The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-04-17
PROSPECTS, MINES
AND NEEDED CAPITAL
NOT ALWAYS EASY TO FIND A
NINE THOSE ENGAGED
IN LOOKING.

Finding mine Ia apparently nc
easy task. II will be remembered that
year ago the Canadian Mining and
Exploration Company, Limited, was
organized with ample funds and an
excellent STAFF to finance and operate
mining properties, says the Scientific
and Mining Press While opportunit-
les In Canada were to receive first
consideration. the company was open
to proposals from other countries as
well. The company was prepared to
provide capital for the extension of
plant or reequipment of producing
mines or to undertake their manage
mcnt; to finance and work idle prop
critics already developed; or to test
prospects from the earliest stage of
development.
Travelling Is Expensive.
The balance sheet of the company
shows that in the first year Of Its life
nearly $4,000 was expended T which
$12.7O0 was directly spen, on exam
nations, not counting staff salaries
and travelling expenses. In all, 42S
properties were considered Of which
2S5 were in Canada, 10 in the United
states. II in Mexico and the remain
der scattering. So far as public in
formation goes, no property was ac-
cepted, and II Is known that only o
very small number were found to pre-
sent such intrinsic evidence Of value
or were offered on such terms as to
warrant field Of examination. I'm
deferred by their first experience, the
company Ia still hopefully looking for
a mine and has issued a circular CIV
ing details Of the sort Of information
desired when proposals are submitted
Only Occasionally . Mine.
The experience Of this company tai
lies with that Of the Guggenheim Elk
ploration company. the United States |
Smelling. Refining and Mining Ex-
ploration company and other concerns |
actively engaged in search for mines. |
OF the large number of properties sub
United very small portion warrant |
field examination, and only out Of the
many is an occasional mine found. II
Is pertinent. however, to point out that !
each of the concerns mentioned has
found good mines and this Is true in
directly Of the Canadian company,
since its directors and stockholders
are owners Of some Of the best mines
In America.
Poor Ideas Of Values and Presenting
Property.
1t is not that there are no mines
still to be found, but owners of unde-
veloped and idle properties have so
little knowledge OF how to present
property, of what property must
show to warrant its purchase, or such
yaggerated notions of values that It
IS hard to do business. From every t
mining camp there Is hopeful talk
lbout the coming of outside capital
md yet 1t rarely takes more than
ew minutes study of proposals as ac-
ually made, to show that they are not
N business basis Few owners of
even know how to get an
lonest sample Of their ore. and with
he best intentions they deceive them
'elves and others.
Must Always Have hope-oood Also
to Have Ore.
The miner must have hope, but 1t
3 well also to have ore. If you would
ell a prospect. find out first what you
ave, then write an accurate state
nent regarding 1t. two-cent stamp
viii take your papers to any of the
mentioned, or a dozen 9TH
rig, and your property will be given
ust that attention that the face of
our statement shows 1t to deserve
70 sell real property or to obtain
money for development. 1t is not me-
essary ito know a man who once
new one of the Gnggcnheims" nr to
'ay long string Of commissions to
middle men; but you must have
Of real value and be able to
onvince the buyer Of that fact--just
IS you would If you sold horse.