The Idaho Springs siftings-news., 1906-09-22
MINING NOTES.
Mining Man Hoban and family went
to the big city on the Platte via the
Tuesday afternoon flyer for couple Of
days rest and recreation.
The Reward for Russell.

Metal mining is not the precarious bus
the pioneer days. The early argonauts
knew but the most primitive methods in
the art Of extracting the gold and silver
from the rock and sands, and the sueIt-
ing industry was but in its infancy for a
long period. Today there can be no
comparison with the mining methods Of
four decades ago, for every detail of the
industry is being worked out, and inn
provements are still being made. Min
ing 10 upon commercial basis, and is
conducted the same as any manufacture
Eng plant. The production of the prec-
ious metals is as much a business as the
growing Of crops of cotton, corn or other
agricultural products. and when conduc-
many times more profitable than tilliug
the soil.
An impression prevails in many minds
that mining is a form of gambling, aud
that everything pertaining to the indus
try is speculation and uncertainty. But
this, however, is not any more applica
BILE to mining than any other business e. ..
terprise in the world. There is an ele
ment of risk in every business which can
not be altogether eliminated. On the
assumption that mining is gambling hes
the csuse of failure of many meritori-
Gus enterprise. Why. even gam
bier would not put a man to dealing taro
who did not understand the game. In
nary business judgment to the winds,
and place a man in charge of a mine who
is absolutely devoid of knowledge re-
gardng any part of the great industry
This is done repeatedly by men who, in
ordinary business Affairs are considered
shrewd fnanciers and conservative bust.
ness men.
To those engaged in Ordinary pursuits,
and who have never had an opportunity
to learn any of the details of the great
mining industry, an ordinary presents-
don of facts regarding . mine, is like SO
much Greek, and it is the object of this
article to explain the organization of the
company and the objects of the Russell
Mining and Tunnel company.
The Russell Mining and Tunnel com.
pany, which has just recently been in
corporated. has a capitalization of f5o,-
600, with shares of the par value Of 81
3 each, and may be considered . "close
corporation" to all intents and purposes,
n for the reason that its shares are not for
sale to al. or in unlipited quantity. In
\ the frst place, one-haN of the capital
u stock, or $75, 900 has been issued in pay
ment for the property, and the balance
N &75, 900 has been placed in the treasury
1 Of the company. The shares issued in
payment for the property are pooled, ("
that 10, they are transferred to q trustee,
and cannot be sold until the mines are
on q paying basis. OF the $4,000 shares
2of treasury stock, the board Of directors
will dispose of As many shares - may be
to accomplish the work for
~ Which there is every reasonable assur-
&ance will place the mines IN condition to
|&produce ore at profit. The profits will
sthen be divided pro ratio with the
\ @nhares of issued stock, the shares remain
MnR in the treasury not participating in
.Shpy dividends.
HI It will be seen at q glance that this is .
most equitable arrangement and an ex-
remely fair and just apportionment Of
he capitalization. BY comparison, the
knouat Of the capital is infnitesimal in
proport,on to the amount Of profits that
may accrue, a. hundreds Of mines in this
ssicinky have produced many tines over