The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1905-02-15


Mines are developed, are made, not
found. For the benefit Of those who
choose TO have little regard for our
own prospects, in Logan and Black
smith Fork canyons and elsewhere
near, we offer the following from the
Salt Lake Mining Review, one OF the
most reliable mining journals publish
ed. 1t says:
In reviewing the different phases Of
the mining industry Of the west, and
Of the conditions that govern mining
operations, one fact is clearly evident,
and this Is that mining investors and
those looking for producing and pay
ing mines, are apt 10 ignore or belittle
one branch Of this fascinating pursuit,
and this branch pertains to the pros
pect and its development. 1t is often
that the owner of prospect or a
group of undeveloped, but really meri-
torlous claims, in order to determine
their true value, as recourse to a
common practice in order to raise the
means for their exploration. and this
consists in the formation OF stock
company, certain portion of the
stock of which is retained by the in
corporation, the balance, usually a
third or more Of the capitalization,
being set aside for treasury purposes,
. an ,phtph n 20 IN no mead
in mine equipment and mine devlop
ment.
The custom is so universal in this
intermountain region that there is not
district, even though remote and
but little known, but that has several
propositions Of this character within
its environments. Utah and adjoin-
ing states have such corporations by
the score, yes by the hundreds, and 1t
thus acquired that every now and
then a new producer and new div
idend-payer is added TO the already
long list of western bonanza PROPOSE
tions; and yet there are those who
affect to despise new mining company
which is Engaged in the development
of prospect, forgetting the fact that
every wealthy-producer in this west
ern country was at one time nothing
but a prospect; and that some of these
prospects at one time were reputed as
little more than wild CATS" and yet
these often develop into the biggest
mines and the greatest dividend-payers
that this country can boast of. We
personally know of many producing
mines in the camps of Utah which,
several years ago, were nothing but
prospects. The owners, financially,
were unable to develop them as they
should be, and, but for the fact that
they made their respective properties
the basisof incorporated companies and
thus raised the means for their ex-
ploitation, these paying mines of today
would be nothing but prospects still,
Of no good to their owners, unproduc-
tive, and of no more intrinsic value
than so much acreage of barren
ground.
The Mining Review dislikes very
much to hear any one make sneering
concerning prospect, or Of
those honestly engaged in the develop
mcnt Of prospect. We have known
men, personally, who have worked
hard in the development of a prospect.
We have seen them in rags, almost
shoeleSS, and living almost like slaves
in the endeavOr TO transform the pros
pect into a producing and paying
mine. Today these men are million
aires. They own some OF the best
business houses on Main street, and
they have built some of the many
palatial residences which adorn the
fashionable portions of Zion; and yet
no one now despises them because of
the fact that at one time they were
engaged in the development Of a
prospect, or because, before their
efforts were crowned with success,
they assisted in the formation of com
panies for the express purpose of
raising means for the development OF
a prospect.
IT is not wise, in this day and genera.
tion, TO PREJUDICE any enterprise of
mining nature. The prospect of to-
day may be mine of marvellous
wealth and OF wonderful possibilities
tomorrow. Today the prospect is
viewed with indifference. Tomorrow
people may be tumbling over each
other to buy stock in it. A strike
has been made. The property springs
into prominence. The poor, little
and despised company is in the
swim and every individual member
is lionized, is big man, The tim'l
the skeptical and the scotIer CuNes
him his good luck. All are ANXIOUS to
get in the proposition when it is
miDp and itS fntnr, 10 a.. g,,y.l 49,. 1870.