The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-02
MINES AS INVESTMENTS.

At a time when speculation in rail-
road and Industrial securities is I'M
certain on a falling market, the
strength of the bona fide mining stocks
ana the ease with which large amounts
OF capital are secured from fasteners
for legitimate mining operations are
cause for qualification in the west Not
only nave the substantial stocks held
their own, but coppers have shown
notable advance wherever develop
meAts have justified confidence in the
merits of a property.
Utah has been particularly favored
with the approval of investors, and Ne
vada has been almost equally FORUM
ate. All of the big Bingham copper
properties are regarded highly in the
Boston and New York markets; Park
City has had demonstration of this
confidence in the undertaking for a
merger of the Ontario, DAILY and DAILY
West, an enterprise which required big
capital ana Was carried through with
little difficulty on the financial side
The newer mines that have proved
their merit have all found ready takers
for stock offerings at good prices, and
the situation generally is more eneour-
aging than it has ever been.
Probably the most potent factor in
this desirable condition of affairs has
been the high standing of Utah securi-
ties established by the men who have
had most 10 do with fIotations here.
The wildcat" has found this an I'M
healthy habitat, and the shark promoter
finds the altitude and general surround
ings very unfavorable to his calling
All of the big undertakings which have
been financed in the east for operations
in Utah have made good" in a remark
ably satisfactory way, and the effect
has been TO establish that sort of con-
fdence on the part of investors which
is the only solid foundation for any in
dustry.
II the financial centers of the east
could realize how much actual money
has been made on investments in Utah
mines there would be wild scramble
Tor its mining securities; and indica-
lions are not wanting that some dim
giimmering of the truth is beginning
10 reach the conservatives of Boston
ana New York. The bare fact that the
New York stock exchange is preparing
to list approved stocks of the highest
class marks a revolution in sentiment
there. in spite of the concerted at
taeks of the New York press on west
ern mines generally, the stock exchange
has walked up TO the fact that the
transactions on the curb are taking
away from its members a very profit
able and substantial linz of business
Trust companies which used to disdain
the thought of loans on mining stocks
are beginning to revise their rules and
accept good '.eoppers" as collateral on
a fair percentage basis. Boston banks
are more liberal than they used to be.
and one big bank has been established
IN New York with the assurance of
tremendous mining business as the
basis of its prosperity.
x=%
Gradually, but surely. the financiers
are being convinced that legitimate
mining is as solid as any other bust
ness. ard that loans and investments
in mines can be safeguarded quite as
safely as investments in industrials if
the same care is taken in the verifica-
ton OF the conditions attending the
investment.
This change is going te work for good
in several ways. 1t Is going to give the
west more money for legitimate min
ing operations; it is going to make the
east more cautious about its investiga-
ton OF mines for banking and invest
meat purposes. and it is going to IA
miliarize the country at large more
thoroughly, with the enormous wealth
to be acquired in this business-aH Of
which bodies well for the future of the
1resr aud lis tferelopment