The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1903-10-29
MINiNG swINDLERs.
Csod Work TO be Performed by
Cham Der Of Commerce.

ing TO take cognizance hereafter oil
fraudulent concerns operating In this
State 10 one likely TO have a deterring
effect spon euch schemes 10 the future.
While In no sense lie it intended that the
c ssmbsr OF Commerce will enter into
any general Investigation OF the merits
or dement's OF any enterprise legiti-
nstely conducted, or go into the de-
sective business TO ferret out swindies
In any lbrsnch Of business. yet when
fun and complete evidence ia presented
70 II showing beyond doubt that con-
csrn 10 fraudulent, it will take action
calculated to protect innocent parties
add preserve tho good name OF the
State. The Chamber Of Commerce is
70 ~ commended 10 taking this action.
Suck . protectorate TO outside invest
ers has long been needed In Nevada for
the' resson that IL has bcen-perhsps
I'd nhore than other mining States
TIN location Of number of gigantic
uihinR sWindles which have fiecced
eastern people out Of thousands and
perhaps millions Of dollars. Tho Cali.
forhia- Nevada Mining Co. which oper-
stsd near Rye Patch 10 Humboldt coun-
" lsst year is an example OF a concern
which secured valueless mining prop.
srty. organized million dollar mining
company upon 1t rs basis with head
quarters a. Los Angeles, induced some
eastern bankers under false statement IT,
10 become Its fiscal agents and COM
menced advertising In every eastern
paper to sell stock. Its prospectus
declared that there were untold mil
lions In sight 10 the mine, that 1t was
censtsntly shipping high grade ore.
spd that It was erecting = magnificent
nil. From the ore alleged to be sh ~
ped . dividend OF ten per cent per
monsh was paid to stock olders. The
proposition was so good that the east
won't Wild, and between half million
6sd one million dollars worth VI stock
Was sold. 1t Is unnecessary here TO re-
lsto that the company never shipped
Sny ore, never erected any MILL never
had even good prospect-still less r
nius-and never had but three or four
men At work upon IT at any one time
The ten per cent dividend was paid out
ofsteck subscriptions as bait to catch
others. All this Was well known at the
place where the alleged mine was stu
stsd tut the great swindle was treated
With apathetic tolerance.
w hat Is the result OF such frauds as
these? Simply that the man with 3
legitimate proposition -uffers He finds
when be goes to sell stock that the par
ties who might otherwise buy have
bean cheated by the other compan,
8nd will have nothing more TO do with
Nevada mines. He goes to their neigh
bOrs and finds them informed hoa
Saith or Brown got swindled in Neva-
dasnd they will not invest.
: Such is the feet Of mining swindles
The good name OF the State is injured
and tho honest operator suffers.
The Chamber OF Commerce need not
show up more than one or two Of thest
fskss before the lettering effect OF il
upon others will be felt and the bene-
hcfsl results obtained 10 tue way Of Civ
Ing legitimate enterprises located her,
'bsster standing Reno Gazette.
= UnIess the 6scsl sgsnts n charge q
the promotion OF some mining prop
dirty Ia this camp should change tbeii
present method OF mining on paper AZ d
engaging In such Who'll. sale exagger-
ati0ns VI the true merits sof the prop
arty Ia their command, and also ceas,
TO apply the money raised from tn.
sale OF stock for private and personal
BENEFITS instead Of apprs priatipg it foi
logitimate work on the mines, there
will be something doing here to expose
their corrupt methods. and the Rem,
Chamber OF Commerce will, In all prob
ability, be asked to take hand in tn.
game. II 10 regrsttaule to note the
amount OF injury done legitimate min.
ing In this section by the exaggerated
statements being published by these
'sharpes and circulated over the countr,
eohceruing tho developm, nts Of tbs
mines, building II Mills. smelters. ETC..
ahsn such fraudulent procedure il
carrsGd on against tie wishes and gooa
juAgmcusef TIE mine owners aud ma,
sgerS Sch's fsenb rnufe- ~ adv
tisihg the IN j ,iAs.t a. mincs is alb
solubsiy " jns fl - nj IN -.e.sars
u hall o. '.ae asea., sp-ut Il, thes
faxes iD advertis ~ siai leg sr. uubt
offehat wns-uVi-- lis G.ae at III. |
mines wera pub irin hetn ior sc.us
work the raul would b,
that capital weuld be- seeki'g invest
mAnt in Thorn i,sieao Of new being
lsught for.
Fortunate, s me Of our b st mining
BoppA is- ar golrg steadily 90 with
rood legitimate dsselonment work
wlthous M ,g goat fuss about IL
md telling lss word. through a Is II
,hsrps~. that lie, have put ore mar
o WORK This comp.pi viii soon
N nounce 10 tL. public In uhmist k.--
bic terms The value NJ their mines b,
h. production II bullion
However, II nov Gitlv,sn Ia sound
warming TO the ip,esting ,uh'ic 10
OF the o,er.capits ia nj lion
ompsnies that art h3aaiar th4 niarket
a. f..x- 81 - l..i