The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-12-07
VALUE OF PAYROLLS
TO STATE AND NATION
ARE OF FAR MORE IMPORTANCE
THAN THE DIVIDEND
PAYMENTS.

In endeavoring to impress upon the
people of Idaho the value and import
ance of the mining industry to the
state, The Miner has frequently re-
ferred to the large disbursements
made by mining companies for wages,
machinery, building material and sup
plies of all kinds, and to the market
the mines create for all the products
of the soil, and pointed out that In
comparison with the distribution or
cash through these channels and the
benefits derived therefrom, the divi-
dends of which we hear so much lose
their importance. On the subject of
dividends and payrolls, the Salt Lake
Mining Review says:
Dividends Of American Mines.
1.-THE announcement is made that
the metal mines of the United States
have paid over $96,000,O0O in dividends
for the seven months of the present
year and in mining and financial cir
cles feeling of joy and enthusiasm
prevails over this splendid record,
which excells any so far made in this
line since mining began to cut an i'm
portant figure in the history of this
Icountrys progress.
"Ninety-six millions is certainly
something to talk about and to brag
about and the payment of velvet in
such wonderful sums is certain
proof that great has been the addition
of imperishable wealth to the worlds
store of the metals while no doubt
can exist as to the pleasure with
which stockholders in mining and
smelling companies have participated
in these dividends.
Miner Earns the Profits.
Payment of dividends is absolute
proof of successes in mining opera :
lions, and the stakeholder is surely
entitled to this compensation for the
chances he has taken, the obligations
he has assumed and for the public
spirit he has shown in joining in with
others in the effort to transform ar
1unproductive and therefore practical
ly valueless prospect into a wealth
producer, and into a dividend paying
mine but the fact that a mining pro-
perty or mining company has
reached a dividend paying stage
should not blind one to the fact tina
the dividends paid really constitute
only one important factor or feature
in the life of the enterprise; for, Will
it is a praiseworthy fact that the min
is making good money for its owners
it must be remembered that it's oper
ation really means more to the publ
at large than it does to compan,
stockholders for history will SHOW
that for every dollar paid out in divi
dends from five to ten have been dis
bursed in wages in mine equipment
in the making of improvements and il
making it possible that dividends cal
be paid. It'll
Benefits Of Payroll.
Gas a matter of fact, the operation
of the mine and the payrolls it inau
the state, to the nation and to tn
world than is the fact that the prop
erty or company is on dividend pay
ing basis and the effects of the pay
rolls are more far-reaching than ar
results of dividend payments to tn
stockholders. The disbursements o
dividends makes happy the hearts o
fortunate stockholders, but the pay
! roll is the life blood Of commercial af
fairs and the mainstay of many bust
ness communities. -
1.-THE mining camps and Commercial
J centers of the west are progressiv
and prosperous because of the pay
: troll and this payroll so overshadow
J in Importance the payment Of divi
} dends that no comparison is permiss
able"