The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-07-24
MONEY FOR
BUYING PROSPECTS

Any amout of money is in bank in
various commercial ~centers awaiting
investment in mining enterprises. This
might be cheerful news but for the
fact that this coin of the realm is like
" to stay under lock and key for a
long time to come; or most of it, and
for the reason that the owners of this
wealth want to let it out of hook un-
der one condition only, and this is for
the purchase of big and producing
mines. In order to expedite this in
vestment the capitalistic holders of
the money in question have had many
experts out in the hills examining min
ing properties which have been placed
upon the bargain counter. Thousands
upon thousands have been expended
in examining 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 producing mine, if at all attrac-
tive, is not for sale, unless at a fabu-
lous price; and, if offered at a figure
supposed to be reasonable, it is found
to be worth much less than represent.
ed. An so the months and years roll
by, and it is only at rare intervals
that the sale of a really big and pro-
ducing mine is recorded. And the
money stays in the vaults, and is like
ly to remain there until the really big
and productive mines are exhausted.
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 a rare and rich find that will be
able to cause any excitement in min
ing circles at the present time. And
yet it is to the prospects of today that
we must look for the big and produc-
ing mines of tomorrow. The good
prospect, as a matter of fact, should
be more attractive than an old pro
Queer, and for the reason that its as
sets are intact and have not been dis
sipated by production. If it has a
million or more in ore within its en-
vironments, practically untouched or
undiminished, it certainly is worth
more thar a proposition that was once
n possession of a 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; a peculiar phase
of this condition being that. in max
ing exhaustive examination of mines
already developed, the expense incur
red would, in many instances, develop
a prospect, which could be bought at
a nominal figure, into a producer fully
as valuable as the one under inspec-
ton, and which is held at a figure a
Thousand times greater than that at
which the prospect could be purchased.
1t is a pity that investing capital
is not paying more attention to valu-
able and meritorious prospects, pros
poets which are generally held by
needy claim-holders who can develop
them only in a spasmodic manner, and
who may hold them for many years
before they can be listed as even oc-
casional producers. The hills are full
of propositions of this kind which
need only a small amount of money,
comparatively, and a few hundred feet
of intelligent and systematic develop
ment, in order that they may take
rank as regular producers and regular
dividend payers. me elaim-owner,
after years of toll and hardships, may
eventually develop his prospect into
a bonanza mine. Why should he sell
it then? He is on easy street and can
take out his "~velvet' as well as could
the capitalist who is out after just
such propositions but who is not will
ing to pay the price.
II is the development of the pros
pect, and not the sale of producing
mines, that means prosperity to this
western country, and we may look for
more activity in mining when capital
realizes the fact that, after all, more
money can be made in the acquisition
and development of the prospect than
in the purchase and operation of a
big and producing mine.-Mining Re
uiaW