Elk City mining news. (Elk City, Idaho) 1903-1913, 1905-08-12
BUSINESS METHODS MAKE
SUCCESSFUL MINING
More than Fifty Percent of Such En-
terprizes Succeed.

The general public is coming to real
ize the great opportunities for success
full investment in mining enterprises
saws the Philadelphia Press. The grea'
strides made by the mining industry Il
the last decade have given golden proofs
of the money to be made In mining.
Last year the gold and silver mines of the
world distributed close to $500, 100000
in wages and dividends. These golden
securities are proofs that mining pays.
Especially is this true of gold mining,
and in no place is mining more apprecl
ated than in the financial districts O.
New York, as the following editoria
from the Wall Street Journal attests;
''The greater part of the large for
tunes in this country were started from
investment in gold and silver mines.
From the time of discovery to 1903, the
United States has produced 81, 800, OOO,
900 in gold; Mexico at least Sl8l, 0O0, OOO
and probably twice as much, and Brit
ish North America $142, 900, 600. The
dividends paid by gold and silver mines
are greater than the dividends pald by
all the banks in this country
CONDUCTED BY BUSINESS METHODS.
Mining for precious metals today is
the same as any other business, and
must be conducted along business meth
DDS. In order to make a successful
mining company the board of directors
must be good business men, who have
made successful records as such. The
men who are to determine the character
and the formation, the dips and the
trends of the veins, and the process of
reduction can readily be hired to dc
that work, but it is harder to find The
successful business man.
Where such boards exist they apply
the same business ideas and give the
same application of business principles
that would make success In any othel
undertaking. Under such circumstan-
ces, with good and thoroughly proved
properties of large extent, with gooc
transportation facilities, and a reason
able cost of labor, there is no question
about success. Two mercantile agencies
known the world over, have declared IL
authorized reports that more than 81
per cent. of mining enterprises succeed,
and only per cent. of companies en-
gagged in general business prove sue
cessful
OPPORTUNITIES FOR PROFIT.
In mining for precious metals the OPP
portunity foe profits is greater than in
any other line of human effort. The
reader can reason it out for himself.
Take any line of business and you will
find that the law of supply and demand,
together with the millstones of compe-
tition, grind profits to meager figure.
No enterprise depending for it's support
on the products grown in the GROUND
can possibly make more than Is pei
cent. by the very best of management
In that line individual effort seems t.
reap a large reward as efforts directed
by corporate interests.
In this world of manufs ctured pro
ducts to 10 per cent. profit spell:
the limit of prosperity. 1t is true tina
in the manufacture of specialties very
large profits are made at times, but i'm
itation and competition soon bring the
selling price down to the level of al
manufactured products. With gold anC
silver mining the opportunities are lin
itless. Oftentimes the work of a day
exposes ore that send mining securities
up to prices unheard of in any othe
kind of stock. There is no limit to tn,
amount of dividends a successful min,
may pay, and there is no form of in
vestment that offers such rapid en-
hancement Of value.
Where the product is gold, there is nj
competition and there is no variation il
the price below $2O.67 an ounce. Tha
value is fixed by all nations, and it i
worth sos an ounce at any time il
any portion of the globe. The onl,
variation is above that figure, when tn
price of exchange regulates the prem
ium on gold in the various money marts
The first requisite of mine is to hav
the ore opened sufficiently to prove tina
will be the extent of the production 70
five, ten, twenty or more years. Wher
these ore reserves guarantee your in
yestment and your dividends, there