The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-08-16
MINING SwINDLES.

We are pleased to note that our Helena COLI
temporary, the Independent has the manli-
ness and independence to expose what has
the appearance of being a huge swindle from
which innocent persons have suffered.
1t appears that u party bought the GARFIELD
mine on Red Mountain forth sum OF $2,OOo.
This sum may be all that it was worth or 1t
may be it dig not represent q 1.-THE OF its val"
ue. OF thisw we have no means of learning,
nor, according to the Independent, has any
one else. Without expanding a dollar in its
development the purchaser stocked his mine
at 81, 900, 900 and alter organizing a board OF
directors induced several of the citizens OF
Helena to purchase shares in the mine. A
prospectus signed by the president, business
manager and secretary of the company gave
a glowing description of the property, and
among other statements it made was one that
a 20 stamp mill to cost $4,000 would be
built upon it and pnt in operation within 80
days. This was all very fair and. promising
and of course the business manager found
several "lnnocents'' who readily ''bit' at the
bait so adroitly gilded with gold. But it
seems there were some conscientious gentle
men who had been inveigled into the enter
prise and were members of the board of di-
rectors. These gentleman having heard that
the whole affair was a huge swindle appoint
ed a committee to examine the mine and re-
port. On another page of the MINER that
report may be seen.
We have not referred to this matter for The
purpose of showing up the worthlcssless
of some of the boa:t2d mining
properties in the vicinity of Helena; neither
have we mentioned it because we wish to
make it appear that Helena contains a nest
of swindlers who would not scruple to rob
men by palming off worthless stock upon
them in exchange for their greenbacks.
Nothing of this sort is intended. On the
contrary, We have only words of praise for
those gentlemen who having money IN the
mine, would. rather than unload their worth
less stock upon ignorant parties, suffer a loss
by exposing what was evidently a fraud. But
we have referred to this matter for the pur-
pose of warning our own citizens against
sharpers in our midst who, we are informed,
are engaged in enterprises as doubtful in
their character as the one to which the hide
pendent directed the attention of its readers.
While Butte has unqnestionably the richest
and most extensive silver mines known in
the west, and has before her a bright and
prosperous future, she may be crippled and
seriously injured by neatly devised mining
swindlts. rhey are severe blows against the
progress of a mining camp, and when perpe-
trated upon outside parties they invariably
retard its prosperity, Our camp is too young
to afford this. The various methods by
which unprincip!e4 men would seek to fill
their own pockets at the expense of the rep
utation of a mining district should be guard
ed against, and when they are known should
be promptly exposed. We are glad to see
that the Independent has opened fire in the
right direction, and when occasion calls fol
it the MINER will be found as ready to ex'
pose mining swindles.