Los Angeles herald., 1906-11-21

THE properties should be examined |
by two experts, one to be guaranteed |
by board of trade OF the district, IL !
there be one, and the other by our
secret engineer chosen from a member
of staff connected with u.s. they both
being conversant with the formations
of the district In which the property
lies, and upon the opinions of both be-
ing i'm unison the companies could regis
ter and acknowledge. This would place
all bona-fide companies In q position to
float stock all over the world. with our
guarantee, far below the cost of same
at present, which before q great while
would be recognized through the banks
and commercial agencies as any other
commercial body.
This would create an incentive for
people to invest in mining stocks know
ing 1t was bona fide, so far as we could
guarantee, with only the chance of
speculation upon development. In
reality this is the only way the large
investors, such as Schwab, Guggen
helm and the Clarks, are investing, not
going in blind as in the olden days.
And why should not the smaller in
vestor, who cannot afford to hire ex-
perts, be protected in the same way,
and why should not our organization
stand as their protector and be able to
answer them, costing the inquirer only
the stamp?
Disposition of Expenses
"The expense for theN experts investi-
cation and registration by the organ
ization to be paid by the applicant
and expenses of maintaining the or
ganization by dues from the member
ship. This is the psychological moment
for us in this industry, and we should
grasp the opportunity. 1t will be only
short time until the merchants and
manufacturers will be able to cope with
this large outside business, created by
the railroads tapping the number of
rich countries lying at our doors which
have been developed under adverse cir
cumstances. Our city will increase in
population by leaps and bounds at
tending the same, and 1 am in hopes
that we can influence our now busy
leaders in finance and business to turn
to this industry and lend their ex-
perience and support with no private
enterprises to foster and make this
relia BILE and beneficial institution.
There is no one man or body of men
who can grasp the situation entirely,
and no doubt this will be criticised, !
but that is what 1 expect this body of
men to do.
''I believe after consulting numbers
of experienced men, different boards of
trade in mining localities, that this is
a good foundation to start and build
upon, and in the near future we will
have an organization to be proud of.
Therefore, gentlemen, I leave it's future
in your good hands and shall be happy
to assist in any manner possible"
Mining Districts Tributary
Will A. Harris stated that the min
ing districts of Nevada, Arizona, New
Mexico and points in old Mexico are
naturally tributary to Los Angeles.
zone thousand miles of new railroad
are being constructed in Nevada at a
cost of $30,000000 to $40,0OOO00 for no
other purpose than to handle the rich
ores of the mines and also to transport
food and other supplies to the camps"
he said. able. conservative and rep
resentative business men are engaged.
in these huge enterprises. They are
not acting without full knowledge of
conditions existing. They are build
ing the roads for profit, for the trans
portation of the people and of the ores
of the mines to the nearest reduction
works. The business properly belongs
to Los Angeles and we should have
enterprise enough to grasp the sit
uation. We cannot get the business
without making an effort. This or
ganization can be made one of great
power, controlling the commerce of
geles what she ought to be, the great
est mining center in the world. One
man from the northern city spent two
days in Goldfield and as the result
of his operations he increased the
bank deposits of San Francisco one
million dollars. There should be con-
certed efforts on our part to get in
touch with the mines and mine own
ers
Stocks Bought Everywhere
"Stocks are being bought in London,
South Africa, New York, Philadelphia
and Pittsburg and big manufacturers
and merchants have invested heavily
in mining properties and are laying
plans for immediate developments.
Las Vegas is 100 miles nearer Los An
geles than Salt Lake and other camps
are nearer Los Angeles than San
Francisco.
"It is our own fault if we do not |
interest our own people in the rich
mines and the varied business oppor-
tunities. i am heartily in accord with
the movement and trust that the peo
pie of this community will take hold
as enthusiastically as they did in the
organization of our splendid chamber
of commerce"
Los Angeles Behind
Capt II. u. Osborne suggested that
a great lfdue is OpelllHB up LHdl
should come to Los Angeles. In Gold |
field many operatives have fought for
the possession of hoisting machinery,
paying fabulous sums for machinery
that is at times difficult to secure.
Goldfield is the greatest mining dis
trict in the world, except Cripple
Creek.
1--WE are not in it in business with
other towns" he said. Now the busi-
ness is done largely with Denver and
Salt Lake. 10000 tons of ore month |
goes east instead of coming here. Our
business men have not put in an APP |
pearance. The road from the north |
is coming down to Bullfrog and then I
we will be in direct communication
with Goldfield and Tonopah. Los An |
geles ought to furnish the miners with
all kinds of supplies"
Col. G. A. Doyle of San Francisco
said that Los Angeles now has a mag |
nificent opportunity to control the
business OF the mining section, to pro-
tect the honest and deserving miners |
and spectators and rid the country OF |
wildcat propositions, exposing the
charlatans and takers. The colonel |
gave his hearty Endorsement to the |