The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-07-06
MAKING A MINE REQUIRES MUCH
TIME AND MONEY.

Within few months, In fact since
the first of the year, stock In the
United Verde Extension Mining com
pany, of Arizona, has advanced from
so cents per share to $50. Compare
lively few people ever heard of this
company until the sensational strike
which sent the stock skyward, and
this Is now about the limit Of inform
alton with the exception that 1t Is
contiguous to the famous United
Verde mine owned by Senator Clark
Of Montana. The rapid rise of the
stock was due to striking large
body of copper ore that averaged TN
per cent but those who are inclined
to envy the owners of the stock on
their good fortune should consider the
difficulties overcome before fortunes
smile was won. The company was
organized In 1894, twenty-five years
ago, and 1t met with many reverses
during the intervening years. The
early work on the claims proved so
disappointing that the promoter COM
mitted suicide. Later the Red Rock
mine was secured, but Its develop
ment was equally unsuccessful and 1t
was relinquished. In 1902 the United
Verde Extension Gold, Silver & Cop
per Mining company was reorganized
into the company of the present name,
and In 1912 another reorganization
took place. According to the Boston
News Bureau, the high price of $40
per share win just pay the principal
to a stakeholder who has held on for
a period of sixteen years. without con-
sidering interest In 1913 the mine
had about one mile of underground
openings and the showing Is describ-
ed as "a little ore of per cent cop
per- ounce silver and SO gold on the
SOO-foot level"
The career of the United Verde Elk
tension affords food for reflection
from several viewpoints. The most
impressive point is that It requires
much time and money to open a mine,
backed by patient and intelligent OPP
tlmism that is guided and supported
by tangible evidence of a mineral de-
post. without this sort of optimism
the United Verde Extension would
have been abandoned years ago. Ev-
identity the property had all the fav-
orable characteristics Of its famous
knew no such word as fail Doubtless
hundreds of stockholders, discourage
I'd after paying assessments without
getting returns or perhaps through |
imaginary grievances against the
dropped out, and who
now realize that all they needed was
he necessary staying qualities to
make fortune.
Sometimes a mine is found at the
yrass roots and pays for its own de-
'elopment, but those cases are rare,
rhe man who invests In a mining de-
'elopment company should satisfy
himself first that the property has
merit, that there is a reasonable
nance to disclose valuable ore body, l.
nd that the company is controlled by &
men who will develop the property IN {
and economically, and that t
he money paid in through assessment s
r the sale of treasury stock is used y
or development purposes. Having
atisfled himself on these points, the Il
lvestor should insist upon being kept "
lformed on the progress of the work q
nd the results accomplished at the Y
arlous stages, and then he should III
lake up his mind to stay with it until n
he efforts Of the company have been t
ewarded with success, or until all s
easonable chances of success are ex- d
austed This is the spirit that opens e