Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-11-13
SPECULATIVE MINING.
Something About the Ferris Gold aud
silver Mining and Milling 20.
Eiitor Deseret NeVE


Gold and Silver Mining and Milling
company; and the strong inference Is
drawn that we, A. q mining company
have secured the names Of some Of the
most prominent members OF the Nor
mon Church, osien-ibly for mercenary
purposes In mining speculation. The
nrst paragraph Ia the article says:
Considerable Intofes, has been excited
over some mining prospects In riu,o
county, and companies have been prsah-
lied with capital stock placed IN the
aggregate ut very high figures and bear
Ing tho names OF responsible parties, win
the object OF developing tho mines anu
making tho fortunes Of the stockholuers.
Reports, more or lcsssensational,ha Neoesn
circulated concerning the richness SUD
extent VI the discoveries, aud circulars
have hpen issued Ia which offers OF the
capital stock are made "at worry reason
able figures" Some persons too have
hccn canvas.ing for Subscribers, Offering
the shares. which are placed NJ slv, ler
twenty-five cents. All this has nade
quite stir, particularly as the names o.
the highest authorities In the church
have been published a. stock holdcrs, and
held out a. an example for others to fol-
low and ~ q sort Of guarantee that tho
scheinci1 reliable and likely to be OF
great bonoht.'
The shares here referred 10 are de-
velopmont stock OF the company, set
apart specially for sale, 10 raise funds
in order 10 develop the claims incor'
poraicd 10 that extent, that they may
be self.sustaining properties. AZ the
hoard meeting OF the company a reso'
luton was put forward not 10 sell any
rhhres In the company outside OF that
,levelopmcnt stock, which was con-
Cured In by tho directors and mem.
bcrs present belonging to the incor'
porAtlon.
Your second paragraph reads thus
1--WE do no, know anything as TO tho
actual status of the project. II may turn
out all that il anticipated by its promot-
ers. They arc very confident of success.
Hut there should be no misun dcrsiand'
ing IN the public mind concerning the
position occupied In relation TO u by
prominent men In the Church, whose
names have boon mentioned as large
holders oftho sock. This Will be made
clear by tho following letter, which We
have been permitted to prin. aud To
which We Invite tho attention OF oil our
readers"
We as company, believing mining
to be one Of the honorable pursuits Of
this Territory, aud one that Is required
by all the business rules aud regula-
tons of law u be honest aud intel.
llgent, thought II not wrong 70 bestow
upon men some Of the chances In our
hands Of competency, without an
idea OF bringing them Into any dis.
Tepute before the public. And We be-
lievo tli-t would be- their opinion Of u
~ the question were asked them. In
making this donation TO the honorable
gentlemen referred 10 We had no
thought Of obtaining the means Of
others through false pretenses. In
fiuences have been used against US,
perhaps by protesting frichds, know.
Ing nothing Of all our good Intent
Our offer TO those gentlemen IL respect
fully declined In public letter In the
MINIS.
Here follows the letter Of Presidents
Woodruff, Cannon and Smith, which
appeared In the DisEREr NEWS.
We as a company accept the stock
hack ngain with the same profou nd re-.
gard toward those gentlemen which
caused US 10 make the proGered settiug
aside Of our stock for their use and
benefit.
W. now pass to the paragraph OF tlic
article which reads;
'sThis should be sufficient to place the
brothrcn right In the public mind. They
are not promoters ~ this enterprise,
neither have they bought any Of tho stock
of tho corporation. Aud In view OF the
Influence that might be used by tho use
OF their names they think proper To do.
cline tho XIII OF the shares which the
company generously made 10 them"
at Isl not unusual In organizing asso.
Citations Of this Kind 10 place on the list
of stockholders the names Of prominent
persons 10 give tho corporation preatlgo.
The shares are donated aud the benefits
derived from tho use Of those names are
oficn greater than the price OF the shares
would bring. This IN frequently done with
out any Interior motive. Hut sometime.
tho purpose la Wow IL to induce people to
invest Ia doubtful or worthless projects,
and IL thus equivalent TO obtaining money
under false pre,onses."
From tho statements In this para
graph II II readily seen that our pro.
cedufe IL not unusual, and we declare
that II has not been through any sinis.
ter motive, or TO heguilc the people out
Of money, for there " not share for
tale outside Of known friends who W III
deal on the square.
In conclusion, we now recommend
to the notice ofthe public the language
Of your last paragraph In the same ar.
ticle. IL Ia this:
EVERY investor should act with a clear
understanding OF tho situation and mol
merely because OF the use Of great names
In connection with the venture.
I'VE are glad 10 SEQ that the presiding
authorities 81 the Church have set them
selves right In this matter, and We are
sure y VIII be gratifyingto host Of thoii
friends aud followers. At the same tint
We dcAiro 10 do no injury or injustice Il
the company which placed their namo,
on it. list OF stockholders, nor do we at.
tribute improper motives TO any one con
noctod with H. II tho properties owneC
develop into all that Its most sangiIn,
promoters predict, thoy will be none tho
worse on for tho courteous return o
stock which they so generously donated.
Your closing view ~ to the point
Men should see for themselves the
the facts, not 10 hastily Into any mat.
ter, but reason upon the conclusiv,
facts before them, and no arrive Mt
mature judgment. II will very likal,
occur that at the next board meeting
OF the company this stock returned /,
our company will he placed la tn,
stock OF the development fund, aud Tia,
company will not feel any the wors,
for tho change. The company la
lawfully Incorporated ON good claims
and We are here 10 stay. In Offering