The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-10-01

of mining property. A large number
of mines are changing hands. and more
mines could be sold If 1t were not for
the lack Of craftsmanship on the part
of the owner.
The market Is filled with bona fide
purchasers. The wildcatter Is almost
extinct. The watchful eye Of Uncle
Sam and the cutting criticism of the
press have ruined his game The pros
pective buyer now Is the successful op-
orator. who is looking for mine to
work, not for a project to float
Purchasers Of mining property may
be divided into several classes U)
Large exploration and ore purchasing
companies: CD successful mining
companies whose ore bodies arc fully
determined; (O manufacturers who
need certain ores for raw material; (4)
mining men who have made money
and want to make more; (5) promot-
ers who have satisfied group Of eli
ents; (6) individuals and associations
who have devised special processes.
Each class has Its own needs and
wants. The careful mine salesman
will consider these wants before he
offers his property for SALE
Big Business.
The first class constitutes those
groups of large capitalists who are or
ganized for big business. They are
looking for large properties, they have
millions of dollars to spend in mining
interest them one must show an al
most unlimited possibility Of ore that
can be mined economically on large
scale. They will prospect and prove
a territory, provided the territory
shows unusual signs of successful de-
velopment. Men handling millions
can not afford to consider hundred
dollar enterprises.
Mining Companies and Manufacturers
The second class constitutes mining
companies that have made money for
their stockholders and are thoroughly
organized. They have prudently put a
percentage Of their earnings into de-
velopment work. In order to supple
ment their fast disappearing ore bod
les, they are in the market for new
mines. They are, of course, prejudiced
in their choice and prefer mine sim
liar to the one they are working. II
they are mining gold, they are looking
they are looking for new dredging
ground. If they are mining zinc, they
have their organization ready to han.
die zinc mines.
Manufacturing concerns are In min
ing only to insure to themselves an orr
that they, as manufacturers, need
They are not in the mining but in thu
manufacturing business. There arr
chemical works that need ores in thu
manufacture Of chemicals. and ther'
are electrical concerns that need mice
in the manufacture of electrical in
struments.
Mining Men.
I The fourth class consists Of those
individuals who have made money II
mining through their own efforts. The!
have bought a property then develop
ed and sold it, or they may have beer
fortunate In leasing. These men arr
open for any kind Of mining venture
but of course prefer property sim
liar to the one in which they made
their money.
Promoters.
There are men who have had thu
mining and business training and have
the acquaintance necessary to make
them first class promoters. These
make up the fifth class. Many of then
have already been successful In min
ing. Some have been interested ir
kindred branches Of business. Mos
of these men are willing and ready t.
promote promising prospect or mine
They must first be convinced that the
venture has a good chance to succeed
and the price and terms must be reas'
enable. Very often such men have
funds of their own to invest and cal
on their friend. for additional help
They must treat their friends fairly
or soon they will be without friends
The day Of selling mining stocks witt
flamboyant advertisements and mis-
leading literature Is past.
Inventors.
Today is a great day for new pro
cesses. The inventors and hackers o
these processes often have to secur'
special ore to prove and develop
their methods. They are therefore Of
ten in the market for a mine capabl
of producing such an ore. They max
up the sixth class.
Selling 10 Legitimate.
There are many people who hav
mines for sale and are prompted b,
the most honest and upright motives
There Is a notion in the mind Of tn
general public that man wishes t
sell a mine only when he finds out tina
there Is nothing in It, This notion
unfair. A man il just as honest II
selling mine, II he thinks he ca
make profit by so doing, as rea
estate man Is in selling farm. 1
both cases an honest man will sc
forth the facts concerning the prop