Elk City mining news. (Elk City, Idaho) 1903-1913, 1913-07-24
Entered at the Elk City, Idaho, Post
office for transmission through the
mails as second-class matter.
BIG MINES VS.. PROSPECTS.


Any amount of money is in bank in !
various commercial centers awaiting |
investment in mining enterprise. This
might be cheerful news but for the fact
that this coin of the realm is likely to
stay under lock and key for long time
to come; or most of it, and for the rea-
son that the owners of this wealth
want to let it out of hook under one
condition only, and that is for the pur-
chase of big and producing mines. In
order to expedite this investment the
capitalistic holders of the money in
question have had many experts out in
the hills examining mining properties
which have been placed upon the bar
gain counter. Thousands upon thou
sands have been expended in examin-
ing properties claimed to be just what
the investor wanted, and hundreds upon
hundreds of mines have been visited
and inspected; and all to no purpose
for as a general rule, a big and pro-
ducing mine, if at all attractive, is not
for sale, unless at fabulous price; and
if offered at a figure supposed to be
reasonable, it is found to be worth
much less than represented. And so
the months and years roll by, and it is
only at rare intervals that the sale of
really big and producing mine is record
ed. And the money stays in the vaults
and is likely to remain there until tie
really big and productive mines are ex-
hausted. Then, and possibly not until
then, the thousands of promising and
meritorious prospects will receive the
recognition they deserve.
1t used to be that good prospects
were in active demand. Such is not
the case now, however, and it must be
rare and rich find that will be able to
cause any excitement in mining circles
at the present time. And yet it is to
the prospects of today that we must
look for the big and producing mines of
tomorrow. The good prospect, as a
matter of fact, should be more attrac-
tive than an old producer, and for the
reason that its assets are intact and
have not been dissipated by production.
If it has a million or more in ore within
its environments. practically untouched
or undiminished, it certainly is worth
more than a proposition that was once
in possession of million or more, but
from whose resources possibly half a
million has been taken during the pro-
cess of mine development and opera
ton. And yet the, tendency of the
times is to buy developed mines and
ignore the prospects; peculiar phase
of this condition being that, in making
exhaustive examination of mines al.
ready developed, the expense incurred
would, in many instances. develop 6
prospect, which could be bought at &
nominal figure, into producer fully as
valuable as the one under inspection
and which is held at figure thou
sand times greater than that at which
the prospect could be purchased.
1t is pity that investing capital il
not paying more attention to valuable
and meritorious prospects, prospect
which are generally held by need.
claimholders who can develop then
only in spasmodic manner, and VIII
may hold them for many years befor
they can be listed as even occasions
producers. The hills are full of propo
sitions of this kind which need only
small amount of money, comparatively
and few hundred feet of intelligen
and systematic development, in orde
that they may take rank as regula
producers and regular dividend-payers
The claimowner, after years of toll an
hardships, may eventually develop hi
prospect into bonanza mine. VIII
should he sell it then? He is on cas-
street and can take out his ''velvet
as we'll as could the capitalists who
out after just such propositions b'
who is not willing to pay the price.
1t is the development of the pro
poets. and not the sale of producir
mines, that means prosperity to tn
western country, and we may look II
more activity in mining when capt.
realizes the fact that, after all, mo-
money can be made in the ACOUSTIC