The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-06-05

ton that yields profitable ore If i
does not yield orc froinwhich profit
can be won. then it is fit to he the last.
resting place of adead mule Nothine
Is so worthless as mine that cannot
be made profitable. On the other
hand,no form of property is so re-
numerative as generous nine But
all profitable mines are not equally
valuable; more money has been lost
by buying rich mines at fancy prices
than In purchasing poor ones for small
s,iins. Thus we begin to discriminate;
discrimination Is the essence of mine
valuation.
Difficulties Of Valuation
The process of valuation is COM
tested, weighed, and bought finland.
1t is true that the method Of sampling
lode yields an average from which
the bulk of ore is judged. but the
cheese faster that grocer places at
your disposal gives a sample incom-
parably more accurate than the chips
of ore that you mol Iaboriolsly from
a hard vein underground. Moreover,
the grocer has his scales, by which, in
your presence, he weighs the cheese.
He dare not use false scales and he
dare not give you short weight. for
other scales are available whereby.
to check any such dishonesty. On the
other hand, themasses of ore in the
mine cannot be weighed save by ella
borate inference: they are not visible
in their entirety except by exercise of
the constructive imagination; their
tonnage is inferred by correlation of
facts. When you are in forest you
judge the extent OF it by the direction
in which the light penetrates. by the
vegetation underfoot, by the variation
Of tree growth and by standing on
point of vantage affording an extensive
out look. In most human affairs it Is
important to have the right stand
point. When you are in grocer's
store, buying cheese, you stand near
the scales That is an advantageous
standpoint.
The purchase of groceries involves
no complexities: the purchase Of u
mine does 1t will make a difference
whether you are appraising the minc
for a rich capitalist willing to take
chances or company with elender re-
sources; 1t will make a difference
whether your examination of the mine
not suggest that your finding Of the
facts in the case will vary according
to the status of your client. as scicn-
tiflc men you have only to deal with
bound to he honorable. Let me put 1t
to you this way: If man were to ask
you to look at a horse that he thinks
Of buying: you would examine the
animal looking for hlcrnishes. know
ing well that the owner had cmphasi2-
ed his good points; it is for you to
ascertain if there be any hidden req
son for the sale. IF. on the other hand.
a man having horse to sell asks you
in his interest to describe the animal
to a possible purchaser you state the
good points, referring to any blem-
ishes only in so far as may be neces-
sary to enable the putative buyer to
protect himself. For obvious reasons
you will find It more pleasant to oct
for tho buyer. and. for equally obvious
reasons. the seller of horse or Of a
mine is prone tn engaging the services
of agents whose moral codes less
severe than yours. Nine sales are not
based on the rules Of the Sunday
school, any more than horse deals.
As the poet has said.
THE ways of man with maid be
strange, yet simple and tame
To the ways of a man with mine
when buying or selling that same"
The value of mine Is based upon
its present and prospective capacity
to yield dividends. Those dividends