The indicator., 1897-01-23

| without the outlay of capital for pom
derous machinery to control water or
! to forward exploitation has well been
] styled a rich mans mine. The rich
mans mine is not always wet one,
! but its demands for machinery, of one
/ kind or another constitute one to be
avoided by every prudent man not
actually u capitalist. The prospector
discovers claim and then gives way
TO the working miner and he in turn
| TO the capitalist. The prospcctor is
! content to demonstrate the probable
| existence of pay mineral in shipping
! quantity which the working miner
/ utilizcs TO the point where production
| becomes a question of the use of mon
! cy upon which interest is to be earned,
and then he is ready To retire in favor
of the man of means. The prospector
Is n surface searchcr; the working
miner develops to the capacity of
windlass and baby hoist, but at the
heavy machinery stage, the capitalist
or rich syndicate becomes heir to the
property. These are the three natural
stages from discovery to matured pro-
duction and they ought not TO clash.
Prospecting. development and real
mining are separate and distinct
phases of the mining business or rath-
er progressive steps from inception 10
steady operation. If mining men
would pay closer attention to and
more closely follow these distinctions,
1t would be better for all concerned in
the work of securing the precious met
ais. There are thus two occasions In
the history of nearly every promising
mining claim when sales are natural
consequences. The professional pros
pector desires TO realize his profits
with the lea nnSSiL1p pNnpnIit ~ N
labor, and he should temper his prices
accordingly. 10 be successful in his
chosen avocation. The working miner
works for immediate returns from ore
shipments until the vein Is exploited,
TO the stage nccessitIting machinery
instead of muscle. when he usually
wants to sell out. He must then dem
onstrate, from the record he has
made, what the mine is capable of do
ing with improved appliances which
he cannot furnish. His price should
therefore closely follow this demon
stration instead of being. as is often
the case an arbitrary figure in which
imagination rather than mathematics
Is given prominence.
Tile capitalist is almost always con-
fronted with the proposition to cx-
pend large sums of money in addition
to the purchase price before he can
render his property production. He
gets the property. usually, in Il non
productive shape hut with glowing
possibilities. dependent upon further
outlay. The working miner should
contrast the chances the capitalist
must take with these he assumed
when he relieved the prospcctor of
ownership, and regulate his price ac-
cordingly. If business reasoning and
n fu Il lnp .,f
tercsts would become factors in min
ing deals. there would he an increase
of sales and more general prosperity
among all persons dealing in mines
a fair profit on labor and investment
Is less thought of and acted upon in
mining transfers than in any other
sales, and this is the chief factor in
maintaining the unsavory reputation
attaching TO the mining business. If
claim owners would look more to fair
compensation for labor and money eN-
pended and less to acquiring com
potency or n big fortune in each min
ing transaction. more of them would
eventually get rich. and capitalists
would be better satisfied with their
bargains and more money would be
enlisted in mining enterprises.
The question is often asked. "Why
does he wish TO sell if the showing is
as good aS represcnted:" This is
quite satisfactorily answered by the
above declaration that there are two
periods in the history of most every
mining claim when n change of own
ership is natural and desirable. MANY
other reasons are often apparent, and
it Is not necessary to rccite them. but
generally the individual owner finds
that the mine has grown into n bust
ness requiring more capital for its
economical conduct than he can com
mand. The capitalist or company has
then become necessity. AS Il rule
this is the stage at which the capital
ist desires to take hold because dcvel-
opmcnt has disclosed positive facts
upon which very exact computations
of expenses and profits can he made
Right here the working miner often
makes his greatest mistake. He has
become so enthused and confident in
the reserve powers of the mine that
he prefers to retain n small interest in
stead of selling the property outright.
This offer TO part with the greater por-
tion of the property. for the necessary
capital to put ii upon n grand working
basis, hcgets distrust in the minds of
capitalists. instead of. as he roolishly
supposes, having the opposite effect |
The greater the concession of interest
he makes. in the progress of negotia-
tiOns the greater the distrllSt until |
the deal finally falls through and he
finds out later that his action of his
manufactured Il prejudice against his
property. which renders difficult. if
not abortive, all subsequent attempts
to sell it. There are occasional eycep-
tions. hui this may be accepted as the
general rule. 1t would be far better
for the working owner to attempt to
sell absolutely rather than to aim to
associate capital with him. 1t would
be better for all concerned to recog-
nize the fact that. there being neces-
sity for capital. capitalists should be
absolute owners. If the miner would
simply represent the fact that he has
reached the limit of his ability to han
die profitably good property. and
that, therefore, he wished to dispose
of it at fair valuation upon the ore
in sight, including Il reasonable esti-
mate upon the resources confidently to
he expected, but which are not in
sight, the proposition would be great
ly simplificd and much nearer what is
termed business transaction. Capi.
talists would begin TO look for such in
vestments and would not jump into
speculations before the period when
capital has become absolutely essen
tial.-Mining Industry.