The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-30

| IL we COulG, Dy the expense or a quar-
ter of a million dollars out of our ownl
| pocket, make a mine out Of a prospect
| that was sold TO our client on a basis
| of good deal less than quarter of q.
million dollars for the whole property,
| IL would nay us to do this. For every
dollar they make they and their friends
would invest ten more with us, and the
use of this money in our mining enter
prises would increase our power tenfOid.
Encouragement for Clients.
! 1t would cost US over $3.50. 900 in prints
ers' ink to gather around US the SAME
sized army Of followers that the making
/ of mine would create FOR US. and id
would really be cheaper for US to spend
cur own money, and not the stockhold-
cis' money, TO make mine. if such a.
I thing We're permissible. We have every
reason in the world TO keep stockholders
posted on every development on the
property that is favorable
| We know of no better kind of advertise
ing. Now, if we were in the one-mina
business and had one promotion and
then stopped. and We got our peopis
into prospect at a prospect price, and
the property turned out to be a great,
F! big gold mine worth millions of dollars.
a is7an might -tanDted to withhold
/ the news. and i1stead give Ouu-;,sa:d news
and buy In The stock chPef5
| 1t appears thus far that the investors
greatest protection is that he have an
assurance that the promoter behind the
/ proposition is going to promote other
mining companies and is not 4 one-mina
man. The protection lies in the fact
/ that the promoters are professionals
/ The ordinary investor has greater pro-
/ lection III buying into the mining stock
OF professional promoter, of whose in
tegrlty he has assurance. than he is Of
! buying into a mining company that Is
| promoted by any man, however reput-
able, who does not guarantee that hs
will promote more than one company.
How He Got Started.
| 1 was first attracted to this mining
/ business by getting a good strong hand
tshake from a millionaire in Portland.
| who asked me TO subscribe for 10000
shares in the Lucky Boy mine l hand
ed him check for $4,000 The man
who invited me to subscribe was a
millionaire, not a mining promoter. and
| he would have been insulted had any
one alluded to him as such, but he took
| the money.
He never listed the stock. He went
on and tried to make mine of it,
suppose, but we stockholders never got
any information. We never found a
market for the stock, and l don't be-.
iieve that we ever would have found
market if the property had madel
good
Some fine evening some emissary of
the millionaire would have called at
my residence and would have wheedIedl
me out of my stock. had the property
turned into a bonanza. That set mel
/ to thinking, and it is one OF the rea-
sons why the Sullivan Trust company
is now in existence. A promotion CON-
Germ that IS before the public every
day with its advertisements proclaimed
ing its promotions and continual1T
called upon to discuss its past promo-
tions. is the nearest thing to an abso-
/ lutte guarantee in itself of integrity and
| honesty of intent and stability that I
| know of.
! How many people in salt Lake have
been handed a package" by social
| leaders and people whom they believed
| 10 be their best friends. A man who
puts his name behind one stock COM
pany can afford to have it fall down.
| because the stock promotion business.
| forsoOth. is not his line, and it is only
a speculation, don't YOU know" and
we may either win or lose. don't you
know" but from the professional pro-
moter's standpoint 1t is case OF. get
| ting down to cases and making good
or being publicly branded a failure and
losing the confidence of investors.
I
Whenever an investor can satisfy
himself that the stock will be pOsitive-
ly listed on a reputable mining ex-
change, he can assure himself as al
! ready pointed out of a market for a.
stock and will always know whether
he was cheated or not and whenever
ne buys stock from a professional pro-
/ mOter he VIII always know, as already
pointed out, that it is to the promoters
tI,r
make a winner of it in the quickest
possible order.
| However, where a man will invest in
mining stocks without being given a
guarantee that the stock will be listed
and that it is being promoted by a
/ professional promoter, the least he can
satisfy himself about is that sufficient
money will be realized from the sale Of
treasury stock to guarantee develop
ment work on the property for at least
two years; that the promoter will prac-
tically guarantee 10 place this money
in the treasury and take the stock him.
| self if unable TO sell it.
Otherwise, the purchaser may be one
of d few VINO buy the few thousand
shares which is found insufficient and
his money is as good as lost. The pro-
/ moter nowadays, when he falls down
on the sale of treasury stock, does not
make the confiding purchasers of the
! first $4,000 or 100000 shares suffer by
the stopping of work on the property
after the money supply from the sale
of stock TO them has been exhausted.
He supplies it himself. And there again
/ is found the advantage of dealing with
stable, reputable concerns, who are pro.
, fessional promoters and realize their
duty to the man who buys treasury
stock in new companies.
The integrity of the directorate and
the ability of the mining engineers en-
ployed and the character OF the prop
erty all enter. but Investigation into
| these particulars will be rarely neces-
sary where the pains are taken to de-
tcr1nine the important points pointed
Aollt in the beginning.