Mohave County miner., 1911-12-23
The Outlook.

may be worth while to make some in
vestigations rs to the cause or causes.
There is much interest in the mining
industry and the production in this
state is running ahead of that of last
year. The same is true of Nevada,
Idaho and other surrounding states.
Nevada was third state in the Union
in the production of gold. The settle
ments for ore and bullion in this city
are showing considerable improve
ment over the records of previous
years.
Since the mining and smelling in
dustries are hourishing and prosper
ing, why is there not more demand for
our mining stocks? This is a reason
able and seasonable question. There
are some grounds for the present low
and inactive condition of the stock
market.
First We are passing through one
of the cycles which have character
lied the trading before. We have had
periods of two to three years of steady
declines and then the pendulum has
swung to the high point on the other
side. 1t would seem that the low
point IN the arc of oscillation had been
reached.
Second-There is need of some great
strike. one ike that made in the Grand
Central in 1898; like that made in Colo
RADIO in 1907. and n little later in Sioux
Consolidated. This will come in time,
but may not be in Tintic district. Park
City, or Bingham. 1t may be made in
Park Valley. or il may he made in
some of the promising camps of Neva-
da like Seven Troughs, Manhattan,
FairvIew, or Jarbidge.
Third-There are not so many pros
pectors in the hills now as there were
a few years ago; but there is some very
systematic prospecting being done
BY this method about all the great
mines have been located. This work
will tell and the results will be mani
fest in a reviva! in stock transactions.
Fourth-The mining stock business
has been greatly abused by promoters
who knew little and cared less for the
best plans for developing a good pros
pect TO a mine. Taking advantage of
an active market millions of shares of
stock were floated and a very small
part of the money paid for the stock
was used in development. As result
many a valuable prospect has been lost
for the company. The stock was nom
assessable, and, when the slump came,
there was no market for more stock, if
any remained to be sold, and there was
no way to raise funds to continue work.
Others later came along and relocated
the ground and a rich mine was de-
velOped.
FIfth-Some writers who have had
little experience in mine development
or efforts to finance company have
been publishing articles discouraging
investments for developing a prospect
to a mine. A writer in a recent arti-
Gle IN a great weekly paper makes this
statement: II wish it were possible
for me to convince the readers Of
how unWise il is for either the small
or large investor to purchase the stocks
of such companies" 'Such CON-
paDies" means those that are under
taking to develop prospects.
This prohibition would include such
companies as the Calumet and Hecla
when the stock was selling at Is per
share in the effort to raise funds to
make a mine; such as the Utah Copper
when the stock was selling at less than
IS a share; such as the Goldfeld Con.
solidated, whose stock was selling at
10 cents share; such as the Centen-
NAL Eureka. whose stock went begging
at 10 cents a share when the capitali-
cation was only 10000 shares, but
whose prospect became and is still one
of the richest mines in the state. If
no one invested any money to develop
prospect, there would be no mines to
pay dividends. Such teachings must
be overcome. They show a lack OF
thought. The advice of Cecil Rhodes
is much better. He said.
LESS money is lost, proportionately,
in gold mining than in any other bust.
ness or investment on earth.
BUY a good mining stock; buy it
low: when it has made a profitable
advancement, sell it; buy another good
stock; pursue this policy, and before
vou dream of il Won will find youT