Bisbee daily review., 1908-10-28
MINING IN OLD MEXICO GIVEN
 GREAT BOOM
Decision of Government Moi to Adopt Proposed New Mining Law Results in Big Plans for Activity.
Boston Financial News.)


 According to late despatches from the City of Mexico the mining industry in the republic has been given new lease of life and there is great re- joicing in mining circles over the de cision of the government to withdraw the famous Article IA from proposed new mining law which has been pend ing before the cabinet for some months. This means that in the fu- ture, as in the past, foreign com panies. those organized under laws of foreign countries, will be permitted to acquire and operate properties sub ect to the same laws under which they have flourished for many years and which has added untold wealth to the Mexican republic.
 While not generally known, a mum Der of prominent mining men who had gathered in the City of Mexico i'm mediafely upon receipt of the news began making arrangements to leave for their country, where they expect to be able to secure funds for improve ments and development work which had been held up since last June awaiting decision on the proposed changes.
 With these proposed changes def initely decided. the mining companies which have been holding up all work will now commence active operations and money will once more begin to flow into Mexico in a steady stream.
 On every hand can be heard expres- sions of satisfaction because the threatened danger has passed and the formation of new companies will now be proceeded with. Among the prominent mining men who were in Mexico at the time the decision to abandon the proposed amendments was reached was Frank Newhouse, vice-president of the Amer, ican Smelling & Refining Co, who with H. F. Guggenheim, the youngest son of Daniel Guggenheim has been in Mexico for some time looking over the situation.
 Mir Newhouse expressed satisfac- ton at the decision and gave it as his opinion that within the next six months silver will go to 60 cents. He stated that he based his statement upon recent authorizations Of the gov ernments of the United States, Eng land and Germany for large purchases of silver The United States in par ticular has authorized the purchase of heavy amounts of silver and the oPin ion of men well informed on the sub iect is that the greatly increased de mand will cause a marked increase in silver prices.
 As a whole a spirit Of optimism is manifest throughout the republic. Men who are connected with com panies of standing and financial strength freely predicted that the fav orable outcome of the much discussed changes will have a very beneficial effect on the mining industry there and that one of the immediate results will be the turning loose of none! which had been appropriated for de velopment work and Improvements but which mad been held up when tn changes in the mining law were pro posed the latter part of May.
 Deals of importance which wer, practically carried through at the tim of the introduction of the famou measure, but which failed because O the adverse sentiment the propose changes in the laws created in tn United States. will, as rule, be take up, according to those behind tn deals and the result will unquestiol ably be a great revival in the minin industry which has practically lai dormant during the discussion an consideration of the law during th past few months.
 The opinion expressed by Mir. NeT house as to a great advance in siivt values during the next few months corroborated by news received large institutions in the City of Me ico to the effect that a heavy d mand in the United States for silver assured and that a great strengthe in gof prices in that metal is expecte