Evening journal., 1905-11-04
M|LL|0NSA MONTH
FOR MINING STOCK
Fever Of Speculation Ram
pant in the Nevada Gold
District
"WILO-CATIERS" ON THE DECLINE
speoIaI % the EvenIng Ionrnal

fahlpahl. oplali-ity speculators and ''big
ash that sent their money into the dis
trict over a.year ago and have since profit
ed tremendously by the development OF
the mines, along with the thousands who
are just being educated 20 the possibilities
4 Of speculation IN mining shares. are pill
tifug rthclr' money IN. through every cham
4 mel. From small investors. the money Is |
\ coming direct; from the big ones, it Is
coming through banks and brokers iocat-
ed Ia the large cities The interest seems
general throughout the country. and even
British Columbia, Cuba, and Hawaii are
supplying capital for the mining COM
panies to operate here.
Old-time observers on the ground, who
have been through the Leadville, Cripple
n creek. Black Hills, and KlondilSe excite
I ments, ascribo all of this 70 two facts.
They point out, FIRST that the public.
through tho life insurance exposures and
the Lawson revelations. has lost conh-
dence IN the industrial class Of invest
meuts, and It IS but natural that mining
Investments should now become popular.
Again. the recent exposures In the West
OF "wild-catters." or men who promote
fake mining companies. has purified the
atmosphere and the day of the charlatan
in mining appears to be past.
This is especially true in Nevada. The
mining communities will not tolerate
"wiid-catters" IN their midst. The banks
absolutely refuse 70 act FOR them as de-
positorles Besides, Uncle Sam is vigil
lent. and the postal inspectors keep a
sharp lookout,
DECLINE OF "WILD-CATTERs."
Goldaeid. Bulifrog and Tonopah are
congratulating themselves. In no field In
the history Of mining did "wild-catters''
work to such advantage and reap such re-
wards as at Cripple Creek. Colorado.
When gold was FIRST discovered there, the
extent OF the mineral zone was so uncer-
tain and the formation SO new TO pracu-
cal mining mon that the district proved a
most profitable field for the ak. Hundreds
of thousands were made by those who se-
curad outside properties OF absolutely no
value and promoted companies for the
sole purpose of flooding the markets with
mining stocks that we're worth no more
than the paper they were written on.
AS result, the great camp Of the
Centennial state sunered Incidentally
and bona nde operators found difficulty
In disposing Of their treasury stock with
which to realize sufficient money TO carry
: on legitimate mining development. II
took Cripple Creek fuily three years TO
recover from the black eye the district
thus received.
Colorado visitors 10 Nevada mining
? camps notice the difference IN condition.
4 at once. Men Of experience in mining
l who have followed closely the develop
ment Of every district in the West for the
J past thirty years and have been amoni
= tho first to investigate reports Of new
finds. quickly observe tho absence Of the
"wild-catter" here. Companies in Tono-
pah. Goldheld and Bulifrog that are now
developing promising prospects arc prose
cutting their work in "a systematic manner.
and the investor In treasury stock for this
s purpose is getting "a run for his money.
= There are several such companies oper-
s atiug along tho course Of the great vein
D system OF Tcnopah, particularly TO the
; west Including the McKane, Red Rock
Consolidated and others. One company in
y particular-the Monarch -Pittsburg Exten-
sion Mining Cimpany- is selling shares
of treasury STOCK in small blocks through
out the country for less money than the
management was recently offered for a
controlling interest in the corporation. A
N shaft is being put down to great depth
through the lode porphyry. and every ef-
e fort Is being directed toward the making
e Of a producing mine in quick order.
r SHARES AS COLLATERAL.
Shares Of stock representing holdings ir
p mining companies here. in Tonopah and
y in Bullfrog have actual intrinsic value
and are accepted as collateral for loans
> by the banks OF these camps and by sar
= francisco banks-San Francisco being tn,
nearest big city. Some remarkable for,
~ tunes have been made by judiclous invest.
" ments, ana the early treasury offerings OF
y many companies now represent holding.
r. in big paying mines.
When Charles NJ. schwab bought tn,
r Tonopah Extension the stock was beinz
Al sold on open market at 20 10 cents PEI
10 share The "sharp-shooters" on tn,
q ground bought the security al this figure
realizing that IL represented "a chance for
" a turn. After the steel magnate secured
y control ana commenced active develop
ment OF the property the stock advanced
!, in nrice with strides. and is now com
= mandng IN the neighborhood OF 5000 PEI
Il share Any bank in Goldheld. Tonopah. o.
IN Bullfrog will lend $500 per share on
i and ask no further questions
,e The same is true Of many other secur
IS ities Of Tonopah. including Tonopah Mid
way West End Golden Anchor. Montani
and many others. These were put out a
from. 10 TO IS cents per share, and are noy
selling at anywhere from 90 cents 20 s2.s
y per share. In one case-that Of the Tono
a pah Mining Company-stock orlginall
q seld at paEs or S1OO per share. and is nov
selling around $500. only one Of IN
h mines Of Tonopah is five years old; mos
D. Of the others have not been under deve
ID opment over two and a half years.
lie Here in Goldheld stock in the Combina
i tion Of the par value OF 800 per share
Al with "a capitalization OF 10000 shares, wa
" originally had for 17is cents per share.
e cannot be purchased at SO per share e.
! day. The mine is paying dividends at tn
rate Of 100 per cent. per annum.
GIFT or ssOoOoo
l. One-half Of the entire capital stock o
Is the Goldheld Mining Company was sive
" away for 5000 worth Of assessment WORK
The stock is now selling at 60 cents pc
ID share. and the owners Of the controllinl
p interest would not part with all Of thei
pc stock al par The original investment o
pa s,Oa has attained a value within eighteei
rs saa.lna rrba rfIorauon mime ID