Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-03-22
SHEARERS Of
LAMBS GET FEW
FLEECES NOW
Acres of Floor Space Abandon
ed by Former Stock Brokers
and SpecuIators-Wall st.
a Very Quiet Place.
iIron ore.1

tIron Ore.)
Iron Ore is told that thirty thous-
and acres of door space have been
given up by brokers and fellows who
in the boom period of the past few
years, made an easy living by main
tanning elegant suites of offices In the
brokerage district of the city Of New
York. Thirty thousand acres is q
pretty good-sized area. and gives the
reader an idea of the magnitude OF the
operations of the men who set webs
ami snares for the dollars of those
who wished to get rich over night.
All Wanted to Be Generals.
So many stories of the fabulous
wealth being dug up at Goldfields
Cobalt and other places, were told
and youched for that 1t was easy To
get many people to thinking thai
there were other mines as good. In
a day we had long line with King
Edward at the top and Stray Dog at
the bottom, and all yieing with one
another as to which could take the
money OF the stock buyers most rap
idly.
Printers were working double turn
trying to keep Hp with the demands
ing columns OF newspapers were not
sufficiently plentiful 10 accommodate
all those who had mining wonders
to present.
Calumet & Arizona North Suite,
and Butte Coalition were also point
ed out as samples OF what could be
had by simply shaking the spare
change out of your sto=kings and
getting it in before it was eyerlast-
ingly too late.
Millions Were Squandered.
There were East. West and South
Buttes. Northeast, Northwest, South
east and Southwest Buttes. Butte Elk
tensions, Big Buttes, Little Buttes,
and others with that magic wor den
twined in the title. There were all
kinds OF Calumets and all manners
of Arizonas, and the agents needed
floor space for their desks and pretty
furniture. The brokers multiplied
like bees, and they worked during
the harvest time for all there was
in the business.
Talk Wasn't So Cheap, Either.
Thousands of fellows who had new
er been in a mine in their lives, who
couldn't tell copper or silver ore
from a grinGstone, were issuing sage
advice on various mineral PROPOSE
tons and, the strangest past of 1t
was, that they were listened TO, their
words taken as gospel, and the good
money of thousands exchanged for
their nighly-colored certificates.
These mushroom brokers never for
got to mention in their circulars that
they would be glad to give advice Oh
any mining property in which anyone
might be interested. That was one
OF the best jokes they used to de
liver, but it often worked.
Then there were the fellows who
thought it the easiest thing imagin
able to find mine, develop it, and
pocket the profits. These chaps often
really believed that this was the sim
plest sort of a performance. They
had no trouble in securing options al
high prices. got their friends to join
with them, issue stock On the install
ment plan, begin their shaft sinking
and in a few months found themselves
out of funds with no ore to encour
age and with many disappointed
partners Purchase price could moi
be raised and the enterprise had to
cease Millions of money went in
but too often had no knowledge oi
mining operations, squandered the
money into iHegitimate things and
into those badly managed, had
hurtful influence upon the concerns
that were doing business right anc
had a foundation in the way Of good
ore deposits. Many holders of good
stocks did not fully protect them be
ia hnf
in other issues of less value. WheI
the pinch came they had to sacrifit
the good for the reason that the 9th
ers were worthless as collateral, AMI
many of them had gone out of bust
ness altogether. with the collapse o
the speculative fever, brought on b.
a scarcity of money. capital haYini
withdrawn from the field temperate.
due tn reasons well UNDERSTOOD
there was nothing in the way Of buy
ing and selling stocks for the cheal
John brokers to do. Their expense
were heavy, they had lived well, an
they turned over the keys to thei
landlords and went out of business
Thus we have the thirty thousan
acres of vacant floor space vher
late these fellows did such a wonder
full business in mining shares at tn
expense Of thousands OF dupes VIII
did not stop to consider what the
were doing or with whom they wer
doing. The result was they wer
done"
OF course the money hasn't gon
out Of the United States. Thes
brokers, so-called. kept it movin
and it is still a part of our circula
ing medium. but far removed froI
the hands of those who paid it owe
to those chaps with the ely tongue
and nimble pens.
Rawhide ls Giving Hopes.
At the present time Rawhide, New
is furnishing material for anothe
loom ia the gold business. There
engaged a lot of very clever writer
who are painting word pictures
the most glowing colors, and who's
full-page advertisements are aDpea
ing in the metropolitan newsnapel
and magazines, and the same cid tGii
are being used for the trapping {
the innocent Dates are being 81
after which the stock is to /
put up and the public is being ca
toned that it should get in
cpce to avoid the higher prices TIL
are soon to be applied. This o.
chestnut. musty and lying, has
WAYS worked with wonderful Ell
fcncy. Reports Of the richness