Crittenden record=press. [volume] (Marion, Ky.) 1907-1909, 1909-08-05
MINING As An INVESTMENT OR As A
GAMBLE.

wv hhN hheN eAN
held out to lead investors into mining
enterprises. We should not do so
did We not think it to the advantage
of the real mining industry to have
a correct understanding Of the Gen.
diuJns. This is distinctly to the
advantage Of the engineering profess
sion aud the class Of operators who
are engaged in serious mining, who
are the members of the mining in
dustry that We specially represent.
They and We are anxious TO see min
ing regarded in the same way that
manufacturing and real estate enter
pnses are considered, conducted aud
valued We waut to see the elimin-
alton Of the irresponsible and iguOr-
ant promoters, takers and Missionaries.
II the public does not squAnder its
money among them there will be more
for legitimate purposes.
The offerings Of mining investments
TO the public may be classified under
Ave heads, as follows:
l. Developed mines, whereof the
ore. bodies actually disclose, promise
definitely q return Of the principal
and al adequate interest (At least 8
per cent upon it in the meanwhile
the data as to ore reserves being fur.
nished by engineering reports Of the
highest character. Individuals or
small partnerships are seldom able 10
afford the expense Of developing
such properties, or the engineering
advice that Is required, and in pen
forming those things the develop
ment composites aud banking houses
perform a useful function for which
they are: legitimstely entitled to
profit
Mining Investments offered under
such auspices are of the highest clas-
and are especially attractive inAsmuch
as the ore. bodies are seldom delimi.
ted and there is frequently a chance
for enhancement in the value Of the
principal. Nevada Consolidated and
Miami we're shining examples Of this
kind Of mining investment.
2. Developed misses. whereof the
ore BODIES promise good dividends for
a longer or shorter time, but whereof
the return Of the principal is slurred
over. or not talked about at All-per-
hAPs on the theory that the devil
will take the hind-most-the chief
purpose Of the promoters. hackers
and managers beng to affect a dis
tribuuon Of the stock. We refrain
from citing any examples Of this
class, but feel free to express the
opinion that the majority OF the
names that are we'll known in Boston
and New York come under it.
3. Good prospects, whereof no.
thing definite can be said except that
there are promising chances for max
ing a mine. Sometimes the hopes
are realized and we have a Trimoun.
tain or Ahmeek, which pay the ORR
ginal investors so or 100 for /. Such
returns are those to feel proudest
about, but they are conspicuous by
their infrequency. The development
Of the good prospects usually falls in
to the hands of the development
companies and banking houses aud
they are eventually present to the
public under class !.
1. Developed mines of doubtful
profit, There are many operators
" no are honestly ignorant that there
mines are really losing money, all !
things considered. Some Of these
are good lttle properties when re
,arded Oh a proper basis Of capital.
.atiou Mines of this elias, from the
standpoint merge into
hose Of elias. ,
,. Wllcats. These are adycr-
ised in the newspapers, aud present
eckloss claims and z'it'erirg gene-.
lties. Reports By reputable eugi4.
ers are always absent The blool