Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1881-11-16
English Capital and syndicates.

y
English Capital and syndicates.
English capitalists, says the San Fran
cisco Bulletin, are looking after oppor-
tunities for investments in coal mines,
gravel mines, quartz mines and rail-
roads. They have recently bought 50,-
coo acres of coal lands in Ohio. A
gravel mine in Calaveras county, in this
State, was recently sold in London for
100000, and a number of quartz mines
have recently been sold to English cap
italists. For the last five years English
capitalists have been very active in
seeking investments in this country.
If they can make capital earn 8 per
cent. on safe investments, they appear
to be pretty we'll satisfied. A great
deal of capital earns much more. The
English capitalist likes good paying
mine. But he buys no wild cats. "A
mine must either pay handsomely or
promise to pay, before he puts his money
into it. 1t must be said also that the
English mine-owners manage thelc
mines in a very economical and efficient
way. In Australia "quartz reefs ~ are
made to pay handsomely, where the
rock only yields 81 per ton. There is
no quartz mine on the Pacific Coast
which has been made to pay with rock
at this low average-at least, we have
never head of one Of that grade which
has been put on paying foundation.
Never before the modern times have
there been so large Accommodations OF
capital at the great business centers of
the world. The result has been a
gradual decline of interest, and at the
same time a more extended exploration
of new fields Of enterprise. The capt.
talist can no longer sit down in his Of
fee and cut off his 10 per cent. coupons
semi-annually. Even if they were is
sued at that rate of interest the pre-
miums now paid for them now bring
them down to five or six per cent. in
vestment. Mines, railroads and coal
lands attract unusual attention on the
part of capitalists. 1t has been re-
markable fact that during the last few
years, long lines of railroad have been
constructed by few capitalists. The
public has not asked for stock subscrip-
tons as in former times. Half 4 dozen
men mark out railroad route and
begin to build the road. The public is
informed from time to time about the
progress, but it is not asked to contrib
ute dollar. If more money is needed
than the capitalists have in hand, bonds
are issued, and these are sold at home
or abroad without difficulty. Of course,
the money in such an event comes out
of the public. But they know little or
nothing about the road and care less, SO
that they get the stipulated interest,
and the principal when it becomes due.
The most encouraging fact Of all is that
capital is creating enterprise. That is
the tendency always, but more so when
there are large accumulatiOns and the
rate of interest is downward. Steam
ships are multiplied, coal fields are
bought gravel and quartz mines be
come desirable investments, and all
other solid properties which will yield
better returns than the present low
rates of interest on Government secur-
tiles. If a company now projects rail-
road through any part Of the country
where there is fair prospect of bust
ness, the enterprise is not delayed for
lack of capital.
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