Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-02-20


that his article in the previous weeks
issue of that publication was intend.
ed as a knock upon the industries of
this camp. In explaining his views
he pens the following.
Now why, in the name Of common
sense, is 1t that a lot of people CON
strued my Tonopah remarks last week
as a knock at the stocks of that
camp? Or, If not a knock, at least
half-hearted sort of semi-pessimis-
tic view of things there. | have moth.
ing against Tonopah quite the re-
verse in fact Tonopah is a won
derful camp. 1t has big and profit
able mines, well managed. and it has
long and prosperous future ahead
of it. 1t has always been my posi-
tion that the story of Tonopah will
be a long time in the telling and that
the yet undiscovered ore will make
no mean contrast to the present re-
serves of the camp. | haven't chang
ed from that position in the least and
don't expect to do so in the very near
future
But what the Investor is supposed
to do, and what he does do so far as
possible, is to look things squarely
in the face. II means the abatement
Of not one iot or little from my very
real appreciation of the Tonopah
camp when / say that for the time
being at least, the snap and enthu-
siasm has gone out of the market
for the stocks. And it has. Jim
Butler is active, Merger is liable to
do something new at any moment. the
whole camp is unqualifiedly healthy.
but that does not alter the fact that
whereas few weeks since Tonopah
was the only thing on the mining
map, today it has to yield to Cobalt
which for years. from a market stand
point, seemed to have been wrapped
up in a nice damp shrould and tuck
ed away on shelf to await the day
Of judgment.
SO let's get this thing thoroughly
straight, If any Of our Tonopah en-
thusiasts want to construe my inno-
cent remarks as treading on their
toes, VIII | suppose there is no way
1t can be helped, but the intent was
quite the reverse | merely pointed
out that the edge was temporarily at
least off the situation and that some
new and important development
! would have to take place ere interest.
! now showing signs of smoldering.
, would break forth again into a flame
Then | intimated pretty plainly that
such development would occur
+ Speaking Of Tonopah, am given
e to understand that it is much sim.
. pier matter to buy Belmont stock now
K than hitherto. This may mean any
!, thing or nothing, and | am merely.
, passing my information along for.
what it Is worth. The plain English
. of 1t is that until recent days one.
h had to shop around bit for Belmont.
q and perhaps fill out hundred-share,
q order from several smaller purchases.
!. Now however, bids bring forth stock
more readily. l have always had
warm spot In my heart for Belmont.
both as mine and as a corporation.
both having been handled in steady
and consistent manner | have still.
/. as a matter of fact, and it would take
Z good deal more than a few shares
!, of available stock to shake my con-
I. fidence in the proposition 1t must
be remembered that a good deal of
i Belmont is held by people who bought
ii for a dollar or two. These people
have watched the steady climb of the
shares up to $40, have received a few
/, dividends to pay carrying charges
and can hardly be blamed il they
IN take an opportunity to realize a hand
IN. some profit on at least a part Of
on their holdings. An easing off of prices
te after long rise is a pretty gooC
". stock loosener anyway Without go
m. ing into tiresome statistics, which ar,
he very readily available, have alway
figured that Belmont is at least on
mine where one may add up all tn
resources in sight, take on Curl
Ut Rule and any other price litter tina
may be handy. and still be withi
the actual resources of the property
OF There is probably only one Belmon
lst vein in the mine, but the bottom {
ic- that one has not yet been reached
uit There is every reason to believe ths
raj the other veins viii add largly to n
mines wealth.