The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1907-02-11


~ ONE THOUSAND AND NINETY.THREE
4 ING COMPANIES INCORPORATED IN KING
.ssry. WASHINGTON. BUT ONE OPERATING IN
a STATE HAS EVER PAID A DOLLAR IN pIvI-
|wns
S,v:asssn N Alaska and In British Columbia have
u, : are paying dividends.
=. remainder one thousand and seventy live. have
: ia enc cent to the multitude OF men and women
AVE been induced purchase stock therein. paying
y zrs 70 the ~promcters
r. total capitalization Of these King county compa-
.ssunss TO the enormous OF st,ses644.7oooot
Mat 10 per cen, OF this entire capitalization has been
.s<d there has been dumped into the golfers Of the
- urcnorrs the huge sum Of sl5c.Ss4,47o.ooi
m d that of money is thar staggers the
.rr<cn Of any enc but a Rockefeller.
rHrsg MILLIONS HAVE BEEN DIVERTED
|sou THE CHANNELS OF PRODUCTIVE INDUS
IN THEY ARE REPRESENTED IN MOST CASES
n aaANDoNED HOLES IN THE GROUND.
r. avsdsndpsying companies are capitalized Sra
..z xos Of the remainder Of the money invested in King
80 mining companies be figured As total loss
SAVINGS OF WORKING PEOPLE.
ph q this loss cane from the savings Of the ahorng
d Seattle and other Pacific coast cities and
x.rr haron dollars and their loss represents untold
npantrent and misery.
M an cid wosan and have not long live The iew
ubsd dollars have invested in this stock means the diff
knx b<tween want and comfort for my few remaining
- writes one cid lady to Seattle mining broker Il
"a zkx to get the money OF the stock. My lawyer
|Hn vas good investment when bought il. but do
hzeve he knew much about H."
II ssoek unstable and the old viii be beseit
7Sa bat one Of hundreds Of similar There Is
unprnx the misery which these wildcat mining opera
kve caused Figures are but eoloriess in dealing with
nnhy shsy reveal
LOSS AND HUMAN MISERY.
n III dis loss and huan misery the cold biooded wild
znng promoter Is directly responsible. Taking advan-
sulpshly lar mining laws and soo-eoufiding public.
= uken redhanded the money Of investors. through the
a Incorporated swindcs with the seal OF the state
xthnxon attached
~ wildcat mining business in this state has proved
~ rinde than the Louisiana lottery. In the lottery
y mere was az eas, some little chance win. In the
- mining stocks there has been practically no chance
hss fact the world over that the Of really good
- prospects seldom call upon the public for investment
krhpnens stock through aIluring prospectus prom
~ hgs immediate dividends THEY have difficulty
gg large investors develop their properties and the
k offered all the public. is listed for sale at big
sru auy after the mine is developed and proved to be
| n< vidcstter deals in prospects alone prospects
q usually realized AS rule his prospect
n sbsnd0asd mine bought for song from previous
us sho has satisfied himself Of its worthlessness.
SEEKING FOR VICTIMS.
upon such basis that the wiideaster issues his
st prospectus advcrtises in the newspapers. seek
4 = victims among the wage-earners who invest IN The
||aH'as hope Of rraping large returns
H ne wadesuer well knows the worthlessness OF his
sF<<ts Accordingly he wastes little money IN devei-
1ei work His hole in the ground is far away IN the
too FAR away for the small investor 20 investigate
n< bak Of the money paid in for stock goes in one way
n1Fasr into the pockets Of the wildcat promoter. When
4 H worked MS prospects" the limit he secures an
30 . seeks new fields Of operation.
insx facts OF constant regret TO legitimate
- men They more anxious than anyone else that
nsans be devised eliminate the frauds and fakes
ne mining business. Several Of them have aided The
gathering together the facts and material for this
~ IN this issue does permit detailed review OF
mning operations in Washington. Some phases OF Il
ae'aled in subsequent issues Of The Star. beginning
4 ~~~~~e~~<~e
tOoniinued ON Page Iwo1