The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-08-10
MONEY WASTED BY
BAD MANAGEMENT


II is often dinicult to impress upon
the minds Of mining operators the fact
that good management Is just as i'm
portant in mining operations as Is the
prospect. And yet this is the gospel
truth. and recognized as such by all
experienced and successful mining men,
1t has often been asserted that 1t Is
a poor mine. indeed. that will not stand
bad management. This may be true
and yet no valid excuse exists for the
poor management OF any mine, how
ever good 1t may be, and 1t is also true
that many really valuable properties
nave been closed down n condemned
as worthless and ~valueless because of
incompetency inc bad judgment on
the part Of the management. Many cases
of this character can be cited in this
intermountain region, and an Instance
of extravaganza and stupendous ignor-
ance on the part Of a mine superintend-
emit has lately come to our notice which
fully illustrates what some mining COM
panies have to go up against in their
efforts to develop a producing and pay
ing mine.
In this instance the property In ques-
ton was owned by an English syndicate.
the destinies Of which were presided
over by a man whose knowledge of min
ing was on a par with his apparent lack
of honesty. When short Of funds this
superintendent would cable the company
that some rhyolite was showing in the
vein, which had an east and west trend
| and a dip to the south" The company
would then levy another assessment,
and this continued until the company
had expended nearly half a million In
mine development and equipment. Then
the stockholders began to roar, and the
president of the company was sent over
to dismantle the mine equipment and to
close the property down. Curious 10
see how such a large sum OF money
had been expended he decided to inspect
the mine workings. To assist him he
took with him a quick-witted Irishman
who was a mining man of long expert
ence. Pat looked at the mineral show
ing In the mine, and so did the presi-
dent. Pat finally said: "Begorra, it looks
good to me- and he sunk his pick deer
into a fine carbonate lead ore. Con-
tinuing, Pat said: LAYING out the dips,
spurs and angles. the east and west vein
and the rhyolite that comes deeper. the
mine ought to be good for $1,000 divi-
dends monthly"
On arriving at the surface the presi-
lent dismissed the a~uctioneer, for the
mine was to nave been sold at auction
an ~up-to-date man was placed In
charge of the property. and ever since
the mine has been on a regular produc-
;po ord noyin0 basis. Tins nrOyinR
conclusively, that the failure to make
good in the early history of the property
was not because it was valueless, blu
because the mine manager really knew
nothing of mining operations, and that
he actually did not know ore when he
saw it.
If the truth were known, there is
every reason to believed that many
valuable properties are cursed by. bad
management, while many companies and
investors are ruined from the same
cause. The resurrection Of many aban-
doned mines in the west, and the plac.
ing of them in the dividend-paying col.
umn. is proof of this. Some mine super
in~tendents would be much better EN-.
ployed in pushing a mine car and In
landscape gardening than in the man
agement of a mine, and the sooner the
companies employing them make this
vital discovery, the better 1t would bt
for all concerned. If this question were
to be considered and looked Into more
closely, it. is safe to say that many
mine superintendent would be giver
their time and competent and expert
enced men installed in their places
Salt Lake Mining Review.