The Marble times and Crystal silver lance., 1900-12-21
The Promoter and His Critics.

The promoter who investigates the
value of q mining property, places it
upon the market and secures its sale
sod development Is engaged in q
wholly legitimate business. Without
his services even the best mining camps
would make slow progress. The fact
that there are reckless and dishonest
promoters, as there are fraudulent
dealers in all kinds of business, is no
Impeachment of promoters as class.
On this subject the following from the
Western Mining World is very much
to the point:
SIT is quite the fashion of some men,
seemingly in the gosling period OF mine
investigation and experience, and men
who have invested less than five hun
dred dollars in mining shares with the
unwarranted expectation of gaining
an independent fortune, to criticise
and condemn the position and practices
of the organizer and promoter OF min
ing enterprises. A contributing writer
to a very conservative and reliable
mining journal contends that the mine
promoter should not be accorded the
liberty of horse breeder, merchant,
real estate dealer or promoter OF
industrial enterprises, but should de-
vote his time, experience and means to
the free instruction of spectators in
the art of procuring wealth out of a
small investment, the promoter to take
pot luck with them pro rata with his
individual financial contribution, and
then only when the other stockholders
consent to his disposing of his hold
ings.
"a real estate dealer purchases a
tract of land, mainly on credit, sub
divides it into town lots upon each of
which is plastered mortgage repre-
senting each lots proportion of the
purchase price. The lots are then put
upon the market and sold subject to
the mortgage, and no one verdantly
asks the dealer how much the land
cost him or how long he expects to re-
tain ownership in every third lot he
has withheld from sale.
'The promoter of industrial enter
prises obtains an option on . manu-
featuring property, organizes = com
pany and sells stock and the purchas-
ers are Indifferent as to the profit the
promoter has realized. They made
their purchases upon the belief that
they were obtaining good thing.
"The well equipped mining promoter
has acquired his knowledge Of and
experience in the intricate phases Of
mining through the expenditure Of
much time and money, and his know
ledge and experience is his capital,
for the use OF which he is entitled to
compensation as we'll as the lawyer,
doctor or professional mining expert.
He has the legal and moral right to
buy q mine for $4,000 and sell it,
through the machinery Of incorpora-
tion, for GO, 900, as we'll as the real
estate boomer to buy an unimproved
tract of land for 5000 and sell it for
s2o, 900 in the form of prospective city
lots, although the lots be afterward
used as potato patches. The man who
has the experience and business acu-
men to secure an option on a mine of
merit, and organize successful enter
prise, is entitled to liberal remuner-
alton, which he will always obtain in
spite of lectures and warnings of men
who, oft times, will accept gift OF a
block of stock in mining company
for the use of their names or for say
ing just and kindly word favorable
to meritorious enterprise. Let the
promoter continue in his laudab and
enterprising calling, for he is the
nascent spirit OF progress"