New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-09
THE TALK ABOUT MINES
SOME ADVISE TO STEER CLEAR OF THE
STOCKS.
GOOD PROPERTIES IN THE WEST. But Thhi
DON'T WARRANT WILD SPECULATION. A.


CoRDING TO THOSE WHO KNOW.
Gold mines TO be moro talked of to-day aro"hu
the hotels and In the business centres than any
other species OF speculation. Men who year ago
would have shown the door to any one that sPo"e
of mines are now gravely discussing the ieasl-
billy OF investigating these Western mines win
the idea Of investing money In them. 1t seenS ~
be a favorlie topic Of discussion. and II talk AZ
ways led 10 action another mining craze h's"
sweep over the country within the next year
When Chauncey NJ. Depew returned from Europe
last summer he spoke OF the extraordinary specua-
ton In Kafflr stocks. and supplemented his remdrNs
by saying that az yet not an American uohai "'
been invested In these mines. and that wheh '"e
final cataclysm the panic would be woise
than after the breaking of the South Sea buDo'e
In the days OF John Law. His ideas have s'"oe
been partially realized in the falling OF OF 'he
stocks. but behind the speculation In kahTs there
is some meri, OF value. and the stocks have held
on. When Mr. Depew asked about the Cripple
Creek mines and the alleged great gold output ne
said guardedly:
Il great deal In the papers about these
mines. They may or may not be rich in output
they are made out to be. but certainly they are
not worthy OF the inflated values laid upon me
Kafiir stocks. The American public showed us
discretion by staying OF these stocks altogether
mining boom may be under way here, but IL Is
hard to tel offhand the merits or dement's OF the
part Of the country where the mines are. ohe
thing IL certain. The American people are not az
conservative and slow the English, and II min
ing boom does sweep the country 1t Will dwarf
the Kaflr craze for the American people are more
impulsve than the English. do not see that there
is any prospect Of that now.
There seems TO be determined effort on the part
Of some men TO bring these mines to the front.
Already there Is talk about rev!vng the mining ex-
change in this city. There was at one time such
an exchange but for reason it died. Now
rfs,nla
and other mines in the West that are rated as
having big outputs are talking of forming a min
ing exchange to deal in mining stocks acne. ms
scheme may be carried out In the near future None
OF the men identified with the move care to come
to the front in the matter until ali arrangements
made
John W Bookwalter. Of Ohio who is OF the
wealthlest men in Ohio, and owns vast tracts OF
land in the West. said in speaking Of this alleged
craze: There is saying by an old philosopher
that the growth Of any country can be traced 10
things either precious metals or fertile agricul-
tural lands. California to-day would be practically
unsettled II the cry Of gold had led the Argo-
nauts OF - t brave every danger and cross that
great stretch u prairie and scale the Rockies In
the quest fo' gold. The output of gold in the
Transvaai country is great but great as II is, II Is
not enough to keep track with the rapidly growing
population. England is building up empire in
South Africa at great bounds 1t is gold that Is do
ing it. Great her output OF gold is. yet England
ships god South Africa to keep her commence
going The growth of the country under the gold
excitement Is greater even than It's marvellous OUT
The Kaiir stocks are greatly oyervalued but
WI shrink nut there VII never be crash ha IN IN
kept out Of the Kafir stocks. but now these West
ern mines Will be offered to them They may take
y snf Ia mines 'H IN the West and pqopery
izzed and worked would be good Investments, but
led and robbed. The growth owing 10 agricultural
lands is slow bu; sure the quest for gold is feversh
and rap)
political boss" Of thu District OF Columbia. and
plunged the District deeply into debt. being de-
ments. has spent many years al his mines al
Batspol!s Mexico. He has a grea; mine there. ami
says Il have by strict attention to my work buili
up mine unit II is to-day one OF the best In the
and again there are many pockets which amount
10 nothing. The public has, been bit before on
Ike every other legitimate business. and must be
worked right II one gets hold Of proper mine
as anything else. Then. again. stocks may be in
fated. az they are IN every business. and resultant
tics. oui ! do not know much personally about
some tune looking after mining interests, was at
the Waldorf Yesterday. He said: This country ia
b 6Sd 10 HasE ha would T eFsak out ma
of theI Offices II mad mentioned mines year ago
now The anG TO but sIsub ree
my mine in Mexico near that Of Mr.. Shepard
for found e hsSe up ID 5n
thar when the, people do take 70 investing in
mines 3y c YIN mines o e nc We sa b fr
that cripple Creek district because Il costs TOO
how far the craze will go, but it seems to me that
every will be buying mines and really the prop
critics that ! have seen would warrant undertaking
such specula ton.