Bisbee daily review., 1909-06-12
"WilD-cATTiN6" IN THE MINING INDUSTRY.

Frank Alley hands us the following and we take pleasure in giving it space here:
 The recent severe attitude of the courts, conspicuously in Kansas City, has alreday borne fruit and exercised a saiutary effect. The benefit aris- ing from a strict enforcement of laws leveled at the wildcat" cannot be overestimated. He not only victim izes innumerable people in every walk of life, but he distinctly knocks" the magnificent industry of mining and incidentally robs thou. sands of worthy prospectors and small mine owners who really pos sess meritorious propositions.
 ''Now the government has double recourse against these dabblers in human creduiity-these creatures whose immoral efluvia rises to the heavens.
 "They can be prosecuted by the To- Cal authorities for obtaining money under false pretenses any time they misrepresent the real conditions of their proposition and sell share of stock, and they can be held respon- sible under the postal regulations for sending matter through the United States mails relating to Q fraudulent transaction or illegal enterprise.
 Flow after an interested party has honestly described existing condi- tions, he may then proceed to the expression of private opinion, theo- ries and personal conclusions with. out contracting the slightest responsi- bility. for, if the public is disposed to adopt his theory and his conciu- sions. he is not responsible.
 "The gravamen and the essence of the offense in a charge Of obtaining any valuable commodity under false pretenses, consists in misrepresent- ing conditions. which actually exists and it deals not in futures, nor in opinions. This rule Is universal and the construction placed upon 1t is unequivocal.
 "What I know is one thing, and am responsible for my statement. What I think is another thing, for the legal tribunal before which l might be arraigned cannot be the judge oi what I think.
 "These are a few suggestions iron, which the light+ingered individual who imagines that there is such 3 thing as legitimate robbery may prof 1t. Let him beware"
 These "wild-catters" are sooI known in Arizona and for this reasoI they are not active :n offering theil stock to our citizens. However. Ari zona owes it to the balance of tht country to give warning against thes' men who pose as prominent min,nJ men but never produce any mine One of the earmarks of the stock jobbins "wild-catter" is the multiple fly of enterprises which promotes an unloads on the uninformed and cred ulous. They organize one compan today. milk the public by sellin stock; tommorrow they have anothe Notation somewhere else to milk th public again: sometimes they hay two or three enterprises OF hand l one district: then when there is n more milk to be had for the separat companies a consolidation usuall occurs with increase of capital an
 more stock for sale, and so it zoe When buying stock in a mining con pany it would be wise to find ot what success the promoter has score in the past as a means of testing h' judgment. There are too many mil ing men in Arizona who rely on th sale of stock rather than on the sal of ore for the good of the territor,