St. Paul daily globe., 1892-02-21

far as possible protect the public in this
matter, the Duluth stock exchange has
Just been organized, and it is the inten-
tiOn of the board of management to re-
fuse to list anything which is not only
devoid Of merit, but which does not
show up in the A column. Duluth peo-
pie are very much in earnest in this
matter and do not propose to let East
ern or other sharks throw diScredit ON
the great properties which, in the very
nature of things, must bring fame and
fortune to the Northwest.
Mr.. Humphreys, who is the prime
mover in these matters, has with char
acterlstic energy arranged for another
excursion over the range next week.
Another large aud influential party of
Minnesota, Ohio, Pennsylvania, Duluth
and
West Virginia Capitalists
and iron men will leave here about
Thursday and put in the day Viewing
the properties, and it is safe to assert
that the results shown will far surpasS
their most sanguine expectations. The
party will leave here on a special train
and go to Mesaba on the Duluth q Iron
Range, thence by slelghs TO the iron
mines, returning to this city in the
evening. Throughout the trip they will
be the guests of Mr.. Humphreys, who,
with characteristic Southern hospital
1ty, spares no pains to make his visitors
feel entirely at home.
The question will doubtless be asked
by readers of these articles what oppor-
tunlty exists for the man of moderate
means or income to make money out of
such investments. The chances are
splendid, and can easily enough be fig
ured. The situation today is best de-
scrlbed by a comparison made yester-
day by prominent Duluthian- why"
said he, at is like row of sugar barrels
with the heads still unopened. The
flies congregate around them, but when
they are opened there is mad rush for
the contents" Without intending for
moment to be uncOmplimentary TO
possible investors IN the comparison
they resemble the flies. The result is
that the eager rush for the stock forces
the price up, ard so the men who buy
now will of a verify make big money.
But the objection is raised that this re-
sembleS in too great degree the meth
DDS in vogue in Wall street. That OBJ
lection would doubtless hold good were
it not for the fact that the
Gentlemen Who Control
these properties are developing them,
and intend that their profits shall come
from the sale and manufacture of the
ore rather than from the more uncertain
dealing in stocks.
have been thus particular to empha-
size these matters, because in times
past have seen the unfortunate public
rush in both into real estate and mining
deals. with the result that they parted
with both hide and hair. Were l so
minded l could instance a thousand
cases where people lost their
heads, being overcome by the
glamour of speculation, and lost
their money, their health and
everything else. In this case,o course,
the conditions are different The high
character of the men whe own the prop
critics, coupled with the absolute and
unequivocaI evidence of experts,-the
additional fact that the ore is there, that
pits have been sunk fifty feet down into
the ground without going through it,
and last, but not least, the non-shrink-
able, copper-riveted, iron-bound fact
that millions of dollars have already
been invested in the range by far
sighted business men of the iron re-
glons of Pennsylvania and West Vir-
ginia-men who have been born and
brought up in the iron business-leadS
to the unalterable conclusion that it is,
beyond all peradventure, the greatest
iron find that has been made in many
loug day, and that with little care and
a little money man has an ''iron-pipe
cinch' on one of the best chances ever
offered by the tickle Dame Fortune"