The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1903-11-12
OF INTEREST TO EASTERN
INVESTORS.


The eastern investor, as a general
thing, whether he buys shares In a
new mining company, or joins others
In the purchase OF prospect, expects
returns almost before his Investment is
a week old. He should not be blamed
for this, for he has heard so much
about big returns from mining oper-
ations that he has reason to believe
that new mine will turn out the prec-
ious metals almost automatically and
In a steady, inexhaustible stream, little
dreaming that before prospect can
be transformed into producing and
paying mine that it must be extensive
ly developed, that thousands OF dollars
must be expended in exploration and
mine equipment, and that large areas
of ground must be blocked out and
prospecting work pushed ahead for ex-
traction before heavy and steady pro-
duction may or can be maintained.
Those unacquainted with mining op-
creations cannot well understand the
long delays always incident to the de-
velopment of a mining proposition.
They cannot understand how it is that
q mine, reported by experts to contain
ore to the value Of thousands and even
millions OF dollsrs, cannot begin the
payment of dividends within few
months after work has been begun in
it's operation. These people want
quick returns. They want quick ac-
ton on their money; aud sometimes,
because of long and tedious delays,
spreading over period of two, three
or four years, with no immediate prof
its In sight, they become discouraged,
disguised, and begin to condemn miu-
ing In all of its branches.
And these people cannot be blamed.
They are honest in their opinions and
were entitled to their expectations.
The great trouble is that they do not
understand the situation and are I'M
acquainted with conditions surround
ing the mining industry. 1t is slow
work sinking shalt or driving II tup
mel. But two or three men can work
In shaft or tunnel at time, and
but few feet of advance can be made In
day. II a mining company had
million In its treasury, no greater haste
could be made, aud it is only until
mine is opened by shafts, tunnels, cross
cuts, wines and upraisos that an army
of men can be employed; and, to work
large number of men successfully and
probably, the mine must first be equip
ped with the necessary machinery, and
1t Is often the case that extensive re-
duction works must also be installed,
which, for good, sound business rea-
sons, should not be done until the man
agement is fully satisfied that enough
ore is blocked out and IN sight to justi-
fy such an expenditure.
But, when all of these things are ac-
compl.shed; when an abundance Of ore
Is in sight in the mine, when ample ar
hohkChhChAo hdNO ihaAt lOi I've
handling, either direct to the market
In crude shape, or after first being
sent through the mill. then the ore will
go out by the hundreds of tons and the
money will come in by the thousands
upon thousands.
1t Is the same way with farming.
The seed must first be sown; the crop
must be cultivated and the harvest be
gathered The calf must be full grown
before it can be marketed as beef; and
the farmer or stockman who expects
returns before the seed has sprouted
or the calf weaned from its mother,
would be the laughing stock of his
neighbors and friends.
So it is with mining. Returns can
not be expected until large amount of
preliminary work has been done; until
the prospect, passing through various
stages OF development, can take rank
as producing mine, equipped so that
q steady output can be maintained, III
the investor cannot wait until this
period arrives, he had better refrain
from making any ventures whatever in
mining affairs, and turn his attention
to 'get-rich-quick" investments Of
fered so freely through the columns of
the eastern press; for he cannot be-
come rich in day in mining enter
prises, remarks the Salt Lake Mining
Review.
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