Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1886-05-22
A. Word to Mine Owners.

Now that this section of the Black
Hills, by reason of the discovery of
extensive and valuable tin mines, is
attracting the attention Of capitalists
throughout the United States and Eu-
rope, some of whom, through their
agents. have already been examining
these mines, and the many others who
will visit this section during the present
summer with like purpose in view,
would it not be we'll to recall past ex-
periences with reference to the results
Of asking unwarranted prices for un-
developed mining property. The con-
sequences which followed the refusal of
liberal offers for many properties, nota-
bly, the Grand Junction, Old Bill, Pen
obscot, Atlantic, and Salmon in 1873,
most of which have remained idle up to
the present time, and from which no
profit has been realized, is still fresh in
the memory Of their owners. Had they
been guided by wisdom in fixing price
upon their properties instead of remain
ing, as many Of them have, upon the
ragged edge" they would have been
to-day enjoying competency, and had
the further consolation of knowing that
through their agency the Southern Hills
had been thoroughly developed, and
elevated to plane Of prosperity seldom
reached in the history of this country.
This ruinOus policy Of overestimating
the value of undeveloped mining loca-
tions is double acting in it's disastrous
consequences. 1t not only works injury
upon the holder, by defeating the sale
Of his property, and leaving it indefnit-
ely upon his hands, but it places an
effectual bar upon the development of
our mineral resources by virtually driv-
ing capital out of our district. We do
not wish to be understood as favoring
any sacrifice of valuable property, and
while we are thoroughly impressed
with the value of particular locations,
we cannot conclude that all are valuable.
Surface mineral indications are de-
ceptive and in many cases will not
bear the test of development, hence the
folly of basing the value of a
mine, upon a crude mining
location. The degree of wisdom in
volved in determining the value Of
mining location from surface indications
alone, has never vet fallen to the lot Of
mortal. The wisest mining expert can.
not with his skilled optics penetrate the
earth, and the true character Of the
hidden depths must remain most pro-
found mystery. Mines, like merchan.
disc, are sold upon their merits which
can only be determined by a careful
examination. The crude location must
represent a nominal value inconsequence
Of being practically invisible, whose
value can only be augmented by devel-
opment, which is simply exposing it to
view at greater depth. That this sec
ton has been seriously injured, and its
progress materially retarded in conse-
quence of declining reasonable offers
for mining property, no one can con
sistenty gainsay. and that the financial
status of mine owners has been corre-
spondingly weakened, is equally APP
parent, and in view Of averting similar
consequences in the future, than which
nothing more distrous and deplorable
could be imagined, this article is candid
ly submitted, earnestly hoping that the
situation briefly outlined therein may
be carefully considered, and that the
view taken may commend itself to the
better judgment of the mine owners in
this very promising and deservedly
popular mining district