The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-10


of Mines and the Dangers OF investments
Bruce Keesan's Letters on the Colo
RADIO Boom.
| Cripple Greek. Col. March s.-(Spec-
ial)-The indication from the mining
stock market points 10 a single eoncIus-
ion-ths buyer has determined to
weed out the wildcat stock by declaring
10 buy ii knowingly. Another lesson
may be learned that a stock VIII not
/ long maintain its price IN the market
unless the buyer is convinced BY some
thing. development Of property. by paw
ment OF dividends or otherwise. that
/ the stock has merit Measured BY the
| business tests there has been a further
| decline in mining stocks. What may
be said OF this fact as 10 its booming
| upon the mining industry OF Cripple
| Creek mining district. II argues very
little against the general view that
this camp is 20 be demonstrated 20 be
a very rich one. II must BE- taken in
10 consideration that probably four out
! OF five mining companies organized
| are organized for immediate profit, a.
| concerns for the immediate sale OF stock
/ and which never Intend 20 do any hon
/ est development work with = view TO
| produce mining property Patent
| ed claims are yet being bought. proper
/ " that has no merit 10 De put into
! mining companies that a prospector
may show up property with title that
4 buyers may he the more easily dupei
! into buying The stock.
/ The fact is that mining stocks. IN
u.
| not own controlling interest ln the
| corporation are RISKY Investments. The
| history OF mining stocks shows tho
| most reckless regard OF legitimate bus
| mess methods and judgment and the
! management OF the companies larger
number Of instances OF disregard OF the
| rights % stockholders. railroad COM
| panies possibly. excepted. Take ~ an
| Illustration the Virginia consolidated
mining company. At one time assess
I ments were made upon the stockholders
/ Till The stock was practically worthless
az ot1er times especially when the
! great strike was made) the stock was
/ "kted" tn The price OF the stock in
/ dictated a value Of the consolidated %
billion and half dollars. II Is need
! less 20 enumertte The various causes
/ that "kited" and %, Irei' the stock
/ Certain IL * that many things were
/ done IN utter disregard u the rights 90
| the stakeholder and for the purpose %
making his property OF diminished wall
/ ue. on the other hand the stock was
'kiied" iii it would seem that anybody
| could see that the price was fictitious
and very sproportionate % the real
| value.
| Men seem 20 have no sense where n
| gold mine is the object Of their bust
4
| that more money goes into the ground
! than ever comes out Of % IN mining en-
/ terprises. but a competent authority
| estimates that in the Virginia City
| mines. CThe Comstock LodeJ the rich
| est silver mines OF modern times and
! taking in view the money lost by stock
| speculation. the cost for every dollar
| taken from the earth was AZ an expense
Of seven. This Is but an illustration
OF the wildness. the recklcssness % min
| ing booms and the richer the mines the
| worse the speculation. Should Cripple
| Greek make few more finds like the
! largest and should the present mines
/ demonstrate richer ore at a deep Level
! the mining boom would know no bounds
| Mining property. mining prospects iu
\ the district would have a marvellous
! price and the district would have a
| most unreasonable boundary. The
| camp evlnces this fevcrish tendency
I already. The reason The Independ-
| ence i said 10 have more than I've mil
| lions OF ore In sight. Who would not
| take the chances IF discovering such
| a mint Of gold? What are the chance
/ 81 ten thousand proEpectors % fat
| such a nine2 The slightest Yet Ga
l this fact do men follow the gold fever.
| Wich grey hair and wasting health 10
Is SIN the same.
| When one has found the mine Gsur~s
| vein. has gotten his assay that gives
| him assurance that 10 has gold pruduc-
! ing ore he SIN has before him a large
| outlay ~ money and rnucn uncertainty.
| The mine does not pay from the -
| ginning and 70 is not uncommon for a
miner 20 spend ten 20 $4,000 in devei-
| oping what afterward proves % be q
good property before his enterprise b.
gins 70 bring him an Income. II Is
| told OF Stratt0n - the IndependeuCe
| 20 much written Of IN mining natter
| that had he not received the go 600 in
| the option on his property which was
| forfeited 70 him and which be used "a
develop h.s property. he would have
| been unable % have developed this
wonderful mine. u takes gold % mine
gold even when ~ 81 "a sight
| Notwithstanding ali the risks ar1
hindranccs the future 81 the Grippe
Creek district Seems 10 D. assured.
| The whole earth seems % have heard
| Of its richness and comes hi;her. Mon
| ey comes Tor Investment But a. 90.
the Colorado people have proatef mos.
| by the development which has been
done almost wholly BY Colorado money
A railroad vii BE- built from Coi1raf9
| Springs ~ Colorado capital All thHs
A -
Ia this camp
Kansas people are here. many hsv-
done we'll II ~ usually c0ueede1 tAat
a Kansas man has had srpsrlen~e that
serves him a good pBrposs. he may
not be rich fEeid0n - bot g never q
| fool A = Kansas fnzu never FiEss
I more than be Rsts and = yp1 dT1t
watch him he vii exchange = worthless
quarter section or a % cent horse f0r =
gold mine
Society ~. IL rhat % a mining camp.
| The 6isposifioa % gambling e. s<ery-
whore prevalent IT, rascal make
MS influence felt. hs isavsns ne loaf.
and the tendency - sharp ard t.F105-
est business rse;hots zagss ltssis N
business transartonr. a. ~ f1- an
eye = tooth f3T a tooth When in Rome
you nut D. g Roman. hsrce % Is easV
% see ~ baisfgi Influence ta bust
ness few cgnwrl-rcsiesF rQE1ef may
have Men preforlna-e about fogr
70 one Everythirz nas a ferr1rAfg
aop~aran~~-bu. i1.nEs eepecla-iy-
u Th--~ are more "gsdzss- here fhan
s-v-He-~ On earn Eh1uif q uar -
o.. the street. ara sH1af ~ltaiiga JgfEr'
~ would - is tznTsT = kaft1E
49,. slsewzlk. 80 macy u~n would D.
tlahse 90 r~Epor1 Tsfze ~ll3zes~ are
made up ron JUICES q police. r1grty
znd e.strfrf co1-fs rrshsfe. from lss-