The herald., 1897-11-16
OFFICE OF THE HERALD.


In considering mining investments. the
Mining and Scientific Press offers some
sound advice to the effect that the investor
should carefully distinguish between
mines" proper and prospects" While
this seems trite, says the Press, there Is
no point moro commonly lost sight of by
those who purchase shares In the various
mining ventures proposed to the public
All mines begin as prospects" but It does
not follow that all prospects" will de-
velop into paying mines Its location does
not necessarily imply that mine is val
liable; being in the "wcll known mining
district" does not give 1t value. since a
portion of the territory of any mining dis
trict Is worthless for mining purposes
Being the extension Of the celebrated
.------ mine" or located on the "same vcin
as the rich ------- mine" does not insure
value. since the extension may be In the
wrong direction, and veins" are by no
means equally mineralized In all portions
OF either their length or depth being "ad-
jacent to- or alongside or some good pay
Ing mine In effect may mean that II Is
worthless as far as the work done in the
mine that may be cited proves anything.
since 1t may bo OH the side away from the
dip OF the vetn."
anu yot all VI tuc tHStduCcS SlNcu WUcil
properly understood. actually form a legit-
innate basis upon which to found an expec-
tation Of profitable business 10 the own
ers of u piece OF mining property or pros
poet A prospect" Is a legitimate subject
for investment: It's value Is of course
largely speculative. since the element of
risk enters into It. under any circum-
stances. but that is also the case in any
other investment. and Is hardly more than
hof uff he oP OF
In new railway enterprises. town sites,
trolley lines, building and loan associa-
lions, or even new banks, or other financial
institutions: the element of uncertainty is
perhaps greater, but on the other hand the
actual ready capital called for at the start
Is small and returns in many cases are
larger than those of any other line and, on
the average will compare favorably with
any.
A mime that is, piece OF mineral terri
tory. originally prospect, which has been
opened up by shafts or tunnels. various
working levels, etc. Is hardly speculation
at all. but Ia as much OF ON investment
as IA house and lot In any town or city
BY exposing blocks OF actual ore its work
ings have not only created real value, but
have provided the means for conveying
that value from its site TO the surface and
thence to market Such properties have
been put In shape by the owners by the ex-
penditure OF capital. whether money taken
actually out Of their pockets or yielded by
the mine. and by them spent on the mine
Is immateria! In such cases the marke,
value will certainly be high enough. and
with reason, to make the annual profits
near approach 10 the ordinary rate of inter-
est. assuring safe investment with but
relatively moderate returns.
Notice has been published OF the intcn-
tion to organize the Scottish American In
surance company which Is the Caledoni-
ans American company. 1t will have
capital of s2000Oo and a surplus of $lOO, eco,
and will commence business the first of the
year. Mr.. Charles II. Post will be presi-
dent and MIR. N. A. Mcneil vice. president
and secretary, Agencies will be estab-
ltshed IN all the principal cities.
Decisions in three rebate cases have re-
Gently been handed down by Referee Reed
of the anti-rebate court. Thy were the
charges Of Major Allyn Laws Of the New
York Life against G. NJ. Fennell of the
Mutual Life in Arizona; of the New York
Life against j. Wiesner. one of its own
agents In New York. and one against b.
r. Carter, a representative OF the Equita-
BILE in Shelbyville, Ind. The charges were
sustained In each case.-Weekly Under
writer. 1sa0
1T is not trifiing thing like decision In
rebate case that Is going to keep the ir-
repressible Gerald NJ. Fennell idle. The
companies will always employ the men who
ri fVy in, h4 ,H1t