The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1907-02-21

Of Spokane. WASH, which seemed to
US to cover the ground as fairly and
fully as anything we could say and
we accordingly decided to reproduce
it. It was as follows:
HAVE YOU BOUGHT MINING srocKs?"
Under cover of January 18th,
there appeared in Golfers Weekly
the following remarkable editorial
on mining stocks:
Have you bought mining stocks?
Sell them. Offer them back to the
man who sold them. Offer them
at the same price. Offer them at
10 per cent. less. Offer them at 20
per cent. less. This will accom-
plish your own establishment and
save you money, for you might
have bought more. It will also ef-
feet the exposure Of the person who
sold you the stock. Are you think
ing OF buying shares in the Poodle
Dog Inflated or /. Hoptoad Jump
Along? Don't; and this don't is.
without qualification Of any kind. :"
Then further along in the same
paragraph the editor refers to Dan,
lei Guggenheim as the greatest min
er in the world and represents the
Guggenheims backing out Of the
Nipissing incident at loss Of g.
10000. He further refers to Mr..
Guggenheim's statement lone in
three hundred is a conservative es-
innate Of the proportion Of pros
poets that eventually fulfill their
promise, = and adds this comment:
If he had included the mines
whose shares are advertised at five
and ten cents in the Sunday papers
he would have said one in thirty
thousand"
One would expect the editor Of
paper OF the standing of Golfers,
and which takes unto itself the SUBJ
title Of The National Weekly" to
be at least a little more conserva-
tive and not to make statements
which for exaggeration almost equal
those OF the widest promoter.
Surely the editor was carried away
by his zeal to defend the foolish
purchaser, or at least has never in
any way investigated mining or
mining stocks. Let us take up his
article in detail:
Have you bought mining
stocks?" Why did you buy them?
In this l refer to the five, ten, fif-
teen and twenty cent stocks that
are bought by spectators. If you
bought them with any idea that
you were buying an interest in
real producing mine, or if you al
lowed yourself to be deluded into
such a belief, you have no more
claim to pity than has the "Rube"
who is deluded into believing that
he can buy a gold brick for one
tenth its value. Speculative min
ing stocks such as you are buying
obtain their value directly from the
prospect Of, under proper develop
ment, making real mines some time
in the future. If the property in
which you have bought stock is the
actual possessor of mineral claim
or claims SO located as to have a
fair chance Of some day becoming a
mine, and if a fair portion of the
proceeds from the sale Of treasury
stock is honestly and legitimately
expended in an attempt to make a
mine out Of the prospect, you are
getting all that you have a right to
expect. If the property never makes
q mine you have been in no way
wronged.
Sell them. Offer them back to
the man who sold them. Offer them
back at the same price. Offer them
Ut ten per cent. less; Otter them
At twenty per cent. :
writer Of those lin
back 10 tha Il ls, Ai..:s who 81 tliss;;;
probably imagined that lfe ha3
struck body blow, but he ha.
really shown that he had no con
ception Of his subject. The pros
pector who discovers fair prospect
has all prospect and no capital Will