The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-08-31

this Is particularly true in regard to
mining developments and mining In
vestments, says f. H. Schiek, the well
known broker of Los Angeles in tie
Financial News.
The United Verde is a notable Illus
tration. This property was purchased
by Senator Clark in 1888 for $4,000
after the former owners had become
discouraged with developments.
Senator Clark endeavored to inter
est the public In the stock of his COM
pany but failed. They had jumped
al conclusions and decided that as the
former owners had been unsuccessful
In developing paying mine, the prop
erty was Of no value-and with few
exceptions they would not invest
the stock.
deN elopment of the property on his
own account, with the result that he
has received over $37,000,000 in diyi-
bends to date. And the few who were
h#EN Viipubii w dNSili themselves vi tfN
opportunity to invest in the stock !. I
TIT low price have prohted equally In
proportion to the amount of their in
vestment
An analogy might be drawn between
this and the apparent indifference of
large portion of the investing public
10 the important developments In the
Oatman district and the present oppor-
trinity to secure stock in actively de-
vcloping Oatman companies some of
which have reached the ore, at only
q few cents a share
1t would appear as II the depressed
market on the Oatman issues, which -
purely market condition and not due
to any unfayorable physical mine or
development conditions in the district,
has caused investors TO jump to the
conclusion, as In the case of United
Verde that investment In Oatman
stocks would not prove profitable. And,
as with the United Verde, their con-
illusions will prove unfounded and u
source OF lOSS
The earlier history of the Oatman
district can furnish am illustration
similar to that of the United Verde. in
tie Jerome district, now one of the big
copper producing districts of the eoun-
try as oatman will probably be one of
the big gold producing districts.
This Illustration is the history Of
the Tom Reed Gold Mines company.
The vicissitudes attending the earl
cateer of the Blue Ridge, now the Tom
Reed, are we'll known This propertt
was worked under bond by at least tw, :
clnerent parties. the work abandoned !
and the property condemned as WORTH
less. Then the Blue Ridge Mining
was organized, expended
good many thousand dollars in devel-
OF ment work, equipment and the con.
stiuction of a mill, and failed It's
was sold by the sheriff TO
$4,000. the same amount paid by Sem
ator Clark for the United Verde. The
Tom Reed Gold Mines company was A
organized and took over the Blue Il
Ridge property and Tom Reed stock
was sold at 10 cents per share.
Even at this low price it looked like
hazardous speculation and many \
people would not buy But this prom
'rty, condemned as worthless. has pro
luced approximately $6,0OOOOO in gold 7
Q date and the company has paid divi- 9
lends amounting to $2.75 per share q
qual to 1850 per cent on the stock at ),
0 cents per share.
Another illustration Is that of the u
Shited Eastern. This property, too. T.
fas condemned as worthless and In ),
ne early days of the company's his
cry the stock was sold as low as &c
er share. In fact, it is reported that .
ne operators traded stock for grocer :,
- and powder, Today the United Eas-
en-, according to the best information J,
has between $12, 900, 900 and :
io,o0O,0OO in ore blocked out and is ..
= sidered one of the greatest GOLD =,
lines on this continent.
Stlil another illustration Is the prop
'ty OF the German American Mining =,
now part of the Aotman- ~
'oneer Los Angeles men financed -
le German American and spent man,
iousands of dollars in equipment and
'Veiopment work, finally abandoning
Ie property as worthless. Today the y,
etman- Pioneer is estimated to have
stween $1,0O0.000 and $3.50 900 worth
ore In sight and bids fair to be. -
me a great and rich mine. o
End 1t is probable that some of those
no refused to invest in the stock of '"
e Tom Reed and United Eastern
hen 1t was selling so low, have in ~
sted since at ten, twenty and thirty
nes the original low price. -
What took place in regard to Tom ~
led and United Eastern Is taking
ace today in regard to other OatInan ="
mpanies. And the indifference OF in 20
stors to the present opportunities is
more remarkable In view of the W.
u that developments in the district
We exceeded expectations.
It is doubtful IL any gold mining dis DO
ct In the history of the country has TAI
messed as many disclosures of ore