Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1888-03-04
WANTED-A RESTORATION
OF CONFIDENCE.


The Board of Brokers, Of San
Francisco, propose to enact some
sort of reform in the matters of
milling and mining Comstock ores.
They imagine that from the fact
that the public are not buying
stocks that there must he lack of
confidence IN the honesty of some
body, AM that in order to show the
public that the fault is at this end
of the line, pass resolutions calling
for an investigator OF the milling
rings.
Now the APPEAL, while it believes
that the milling methods will bear
an overhauling, is also of the opin-
ion that there is not department
of the whole business, from mining
the rock to selling the stock, that
does not need a thorough renova-
ton. The public no longer has
confidence in the mining lottery,
and this lack of confidence il so
widespread that mining has become
rs an occupation synonymous with
highway robbery. The reason of
all this is the star chamber meth
DDS Of managing mines and mills
and stock boards. When the ore
ID reached in the mine by means Of
q diamond drill this fact is kept a
profound secret from the stock
holders, and when the assay is
made the figures never see the light.
If the assay is low, rose-colored re-
ports are circulated through the
paid organs Of the mines, and the
stock is shoveled out to the public
at as high rate as they can pay.
II the assay is high it is reported as
. failure, and after an assessment
is put on, the stock is gathered an
at low figures, and when the street
is unilked the deal comes, Oor the
insiders only and another turn is
made. Oh course the mill men also
get in their solid work. When a
mining company lets a contract TO a
mill owned by the same parties that
manipulate the mine, it is a per-
fectly easy matter to let a contract
at whatever rates the giver and re-
ceiver of the contract GALL the same
persons) may choose to decide on.
Also, il the rock is 800 ton there
is nothing in the way OF mixing
thousand tons OF ore with a thous-
and tons of periphery and making
1000 tons OF $50 rock instead OF
1000 tons OF 500 rock. The result
is that the mill has | 900 more tons
OF rock (rorphery) to crush, and
clears up a corresponding profit.
OF course the mill men scout the
idea OF their ever having done any
thing OF the kind They feel hurt
at the bare suggestion. but that
such fantastic tricks are played is
not denied by any intelligent man
who has lived in Nevada any con-
siderable number of years. So
much for the honest miner and the
honest mill man. Now comes the
long-laced honest broker who loans
his customers stock to help break
the market, and closes him out on a
margin, who charges HIM interest,
commission, etc., on stocks never
bought, AMI who goes into bank
ruptcy when the market goes the |
wrong way Tor him, and who ie-
wants to the Sandwich Islands when
it goes the right way for the GUS
toners. Ir spite OF all this long |
history OF rascali,y and corruption
the public has seldom been able to
enjoy the satisfaction of seeing any
one of these vultures brought to
Justice, and the legislatures regard
the state of affairs with absolute in
difference. The upshot OF the mat
tor is that the goose which lays the
golden egg has been killed, and the
wise man on the outside declinestoin-
vest il a business in the conduct OF
which he is never allowed to have
the slightest insight. Everything
below the ground is a sealed book
to him, and rs a burnt child avoids
tho fire he let's the game alone. 1t |