Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1898-08-16
NEW MEXICO HARMED
How the Mining Industry of This
Territory Suffered from Wars
Blighting Influence.
CAPITAL FLED TO COVER
Unmistakable Signs of Returning Prosper
ity Witnessed in All Parts of New Mex
leo Since Hostilities Have Been
Declared Off.

When the present year opened the
prospect was that more outside capital
would be invested in the development of
the mineral %Sourc of New Mexico
during the ensuing six months than
during any previous season in the
history of the territory.
But, just as negotiations were being
consummated for the money necessary to
initiate and carry forward many new
and promising enterprises in the several
mining districts of this resourceful
region, came the declaration of war
between the United States and Spain,
and the idle millions that had been
eagerly seeking investment in mining
and kindred industries in New Mexico
and elsewhere in the Rocky mountains
instantly fled to cover in the strong
boxes of the great cities or found more
congenial and lucrative employment in
filling the enormous government con-
tracts necessitated by the new and
unexpected conditions.
This fact, combined with the fact
that hundreds of our most energetic and
enterprising men hurried to the front as
volunteers uIlu uuC lllllluS VI lIlOSC VIZ
remained at home were diverted from
business by the absorbing study of war
bulletins, so seriously disturbed the
financial and business world that
practically nothing has since been
accomplished in the country outside of
army and naval circles, and no part of
the country has suffered more from
these blighting influences than New
Mexico.
Apropos of these remarks it may be
| stated that during the month of July
only one set of corporation papers were
| filed with the territorial secretary, the
fees for the filing of which only
amounted to 81, while the fees reported
by the secretary and paid over to the
territorial treasurer for filing similar
papers during the first three months of
1898 amounted to over 81, 200. AS most
of the corporation papers filed with the
territorial secretary relate to mining
enterprises, no more conclusive proof of
the depressing effect of the late war
upon the mining industry in New
Mexico could be presented than these
significant official facts.
Indeed, as it is certain that the most
important mining plans contemplated
for the year had only been partly
matured at the close of April, it may
reasonably be added that, except for the
war, the number of corporation papers
| filed in this territory during the second
quarter of the year would have largely
exceeded the number filed the first
quarter.
These observations apply with almost
as much force to the agricultural, stock
growing and wool industries of the
territory as to the kindred industries of
mining and reducing ores. So that no
part of our grand and branching
republic has more substantial cause to
rejoice that the war has been trium-
phantly and honorably terminated than
New Mexico.
Already the unmistakble signs of re-
turning prosperity are witnessed in all
parts of the territory, notably in the
mining districts, and the New MEXICAN
confidently predicts that the bright hopes
of January will begin to be realized in
the early autumn and that the financial
shake up caused by the war will in the
end result in permanent good to the
territory.
Fortunately mining and milling opera
tions of all kinds can be quite as con-
veniently and economically prosecuted
in New Mexico during the winter months
as in summer and there is no good rea-
son why the carrying out of the partly
ripened plans of last winter and spring
should now be longer deferred. 1t be-
hooves the people of New Mexico in
stantly to get a move" on themselves
and start the ball rolling with all posi-
bic energy and earnestness.