The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1910-10-13
CONFIDENCE IN THE MINING INDUSTRY.

CONFIDENCE in The MINING INDUSTRY.
Considerable comment has been made by readers last
weeks editorial dealing with what be expected when another
country the Ills liable therefrom
Many coed the idea Of being dangerously threatened with
any kind of BOOM Our predicting boom IN mining
securities due belief early and material advance in
lead prices That this idle dream attesed by noticeable
senng in the price of this mineral since that editorial
written All who have made study market conditions and
familiar with the prospective demand and the sources OF supply
agreed that the price will and the only point which
any is the height to which will AS we
pointed before everything doomed here four years ago on six
lead and predictions of eight cents are made by men
position speak with authority not foolish or
radical statements.
Some comfort being given to producers of by
students ocondons While their statements so far have been
ngd with they agreed that with uses for the
refined product better price will rule for the material
None rash enough predict return of the prices prevalent
few when Of speculation carried the market
for this product above Is cents pound but anadvance OF few
pound would give comfortable margin of profit to
nbe of properties which exhausng their
without giving any adequate returns to stockholders
We all that confidence the basis which business
is largely conducted Anything that tends unsee confidence
has tendency create panic Since the autumn of 1907 there
has been entire lack of confidence exhibited by the pub
lie toward the mining industry This brought about by
speculation manipulation and the exploitation of wild cats
Following the collapse Of the boom OF l969O7 the mining
industry this section underwent change that entirely
for districts good The manipulation and irresponsible
moer has been almost totally eliminated Wreckage marks his
path Confidence abused and dspated difficult to reinsae
Here the process has been but it is growing gradually and
fOundatOn mas Deen wen a Dy nOneS
intelligent and perseverng operators who have brought
producers and have list of nearprduce which in ocome
will astonsh world and draw ali the Occur dAenes
three years has been almost impossible to interest out
side capital this district Notwithstanding this obstacle vast
sum money gone development of prospective mines
True this has from the outside Holders of stocks
called for pretty regularly but they have
learned respond with coming to know that
such money expended ntelgenty and economically and all
applied proper us increasing the value of the original invest
ent nrnsicay if commercially But the great bulk Of the
capital which has gone into enterprises in the past few years
been subscribed by local residents of small but large
faith who know the capabilities of the district and the
wards which may expected when the work is dsce honestly
and efficiently.
The attitude of The Miner we'll assessments
need any extended review here but is matter Of constant
qualification and investors alike gradually
swinging into line and favong against which there
exaggerated prejudice few With what has
been accomplished this direction in few look for the
day when the investor mining securities will
decline worcestershire stocks In fact believe this day
is far distant and know of brokers who advise
their clients against the purchase Of worcestershire security
selling treasury stock for development purposes it is
difficult prices that absolutely fair ALL If the
originally started 10 share the question of when
it ud be advanced hard settle One company this dis
steadily advanced its price from Is so
share all buyers have been treated fairly but this
Market conditions affect and hard refuse the Opp0r
tuny sell block of stock lower price than that fixed when
the company sorey pressed for funds Just any other
business money worth operator time than
another but will the investor who has paid SO snare be
satisfied when he finds that after the property has been further
developed and ntrnay valuable his neghbor has been
able buy 40 cents? 1t will take lot of explanation from the