The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-25
ROOM IN MINING STOCKS.
propIE IN THE WEST EAGER TO IN
YEsT ~ NEW PROJECTS

Moro New Companies This Year Than Ever
p.f,rr-Process of Development OF n
Nne-Tricks of Mining sharks-Some I'm
enacted Fortunes From Mining Shares.
povoy.. Cal. Dec 1o.-There never was
,,r,o In the West when more mining companies
and associations were floating stock than to-
dav The remarkable boom In copper
n,operties. the discovery OF new goldhelds. the
m',.n.nal demand for lead and silver ores by
,he shelters. and the large profit OF working
u.s., Grade aurferous ores by the cyanide and
attenuation processes have had much to do in
..so,inu the activity now existing In all
800. Of mining properties in the Rockies
"a tho sierras But the chief factor In the
i.,.,d for mining shares and the formation
=, new mining companies Is the abundance OF
u,opey an the general desire to reach wealth
Nv short, speculative routes
The number OF mining companies incorpor.
s,ed in Arizona in lSiD has been p per cent.
greater than in any other year, In California
some 800 more mining companies have been
Incorporated since Jan. than in any other
,ts period in the history OF the state
More gold. silver and mining companies have
h,.n formed this year in Oregon. Idaho Mon
,,na and especially Colorado than In any
former year During November more mining
companies took out incorporation papers In
Idaho and Arizona than In any three
months in dozen other years. and the
chances are that the beginning OF 1900 VIII
see even greater activity in metal mining
than any periol Of this year has eNhibt-
TAD A san Francisco mining journal re-
csntly estimated that from Jan. |. 1870. to Oct
some thirteen hundred gold. silver. lead and
coprer mining comranies have been incorpo-
,sted between the eastern slope of the Rocky
II .pJ /, hn arll
thorZed capita % $ilOOOO.OOo.
In the cities Of Denver. III Paso. San Fran
cisco Butte. Los Angeles. Colorado Springs
and Portland. Ore. one hears OF new mining
operations on all sides. In Los Angeles and
Portland there are dozens OF Handsomely fur
nishrd offices IN the best buildings in
town VIII Oh are row occupied Us headq rtera OF
mining companies where there were only few
A year or two ago Mining stock promoters are
met everywhere out here nowadays. In the
hotels on the cara. Oh the cur bstones and in
business Offices. Samples of precious ores are
exhibited in shop windows. in hotel Offices
end behind bars In saloons. Old and young
alike tax Of mines and what the prospects are
In this. that or the other newly or
ganized COMPANY Men and women who
never invested before In mining shares
OF any kind are taking flyers In min
ing stocks Meanwhile. a large number ~
the newy Incorporated companies have agent,
busy in all the cities and towns In tn" Eastern
S,a.es selling stock. and the -ulvs which h.
agents report 10y telegraph ~ the Western
headquarters every day are far ahead OF any
thing aver before known out herr. one agent
for an Arizona gold mine In which
less than 5000 worth OF deve opment work had
heeu done and which was merely good pros
poet recently sold in New York al! tha 100000
shares h. offered at ten ccLts share in ons
day last week another agent who had never
hefor" been east ~ the Mississippi River
sold from few srecim"n bits Of ore and a
map ~ his proper e. more than $4,000 worth
n copper mining shares in two hours In
rhiiaie ph.a Scores u, men who were
never trforn surcc-siul as mining pro-
motors or n mining stock salesmen
have made snug fortunes by Their
Efforts a. sa"smen in the East this year l. Is
estimated that New York capital ~ the amount
OF s3.iUoOuU has been invested in Arizona
N'on. during 1870. The greater part 90 the
Investors hav" never been in Arizona
and would not know gold from silver
ores II they were 10 the two
side BY side. but they have heard Of the
wonderful flights some mining share values
have taken. and o. he Thousands OF dollars
dollars have yieLe in a year or two
and they are glad Of a chance to try
their own luck in mining. The Denver
ard the Colorado Springs Mining Exchanges
have done the largest business since the
trirrl" creek AMI Creole mining excitement
IN l'9t. and tn" San Francisco Mining Ex-
change has done this wear the hest business In
twen'y-iour years.
Why, never before in all my thirty years
experience said veteran mining promoter
who cam" tack 10 Los Angeles from Boston
New YORK and Cincinnati The other dav have
] seen anytlin' Ike tho way those Eastern
folks nov want mining investments QUAD
men 10 conservative u,l Albany an cautious
Har''or who used to laugh me- to scorn when
lhIrrhrh"d them to Inv N ming shares. bu,
wru a'ry wr"nmal me and snapped my
l.ar's ~ like \ steel trnr. enc man in
Bro1k','. who to'd tha; h dropped
$500 IN mining scheme in Utah twenty
YEAR ago and la / hated the very word
min" ever snr-. simply took few hours "a
chew urou my pro- pe"'us 4 to have al a.
saver examine The specimens from my mine
Then h" wrote his check for $1,000 with
newer 'r"mor in his cautious hand. and gave
n 70 m" for l2O.OOI shares o. our mining
s'o"k Oh, II wonderful change has come over
H." whoI" fas' during the last few years con.
corning mining properties"
great many people who can never he In.
dnced g. buy anv other stocks or to speculate
IN hnr other manner are perennial mining
stock hny"rs IN III" West. Every rown and
hamlet II the Western states and Terri
tories has Its residents whom gold and
SILVER mines have made rich and poor alter
hat"ly Every community ont here has resi-
dents who can seldom resist a chance TO invest
~ east litle in u new min ing proposition
livery town on the Pacific Coast has lOca
history NJ how John So-and-so bought min nl
s'""N ipr 500 few years ago and sole
oDtA few years. later for $4,000 or Sl5.OOO
ana lust az many towns also have stories o
low This or that man once lived in n fine house
drove IN his carriage and had many servants
nv ls now refucad to poverty because OF sons
unfortunate mining Investment or by reason
. ~ Son" rnscally trick Of n mining firm or cum
Ihhy Thousands OF people In San Francisco
once bel eyed tn mselves worth vast fortune!
IN n" 'omstock mining stocks. and have beer
IN nhy"rty ever since the shares went tumhinl
rom 500 and 500 to less than $50 durinI
August. 1873, Stil.the California aud Colorado
gold mnos alone produc. more than $40,
""Wr every year. and new millionaire mner
are being constantly created all over the West