Arizona weekly citizen., 1895-06-08
BOOM IN MINES. Prospector's Millennium Told
 ofby Irwin Stump.
FOREIGN CAPITAL READY
New York is Now the Center of Mining Interests in the
 United States.

, Stump believes that the eagerpss . 'n investment ID mines waich now prevail ] in London, Paris and Berlin will sool extend to New York and spread ove
 this country. He looks for 8 genuin,
 boom Tn mining properties in the United
 States.
 AS he is at the focus of mining enter
 prises and though in New York, his op
 inion is of value.
 "I would not express an opinion ol
 that kind," said MT. Stump, "unless l
 had some foundation for it. And I will
 explain to you why I think that great
 deal of money will be invested in Amer
 ican mines within short time. There
 IS at present as great excitement ln
 London over mining properties as there
 was in San Francisco in '76 over the
 Comstock. Men with money want min- ing properties. This eagerness for min ing properties is not confined to London but IS quite as keen in Paris and Berlin.
 In fact, mines are now the fRvorite in-
 vestment throughout Europe. We hsd
 similar boom in California during the Comstock days, but the excitement of those days and the investments then made are insignificant compared to that which IS now going on in London.
 Europe IS now engrOssed with the properties in Africa and Australia. The efforts to mine for gold in the new fields ln Australia will in all probability be failure, because of the lack of water there. The quest will now be confined to Africa. The system of developing these properties is as follows:
 "An exploration company was formed Of which the Rothschilds are the chic: spirits and Cecil Rhodes the promoter in Africa. This company, as the name implies, explores the country for mines The stock Of iron mines is placed on the exchange in London for sale, and this the people all over Europe are buying.
 "Now as to America there is 20 doubt that an exploration company will be formed in New York on the same lines as those in London. It would, doubt less, have been organized this month had certain gentlemen remained ID New York. Senator Jones is deeply interest ed in the project and D. O. Mills and J. w. Macksy will invest In it. Indeed, New York is quite as ready to take Up mining investments as London or Paris. All the money needed to carry on @ work in the United States similar to that which the Rothschilds are backing in Africa can be had in New York in short time.
 "The exploration company, which will be organized in New York in few weeks or months, will operate in this way: In the first place it will have verry large working capital. If mine owner comes with mine for sale to the company be will be requested to pay for an exami- nation of the property by one of the ex- perts of the company. If the experts report is satisfactory the capital will be put into the property and develop is for itself or it will sell 1t. charging a con- mission. Or, if the mine owner wants enough money to pat up mill the con- pany will do that and take share of the returns. Or the company will take a property, with view of opening it up to zee what it contains. If 1t is not sat- | isfsctory after certain amount of work has been done 1t will be dropped and the loss accepted.
 "It will be the aim also oi the com pany to list the stock mines on the ex- change and offer it for sale to the public.
 "New York is eager for this move ment. The great excitement in Europe over mines has extended to this country and the people in the east are ready to invest their money in mines. It is my opinion that this country is better field for mining boom than Africa or Australia. We have good mining terri | tory in New Mexico, Arizona, California, Colorado, Nevada, Utah, Oregon, Idaho, Montana and Washington. There are prospects there which will 1 pay company to explore.
 ''New York is now the center of mIn- ing interests in the United States. There | are ten mines offered to sale there now | to one in San Francisco, and hardly a | day passes that three or four mine own srs do not call at my office with prop erty for sale. If an exploration con- pany takes hold of these properties, | examines them carefully by competent | expert and then publishes his opinion of | them, people in the east wID have more | confidence in them and will put their | money in them.
 "I think this movement in American mines will begin ID the fall"