Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1912-01-29
ALAS, PoRCUPINE!

The wide open break which occurred last week
IN some of the Porcupine issues while due large
ly to reasons peculiar to the financial embarrass
ment OF one house and in no way derogatory to
the district itself, it still goes long way to EN-
phasize the fact that investors do not make money
gong into the development of remotely possible
prospects Even speculative as the eontn-
geneies concerning the development of virgin
piece OF mining ground may be- they should not
be so remote as to make their success contingent
upon the occurrence of miracle. If luck is al
ways more or less to figure in the preliminary
development history Of remote prospect, why
not incorporate this luck and bring it down to
within reach where investors can become ac
quainted with its details
The development of properties to date in
forcupne has confirmed lesson which the aver
age INNING investor has had occasion to learn ON
diverse other occasions in the past In fact ia
anyone who has lived long enough the lesson
y hothlhg more than repetition of other les
sons. rs unfortunate as the market results have
been TO date. as they concern most of the prop
ertles under development, there is no reason why
tins experience should not be used as a basis for
the REIMBURSEMENT of the entire remotely possible
prospect situation far as it applies to the in.
weston himself
One can well ask, even if it be late to do So.
= lnere was any reason for the organization of
anywhere from 30 to 30 companies with can;tal;
cations varying from 81 5o00 900 10 S3 600 600 N
That district when all they had to recommend
themselves for such capitalzations was their To-
cation III an area that promised well bv reason
81 lnmlmerable discoveries made at points snf
heiently distant from each other to Justify an
opinion that region Of gold was to be opened
in years to come. If one is to analvze the sit
natlon carefully. one is apt to find that these bio
incorporation figures represented largely the can.
uallzng OF enthusiasm coupled with well located
ground Beyond that there was nothing npon
which even business men would have cared to
advance nickel, though speculatively they iusti-
nea as mnch development as could be secured
frem the money raised for that purpose
Now the capitalizing of enthusiasm At any
Stage OF the game as far as it prevails in mining
= unfair, as IN the first place il takes ADVANTAGE
OF natural sentimental condition which Is bound
To be aroused IN the bosom of every individual
VINO Eearns Tor competency or who desires to
oeter ms financial resources through an add.
tlohai income Secondly eaptalizing unproven
ground AZ tremendous figures i fraught with in
numberable dangers, the principal one being that
experience ~ the past has proven that in every
new mining stampede irrespective Of the character
81 the metal involved. the investor i hound "a
draw many more blanks than successes. since the
proportion Ut one to the other can he compared
as 70 what three i To- 80
II instead Of organizing these proSnee,i,.
companies for Sech large capitalixatianx ia ~
- development corporations hal been organized
with capitalization II from $4,000 10 &N0O0
VIVA sleek capitalized 10 ~ 10 cents ner SHARE
or more f eSpetlieni thee ase<t ansss,.. -s,sahl
h"ks possibly lesi would have been Il tbe rate
Msht'siafds ant The work would have accom-
fs'>hsd 3ast AZ mueh what has been done an
dsF ~ prevailing notion - mine promotion h
as'ensss Nhefe actual pag orr would have teen
lVand nf g eeallasrsiai proposition npeuet stock
hsl,lsfs Meaid haKs rsesitsi sil tke wes frNa,
tetss g tN sheFee sfieee "a ntw enmpaaiss T. ~