Mesa free press. [volume] (Mesa, Ariz.) 1892-1901, 1898-06-03
TIMES AND MINING.
MINING EXCHANGES AND MINING

w. s. Stratton, the millionaire mine
owner of Cripple Creek, is strongly of
the opinion that mining stock ex-
changes are of little value to legiti-
mate mining. He says:
IF could see wherein this trading
in indiscriminate mining stocks bene-
flied the mining industry in the slight
est degree, would have nothing to
say, but while have been unable to
see any benefits, have seen where it
has been a positive injury, and I think
fully as well for themselves and much
better for the State if they should de-
vote themselves to legitimate mining
and drop the stock business altogeth-
er. 1t has degenerated into mere
gamble on margins, If it was ever any
thing else, and the most tangible eff
feet is to disgust very many people
who would otherwise invest In mines
with the entire mining business.
"The stock business, even where it
is entered by brokers with the best in
tentions in the world, is demoralizing
to the brokers themselves.
"The people outside the mining
states look at mining and mining
stocks as one and the same thing, and
considering the representations made
to them, they are perfectly justified
in the belief. When they find that
the money which they have invested
is not in a mine, and not even in
representative of real mining value,
they promptly class the entire mining
business as delusion and a<snare, If
not an absolute swindle, ard unfortu-
nately too many of these schemes
that are foated on an unsuspecting
public are little If any better than
swindles, and the money that is lost
to genuine mining enterprises is of
much greater importance than all
that may be gained by brokers and
others in stock transactions"
On the other hand, writer in the
Mining Investor of Colorado Springs
has the following in regard to legiti-
mate investments in mining stocks:
cit must be remembered that even
the most careful investors in mining
stocks of a prospective character will
at times meet with disappointments,
but when one puts his money into
this class of security one should not
expect to make profits out of all.
Prospective stocks of considerable
merit can be purchased at very low
figures, and the realization of the an
ticipated strike and the future de-
velopment of the property into
mine, is accompanied by immense
profits to the owners of the stock.
It is not advisable to have all ones
eggs in one basket, but to have it dis
tributed among several well-chosen Sc
curities, where the success Of every
one seems to be eventually assured,
but where, did success attend only half
the propositions invested in, there
would still be very large margin Of
profit left"
The same writer, last quoted, tells
of a test which he witnessed of new
kind of stamp mill, which promises to
revolutionize this branch of the min
ing industry, if it works as well when
practically applied as it did when ex-
perimented upon. AS he saw it in OPP
GRAFTON, single stamp was. crushing
at the rate of from seven to eight
tons per day of twenty-four hours,
which is about four times as good
as the average stamp mill now work
ing in Colorado, California and else
where. Besides having a large daily
crushing capacity, this stamp is said
to have other meritorious points, such
as the preventing Of shines, and even
crushing, which will recommend it
when the machine is finally complet-
ed and put on the market