The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-06-21
MINING AS A BUSINESS
Why Failures Occurred-The Rules
Which Govern the Merchant
Are Generally Safe Rules
For the Mine Owner.
From the Conr d,Alene Miner.

From the Cour d'Alene Miner.
For years past, in fact, as far as the
memoir of most Of us h are here can
travel back, there has existed in the
minds OF the public generally an impress
sion that mining as a business enterprise,
was altogether speculative, profitable
only la the operator when the right card
was turned. This was without question
the case. made so by acknowledgement,
misrepresentation or lack OF mining eN-
perience. Thus il was with these ursuc-
cessful ventures of mining operators, and
with the poor results from expenditures
of money in this direction, that only
brave or speculative gentlemen would
dare to invest in this so-callcd field OF
chance.
The majority Of failures In mining
enterprises have been caused by misman-
agement. and in nine cases out OF ten the
acknowledgement was occasioned unin-
tentionally and can he attributed to mex
pcrience.
Go with us 10 any of the old mining
sections and you will see thousands upon
thousands Of dollars In improvements
upon mining properties; which the eye OF
an educated or practical miner will see
never were OF any value There are
quartz mills, complete in all their COM
partments, which have never turned a
wheel, conveniently located upon the
ground of mining claims which have
never disclosed n single pound of ore, n
all done at the expense OF an unfortunate
one who desired TO try his luck In this di-
rection. The mistake i'm many OF these
cases occurs from the management OF the
mine, anticipating results which were
never realized, and in preparing for the
reduction and concentration of ores with
money which should have been used in
The dpyeloDment of the ledge,
ANOTHER very common error, occurring
in the earlier days OF mine operations, but
which has not existed in this section, was
the practice of buying ~undeveloped pros
little money, the purchaser believing the
money saved i'm this direction and put IN
toward developing the claim was al
economical proposition. IL every lode i'm
a mining district was equally rs good as
another, then this course of reasoning
would be admissible and practical, but as
this is not true, and more than this, onlya
few lodcs of the many located develop
into paying properties, IL would seem
that this was the wrong basis Of buying
claims. Capital seeking investment to-
day in the Cour d'Alcne mining district
is looking for lodges which have been de-
veloped sufficiently Ia show the character
OF the vein, its strength, value and ca
pacity. When these are determined the
mine investor reduces IL To a simple
mathematical calculation. He estimates
the value OF h property at n certain fig
urc. the cost of setting up machinery Of a
certain capacity, and the cost of develop
inl the MIN To the point of yielding "A
certain amount OF ore. When these csti-
mates are made he Is then prepared TO
buy the lain on the same basis
as a man would buy a farm or a
piece of real estate. How grandly
have the mines of the South Fork
demonstrated the success of mining upon
this basis. Take any OF our developed
properties and follow their history from
their beginning up 10 the present and we
find In every case a steady output exceed
ing in every instance the anticipations of
the owners. Let us take one Of the more
recent cases rs an illustrations: The Gus
ter ledge Is supposed To he the same as
the Tiger and Poorman. Scarcely over
one year ago there existed ON this claim
but one level or adit ON the ledge. In
this the ledge was disclosed the entire
length of the level, aggregating some 800
or 400 feet. Much of this ore appeared
more or less d~ecomposed in its nature,
and the management, who were fortu-
nately mining men of long experience,
concluded To open up at "a greater depth.
Another level was started and run ON tine
ledge. opening up the same ore body at
a greater depth. and realizing from this
greater depth the anticipated improve
ment in the ore. On this level we find
the ore body has lcngtllefleu from east To
west Ia "A surprising degree. Last fall a
survey was made Ia run "A tunnel Ia tap
the vein 30 feet below the middle tunnel.
This has cut the ledge aud disclosed a
fine body Of ore. Ii makes the property
one Of the most yaluable in the district,
and il has been brought la this point by
being under the management OF clear
beaded business men of mining expert
ence. Every move they made was with
forcthought and consideration. Survey
ors were employed when necessary aud
every undertaking was figured out care
fully before being commenced. The same
may be said of the Tiger, Poorman, san
Francisco, Gem, Grants, Morning and
all other mines in this section which have
been managed ia a like name ar just
the same s "A merchant or other business
man would carry on affairs successfully.
The time has gone 10y for anyone 10 as
sert with any degree of truthfulness that
mining in The Cour d'Alenes is not just as
legitimate, just as successful and more
profitable than any other line of business.
Taken as a business, there Is no other
which is as interesting, fascinating or AS
independent.
We point with satisfaction 20 the show
ing OF our low grade silver-lead mines.
We are proud OF our mining companies
n their management. We invite all In
curing natures who desire information in
this direction Ia come and see our won
derful lodges, which have been SO success
fully operated, and we feel satisfied they
will be well repaid FOR their visits.
THE GREATEST MINING A