, 1889-01-10
THE BEST SECURITIES.

The American Banker Of New
York, a recognized standard authority
on all matters pertaining TO finances,
made startling revelation in its issue
OF December Goth, which is calculated
TO elicit great deal Of interest in all
mining regions. The editor says:
lished a tabular statement showing how
severe have been the Losses Of Boston in.
vestors Ia the capital shares of certain
railroad companies that have been sup.
ported in large measure by the people OF
that city and other New England towns.
| 1t appears from this statement that the
market value OF the capital stock Of nine
railroad companies and the Bell Telephone
Company Is less now by Sl07, ,943, 900
than it was in June, 1887. The shrink.
age with respect to the stock Of two roads
the Atchison and the Burlington--has
exceeded $S2 2,000,0 900. But the history of
well US the dark one. That city Is the
| headquarters of our great copper mining
companies. In the period of twelve and
one-half months ending on the 18th ult.
the market value of the capital stock of
these companies advanced nearly 1928.
000, 900. In the case of one company
stock that was given awaya few months
earlier had gained a market value on the
18th nit. of 94.S0O,0O0. The largest of
the companies has recently been earning
enough to pay annual dividends OF $50
per cent upon a capital consisting largely
OF stock dividends. 1t is difficult to ascer-
tain how much of the money invested in
the last three years in Boston railroad
companies was supplied by the people of
that city and Northern New England, but
1t Is said that shares covering three
fourths OF the value OF the stock of these
copper companies are owned in the city or
near it.. 1t may be, therefore, that the
railroad losses have been more than made
good by the rise in copper securities.
The above statements, which. are
undoubtedly based upon reliable in
formation and may be safely accepted
as absolutely correct, are directly op-
posite to the tenor of all statements
emanating from sources in which rail
road interests are involved.
For many years past systematic
effort has been made TO depreciste the
value of mining stocks by character
izing them as wildcat" paper, wholly
unsafe as Investments. BY this means
the development of mining interests
in the ives. has been greatly retarded,
but western capital and western ener-.
gy have placed the mining properties
in the foremost rank and have at last
succeeded in forcing recognition of
their superiority as investments, even
in the great financial centers of the
East.
This concise and we'll authen-
ticated comparative statement as to
the vG'1e OF mining stocks, in contrast
with &Ailroad securities, is calculated
to produce beneficial results. 1t will
at least elicit'a fuller investigation on
the part Of eastern investors, which is
all that is required to establish the
stability Of mining properties in the
west and the perfect safety of mining
stocks as we'll as the large profits in
the way OF dividends.
The mining regions of the Pacific
northwest are an inviting Geld for
eastern capitalists, and largely in
creased inquiry for this class Of invest.
ments is anticipated during the ensu-
ing year.