The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1908-06-25
THE FOOL AND HIS MONEY.

THE FOOL AND HIS MONEY.
New York financial papers predict
a further advance in the price Of lead,
due to the depletion of reserve stocks.
Students of mineral statistics every
where agree that conditions warrant
higher prices for lead and copper. As
to the point that may be reached by
lead there is naturally considerable
variance of opinion, although the low
est estimates are IS per cwt. The
more optimistic think that last years
high prices may be even overstepped
before many months. One thing is
certain, however, that the dullness
/. in mining through this district dur
ing December, 1907, and the early
months of the present year are not
likely to be repeated for long time
to come. Day by day sees renewed
energy and activity in mining and the
: prosperity which The Miner has con-
stantly predicted is here at last and
here to stay. Some business men
complain that there are many dull
days, but on the whole, business is
good and constantly improving. 1t
is true, however, that there is no &C
tiyity in mining stocks. The truth is
that people bought all kinds of stocks
last year with too great avidity and
too little regard for individual merit.
Many of those who bought shares at
high prices have allowed their hold
ings to be sold out at auction on
trifling assessment, and will only
awake to the merits of mining invest
ment when another boom comes.
The public generally seems to be
devoid of sense when it comes to this
industry. The general attitude is that
it is a pure gamble and the chances
of miss or win are not amenable to
Judgment, good or bad. Had such a
strike of ore been made last year as
the Nipsic has just found, stock in
that company would have been sell
ing for 81 and So share, now 1t Is
being sparingly bought around 10
cents. If anyone of a dozen rich ore
discoveries had been made during the
boom prices of 1907, people would
simply have gone crazy; yet these
stocks which they bought year ago
at prices ranging from Is to SO cents
and now are losing through delin-
quency in paying assessments, are
worth more intrinsically today than
they were when purchased. because
more development has been done and
the reward is nearer.
The condemnation of mining in
vestment comes from these people
who simply gamble. They buy in
the hope of a quick and sharp ad-
vance without knowledge of the prop
erty, the location or the management.
If the advance fails to materialize
they throw up their hands, forget
there is any substantial property
owned by the company, forfeit their
holdings through carelessness and
then denounce fully and freely when
ever and wherever opportunity offers
or can be made, every mining ven-
ture and every person who is endeav-
oring to interest capital in mining
enterprise. Legitimate investment in
honestly managed mining properties
offers greater inducements today
than ever before. Greater fortunes
will be made in the Occur d'Alenes In
the next few years than have ever
before been made. No better opor-
tunity will ever be offered than now
for bargains in mining investment
and those alert enough to take ad-
vantage of them will be known as
successful in tho next few years.
BANKING CHANGES EFFECTED.
Two banking changes have been
effected during the past week, one IN