The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-08-23

good salaries; mortgage the mine to erect q
mill or to buy other property, and in the end
become rich and respected and have their
bones followed to their final resting place by
a large concourse of citizens sorrowing for
the loss of such good men. But where are
the child-like and amiable people who orig
inally bought the mine by paying their 80
cents per share for $4,000 shares? We drop
a tear in remembrance of their estimable
natures and regret that they had no business
qualifications by which they could get ahead
IN the world.
The great increase of population and of
wealth and the consequent propensity to spec
uIate are rapidly bringing Butte to the time
when she may expect to be initiated in the
mysteries of stock gambling operations. The
laborers and servant girls, the poor and con-
filling furnish a bonanza upon which the
deXterous paper miners will soon file their
application for patent. The methods of the
gentlemen are exceedingly seductive. They
procure tlattering reports from mining eX-
perts and give out That sagacious business
men are taking all the stock, in some certain
mine, they can carry. TO the unwary mice
running about it looks like a heap of meal,
but the poor innocents are naware that
there is a cat underneath it. The mining
experts have stock in their clothes aud their
sagacious agents are working il off on 4 COM
mission. The same features will be found
running through all these cases there is
no oIaotntn hnstc rs ,,cH, - h,o;, p,itl,
"A man may have d mine that he values at
100000. 1t makes no difference to him
whether his title is in fee simple or in stock.
He has as full control of the mine in one
case as in the other. lie may agree with a syn
Of operators to turn over the whole
S ock when they have sold sufficient to yield
him 100000. The operators will be careful!
in every instance to have a majority of the
stock fall to their share. The people of this
may expect when these mining stock
they no doubt will do at no distant
day, that the programme in every case will be
for the people 10 buy the mines and allow
hem a controlling block Of the stock as a
compensation for the talent employed
III. floating them. investors cannot af.
ford to put up their money at such ruilous
risks. The whole business interest of the
prefer. rather tat the mass of
he people should remain prosperous than
hat any handful of sclemers should live riot
'usly from tie fruits Of the labor Of other.
In the absence Of law TO govern these mat
it is important that d determined public
sentiment should be so sensitiycly jealous rs
% force the fullest public information III re-
gard to all stocks offered in the market.
d bank note is offered to lis We have
he assurance that back Of it there is IA pledge
n the shape of government bonds for its re-
tcmption. But with mining stocks the pub
lc has no assurance that they are not Two
birds water; chat the profits Of the mine cal-
lot bc dissipated III ~salarie>: that the mine it.
cannot be leased to all inside ring that
Will absorb the profits; or that a mortgage
viii not be put Ill the properly for the pur-
pose OF eventually shutting out all the stock.
The minority Of the stockholders have moth
ns between them and certain loss except the
of the management, In mang in
we regret 10 say, il is a delusiye
II III Ell offering stock for sale
give some assurance Of protection to
tockholders aud cannot impart some knowl-
dse of what they may offer To sell represents
t is better that the public let it severely
lone. A certificate of stock is merely a
'rlnted piece of paper what il represents,
ives it rdlue. The printing Of $40 or $25 or
80 thereon as its par value has 10 signif-
ance; it is the property back of the certifi-
ate and the honesty OF the men who admin
the property. A thousand S25 certif-
ates Oh a $50, 900 mine ought to be worth
ar when the managers are upright. TIN i'll
eglity Of the controlling stockholders is.
hen, all important ingredient of value: and
We have no guide to point out their future
except from their past. An enterprise
'orn in fraud cannot be expected to incline
oward virtue. !. vicious. incep ton marks a
.isgraceful close.
Ii is pleasant to be authoritatiyely inform
ID from Peoria that after September list "no