The San Francisco call., 1897-06-20
AMONG THE MINERS.

The present active efforts TO stim ulate the
mem bership of the California Miners Associa-
uon mas brought to notice the extent 10 which
San Francisco people and San Francisco oapi-
tal are interested in the development of gold
mining in this State. S. K. Thornton vice
president OF the California Miners Associa-
t.on, VINO has been Tor two months devoting
his time to building up the organization OF the
miners, has compiled list OF III InCorpora ted
mining companies which had established
business offices in San Francisco nearly eigh-
teen months ago, taking his data from d
mining directory published early in 1896
This list includes only Incorporated COM
panies whose properties are in California ex-
Guiding all the Comstock companies and all
companies having their headquarters here
whose properties are in Alaska or in other
States Territories outside of California
This list of Incorporated companies was
hastily compiled from the most convenient
data at hand simply as guide to Mr.. Thorn
ton in his rushing for a greater membership
for the California Miners Association. This
list of San Francisco Incorporated companies
includes several hundred stockholders who
are residents of San Francisco
But this list is only starter. 1t does not in
clude the many operations of San Francisco
men who are investing money in individual
ways or in simple business partnerships, nor
does it include many mining interpretations
formed to develop certain mines which have
not established regular business Offices in this
City. Neither does it include any of the min
ing companies incorporated within the past
eighteen months in this City. The organiza-
tion of N lining companies is proceeding o
rapidly increasing rate in San Francisco
alone. Hardly a day passes without brief
little announcement in the news columns of
the daily papers OF the Incorporation OF one or
more new mining companies in the City.
No complete census of the mining compa-
nies of San Francisco operating in California
amid the present new and great era of gold
mining development exists, but the San Fran
cisco incorporated companies alone are esti-
mated to reach into the hundreds. These in
corporated companies represent a vast num-
Der of investors. A great proportion of them
have no occasion to establish Offices in office
buildings or to advertise themselves or their
properties. Three, FIVE or ten people buy an
undeveloped but promising claim and assess
themselves so much a month to pay cheap
superintendent, few miners and for cheap
developing plant and go quietly about their
business iu Nevada, Calaveras. Kern or some
other county, each stockholder keeping hope
full track of his little mining affair as be
would of any other little side speculation in
dulged in.
If the little company gets down 20 or 200
feet and makes an encouraging strike it is a
private affair not likely 10 get into The news
papers, and while 1t contributes TO the devel-
opment and prosperity of California it is no.
body else's business. Many of these unheard-
OF San Francisco companies, whose operations
do not get into the papers, like those of the
Kennedy, Utica, Gwin, ct al, are developing
unknown claims into mines that will acquire
fame some day, and many OF them are COM
posed of small storekeepers, CLERKS and so on
Some fellow in the plain walks Of life gets
claim or mine, or an option on one, and gets
his acquaint tances interested and forms an
incorporated company, which puts up an as
sessment of 500 or $500 a month for develop
ment work.
A favorite scheme is to form a company at a
Ger tain capitalization, declaring so much
stock to be treasury stock. The treasury stock
is sold at whatever price seems attainable and
the receipts from the treasury stock and not
assessments are used to pay for the develop
ment operations. Ii valuable property is
found the incorporators have a good thing
and the buyers of treasury stock have made
a oo1 investment.
These com panies, whose interpretations are
reported almost daily, represent mainly the
small investments of people of small means
They represent the inves tment of grocery-men,
saIoon-keepers. professional men. clerks dress
makers, men of small or large capital and the
common people generally.
Tney exhibit the wide interest in gold min !