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

wish to refer to = mining district
which has been justly referred Is a
a Camp without q wildcat''-the
Occur d'Alene district Of Northern
Idaho. There are other great min
ing camps in the world and | am
well aware that this is only one:
but in showing this one is a marked
exception to the rule which the ed
itor of Golfers has laid down,
hope to show that this sweeping
statement could be more Justly com
pared with those Of the wildcat pro-
moter than the sale Of stocks in a
camp that is being legitimately de-
veloped.
First, a word about Zone in
thirty thousand" The editor
doubtless would not have made such
a statement had he given the mat
ter any thought. Thirty thousand
runs up into figures. This office
has been keeping record Of mining
companies for something over ten
years. 1t has on file at this time
six hundred and twenty mining
companies. There are in the Uni
ted States somewhere between a
thousand and fifteen hundred daily
newspapers. Imagine how their
pages would be filed with adver-
tisements Of mining stocks in order
to prove the EDITORS assertion that
only one in thirty thousand sue
ceeded. Further on in this article
| am going to speak OF a few min
ing companies which have sue
ceeded.
There are in the Coeun d'Alenes
at present something less than one
hundred mining companies. For
purposes Of calculation, multiply
this number by five or ten, care
not which. The percentage Of prop
critics actually making mines in the
Occur d'Alene district in either case
will be sufficient to make the edi-
tors statement ridiculous; but there
is another side to the purchase of
mining stocks. If the purchaser of
any article wants to be swindled or
does not use ordinary judgment he,
OF course, will not get the best. If
the purchaser Of mining stocks
would make even slight inquiry con-
corning what was known about the
property, in. the district where it
was said to be located, there is no
reason why his investments should
not be as profitable as any other
venture which he might make.
There were thirty-two Occur
d'Alene stocks listed on the local
exchange last June. Had an in
weston invested 500 in each one Of
the thirty-two stocks, his net prof
its in six months, above the amounts
invested, would have been IS, 954yl
81. In making this calculations.
figured that the investor purchased
during the first week Of June and
sold during the first week in De-
cember. This brought his time of
selling after the greatest slump of
the year, when many of the stocks
were selling at twenty to forty per
cent. less than the prices which had
ruled during the greater part Of the
season. His great profit was due,
not to a general boom, but to the
fact that out Of the thirty-two
stocks in which he had invested,
three had made actual producing
mines and three others had devel-
oped ore bodies Of such importance
as to be ranked among the sure
mines Of the near future.
Two years ago the preferred stock
Of the Federal Mining & Smelling
company, which owns six of the
big producing mines Of the Occur
d'Alene district, sold at $50 per
share, with a bonus Of half share
lENRmon stock thrown myth
d hare Of preferred. ThissN ind =
3 80 ly(k sis.nQw selling at besked y
/ vl51stkd $40 per share ~