The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1906-12-07
Miners Association in
Favor Of Speculation
Ralston' VieWsAre
Applauded by
Members


Fulton Iron Works. was elected presi-
dent of the California Miners Associa-
ton yesterday. Charles H. Dunton wa.
reelected vice president. and John
Hendy of the Joshua Hendy Iror
Works was chosen for treasurer
There were no contests, all of the of.
fcers being selected unanimously. In
accepting the Office President Ralstor
said:
My appreciation of the honor you
have conferred on me is based on my
knowledge that it has come. as it has
always come to the president of this
association through the fact that ]
was your choice. Never in the history
of this association has any one tried
to do politics, as was stated by John
R. Tyrell of Nevada in placing me in
nomination.
THE questions that have arisen re-
garding mining and stock speculations
are subjects 1 wish to discuss briefly
with you. A difference of opinion ex-
lists regarding these questions, but !
ask what difference this makes so long
as we are all working toward one
end. What difference can there be be-
tween bringing money here through
stock speculation, which largely goes
toward the development of mines, and
direct subscription for their develop
ment?
MUST REAP BENEFIT
I'VE have here one of the richest
mining States in the Union, and as the
public is largely engaged in stock
speculation ] now see an opportunity
TO secure the support of Eastern capt.
tai for the development of our mines.
This is all we need. 1t is the fashion
to speculate in mines, and we must
take advantage of the time and reap
the benefit"
The reference by President RaIston
to the advantage that will follow the
present mining excitement and specu-
latlye fever was the outcome of a reso-
luton presented by E. ]. Ensign, in
which he sought to have the associa-
ton place on record it's views regarding
speculation. The proposed resolution
concluded as follows
Resolved by the California Miners
poses are to further the development
OF legitimate and actual mining instead
OF the promotion or ENCOURAGEMENT of
further
Resolved, That in seeking to main
tain integrity of its position as the
representative of mining as distin-
gulshed from speculation we intend no
and conservative investment in mining
shares; TO respectfully submit that not
outstanding the occasional fraud and
wildcat speculator, as whole mining
stocks and mining shares represent a
higher degree of legitimate investment
than the ordinary Wall street promo
ton and manipulated trust stocks.
FAVOR SPECULATION
Chairman John F. Davis of the COM
mittee on resolutions pointed out that
as his committee had already reported
and as the association had ruled that
all proposed resolutions should first
go to that committee, 1t was too late
for the consideration of the question
as presented by Mr.. Ensign. Judge
Davis was sustained in his position, but
the applause that greeted Ralston's re-
marks in favor of speculation indicat-
ed that at least majority favor It's
continuation as beneficial to the min
ing industry Of the State.
Resolutions were presented by the
committee and adopted by the conven-
ton, urgently requesting the California
Congressional delegation to make all
possible efforts to pass the bill providing
for the appropriation of $780, 900 for sur
veys of the gold bearing gravel lands in
this State and the overlooked lands
of the Sacramento basin, preliminary
to a plan to reclaim the overlooked
the detritus of hydraulic mines now
lying idle; also requesting the Legis-
lature to authorize the Governor to ap-
point a commission of three members
to obtain data as to the extent of the
gold bearing gravel lands and the ap-
proximate value of the gold they con-
tain; urging Congress to pass the bill
providing for the segregation of the
lands within the railroad land
a q fa inc he acf u
lishment of national department of
mines, the amendment OF the mineral
land patent laws for the better protec-
ton of the miners and the amendment
of provisions of the law relating to
miners and material mems liens so
the owner of mine may bond it and
still be able to protect himself and his
for the contracting of which
he is not personally responsible.
THANKS AND SYMPATHY
Another resolution expressed the
thanks of the association to Attorneys
quest or expectation of reward, are
carrying on the fight for the defense
in the case of the County of Suffer
against William Nichols, involving the
right to perform hydraulic work be-
hind restraining dams approved by the
Debris Commission; another expressed
the approval Of the association Of the
efforts of the Good Roads Convention,
and provided for the appointment of a
committee of five members to confer
with the California Promotion Commit
tee and the committee on roads of the
State Grange.
The sympathy Of the association for
Jacob H. Neff, first president of the
association. who is now seriously Ill.
was expressed by resolution, as 1t was
for the miners Of Clifton, Ariz, who
have suffered seriously from floods and
washouts. The thanks of the assoc
citation were extended to the San Fran
cisco press for its loyalty to the cause
of mining in California, also to the re-
firing president, A. A. Tregidgo. for his
LOYALTY to the association during the
most trying year of its existence, and
to Admiral Lyon and Captain Lucian
Young, and to the Solano County Min
ers' Association for their hospitable
reception of the State Association on
the occasion of its visit to the Mare