The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-07-08

GREAT PROFITS OF
THE PRESENT YEAR
Mining Pays Handsomely, and
the Man With Ready
Money Knows 1t.

Wonder is often expressed by sue
cessful investors In railroad and like
gilt edged" securities at tho readiness
II tho general public to put their saw
lngs In mining shares. notwithstaDd-
ing the reputation which irresponsible
company promoters have given to mining
as a gamble, says the Mining World.
Certainly there IS more than the mere
declaration of enthusiastic brokers that
mining shares have In many instances,
greater value than some railroad and
industrial securities which inspires the
Investor In mining shares with the con
6dence that he VIII receive n higher In
tcTest on his money. What is hidden
behind the veil of speculation that sug
vests an equitable return Oh the large
capitalization nj some of the new gold
ond copper mining companies i'm Nevada,
California. Arizona. Montana. t-tsh and
other sections or the United States and
In Alaska?
careful estimate by reliable engi-
neers Of the ore reserves IN each Of
these mines and the economic recovery
OF the metals. create factors OF great
Importance in calculating the future
profits, But there is something else
tina, usually Influences the opinion Of
possible Investors In particular min
Ing stock. and this is the comparison
OF dividends that have been paid by other
properties. True. no two mines In the
same locality have ever shown the same
earning power; the reason Is that the
ore treatment nre different In each prop
erty And II is unfair to compare a
new. undeyeloped gold prospect with the
great Alaska Treadwell ard HomesJake
mine In the Black Hllls-two properties
that arc able To win substantial dlvi-
dends from very low grade ore after years
uf costly development and experiment.
Nor docs II seem just to enthuse pros
pectiNe Investor in a new copper stock
by Hgurlig on repetition OF the eN-
lraordinary career of he famous Calumet
& Hecla mine.
II is admissible, howcver-and we know
tilis by reason Of the fact that our con-
temporarIes. as well as stock brokers,
make frequent use OF The dividend Ia
bic tn inform The public how profitable
Is mining Such information. compiled
witls much trouble and expense, must
explain thc enthusiasm in mining shares
We're IT not that company promoters
are in possession OF such authoritative
statistical data we venture To say COM
paiatiVeiy few mines would he 0oa;ed
successfully Unfortunately, this prac
ticc is sometimes abused by irresponsi-
ble fiscal agents, with the result that
The Investors only legncy is a nicely en-
graved stock certificate.
Wlth proper care In selecting mining
stock-by Investigating the claims Of
thc promoter-it will bc learned whether
the stock Is n speculation or an In
Testment," Reputable brokers will tell
IN which class their stocks ere, so the
accordingly. For the first half Of the
current year the dividend payments re-
ported To tho Mining World by eighty
eight gold. silver, lead. copper, zinc and
Including Alaska territory, having an out
standing Capitalization of S33I,I55.I27,
amounted 10 the huge sum of $3S.55Q.Sl2,
making total since incorporation OF $50
E0o9I3. In addition to these dividends
there have been paid by six metallurgi-
cal works for The half year $40 290.Ss5.
making total or s5T 1921 .595 OIL their is
sued share capital of Sl6O. 7400 050. One
company, not included In the above which
derives its profits largely from the sale
Of metals, paid dividend this year of
si.$15, 0o0, or 25h per cent on It's So
100000 capitalization bringing the total
profits since Incorporation In January
l9co. Ia S4.S75ooo, or 80 per cent.
Adding together the dividends paid by
the uiEety-four mining and metallurgcal
sued capitalization Of si9S f95, ~ we have
= distribution of profits for The first half
this year Of sis S5l 697, making :he to-
tai since incorporate S498, ,227 .56S. Thus
IL will be seen that the dividends have
almost repaid the total Issued capitallza-
tioa. These dividends. by Tho way. do
not Include The declarations made by
sbarehol1inE concerns Ike the Amalga-
mated Copper company. the American
Smelters Securities company and the Cop
Esr Range Consolidated company; these
with two others have announced diyi-
Gends this year Of S9l94292 making a
total of S63, l06.9il sinee incorporation
on sn outstanding caplt alizatlon Of $3.50
g2G 900. Nor hav" estimates been made
ol the large profits earned by private
snd close corporations which have com
paratiycly few stockholders and do not
report dividends.
Can there be amy further doubt Of the
magnitude of the mining and kindred in
dustrles in which American and foreign
Investors share profitably?