The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-06-25
THE EASTERN VIEW.
vruaT CAPITALISTS THINK OF
WESTERN MINES
rhey VIII Invest In Property which
VIII stand Tnvsstisatfan. bat .ot
n Pc Perts-s~Iecsfng the smell
1er Committ~e-Jae foanx ON the
Lordeau Notwithstanding Made
u Hamfiton.

II visited nearly all the prominent s,,1sf-
ness centerg 10 ASCERTAIN the feefgug u
usoneyed mea "a 10 the EserrIlaneres aa6
stability OF the present mining excite
ment. found in every s7sfanees-ard nv
business connections brought sne ia cog
tact mostly with banks-thas hank rcc0z
aize MINING as a legitimate business to-
! day. arc FOUND that some 81 those In
sereste.I in the banks were interested dg-
recfiy Ia mining
These remarks were made lsv y J Non
roe In the course of q long interview with
s q Post-lnteiilgsncsr representative As
ALREADY Told In the Post eiIixcncer he
has returned from Is fiVe-moa{hz' tour
Of the East. III the course az which ne
spent some time in Pitssbrrg ard 0tta-
VA. Ont, paid visit 10 his sister AZ
GashaSs y =, and made "a trip 70 CHI
eAxo. Toronto. Montreal Buffalo ard
other leading cities His iusne.iiate pur-
pose was to raise money 10 develop the
Trail creek Midland Mining Company q
property near Boundary, Wash. and for
the Youngs Gold Dredger Company on
the Cariboo river. II. e. and for the
Golden Chest .,nine In Idaho. In which he
ana mis- partner. r. A. Morgan are the
principal Stockholders In this under
taking he was successful
Washington" he continued. lis nor
recognized az mining state. as We have
no producers as yef-fhat are known
GhrouKn tho counsry--tLere are no d!vI-
dend pagers. Yes. Monte Crssto tx pay
ing, but II Is run for the benefit Of it's
New York owners. and rot 81 the state
Of washington; they simply take their
dividends and say nothing about H. What
We need IL producing mines and then we
shall get the capital. Men OF capital Are
willing to invest In anything in which you
can ccnvincs them at the start that there
- merit In II. II II IL nothing more than
prospect, they don't want anything to
do with IL. II Il will stand commercial
anaiysis--shat Is. thorough lnsestlga-
ton as to the amount and value of ore
n &ikhs-yop can get what IL ss worth,
but people have gotten over paying s3aa.eo9
or 100000 for a prospect;
Tho Macintosh brothers went at /,
! on different systom. and they succeed
ed by 1t. They put III their own m0Gey
and showed what they had In their prop
erty, sasd nov. they can raise all the
money they want among the best people
IN Pittsburg. even 10 another $4,000 above
what they have already secured.
"A change has come over the mining
business. Formerly IL WAS either placer
or free milling. and was simply a matter
OF speculation Now II f. a bnsiness based
on production Of fiie metals, which al
ways have stable value IN the market
One trouble II that people In the Fast
know 80 little about II. aud treat mining
property as children treat ra sand house.
The experts know even less than the In.
vestors. II one | met IL an Illustration.
lie was on his way 10 Mexico 10 examine
a mining property hut when ] showed
him bottle nf placer gold he said II
was iron pyTit.s.
sThere IL no market fer stocks In thu
Fast, except In mines 81 proved merit
Each city has its favotIte mine or district
which II has been Instrumental IN deveI-
orif4g. and that stock is traded IN hgt Il
Il hard To place stock III a new property
Still large capital has begun moving and
Is being invested N mines proper bat
small cepiiai has hardly begun to move
Many companies have uuiuaded their
stock In the Eastern market the mines
have shut down and the stocks have be-
Gene eainelrNH. tHtIi thaSu companies
are reorganised. these stocks will give
mining black eye Eastern canada has
ssn,n flooded with stocks which tho Iro-
meters have unIaaded ami that has done
much injury They are afraid 81 West
efn men. for they say 9e have lots II
aisIiits- -too much Of i'saa ear get from
under and leave them e. carry 'he Toad
set mining Is tho pfiS subject ~ whl. II
ssn can interest anybody and tney are
ai9.ays willing to hrar yeu talk ahout Il,
Spokane. no. Seattle, 81 recognized as
the mining center ~ this Seetian ard
seatisa is recognized as tho commercial
eauter II the people Of Seattle would
Say. Wa viii ssee s. @s towards sie-
veiopluE one mine. ana making IL a r.o-
daecr and dividend payer that would
ID more Than anythtrs ese to mnke Sc
attic recognized as q mining center"