Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1895-06-08
INVESTMENT IN MINES.
Eagerness Prevailing i'm Europe Soon to
Reach This Country.

! investment III mines winch now pre-
walls in London, Paris and Berlin
will soon extend to New York and
spread over this country. He looks for
a genuine boom i'll mining properties
in the United States. As he is at the
focus of mining thought and enterprise
in New York, his opinion is of value.
He further said
II would not express an opinion of
that kind unless | had some foundation
for it, And | will explain to you why
| think that great deal of money will
be invested in American mines in a
short time. There is at present as
great excitement III London over min
ing properties as there was in San
Francisco in 1876 over the COmstOck.
Men with money want mining proper
ty. This eagerness for mining proper
ties is not confined to London, but is
quite keen in Paris and Berlin. In
fact mines are now the favorite invest
ment throughout Europe.
eve had a similar boom III Califor-
MIA during the Comstock days, but the
excitement of those days and the in
vestments then made are insignificant
to that which is now going on i'll Lon
don. Europe is now engrosed with
the properties III Africa and Australia.
The efforts to mine for gold in the new
fields in Australia will i'll all proba bill
ity be a failure, owing to the lack of
water there. The quest now will be
confined to Africa. The system of de-
veloping those properties is as follows:
IAN exploration company was
formed of which the Rothschilds are
the chief spirits, and Cecil Rhodes the
promoter III 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 Eu
rope are buying.
Nov as TO America. There is no
doubt that an exploration company
will be formed in New York on the
same lines as those in London. 1t
would doubtless have been organized
this month had certain gentlemen re-
manned i'll New York. Senator Jones
is deeply interested i'll the project, and
ID. Q. Mills and j. w. Mackay will in
vest New York is quite as ready to
take up mining investments as London
or Paris All the money needed to
carry on IA work III the United States
similar to that which the Rothschilds
are backing i'll Africa can be had i'll
New York in a short time.
THE exploration company which
will be organized i'll New York in a
few weeks or months will operate i'll
this way:
'In the first place it will have a very
large working capital. If mine
owner comes with 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.
If the report is satisfactory the COM
pany will buy the property and de-
VelOp it or will endeaVOr to sell it,
charging IA commission. With the i'll
dorsement of the property by the COM
pany this will not be difficult to do;
or, if the mine-Owner wants enough
money to put up Il MILL the company
will do that and take IA share Of the
returns; or the company Will take
proportion of the stock, with view of
opening it up to see what 1t contains.
Ii it is not satisfactory after certain
amount of work has been done, it will
be dropped and the loss accepted 1t
will be the aim also of the company to
list the stock of the mines on the eX-
changes and offer it for sale to the pub
lie.
New York is eager for this move
ment. The great excitement III Eu-
rope over mines has extended to this
country, and the people i'll the East are
ready to invest their money i'll mines.
1t is my opinion that this country is
better field for IA mining boom than
Africa or Australia. We have good
mining territory III New Mexico, Ari-
IONA, California, Colorado, Nevada,
Utah, Oregon Idaho, Montana and
Washington. There are innumerable
prospects here which will pay a COM
pany to explore.
New York is now the center of
mining interests in the United States.
There are ten mines offered for sale
there now TO one in San Francisco,
and scarcely a day passes that three or
four mine owners do not call at my
Office with property for sale. If an
exploration company takes hold Of
these properties, examines them care
fully by competent expert and then
publishes his opinion of them, people
in the East will have more confidence
in them and will put their money III
them | think this movement III