Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1884-06-03
A FALLACY ATTACKED.
The Practice OF Buying What is in Sight
in Mine. shown to BE Umrcas0nnbie-
mated.
DEER CREEK, Idaho, !
May ~, 1884. I

MAY -, lcCf
To THE EDITOR OF THE TINES
Knowing that you feel an interest in
the prospector and miner, as well as
the capitalist who seeks investment,
feel like expressing few IDEAS as
they present themselves to me.
In conversing, as l have doue fire.
quently in the past year in HALEY
with moncyed men, middle mon and
experts, find an idea prevailing to
some extent that the men who have
money, and are seeking investment
nowadays in mines. propose to buy
mine just as they would ii horse, or,
MS the familiar phrase is, just for what
is in sight. The idea seems so absurd
to me that | would not write about it,
only for the reason that men that seem
to be sane will tell you that such are
the facts.
Let us meet this idea from our
standpoint. Nearly or all the quartz
veins in the Wood River mining re-
gion are true assure veins, or spurs to
the same. We will suppose that |
have made location on one of these
assures running each way from discov
cry $50 feet; that have sunk at dis
covery shaft 100 feet deep, aud 100
feet each way have sunk another
shaft Of the same depth, and have
drifted from one to the other at
depth of 80 feet, and also connected
the two shafts at the bottom with IA
drift. We will say that the shafts and
drifts will show an average of six
inches of ore that is high grade, like
all our ore is here. ! will then say to
myself, it is good showing, and
rather than to take the care and vexa-
ton of developing farther, or stopping
out any ore, | will sell. Along comes
a man with money, seeking invest
mcnt. show him down one shaft,
up the other, and through the levels.
He measures the ore and makes his
calculations as to what is in sight. He
can easily do it, for have 50 dcvel-
oped that he can so around it and
look at it just as he would horse
that wouldn't kick. He tells me that
he will give me $4,000 for the mine.
l question him, and find that he has
figured on this block of ground only,
and tells ME that that is just what !
have got in sight, or nearly that. He
wouldn't care to z i've a thousand or
two more, any way, than 1t really fig
ures. | refuse the offer, and he goes
away and leaves the country, cursing
it for aught l know, because | have
asked him too much.
l will say as miner, that it the
block of ground before described con-
tanned $4,000, to buy the mine for
100000 would be as good an invest
ment AS buying $50 pieces at SIS
each. A miner will reason this way.
and Justly too. If there is $50 900 in
100 feet, only 100 feet down, then
there is showing for as much every
100 feet down, fer the ore here gets
better as we 60 deeper, and these tis-
sures won't give out. Then he will
say there are still l,400 feet unde-
veloped, and there are just as many
chances in favor of its being better
than what it showed up as there are
that it is not so good. So am just-
fed and act with good Judgment in
refusing the offer. The only chance
that this class of buyers will ever see
to invest will be to find number Of
persons owning mine that cannon get
along agreeably and compromise to