White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-10-05
THE TIME TO BUY.
All Signs Indicate That Mining
Stocks Purchased at the Present
Condition of Market Will
Prove Good Investment.

Now Is the accepted time TO buy
mining stocks. A mining man who
Is also a well-recognized authority
on the stock market, recently said
that he could buy the stock of sew
eral mines in Tonopah for less than
the mines We're worth. 1t was a
striking statement, not literally true
but made TO call attention to the
present anomalous condition. says
the Reno Journal.
The entire stock of no mine is
available for purchase at the price in
dleated by the market quotation, for
the moment a buying movement is
detected the price advances on the
market. What was meant is that if
you take a mining stock that is
quoted, say at SO. with a million
capitalization. 1t would fix the market
price of the mine at $500, 900, but If
you considered the output of that
mine as a cold investment
the mine should be worth two or
three millions.
Because. at this time much money
is tied up in industrials and other in
yestment departments, mining stocks
are selling for much less than they
are worth on a strict investment
basis. II is a good time to buy for,
II the public only knew, the time
when most people buy mining stock.
is the time of great mining excite
ment and exploitation and they gen
orally pay then, more than the stocks
are worth,
There are signs capital will soon
be free to take up mining invest
ments as a cold business proposition.
One of the signs Is the fact that the
industrials and other investments so
long relied on, are proving In
profitable. Some highly recommend
ed investments of the past year were
bought by the public near the top
OF the market more as speculations
than as investments. They went
down. not up. They paid only a
moderate interest and in the present
situation many corporations are slow
to increase the interest offering. SO
much capital has been required in
late years TO absorb competition that
the process has nearly stagnated the
master companies. They have
bought out their competitors but
have acquired a lot of secondhand
material and a lot of extra expense.
The investing public will not long
tolerate an investment that neither
promises a speculative profit nor a
good e from year to year. IL
Is turning to other fields and is ON
ing back to the mining Investments
with clearer eyes.
In Nevada there need be no par
tieular longing for an era of speeula-
aIon in mining stocks. Nevada has
had enough OF speculation, but there
vii assuredly be an era of mining in
yestment on conservative but extern
siye lines before long. When mines
nav in dividends like the Nevada
mines do today they are bound 10
ar ar later 10 attract the attention OF
those who are not getting dividends
not sufficient interest in other lines.
The prices of mining shares are
ton low considering the mine earn
ings So long as the earnings con-
time on their present basis the
mines came lower in value. The
nronarties are there. The disparity
hatveen prices and value is now so
oreat that IT requires little gilt OF
nronheey TO foresee in the very near
,,,nra an era of mining shares buy-
ing.
Now is the accepted time to ouy
oooa mine shares. There never was
and never will be a good time to ouy
poor mine shares.