The Republican journal., 1883-02-22
The Late Mining Boom.

There is very little remaining of the Maine
mining boom. A few spectators made money,
which somebody lost, of course, good deal of
worthless mining stock has been pigeon-hoed
or destroyed, and holes in the ground, which
might have become mining shafts under more
suspicious circumstances, may be seen all along
the coast. The Maine Mining journal has
changed its name and turned its attention to
other matters; the Sullivan Bulletin has pulled
up stakes and gone to Ellsworth and become a
Democratic organ, and the Waukcag Hotel at
Sullivan, built when the mining fever was at
its height, has proved improbable and is to be
sold at auction. To this untimely ending of
brilliant hopes and prophecies the weekly press
of Maine might say, II told you so.'' in retalia-
ton for the abuse heaped upon it at the time
when every other man in Maine had mine on
his farm or i'll his dooryard, and was million
are in prospective. We thought then. and think
now, that our weekly newspapers pursued Il
wise course. The majority had no faith in the
mines, and said SO plainly. The Journal was
among these who doubted, but it would have
been glad to have recorded a different result,
:.
The charges so freely made that these ncwspa-
pers were combined to prevent the establish
ment of a promising industry, We're weak and
foolish. Increased prosperity for the State
means increased prosperity for the ncwspa-
pers. If the Maine mines had proved to be all
that the promoters of mining companies prom
ised, everyone in the State would have been
Il; y,
kinds would have been in demand. all branches
of trade would have been stimulated. the pro
Queer would have had IA better market and Il
large amount of foreign capital would have
come hlthcr. These are facts which everyone
could realize. But, on the other hand ii was
the duty of the newspapers to warn their readers
against embarking their means in enterprises,
the outcome of which was certainly doubtful
and which might result in serious loss and con
sequent embarrassment. There were losses, de
spite the warnings of the newspapers; but they
were not SO numerous, nor SO heavy, as they
would have been had the press of the State pur-
sued different policy.
What is the outlook To-day: At intervals
during the past two years we have been told
that mining operations had reached hard pan :
that they We're at last conducted on business
principles. and would soon show that faith in
their ultimate productiveness was not misplace
ed. We even heard of bars and ingot>, and of
shipments OF ore: but as to the cost of produc-
ton there was an ominous silence. If it costs
two dollars TO produce one dollars worth of
bullion. the continuation of mining operations
depends upon the ability or willingness of
stockholders 70 supply the deficiency. Now all
hopes appear to be centred upon the Douglass
mine: and its success or failure Will determine
whether or not mining is to become an industry
in th, State. A large amount Of money has
been expended on this mine, but those concern
ed in it are sanguine. Ii has all the plant re
quired for successful mining and it j. propoS-
ed, few weeks later. to raise and reduce one
hundred tons of ore per day. From tests already
made it is believed that the yield of copper viii
be sufficient to place the mine on paving basis
and ensure dividend at no distant day. If
these antcipations are realized it will cncour-
age the working of other mines in the vicinity.
If not, we shall have heard the last Of Maine
mines for many years to come. 1t il perhaps
needless to i'd that we hope the Douglass may
prove to be a YcritaDle bonanza