Bisbee daily review., 1904-02-09

For some time past BiSbee has been the scene of the perfectinS and cul- rnination Of several large deals where hy good mining prospects, situated in the Warren district. have been trans ferred 10 influential capitalists, who are associated with experienced min fng men. for the purpose of develop nhent and equipment into paying snInes. The near future will see not S little promotion along these lines,
 .sd from time 10 time there will be mueh property throughout this ter Eitory purchased or secured through bond or lease with the end 10 have it properly and systematically exploited. Numerous parties have been and will Ge involved in the deals, and there fore it wII not be amiss at this time Co state few truths on this subject.
 Usually it is less difficult to place Ealue on a developed mine than on good prospect In the one case fhere is q tangible proposition-a de xeloped mine. The shafts and tun- hsls. with numerous connecting raises et winzes, block out the ore into sec t5ons of greater or less size, which nay be inspected on three or four sdde. The variable widths of vein may be observed, and the average com stlsd with hppIpxhuaQe acSu1ucy. This, together with the assay value d the vein at stated distances ehroughOut the mine cuttings. turn fshes basis for estimating. Ore actually in sight, probable ore and possible ore, and the value of the mine. prospective and present, are thus arrived at. The securing of de- Sailed information of this sort is d more or less lengthy process, requir- Ing good judgment. skin and honesty, and if any considerable amount of money is at stake, various precaution- ary measures must te taken to insure that the samples remain intact, and Gbat no opportunity is presented for salting them by any person who might he disposed to do so.
 With the prospect it is different The development and ore exposures are limited, and there is little upon which to estimate the value of the property. The vein may present a good appearance and conform to the usual conception of the geological re- Qnirements of vein which has else Hhere been developed into a profitable uaine. The values may be present Tn anficientIy attractive amount and still no more than a prospective value can be placed on such property. The scwner usually places his estimate G1gher than any other person would, and an experienced mining engineer, Jehile admitting its great possibilities, Hpuld probably place lower prospec- five valuation on it than the owner, ecen if he were employed by the lat Ger to examine and pass judgment on the mine, it's requirements and its fu- lure possible value.
 Ut is an easy matter to condemn prospect, disregaTcing what may be eSident and allowing nothing beyond What can actually be seen. The min Ehg engineer, to preserve his repu- 1SllCu, muSS Ol hcCcoSiIy " S"N~ANoS' kut he need not be pessimistic, for fiis uftra-conservatism may later work Go his disadvantage. The man of ex- erpr,epce realizes that mines are made, and their making is in most cases slow and expensive process. Some of fife most noted mines of the present day have within their history been on <he verge of closing down permanent . Ay. but by persevering and introduc- Shg methods which would reduce ex- senses, the properties have been pull eh through a period of depression, and a,xe today largely successful and profit able.
 In these instances an engineer mer-cautious or fearful of making a aistake. would have closed the prop csrfes and it would have been many years before they would have been Teooened. The prospect, if it is good one, always has a speculative ralue and this value is an unknown xr,antity. In view of this fact stat en value is fixed upon it, and the mine must then work out its own sal xation on the progressive plan. It 6s not evident that it is a greater crime to oyervalue a good prospect Sian if is to oyercapitalize an indus tfiaI stock in some other line Of busi- Uess.