Gilpin observer., 1910-12-01
SOMETHING TO REMEMBER.

NOL reallZlnS on tnelr LnVeS- mem
to the extent anticipated, mining
companies of the class organized ia
sell to the general public stock t1
secure funts for working m mes has
had a bad set back. These organiza-
tions were generally founded on re-
liable basis. That Is, back of these
were properties of worth and prom
Use. There had to be something 9TH
erwise they were frauds, and that
will bring them under the law. Not
for the sake of argument but for the
proof of the legitimacy of the COM
pany, more than nine-tenths had q
bass in fact The organizers invar-
iably put in great deal of money
before the company stock had been
offered the public. That is enc guar
antee Of the faith of the owners. The
public 's let into the organization be-
cause the mine did not come up to
expectations. There is nothing to be
held up against the company CT ITS
officers. Nine.tenths of these acted
in good faith. Probably a great num-
ber OF the failures can tie laid at
the door of so-called expert mining
engineers. They would secure good
fee for a favorable report en- a prop
erty and probably just as much fer a
turn-down; but, that is a question.
There must have been many favor
able reports. How many proved all
that had been said of them? 1t may
be though they failed to Fay div.-
dends, these properties are all that
has been said Of them, but owing to
circumstances the company went to
pieces. Now, these mines must still
be just as good as ever, probably let
ter than when first sarted becauce
of the amount of work performed.
1t is important to know all this.
A very favorable repor. by an exper-
fenced man must always be of record.
The mining mans reputation is at
stake. His asseytiors, should they
not be borne out. places him in po-
sition of discredit. These people can
not afford to make wild and glaring
assertions. 1t is the par. of wisdom
to remember all Of this, for It can
work a great benefit to those mining
inclined when casting about fer a
property likely to prove of value.
There must be great number Of
properties .s G.lpin county which
have been reported upon by scme of
the most experienced mining men. II
was on their word, maybe. that ex-
tensive operations were un1ertaken.
OF course. IL the properties have
proven all that has been fayorably
said of them they cannot be on the
market at any reasonable figure. But
though known to have been gwen
favorable reputation, that IS the
class which should be considered. If
the man, caring to go into mining,
could accept the old report on the
property he would not need procure
another, remembering al that had
been said in the orig nal report on
the mine. On the other hand, should
property be witho a favorable rep
uation it would be the part CT wis
dom to hold off bit till things are
shown in a better light. A bond and
lease is pretty good way to procure
information before big operations are
begun or purchase made should euch
be the, inclination.
A property that has not come up
to expectations though favorably re-
ported upon by one or more conpe-
tent mining engineers, should be con-
sidered as favorable. 1t is just like
this: They are professional and the
intended purchaser a novice. The
first party may be Of great help to
the other. He would be certain to
tell him things he did not know;
these worked out might prove the
solution OF a very complex problem
in mining.
Keep in view the fact of a mine
favorably reported upon by experience
ed mining men, though not proven
up to the time when the mine ceas'
ed operation. Is proposition that
should be considered favorably.