Idaho Springs siftings., 1902-09-13

Siftings has demanded that the east
ern investor should investigate thor
oughly before he placed a dollar in any
mining company. 1t has insisted on
this because it believes that it is the
only way to successfully build up min
ing in this district. 1t wants to see
investors get returns for their money
invested-at worst it wants to see every
dollar they pay in honestly and fairly
invested so that there can be no ques-
tion on that proposition. No man can
expect an investment to be certain.
The great commercial agencies of the
country tell us that five per cent, only,
of the business enterprises established
each year are successes. Mining will
do better than this Fifty per cent. of
the mining enterprises of the Idaho
Springs district have proven success
full investments. Proof of this can be
furnished.
The principal idea is to give the peo-
pie of the East an honest idea regard
ing mining. They invest with the COM
pany that offers them the most without
stopping to think of the reasonableness
or unreasonableness of the proposition
made. For instance, we know of one
company that claims to have half
million of ore on the dump. or enough
to make a half million dollars. Its
stock is selling at , cents per share.
And it is selling, too. more rapidly than
that of any other company. The idea
is foolish because if this company real
ly had this amount of ore it would mill
it and sell no stock. Why do people in
vest in companies of this character?
Because the people of the East have
the wrong idea of mining. They have
read of the Floods. the Mackays and
the fortunate ones who have accumu-
lated millions in the business because
they found mines that Were rare, in
deed. as producers. They expect to get
rich as these people did. The chances
are 1,000,000 to 1 against them. Min
ing pays a rich profit and makes thou
sands of rich men, but there are few
great propositions that pay thousands
of dollars per ton from grass roots.
The investor should be satisfied if he
buys stock in a successful company
that will pay him twelve per cent. per
share per annum on the par value of
the stock. As Il rule, he buys this
stock at about % cents per share and
this makes his return nearly fifty per
cent per annum on the Investment.
Besides this, his stock is worth three
times what is was when he purchased
it, because the property is producing
and paying him modest profit.
1t is the duty of every man who in
terests himself in a mining proposition
to make a thorough and exhaustive ex-
animation of the proposition before he
invests-just the same as he would
We're he intending to invest in a mer-
camille establishment where an invoice
of goods, careful survey of surround
ing conditions, and an Investigation as
to the parties associated with hinr
would be an essential.
Yet people will invest in a mining
proposition the same as they would
play their money on a roulette wheel
and curse mining as an industry where
they lose. 1t is unfair to the industry
and such methods should be aban-
doned by the eastern investor We
want eastern capital and eastern capi-
tai wants Investment. Remove the
speculative and wild theory of mining
that obtains at the present time and
there are millions to aid in the develop
ment of the great mineral bearing
West and millions win be taken out
of the bowels of the earth to be sent
back to the eastern investors as a re-
ward for his Investment.