The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-10-09
STOCKS
RETARD MINING CAMPS

| address by Herman Zadig of Sal
Francisco at Mining Congress, Septem
her 2s.)
Mr.. Chairman and gentlemen of thu
American Mining Congress:
i felt very much honored when / wa
asked by the chairman of the Goldfel,
executive committee of this congress
Mr.. Joseph II. Hutchinson, to addres:
this distinguished body of men on any
subject / might choose pertaining tC
the mining interests of the state of Ne
vada, the state which is very dear to me
and which / may almost claim as my
own, though l am a citizen of the great
state of California.
/ have always felt that Nevada and
California are one, that all our interests
are mutual, and that what is good for
one state is good for the other. The
subject that / have chosen-Is the
system of Incorporating mining com
panies under the law which permits the
companies to issue worcestershire stock
Gas they have done), not the cause of
the present dullness in most all mining
.a,nns of Nevada
My answer to you is, that it is alb
solutely the cause of so many idle prop
critics in Goldfeld, Tonopah and other
mining camps in the state of Nevada.
l think mining is as legitimate a bust
ness as any other business, and that if
you don't start it right you cannot
make a success of it. If you start in
to erect a building, you certainly see to
it that the foundation is properly put
in before you start in to build, and so
it is with any business you may start,
the foundation must be put in right. |
claim, and / think | am right, that the
foundation for starting to work a min
ing property properly, is to incorporate
the company to which the respective
property will be decided properly, so
that the company will be able to raise
funds to develop their ground.
Now whether a few individuals come
forward first voluntarily to subscribe
money for the opening of the mine, cuts
no figure. The main thing is that the
company has a good board of directors
and has a system to keep on raising
funds for the further development of
the property, should the company be re-
quired to sink to a greater depth before
finding bodies of ore that would make
the company self sustaining.
/ have given this matter a great deal
of thought, especially since ! was here
last, about two months ago, and saw g
camp like Goldfeld, where there are
two great properties like the Goldfcld
Consolidated and the Florence, both
turning out lots of gold and paying good
dividends to their stockholders. Wtep
l then turned around and saw the al
joining properties idle, l said to myself,
there must be something radically
wrong, and if the people in Goldfeld
are asleep or do not realize what is
wrong, then l shall be the one to tell
them to wake up, get busy, and follow
my ideas about the worcestershire part.
MI. Chairman and gentlemen of this
the old Comstock lode has
been and still is a great educator n
mining business. I do moi think that
there is a place in the world where bet
ter mining has been done, and still be-
ing carried on, than IN the Comstock
lode.
/ was glad to see when / went
through the Goldield Consolidated the
last time l was in Goldfeld, that they
have adopted the Comstock system OF
timbering, the only way that
/ can see, a mine can guard against
caves, and the only way to take out
ore the full width of the vein where the
veins are large, as they are in the
Consolidated, between 30 and 40 feet
wide. But it is not alone in mining
that the Comstock lode has been a goal
teacher, or how to do things right.
The men in control of the different
Comstock mines, when they started
their interpretations, Incorporated them
on the assessment plan. They also saw
to it at the time that the directors were
men of integrity; that the officers were
well paid. The presidents and seere-
taries received big salaries. The secre-
taries did not need to take a chance
that there would be lots oe transfers
in order that they might earn a salary,
which, to a great extent, is the Gus
tom prevailing now among nearly all
the mining companies of Nevada Out
side of the Comstocks.
Cheap Men Costly.
Gentlemen, you cannot get . good
man cheap. l never could. Cheap
men like cheap goods are deat. | be-
lieve in high wages. The system of
making mining shares worcestershire,
when you incorporate a company. is alb
A.