The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1905-12-14
Bad Mine Management.

The greatest curse OF Lhe uihlus /
business is bad management. The !
public is pointed to fraudulent PFC
motion and stock manipulation, but
the worst of all frauds Is the incom-
petent manager who imposes himself
upon the investors as qualified en-
gineer and business man OF ability.
when in fact he possesses no technical
or practical knowledge OF the mining
business. While there is no invest
ment more free from risks than the
extraction OF bullion from the ores OF
mine, when common business intel
lligence Is exercised In the prosecution
of this industry, 1t may be safely
said that bad management makes 1t
the most hazardous OF all legitimate
Investments under the prevailing
Icustom OF making the berth OF mine
managers sinecures for incompetent |
friends.
1t is almost universal principle |
that mine management must be
learned In the dear school OF expert
ence. The history of the best mines
lin the world will convince any OBJ
server that they not only would have
been wrecked by nine modern, SO
called managers out Of ten, hut that
they were really made by the exercise
OF exceptional talent that had been
promoted by practical experience,
1t is Just as true that all failures are
due TO impractical management at
some stage of the progress from a
prospect OF promise to the silent mill
that stands as a monument 10 lost
fortune.
1t is not an abstruse business prop
losition to select a good mine invest
ment When even common prinei-
pies are observed no large invest
ments are made, in these days OF ac-
curate methods of determination OF
the extent, value and all lettering
elements of an ore.body. 1t would be
glaring example of stupidity on the
part OF any man to invest money In
a mine that did not possess merit. A
commendable precaution would cover
all the conditions OF value, quantity
and proven and approx ed method oil
extraction. 1t is easier to determine
the value of a mine than of farm,
mercantile enterprise or factory.
Nobody would venture an invest
ment In large farm, store or fac
tory business without assurance o
II practical management. But the nin'
investor trusts his fortune to som'
man who has made failure OF life
and is seeking an asylum In which I,
rest and reform; and at the sam
time enjoy good salary. 1t seem
that there Is a well-coEnected blaci
sheep or a conspicuous incompetent
that enjoys the controlling sympath
OF every mining company that finance
new property In the west. Ih
conservative farm Investor would no
consider for moment the PROPOSE
ton OF sending the nephew or so
Du who was shy OF his reputation In til
local social circle, TO manage hi
&c, sheep, goats, cows or horses; but Ii
L roue, the blase nepotist or the col
''~ spicuously incompetent friend, Is IL
,,r universal choice for mine manage
Mines are discovered and proven
mn possess merit before they are taken
by the promoters. Then 1t requil'
nd the most accurate exploration az
determination Of extent and value
ore bodies before the agents OF CAPT
alists will consider them. From u
discovery to the sale of a mine TO q
operating company, it passes throus
the most careful practical and tee
meal methods of determination
value that is required OF any bus
ness proposition In all the world
speculation. More merit Is requir
and more margin OF profit Is exact
from the man who sells mine tb
is demanded in any other busint
transaction. More positive valu
are given for the consideration
mine transfers than In any other
vestment. But when mines are p'
chased the buyers abandon all .
, r caution and deliver them straigl
way to the wreckers.
1t is too often the case that SO
dignitary In the eastern Office OF
mining company gets inflated W
the idea that he possesses all
brains that are required to ms
success in the extraction OF milli
from the abundance OF rich ore I
CLOVIS In his imagination. OF cou
. he has no confidence In his local N
- ager In the sinecure posisi
{ Agents for poor machinery assail
eastern manager with eIoquence I
! conceals their ignorance OF the
demands OF the mine and b
price is paid for the purchase
installation of reduction pl
that is imperfect In construction
arrangement and often wholly
suited to the special condition
{ the ore. In this incident we has
<Igross violation OF a business prime
: that should be recognized in the I
ing business above all others I
the proprietor OF mercantile es
l,.,a rnt ht.u for the ii