The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-07-31
THINKS" AND COMMENT

w Hilo l>cNdud ltelS Tie uepTeS-
sion in the money market, this state
has been less affected than almost
any other. Nevada has stood on its
own bottom for so many years that
the people of this commonwealth
have not as yet acquired the habit
of depending on Wall street or any
other money center to keep its
wheels oiled up and in running or
der. Nevada went through the great
panic of '93 without having a siugle
bank failure. While banks and
business houses generally were go
ing to the wall in nearly every sec
ton of the United States this state
weathered the financial storm and
it's citizens neither went without
good clothes, nor were they ever
hungry during the time that failures
were being reported at the rate of
from one to twenty-five a day in
nearly every state in the. union. 1t
may have been owing to the fact
that outside money" was not much
in evidence those days, and Nevada
people depended upon their own re-
sources for sustenance along all
lines, but the fact remains just the
same that not single failure was
charged up against our people. This
state was a little world by itself and
expected no favor from any quarter.
Nevada has been most cordially
despised by all of it's sister states,
and nothing was too mean for the
politicians, bankers, manufacturers
and others to say. Not kind word
was expected from any quarter, and
none came, except from dear Judge
Goodwin, then of the Salt Lake Trib-
une, who defended frequently I'M
warranted attack By the way, Judge
Goodwin has always been Nevada S
stanch friend and the people, one
and all, appreciate what he has done
for the state under any and all cir
cumstances.
The scene has somewhat shifted
now, however, and eastern capital is
getting strong foothold on Neva-
da holdings, and where there is in
vestments from great money cen
tiers there is always more or less
trouble in times of financial stress,
so Nevada may expect to be more or
less affected by financial disturb
ances from this time on.
We have our mines, we have our
large and profitable live stock in
terests, and we are coming into more
prominence every day as an agri-
cultural state, and as our mining
interests are now to a large degree
in the hands of men who gamble on
change we may expect to share in
whatever financial disturbances come
to the great money centers.
;etr tot inc al G.
ent time is very quiet so far as min
ing transactions go. This is ac-
counted for by the fact that many
are off on their summer vacations
and are paying but little attention to
deals of any kind. Mining men had
much rather sit on the bank of some
mountain stream and angle for trout
| than to drop their "hooks into the
waters of speculation. 1t will prob
ably be well into October before
there is much doing aside from car
rying ON the work already well UNI
| der way. The Nevada Northern peo-
pie are very busy with the construc-
ton of their High Line ore track III
Robinson canyon. The Nevada Con-
Cumberland Ely and Giroux people
are still uncovering more copper, tc
be ready for the big smelter as soor
as it shall have been completed. The
smaller mining companies are not
doing much besides assessment work
on their holdings. This inactivity
will probably continue to well into
| the fall.
Eighteen United States copper
companies gave their stockholders
during the first six months of this
year nearly $7,500,000 more in divi
dends than they did during the cor
responding period of last year. Take
the figures: Dividends paid by Is
companies during the first part Of
1900, $18,120,990; paid by the same
companies during the first half OF the
present year, $25,597,245. Another
fact equally interesting, is that these
same companies have paid over 50,
100000 in dividends since their in
corporation, on share capital OF
little less than $150,0O0.000. Two
for one; that's the way that copper
makes money-and millionaires.
The drop in the price of copper
and the continuing dizziness hal
created some uneasiness In Butte II
apprehension of the possibility tina
the price of the metal may fall bacl
to 1Sc per pound, at which price thu
Butte miners have contracted to re
turn to the old scale of wages, $780,