The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-11-24
PECKSNIFFS In
THE STREET

|
Editorial y. Y. Commercial. Nov. 100
In the financial district" just now is
being presented a spectacle that would
be dramatically comical, IL il were not
in n way pitiful-that of newspapers
holding up their editorial hands in holy
horror and protest over the mining
craze. so called. but printing mining
ads on their advertising pages. while
their solicitors are fairly on their knees
in scores OF offices throughout The
street begging for the merest crumbs
OF their business without any inquiry or
thought as to the character and stani-
ms Of the advertiser or caring a whit
whether the in the adv~r-
tisements are true or false. 1t is the
spectacle of journalistic Hypocrisy and
journalistic Sour Grapes stalking
through The Street at MONDAY with
eyes turned piously heavenward and
with one hand raised in philanthropic
and altruistic protest against wildcat
mining enterprises. while with the other
II gathers in every last dime that it
can coax out of the wildcats" Golfers.
1t is true that there are highly specu-
.~lative. highly uncertain and. in some in
stances. doubtless. fraudulent mining
propositions being exploited in print
these days. 1t is equally true that there
are many of them just as legitimate,
just as safe. just as certain as the gem
eral run of industrial transportation
and commercial enterprises that put out
stocks for the public to buy. n the
fact should not be lost sight of. either.
that few comparatively of these mining
w-Afame lwGwFfa 200,
Uses: for the most part, they merely
state known facts and then unfold the
probabilities n the possibilities to fol-
low-in other words, they say to the
public: Here is an opportunity to take
a chance with us and to get it cheap
Now, it is the veriest folly for a pub
fisher or anybody else to essay to pose
as n warning Conservative in the front
yard while playing with the Wildcats
in the back lot. Nobody is deceived by
this duplicity. Least of all are con-
sentative bankers and brokers and ex-
perienced exchange houses of respecta-
biiity and standing to be caught with
such bait. 1t is they who are largely
responsible for the present popular in
tetest in mining. They are in it be-
cause they see solidity, stability,
~permanency and profits in it and be-
cause their customers and clients are
SO very generally seeking safe mining
investments today. They recognize the
change and changing conditions in the
industry, and for them to set their faces
sternly against development, progress,
Improvement in il would be as unbusi-
nesslike as it would be to put out warn
ing signals against railroad stocks or
national bank shares or to weary the
public with exhortations to caution.
When or where was there ever a
legitimate industry or business or pro-
fession who's very legitimacy and at
Effectiveness did not draw rascals to en-
gage in it? There are shysters in the
law just as there are glaciers in the
| diamond trade. But the investing pub
lie is not so unsophisticated, so gullible
and so easy as it once was. Few in
| vestors will be caught by fake mining
propositions" Hosts of them. how
ever, are going TO be enriched by en-
gaging early in solid mining enterprises,
for the industry has already demon
strated it's permanent value.
A business that constitutes such an
enormous percentage of the ~transae-
tions of the London exchanges-some-
times t~hree-quarters Of them are in min
ing shares, il is said-eannot be
sneered down by a handful of Peck
shifts in New York.