Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1903-02-07
ABOUT MINING FAILURES.

reasons why there are SO many
failures in mining enterprises, and
following are some of his don It's"
Don't invest money on the
strength of printed prospectus
without preliminary investigation
by reliable engineer.
Don't invest in a mining compa
ny which guarantees dividends.
Dame Nature has something to
say about that.
Don't invest in a mining COM
pany which is selling treasury
stock and paying dividends at the
same time. If the mine is earn
ing dividends the company own
ing it seldom has legitimate in
terest in selling more stock.
Unless you have sufficient ex-
perience as mining engineer and
metallurgist, and the amount of
your contemplated investment is
inconsiderable, employ reliable
experienced engineer to report on
the property. Don't do this your
self unless you are born eternally
lucky.
Once you have invested in a
mining enterprise, insist on fire.
quent and complete reports COW
ering operations at the time. En-
ploy competent superintendent.
Don't take your son or nephew
out of your store or business house
to send him out to run things" at
the mine Sell out first.
Don't spend all of your capital
on top of the ground. Do some
digging Don't buy too much ter
ritory. Mining claims are cheap
Concentrate your operations and
your capital at the points where
your ore bodies have been found
Additional surface territory means
nothing unless it contains ore.
Don't expect your ore to grow
richer with depth. 1t may gain
in quantity but seldom in quality.
Don't build a mill or a smelter
or reduction works until you are
certain you have enough ore avail
able to keep the mill in steady
operation, until at least it's initial
cost is recovered. This advice is
ancient and worn from constant
repetition, yet there are innumer-
able mills and smelters dotting our
western landscapes today which
hardly turned a wheel because
the supply of ore was insufficient
or unsuitable.
Don't build your reduction
works until you have assured
yourself beyond all doubt as to
what kind of a process your ore
requires to yield up its values.
You can adapt the mill to the re-
quirements of the ore, but you
cannot manufacture an ore to run
through any particular mill or
smelter. Spend time and money
in finding out first what process is
peculiarly adapted to your ore,
then you will leave behind you no
silent enduring monument to folly.
Employ competent, experienced
metallurgist to practically test
your ores before. building mill.
Most any process works all right
on most any ore in a chemical
laboratory, but in actual work on
a commercial scale there are other
conditions to contend with. 1t is
we'll to find out what these con-
ditions are before spending money
on reduction works.
I realize that the suggestions ]
have made and the remedies
have advanced with a view to in.
surfing greater safety in mining in
vestments are ridiculously simple
and self-evident to the veriest
tenderfoot; but this being the
case, | will leave it for someone
else to state why business men
continue year after year to make
the same mistakes in their mining
investments instead of proceeding
along these lines of greater safety