Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1891-08-01
GOOD PROFITS IN MINING.


Missouri river has n very faint and
indefinite knowledge Of the extent
to which legitimate mining Ia car.
ried on in the territories west Of the
Rocky Mountains and on the Pa
cific Coast. Few people stop to
consider or think where the gold and
silver they handle comes from. II
may be crop grown somewhere for
all many of them know. These ure
the ignorant, unthinking class, of
course, but there is another more in
telligent, not having the excuse of
ignorance, which loses no oppor-
tunity Of railing against mining.
Even while handling the product Of
the business and experiencing its
benefits, they not only decry mining
but do their best TO discredit all
who are engaged in the pursuit.
This prejudice has grown out Of
losses sustained by hasty, ill-advised
investments. taking the statements
Of irresponsible spectators as facts
without giving them the careful in
vestigation that would be given TO
any ordinary business project sub
United for investment. This care
less, hasty method Of investing nat
urally led to losses, as It would In
case Of equal neglect TO give time
and attention to any other schemes
presented nearer home.
A want of knowledge of the bust
ness was more 6ften the cause of
the failure TO realize profits than the
want of merit Of the profit itself. A
board of directors composed of men
totally ignorant of the proper
method of working n mine ham,
pered it with heavy expenses.
extravagant salaries, sending out
sons and relatives of the d.
rectors 10 take charge Of the prop
erty totally untitled, ignorant Of the
first principles of mining, naturally
involved a waste of money expended
without judgment, and resulting in
debt and an untimely abandonment
of good properties that in many
cases, falling into the hands Of com
petent men, were developed into pay
ing and profitable enterprises. Such
instances are numerous. but this
one experiment seemed to prejudice
the original investors against all
further investments in mining prop
critics, who were unwilling to believe
that the failure in the past lay with
themselves and not the properties
they had owned.
The miner in the countries west
of the Rocky Mountains is to-day
hand in hand in prosperity with the
vineyardist, the great fruit raisers,
and the merchants. in fact he stands
in the front rank Of profitable pro-
ducers, while his product is perma-
nent in its benefits, never pcrishes.
Every dollar he produces has
value to the world at large, and il
that much added to its wealth and
circulating medium in form to be
seldom affected by the change Of
dynasties or the downfall of govern
ments. There is always a market
and n demand for his goods.
If a capitalist contemplating an
investment in mining was TO give
the same attention to investigation
that he would in the purchase Of
piece Of real estate or any other in
vestment he would be no more liza
BILE to losses; proper care, careful
investigation would enable him to
invest with equal judgment.
A list of seventy-five mines shows
as profits paid TO the stockholders
since incorporation the enormous
amount of $132,0O0,00 besides
which there are hundreds of small
mines not incorporated being worked
az private ventures, of which pro-
duct no note is taken, and TO the
above we may safely add sl8,000,-
QUO, making grand total of $780, |
100000 as the result of mining in |
vcstments.
1t is not bad showing for gam
bling business. How many rail-
roads would at present rate of profits
can show equal results for the same
length of timer And it must be
borne in mind that these mines arc
still pegging away.
Mining pays better as now con-
Quoted, gives better returns, larger
profits than any other form of every
day business. BY this community
il is called a gamble. How far does
the ordinary stock business come
from being gamble? 1t is the
common and recognized term for it,
and yet is tolerated without preju-
dice 10 those engaged in it.
Take an equal amount of capital
and put into each and let the result
at the end of the year show which is
safest and which has paid the best.