The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-06-02
HOW 10 DEVELOP THE MINES.


Work 0Ad Money, Not Wind and
Cheap stock. the Requisites.
'sOnly an Outsider vigorously tells some
home truths In letter to the Province.
from which the following Is an extract:
Let miners clearly understand that this
them. Nowadays the London mining mar
ket II controlled by South Africans and
they are not likely to change. their meth
DDS for British Columbian modes OF opera
ton. In spite OF all the wfilful lies that
have been circulated from time to time no
British capital ~ coming. into the country
people learn that the time for work has ar
rived-not work by newspaper reports. In
terviews and picked assays. but real work
on decent, honest hasis--the better for
all and the country.
And as for capital: when you have
sufficient confidence to take your inter-
eigners will have sufficient confidence to
trust your mine with their working capi-
tai. But II you think THAI you are going
TO have many chances OF exchanging
doubtful prospects for golden sovereigns--
well wait and see.
london financial houses have been kept
lately very well informed and they mean
70 Gene In when 1t suits them and on their
own terms. and not yoa1re.
'sNow. sir, review the so-cailed financial
transactions that have taken place during
a Disgrace to the country? What do we
see? Simply that tnnumerable companies
undeveioped claims and no working funds.
The result Is that the country Is inun-
dated with appeals from yariosss men call
ing themselves mining agents (whose idea
OF mine " q hole in the grOune:) notify
ing that 90 900 shares are for sale at cents
each for the purpose OF development. THIS
blind imbecility OF the public which be-
lieves that a mine can be developed with
q capital OF $3.50.
But unfortunately you cannot teach
VIC 40 GEFA e44 mi. <su
las q matter of fact this is an expensive
mining country and you can safely es.ti-
mate that In the great ma jorsty OF in-
stances $iz5.00 viii not go far In making
q mine.
Let the public understand thar with
that have been foated during the past
twelve months are doomed to failure. and
ali the scrip--beautituliy printed WITH
large and elaborate ecais--so much waste
paper: Thsre villa BE- howl at this. bug
1t IS the truth. and the men who are work
ing the game know II To be the truth.
War Eagle quotes In answer YER 10 tbs. but but
do ls. liza have some other instances / am
tired Of having those evergreen minea
quoted as evidence.
What you have now right to DO Ia to
impress upon the public td demand balance
sheets from oil companies that have been
working for more than SIX mcnths and a
clear statement showing how many treats
ury shares have been sold, At what price.
how much Was paid into the confpany'n
account what brokerage waa paid. who
paid X. the vsndorz or The shareholder.
who pays for the advertisements and
printing Of certificates and what Itax been
done with the balance OF ths money. II
any.
Mind you. believe thoroughly In thu
mineral resources OF your country II
did not, and Others ike the would not ia
here. believe in your mines. but not in
your mcrfaods- You have q magnificent
country. but you are letting IL be spoiled.''