Bisbee daily review., 1908-02-27
ORGANIZES
ARIZONA MINES

DOUGLAS, Feb. 26.-(Special)-
The growing Importance OF Arizona
as great mining center is recognized
by the American Mining congress, the
national organization of mine owners
and operators. II. l.. Thompson. the
representative Of this body, is now In
Douglas for the purpose of ascertain
ing whether Arizona desires to take
her rightful place in the mining col
umn of the states and stands ready to
good by furnishing at least fifty of
her mining men to form a territorial
organization whose members will be
direct members of the congress with
Arizona headquarters anywhere with
in the territorial limits that the mem
bers may designate, Nor whether local
mining men prefer to pass the propo-
sition up In talking the matter over
yesterday Mr.. Thompson said:
Last fall at our session in Joplin.
Mo-, which, by the way, was a grand
success in spite of the financial nur-
~, many things of general interest
| were discussed, among other things,
the subject of wild eating A strin-
gent resolution was passed providing
for the prosecution of those who prac-
tice it, The congress believes that if
| this evil were wiped out, the legiti-
mate promoter would have little or
no difficulty in financing a proposition,
| but as things now exist, the moment
a man goes east, and opens out as a
| mining promoter, people with money
| at once shut up like clam, and go
to the safe and produce punches of
worthless stock for which they paid
real money and fash it on the man
who really has something TO sell, and
everything is on from that moment. 1t
matters not how good the proposition
is, or the field from which it emil
nates-the legitimate promoter al
| ways runs up against these things, be-
cause he aims to tell the truth, and
the truth is not near good enough to
! land the money. How can an honest
man hope to get the money when he
| Is working along conservative lines
and real engineers reports and asks
! an honest price for his stock, when
| right across the street, a taking hot
| air merchant swells up with a full
page adj in a popular newspaper and
i claims to have a million tons of flfIy-
dollar ore blocked out and in sight,
and asks only one-half cent a share
for limited amount of the shares,
and when that is sold the price VIII
be advanced to twenty-five cents per
share.
"Of course the innocent lamb win
prefer the glitteYing bait to the real
thing. Ten chances to one he would
! not know a mine If he met it in the
road and 1t was labeled Mine in box
car letters, and one promoter looks as
good as another to him, so he bites
/ and it takes him months to ind out
that his head has been bumped.
''The congress is in favor of putting
this lot of fake promoters where the
dogs will not bark at them, and show
the investor that real mining is just
as legitimate as -four buying. and that
IL any man who has money to invest
will use the same precaution to thor
oughly investigate a mining PROPOSE.
ton before taking hold of 1t that he
would IL about to enter into any other
business, the percentage of failures
would be reduced to about three In
every hundred. Now we seek to put
IL out of the power of the faker to
fake and the investor TO be faxed.
'Anothhr thing. This vexatious
apex question is very sore spot in
: the minds of many of our mining men
The concensus of opinion OF members
of this congress is in favor Of vertical
side and end lines similar to what Is
in vogue in Canada and Mexico. 4
the laws of the United States can be
so amended as to provide for this
fruitful source Of litigation and griei