The Sumpter miner. [volume] (Sumpter, Or.) 1899-1905, 1901-02-27
AT Present Money Is Seeking
Investment in Mines.

changeable as women's fashions. and
sometimes seemingly as devoid Of cause
and reason.
At one time all idle money Is looking
for investment in farm lands; the next
season town lots are the proper things to
buy; then comes industrial stocks, fol.
lowed by railroad securities, and so on
down the list Of things thought to be
money breeders. Under certain circum.
stances, 1t Is true that capital Is timid; It
Is slow, very slow In v,nturing into any
new channel Of investment: but once
started In any particular direction, It loses
all Its timidity and dashes In with bold.
ness that Is nothing short Of recklessness.
For several years past mining has been
played for pronounced favorite, and will
doubtless hold the lead for years to come.
This Is one Of the few financial fashions
that chances to be based on common
sense, but the people who are investing
money In this royal industry, in nine
cases out Of ten, don't know what in the
great advantages consist. But this Is
merely incidental and will not be dwelt
on here. The gratifying fact Is that at
present men and women Of ample and
meager means are now looking for good
buys In mines and mining stocks.
Even In this line. the popular desire Is
subject to change. A few years since
everything IN the way Of mining stock
certificate found ready sale. The result
was inevitable. Unprincipal operators
turned lose on the guileless public nu.
merous flock Of wild cats that soon alb.
sorbed many thousands of "easy" dollars.
Then there was the reactlon-a condition
that Is equally as certain as death and
taxes. Without warning, almost in a
day, these reckless plungers in worthless
stocks became extremely conservative.
Everybody wanted developed mine, a
producer. dividend payer. Every man
with SI4o to invest demanded a sworn
statement as to the amount OF ore blocked
out, the values on every level, the cost Of
mining and milling. On this basis min.
ing Is as safe an investment as United
States bonds, with a chance of being
whole lot more profitable. 1t therefore
"comes high" and practically shuts out
the man of small means. He might as
well take up ten per cent mortgage on a
quarter section Of land in North Dakota.
Now there is being inaugurated another
and altogether better phase in mining in.
vestmentS; better for both the investor
and the industry. 1t was found that in
the indiScriminate buying Of all kinds of
stocks, money was necessarily lost, and
that there is only fair interest to be
made by buying into develope d dividend
paying mine. Much money. many large
fortunes have been made in mining, and
investigation Of the subject has evidently
lead investors to believe that these al.
Turing profits accrue from developing pros.
poets into mines. And this Is the truth,
the whole truth and nothing but the truth.
And SO it has come about that much cap.
ital is now going into development work.
Men of means are bonding claims
and investing their money in sinking
shafts and driving tunnels. Those Of
limited resources are investigating stock
propositions offered and If satisfied as to
the property involved and, more especi.
ally, as to the character Of the men hand.
ling the affairs of the company, are buy.
ing treasury stock. This Is the wisest
course to pursue.
A comparatively safe rule Is to demand
treasury stock. That means that your