The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-06-03
A MINING BOOM AT HAND.
Irwin c. stump Explains the New Way
of selling Property.

Oh Seillng properly.
San Francisco, June Erwin c. Stump
believes that the eagerness for investment
in mines which now prevails in London,
Paris and Berlin will soon extend to New
York and spread over this country. He
looks for a genuine boom in mining prop
perties in the United States. As he is at
the focus of mining thought and enterprise
in New York. his opinion is of value. Il
would not express an opinion of that
kind said Alr. Stump. unless had some
foundation for it. And l will explain 10
you why think great deal of money will
be invested in American mines within a
short time. There is at present as great
excitement in London over mining proper
ties as there was in San Francisco in 1876
over the Comstock. Men with money want
mining property. This eagerness for min
ing property is not confined to London. but
is quite as keen in Paris and Berlin. In
fact mines are now the favorite invest
ment throughout Europe. We had SIM
liar boom in California during the Com
stock days, but the excitement of those
days and the investments then made are
insignificant to that which is now going on
in London.
Now as TO America There IS no
doubt that an exploring company VIII be
formed in New York on the same lines
as those in London. 1t would doubtless
have been organized this month mad GER
tain gentlemen remained In New York.
Senator Jones is deeply interested in the
project. and d. O. Mills and John ".
Gfackay Will invest in IT. Indeed, New
York Is quite as ready 20 take UP mining
Investments as London or Paris. All the
money needed to carry on the work N
the United States similar to that which
the Rothsohilds are backing in Africa can
be had in New York in a short time. The
exploration company which Will be organ
lied in New York in a few weeks or
months will operate in this way: In the
first place 1t viii have a very large work
ing capital. II a rnine-owner comes with
a mine for sale to the company he Will
be requested TO pay for an examination
of the property by one OF the experts of
the company. II the experts report is
satisfactory, the company will probably
buy the property and develop 1t for Itself
or will endeav0r TO sell IL, charging a
commission. WITH the Endorsement of
the property by the company this viii
not be difficult to do. Or. II the mine
owner wants enough money 10 put up a
mill. the company will do that and take
4. share OF the returns. Or the company
Will take property, with view OF open
Il up to see what Ii contains. II II is
not satisfactory. after certain amount
of work has been done il Will he dropped
and the loss accepted. II VIII be the aim
also OF the company to list tine stock of
mines on the exchange and offer ii for
sale 10 the public.
New York is eager for this mosement.
The great excitement In Europe over
mines has extended 10 this country. and
the people in the East are ready TO invest
their money in mines. II is my opinion
that this country is a better field for
mining boom than Africa or Australia.
We nave good mining territory in New
Mexico. Arizona, California. Colorado,
Utah, Oregon. Idaho Montana and Wash
ington. There are innumerable prospects
there which viii pay a company 10 ex-
plore.
New York is now the center Of mining
interests in the United States There are
ten mines offered for sale there now 70
one ia San Francisco and hardly a day
passes that three of four mines owners
do not call at my Office with a property for
sale. II an exploration company takes
hold of these properties. examines them
carefully by a competent expert and then
publishes his opinion OF them, people in
the East Will have more confidence il
them and will put their money in them.
think this movement in American mines
will begin in he fall -