Daily Arizona silver belt., 1910-01-30
By J. PARKE CLAIMING

on the contrary it is never so deep-seat- ed as the ordinary promoter would have
 one believe.
 The prospector in securing the coun- | try finds on some hill red iron stained l showing, and he sinks small pit on | it., and at one or two feet from the ] surface he finds some mineral. He then stakes this out and records a claim in the nearest land office, and to some peo- | pie he now has mine. Such, however, is far from the ease, and 1t requires | time and money to actually determine
 whether the vein or deposit which IS
 located has value. Either he or the
 person to whom he sells his claim for
 small consideration spends money up
 on it, and it may or may not turn out
 to contain deposit of ore sufficiently valuable to be exploited.
 If the showing turns out well, the
 property finally increases in value until
 there is enough ore in sight to warrant
 the erection of plant. This money is
 furnished and the property is now in a development stage. When this IS com
 pleted it then comes to a productive stage, and from now on it's actual in
 trinsic value starts to decrease, for it | is but a logical deduction from the statement that ore reserves do not grow in a mine. It would be wrong though, to assume that the possibilities
 of the mine decrease, because during l the time of extraction of ore, devel opment work may be continually open
 ing up new bodies, and it is the possi. l bilities of discovering new and larger ! tonnages of ore that make for the spec
 ulative end of the property. Still, how, ever. in all mining investments the fact | of this ultimate extraction of the ore | should be taken into consideration Roughly speaking, in property that l can show it has thirty years of ore
 ahead the question of ultimate extrac'
 ton need not be of great importance at 1 the moment.
 In determining the value of mine we have two main points to consider First, the net profit in the amount of ore which the mine has developed, and
 second, the possibilities of finding other ore bodies It is this possibility of finding new ore bodies, or the extension
 of old bodies, which makes mining
 investment so desirable to people who know, and which holds forth such gilt tering possibilities, or even certainty
 to the man who first reads the glow ing prospectus of the old time promo. | tor.
 If the successful mining investor will study mining conditions and mining re. ports in the same way that Mir. HarrI-
 man and Mir. Hawley in their early days studied railroad reports, and will get an idea of values and disregard prices, he will find that mining invest ment gives him one of the best returns for his money that he can find. As Mir. Hammond has pointed out to you, unless you are actually in the mining
 business yourself, or unless you make
 thorough investigation of it, it is not for you to invest your money in mining prospects. The investment of
 money in prospects must be left to those people who are distinctly in the mining business, or to development companies who can afford to have nine failures out of ten. It is for them to
 weed out those properties which in
 their early stages appear upon the surface as good as the successful one, but will not stand the test of the shaft or the drill. If you do wish tO get into prospect, it is better for you to do it by owning stock in one of the com panies which does development work. Do not, if you are merchant, be led away by the alluring tale of your friend who has gone west and met in the hotel the prOspector coming in with his bur