Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1886-12-25

The great increase in activity in the
dealings in mining stocks lately, not
only in this city, but in all centers
where these securities are dealt in,
proves that the attention Of the general
public is again attracted TO this class OF
investments. Since the collapse Of the
last mining excitement in 1SSO-Sl, min
ing, as a speculative undertaking, has
not been in favor, and the wildcat"
features and overvalued enterprises
that formed the crest or foam Of the last
mining tidal wave lost their attractive
ness and subsidized into deserved oblivion
and "innocuous desuetude." Legitimate
mining, however, has in the last few
years established itself more firmly than
ever in the favor Of prudent and careful
business men, as a proper and profitable
undertaking, provided it is conducted
as any other legitimate business would
be, that il to say under the direct super.
vision of those whose capital is invested.
The result of this prudence has been
vastly to increase the number OF re-
munerative mining enterprises, by the
introduction of better and cheaper
methods Of treating the ores, and more
perhaps by the enforcement of greater
economies Of management. There are
probably to-day more actual dividend
paying mines in the United States, in
proportion TO the whole number OF
mines operated, than at any previous
time in the history of mining. The in
creased interest exhibited by the in
weston, is based, therefore, on perfectly
legitimate reasons, and is not the result
Of the excitement due to any u%nreason.
able boom"
After the loss offaith in mining stocks,
due to the failures and swindles Of 1880
and 1881, the prices of legitimate min
ing shares fell far below what was their
intrinsic value, based on their interest
paying capacity, and have remained SO
until very recently. 1t is the gradual
perception of this fact that has turned
the attention of the public once more in
that direction and made it DESTROYS OF
taking part in these undertakings.
While we greatly rejoice to see such
an evident return Of confidence to this
special line Of industry, we sincerely
nope and trust that the public will not
forget the lessons taught Or the expert
ences SO dearly purchased during the
last mining excitement. Let them re
taember that the traditional "nine lives
% the ordinary feline genus are a
nothing, when compared with the live
illness that, under the slightest provoca
ton or encouragement, will at once
reanimate the seeming corpses Of the
"wid" species. The greatest caution
should be shown by the would.be in
weston to thoroughly examine the whole
character and condition Of the mimi,
property before venturing his capital il
it, and all mining engineers and experts
should show ven greater caution thar
ever in the statements they may be
called upon to make. Having once
more, az The result of many years steady
hard work, regained the confidence lost
by the errors and failures of the past, il
is to be hoped that the mining pro,
fession may be able TO hold it continu
ously in the future by prudence and
reliability in advice and hat this re.
vival in the industry is but the com
mencement of a steady and healthy
growth that will place mining invest,
ments where they belong, when pru.
IDENTIFY undertaken and honestly man.
aged, namely, as the most lucrative in
vestments that capitalists a make
Mining & Engineering Journal.