were reduced on the Colorado Cen
trail 71l cents per mile. and on the
Denver Pacific TO cents per mile.