The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1912-09-26
TIE "GEUBSTAkER" is
AN IMPORTANT FACTOR
MANY OF THE BIGGEST MINES IN
The WEST ARE RESULT
OF HIS HELP.
Goes Hand in Hand With Prospcctor
and Promoter, and All Three Are
Necessary to Building Up of Mining
Industry.
lSalt Lake Mining Review. y


Throughout the west many of oul
greatest producing and paying mines
were discovered by prospectors who
were out on "grubstake" The
"grubstake" is generally furnished by
men engaged in business in city OF
town. or by men who already have
made fortunes in mining, the supplies
consisting of provisions, tools. powder
tents. and sometimes burros or horses.
BY the terms of the agreement be-
tween the "grubstaker'' and the pros
pector the two are to share in any
valuable disco, cries that may be made.
the interests held by. each being in &C
cordance with the bargain made be-
tween the two.
Sometimes the prospector may be
out for year or two before he makes
discovery that appeals to him as be-
ing promising and possessed of in
trinsis merit and value. Quite often
he fails to make find of any i'm
portance, But, if he is successful it is
up to the "grubstaker' to devise
means for the development of the
prospect located In the joint names of
the "grubstaker" and the prospector.
1t may be that the ''grubstaker" and
those who are associated with him in
the enterprise have sufficient means to
go ahead with the development and
equipment of the prospect without the
aid of outside help. More often, how
ever, assistance is needed, and here is
where the promoter comes in. His
services are enlisted and he proceeds,
at once, to finance the proposition. If
the discovery borders on the sensa
tional no difficulty is experienced in
getting all the money necessary to push
active work in the Transformation of
the prospect into a producing and pay
consists of what might be
termed big milling proposition,
which, when developed, can |
ship ore of fair average value, and !
which could produce an unlimited ton
mage of ore which must be milled to
prove profitable. some difficulty is often |
for the average investor +
has his thoughts all centered on what
is termed "highgrade," and it often I
takes considerable argument to con-
vince him that it Is the "lowgrade"
mine that is the most lasting, and
which will be paying dividends for I
many years after the highgrade pro-
ducer has been exhausted and aband-
oned. The promoter, however, if he
Is made of the right kind of stuff never
hesitates; and, in the end he generally
in interesting the desired
capital, in developing the mine, and in
giving to the world another bonanza.
The promoter. however, has his
troubles and trials in carrying on his
of money raising He may
be thoroughly honest and working for
he best interests of his associates and
If those who have become interested in
he enterprise. BY some, however, he
IS regarded as crook, a "hot air.
and candidate for the peni-
entiary He is subjected to all kinds
If affronts, insults, and cold mtts. and .
especially so if he experiences difficulty /
n interesting investors. But, if he is
lble to make good" if the prospect
grows into mine and If dividends en-
'ich the bank accounts of stockholders
n the company that has been organ
zed. he Is one of the most popular men
n town, and people run after him, with
check books in hand, in order to get in
With him in any kind of a promotion
lie may have in view.
The "grubstaker" and prospector go I
land in hand with the promoter, and
vi three are necessary in the further
nee of the best interests of the great
mining industry of the west. The s
'rospector must have financial assist
nee in his quest for new discoveries.
prospect must be found before a new
PRODUCER can be given to the world.
nd the promoter must be brought into
he combination before any progress
an be made in mine development and
Equipment He is a most important
actor in mining operations, and, with 8
ut him many valuable properties
would remain undeveloped that, other