The San Francisco call., 1896-11-12
No Englishman Ever Makes a
Positive Statement in
Business.
EXECUTED THROUGH SOLICITORS
Small Syndicates, Mr. Janin Thinks,
Should Be Formed Here to
Develop Mines.

Louis Janin Jr., the California mining
engineer, who for two years past has been
in Australia, and who recently sold lead
ing gold mine in New South Wales to
London capitalists, is at the Occidental,
after having examined some local mines.
Mr.. Janin says there is a far better feel
ing abroad regarding California gold mines
than formerly. In an off-hand way yester-
day Mr.. Janin alluded TO the sentiment
abroad. Said he:
You ask me what chance there is of
placing California mines on the London
market, or, to use a more euphonic express
sion, what desire has the great British
public to invest in the mines of this State.
Well, just about as much desire to invest
here as in any place where there is not
pronounced boom. The British public is
tickle, you know. and frequently changes
its loves. Witness South Africa, then the
switch to Australia, and now it appears
that 1t has hankering after neither so
that it is possible that it is quite amatory
for mines in other localities.
"You see the condition of affairs in
London is something like this: There has
been large amount of money made in
floating bad Il use the expression bad frs y
and good mines in London. This money
has been realized by the so-called explora-
tiOu COIl pduleS. l4eSS COIN pdQleS, WDlCl
are not In reality exploration companies
in the true sense of the word with all due
difference to the Exploration Company of
London), are financing ana promoting
syndicates In their own camp. They have
the money, however, and they must invest
it. If the South African or West Australian
boom has, in fact, ended, the directors of
these companies who love their guineas
are not going to1ose their jobs, nor are the
shareholders going to lie quietly and see
their money absorbed in office expenses.
Whether this money comes to C2lifor-
MIA or not, depends not so much on the
mines, which of course any one will admit
are good, but upon the way the schemes
are presented to the British public. Hold
on-I made mistake. not the British
public, but the British promoter, the man
who claims 10 ieel the pulse of the man
who invests.
''What l meant to convey was that Cali
fornian and other American schemes, l
might say, are taken over to London in
very bad shape The process is something
like this: Jones finds a mine; bonds it
from Smith. Jones hasn't the money to
go to London, so he organizes a little pool
among his friends, who decide not to send
him TO London, but to New York. OF
course, Jones expects to make profit on
mis- bond, and ms syndicate does. Well,
Jones goes TO New York. He finds New
CttAd, 50 dS IL ines
are concerned. He stops at the Waldorf
Tor a time, then goes to the Bowery. From
the Bowery he goes home-provided he is
a good walker, or can get pass. The
syndicate, having its money in. decides to
put little more up on the bond, which
has yet not expired, and send Brown,
who, they think, has more business tact,
10 London this time OF course, Brown
goes away with a good send off, and when
he arrives in London he is full of Ameri-
eau business energy and push.
"The first people Brown meets (he prob
ably stops at one OF the Metropoie group
of hoteis) are Americans. What's your
business nere?' is usually the first inquiry,
and Brown of course, if he is a typical
Californian, spouts it. There is some
friend in the smoking-room who of course
can introduce him at once to purchaser
Ii one of them does not get Brown in to
camp that day, a friend from the next
hotel Will visit him. Ii Browns friend is
honest, he will take them to somebody in
the city. and if he is well known and in
good standing he will get attention. We