The Ketchikan miner., 1908-04-25
YuKON GOLD

Commenting on the recent financial sensation caused by the immense fo- tation of stock, based on the Guggen- heim- Klondike interests. popularly referred to as the Yukon gold" en- gineered by Tom Lawson of "Frenzi- ed Finance" fame, and in which thou- sands of small investors tumbled over 6 ,ch other in their eagerness to buy shares at fancy figures, the Victoria Colonlst makes some sage suggestions, which, fl needed, may save millions of other dollars to people of limited means of "get rich quick proclivi- ties. This "Y ukon gold.n says the Colonist, may he a good thing, for all we know to the contrary. We know nothing about it whatever and the remarks which follow must not be taken as even indirectly intlmating that the stock is not valuable. The almost unprecedented rush to buy shares is, however, sure to lead to other ventures in like direction, and 1t Is as certain as that night will follow day that many of them will be frauds, pure and simple. This paper has made it rule not to ad- vertise stock issues where all appeal 1 has been made to the whole continent for subscriptions for fear that by printing tlamboyant assertions as to the prospects of mining ventures, it might lead people who could not afford it to place their savings in the l hands of men whom they did not know and for purposes concerning the real merits of which they could not hope to be fully informed.
 Many persons, who would not think for a moment of putting dollar into a local enterprise of any kind, will send it freely away to people, of whom they have never heard before, for shares in companies about which they cannot possibly know anything with certainty. If they take the trouble to think, they must realize the ab surdity of looking upon such stock purchases as investments. As rule the promoters of such companies dc not say much about dividends. They talk about the advance in prices ot stock. You can buy this stock, they say, for sl0 share: ia thirty days it will be worth SIP, in ninety days Sl; and in six months it will reach S20, provided such and such things hap pen. The inexperienced person, witt S5J or Sl00 in the saving bank. which
 IS yielding only Sl 90 or B. co veal
 interest. reasons that even if in si. months the advance is only S5.00 the nrotit wol Id be a great deal more thar the savings bank pays, and so tht money is withdrawn, and in due time q very pretty piece of paper is recelv ed showing that the holder is entitled to a certain number of shares in a cer tain enterprise. From that time or the holder of the certificate has { new interest in life. and is watching the papers to see the promised rise ir value. If the enterprise is fraudulent
 it is case of hope eternally deferred
 for nothing n'ore is ever heard of the matter. If the enterprise is legiti. mate, that is to say, ii it is one whicl
 is likely to become profitable, the price of shares is very likely to be de pressed and be kept down until an in ner circle gets most of them. One may take it for granted in these mat ters that the small fry are invited only to the launching of the enter lrise. and that when it is afioat the bigger fish take charge. We repeat that this article has no reference tt any enterprise in particular, but k intended only as a warning to those people who may think of buying shares in great enterprises that are widely advertised. They may be the best possible enterprises Everything that Is claimed for them ma. be abso- lu.ely true: but the element of risk is ei.Jrmous. When once the money has aeen sent away, the chances of get ting it back are slim. Better leave stock gambling to stock gamblers. | you have money for which you are uot likely to have any use, the best thing to do with it Is to invest it in sOiLe enterprise near home, or put It 1T real estate. You may not have as a!- turing prospects held out to you, as ingenious advertisers Of great projects know so we'll Low to depict. but you will lose less sleep over your money and be more certain of profit.
 1 \ Victoria papap wants tO know