The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1906-07-19
Valuation Of hiains Properties,

The prospector Injuries his business
by general system OF exaggeration
OF values. II there could be u truth.
ful presentation Of the conditions OF
all mining properties by the pros
pector to the investor great good
would immediately result There Is
a correct basis for the valuation OF
prospects, and there Is not pros.
pector in the country who does not
know how TO sample an outcrop or
partially developed mine. There Is
no excuse for ignorance Of the con-
tents OF an ore-body in the country.
II the Investor could go to some pros
pectors headquarters and learn the
positive merits OF properties in the
country great step forward would
be made in the progress OF the eoun.
try.
There Is common saying that
the prospectors, as a class AS the best
aud most honest people In the world,
but you cannot believe them under
oath, when they make statements
about the value OF their ore-bodies.
This business condition Is the great
est OF all obstacles TO the progress OF
the mining business, In the country
ut large. Ii the buyer and the seller
could come together on business
basis, with mutual guarantees, every
prospect OF merit In the country
would be sold without delay.
The prospector seems to think he
n. ust tell stories about his property
OF fabulous wealth To excite the In
weston 10 the point OF action. The
fact Is such exaggeration causes a dis.
appointment when the true condition
Is discovered, and that disappoint-
ment Is the cause OF many faiilr res.
This same system OF exaEReration In
spires contention between the buyer
aud the sellers The prospector tries
to maintain false value and the
buyer feels that he is called upon In
self-defense to strive for the mini
mum value Of the ore-body. After
the investor has found a value fifty
per cent lower than that claimed by
the prospector an inherent principle
OF human nature drives him TO reject
the propositio ion. even though II would
have been acceptable II 1t had been
presented on It's merits at the begin
ming. The prevalence OF this strife
between buyers and sellers OF mining
properties, especially In the prospect
stage, retards tie development OF all
new districts. This condition does
not prevail In operating camps, The
real buyers come from established
camps with accurate knowledge of
the approved methods Of uetefmin-
ing the true value OF ore-bodies. To
such practical men misrepresenta.
tion Is interpreted as direct attempt
to defraud them. The influence OF
such methods should be fully appreci.
ated by the prospector.
Theie Is no excuse for the pros
pector or mine owner To remain ig-
norant Of the true value OF his out
crop, tunnel face or shaft exposure.
The Recorder offers 10 determine
these facts free OF charge, Just 10
save the district from this bal inilu.
ence. There are investors ready u
take up every prospect or mine In
the district on its true merits, " II
has any merits. 1t is an established
rule that II Is better to present. q
traction OF the real values than Il
put the investor In "A position TO dis
cover misrepi esentation. Many
miring propositions are turned down
on account Of disappointment that
would have sold on their merits II
the truth had been known at the
| eginning Of negotiations. There
is business fact that can be more nc.
curateiy determined than the value
OF an oie exposure. There Is no
more potent influence to promote
distrust In business relations than
the discovery OF misrepresentation,
aud 5istrust Is ruin.