Idaho Springs siftings., 1903-06-27

Extensive DeveIop-@
ment of the Property
Will Begin at Once. II


the former owners for the DEVELOPMENT
of the property will be continued, as
this is by all odds the cheapest method
of working mines, and the property
could not be better situated for such
work, with such a com bination of con-
veniences and facilities it can be readily
seen that the expense of output and
treatment of ore would be reduced to
the lowest minimum of cost
Knowing the location of the property
as we do and the men back of it we con-
slider the proposition promising indeed
and of great possibilities and heartily
wish for the Santa Fe Mountain Gold
Mines Company unbounded success.
Stock Selling Legitimate.
In connection with promotion and
miniug industry in general, we wish to
say word regarding the sale of stock
in mines. The question is often asked
why local parties do not take up all these
mining enterprises. If people would
stop to consider moment, we think
there would be no occasion for ques-
tions of that kind. 1t takes money to
open mines and make them producers,
and the miners in organizing stock COM
panies do just what the railroads and
other large industrial enterprises do in
the east, simply so arrange their affairs
by the organization of stock company
so that small interests can be conveyed
to separate individual and in that way
secure necessary capital to carry on the
business of the company.
IT we of the west had to depend for
the development of our great mineral re-
sources upon the individual efforts and
the capital of any one person very small
progress would be made in comparison
with the progress now being made I'M
der present methods.
Mining is legitimate business, there
fore the Incorporating of mines and the
sale of stock in them is Just as legiti-
mate, when honest methods are persued.
We believe that at least four-ffths of the
great producing and dividend paving
mines of the state have been developed
and put on paying basis by incorpor-
ating into stock company and sale of
stock to put the property by develop
ment on paying basis. In view of
these facts the mining men who organ
ize company and sell stock to raise
money to develop property do not need
to apologize for so doing, they are sim
ply following the example set by other
great business enterprises and indus
tries throughout the country.
Knowing the condition of the mining
industry as thoroughly as we do, we are
not ignorant of the lack of capital in the
west generally, and in the local camps
to carry out the much needed develop
ment of our great mining resources, in
other words the west is long on resour-
ces and short on capital. 1t is there
fore natural and perfectly legitimate as
well, that the western miner reach out
and ask financial assistance from east
ern people, where money is more plenti-
full and the opportunity for profitable in
vestment not so good, to assist in devel-
oping legitimate mining enterprises.
This method of raising funds for devel-
opment of the mining resources here
locally, has been put in practice, and we
are glad to say that the propositions Of
tered to eastern investors have met with
a hearty response and we think in al
most every instance this money has been
honestly and judiciously expended, not
all have been winners, but in many cases
big profits have been returned. We
think the method founded on sound bus
mess principles and when the proposition
is legitimate there could be no fairer in
vestment offered the man with the
money.