Elk City mining news. (Elk City, Idaho) 1903-1913, 1905-08-12

Enterprise Utah There lS Ill uepOSlCllS IL
4 a savings bank. The gold in the ores
l. as much of a guarantee for the stock
is the gold reserve in the national
treasury a guarantee for the redemption
Of the United States currency which
represents your savings.
WHAT THE CENSUS SHOWS.
All of us believe the United States
census reports. We all know how
minute and exhaustive are the inquiries
made. An analysis on the returns from
different lines of industry in 1900 shows
more clearly than anything else how are
the rewards of mining.
There were 1926, ZIG, 900 persons en-
gagged in agriculture, and the amount
produced per capita was 1927. 521, 806
persons were engaged in forest indus
5ries, and the net value returned per
man was $425. 4,476, 1884 persons were
engaged in manufacturing, with a net
per capita production of $764. IA, 439
men were employed in the mining and
eduction of gold, silver, copper, lead
md zinc, with an output for each man
of $1910.
From this statement it will be seen
that the men of the mines made re-
turn of six and one-half times as much
s those of the farm, four and one-half
ines as much as the man of the forest,
nd two and one-half times as much as
he men of the factories.
AS TO THE PRICE OF STOCK.
The abiding value of any mining Sc
,urity rests upon the ore reserves which
he stock represents. Most of the quick
ortunes made in mining comes from
Investment in gold mines that are de-
yeloping, and frequently vast fortunes
IRE made before ever the mines had
paid out dollar in dividends.
The regulation of the price of stock is
determined along the following lines:
First, there must be good prospect.
By the prospect is meant a showing of
ore on the surface, or in a shaft, or by
preliminary tunnel, sufficient to justify
the expenditure of money in determin-
ing the value and extent of the ore
bodies. When the company is first
formed, shares are sold at what appears
to be a very low price in order to pros
ecute that work, and the stock natur-
ally advances as development work
proves that the mine contains richness.
From that time on it becomes a simple
business proposition of actual assets
against investment. Frequently the
ores uncovered represent scores of times
The capitalization, and in some instances
more than one hundred times the cap
italization has been blocked out in ores
ready to be taken out and turned into
bullion. In such instances the shares
amount to many times par in the open
market, as was the case in the famous
lispah, Tonopah, with which the Phil
adelphians are so familiar and to whom
most of the profits of that magnificent
security have gone.
Some sales of stock in that mine were
made at fifteen times par before div
idend was paid. That company is in a
position now to earn dividends of not
less than 100 per cent. year for the
next one hundred years, and the last
year it earned $3.50, 900. With sucf
profits, who can argue that mining
shares of that character are not safer
than government bonds; safer thar
money in saving banks and scores Of
times as remunerative?
THE VALUES ARE REAL.
The values are real because they are
based on the values in the ore. The
ores are blocked out-that is, opened
up on three sides so that the extent O.
paying rock is known as definitely al
the number Of yards in bolt of cloth
Every fifteen cubic feet of ore weighs
ore ton, and the assay value shows jus
what the ton is worth. Deducting from
that the actual cost of mining and re
duction, you have the net profit tina
each ton of ore will pay to the owners
The golden produce is worth $2067 al
ounce. and the price never varies. TIL
values in the mine is as great as i
every ounce of ore had been crushe'
and the bullion turned into the mints.
Ore OH the dumps-that is, ore tina
has been mined and stored on the sur
face, awaiting treatment is exactly tn
same as ores blocked out, except, tina
it is one step nearer being turned int
bullion, and has the same value rela
lively as the millions now representa-
IN +la o,.o -aca,.xyoc Of tba Mi1poh