The record-union., 1892-06-16
TEE MINING INDUSTRY.
How it is Handicapped by Stock
Board Customs.
The Mining Industry Able to Sustain
Itself If Fostered by just
Legislation.

Especial Correspondence REcoRD-UNIoN.]
CoPPERoPoLIs, June 13.-Whenever
there has been marked development of
mines a demand for low-priced, legiti-
mate stocks from outside investors has
almost always been demonstrated by the
listing of many inferior mines. The
stock board might promote investment
and development of mining sections by
taking advantage of this indication and
providing legitimate, low-priced stocks.
With all capital the first consideration
is security. To insure this:
Flrst-Fee for listing stock should be
such as to warrant report from a COM
petent and reliable mining engineer,
which should be kept on file at the board
rooms for public inspection.
Second-All mining Superintendents
should be required to pass suitable ex-
animation as to practical ability to man
age the class of mine which they control
and duplicate certificate of such exami-
nation should be on file.
1hlrd-Suitable business regulations
should be established to insure regular
and correct reports of expenses and out
put. Failure to comply with these regu-
latlons should cause the mine to be
dropped from the list. In this way the
board would protect the public against
fraud and soon represent all legitimate
cooperative enterprises.
TO ESTABLISH THE STOCK BOARD IN
PUBLIC CONFIDENCE.
Yet the board guarantee accounts of
members, and in so doing establish such
regulations that it could be safely done
IN this way a seat in the board would
soon become valuable, and its worth a
protection to the board against dealings
that might involve them in liability.
Regulations of this nature would sub
stantlally guarantee every mine listed as
an honest enterprise and every transac-
ton OF the board as an honest DEAL This
would inspire public confidence and en-
list capital now idle in profitable enter
prise.
AUSTRALIAN POLICY TOUCHING PATENTS
TO MINERAL LANDS.
Government engineers are detailed to
survey the district and report ore deVel-
opmentS, and patents are issued on the
basis of these reports. In that way the
Government prices bear some sort of pro-
portion TO actual value of different tracts.
ana the ''dog-in-the-manger" system
that has arisen from our policy of issuing
agricultural patents to mining lands, and
allowing those who have neither capital,
credit, skill nor enterprise to work mines
to keep others away with their barb wires
and vested rights, is avoided.
TAXATION OF MINERAL LANDS.
To encourage mining, the State of Ne
yaGa inaugurated the mistaken policy of
exempting mineral lands and only taxing
the improvements. This has resulted in
encouraging speculation rather than min
ing, and great bodies of valuable mineral
lands have been located and held idle for
speculative values resulting from adjacent
development, but without further cost to
holders than interest on original invest
ment.
An extension of the functions of the
Mining Bureau which should include SO
thorough survey OF mineral sections
that the report should become the basis of
assessment for taxation. would not only
guide and promote investment, but also
create strong disposition to realize
among those who hold mineral lands
upon agricultural patents, and partly for
stock bat mainly for speculation.
Parties in the vicinity of Copperopolis
who willingly rent their holdings at $40
to $50 per acre, refuse to sell for less than
S$400 per acre.
These suggestions are made by Mining
superintendent q. McM. Ross, who ar
CUES very ably that the mining industry
is quite able to sustain itself without any
paternal aid if fostered by general and
just legislation and business customs that
will insure honest and legitimate trans
actions. FRANK 5. CHAPLIN.