The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-06-01
Oatman, Arizona Miners Buy Stock
Instead of Booze Gambling Unknown
[. A. Palmer in Engineering md Mining

While 1t is no doubt proper TO des-
ignate Oatman as a boom camp, 1t Is
different from other boom camps oi
recent years. Strikes have been sen
sational from the standpoint of guam
tity rather than quality and from
the start it has been recognized as nc
poor mans camp. This has brought
home the fact that while the district
has great possibilities, ii Is going to
take money to realize them Every
where there Is spirit of optimism
and enthusiasm, but the hysteria that
accompanies the possibility of getting
rich over night Is lacking.
All transportation of passengers Is
by automobiles, and motor trucks are
used for all the freight except that
destined to be hauled over the steep
est roads, in which case string teams
of tea, twelve and even more horses
or mules are used. Freight rates are
rather high-$12 to SIS a ton from
tiles of life are very reasonable in COM
parison with other districts similarity
situated. With the exception of GER
tain commodities, particularly hard to
get, such, for instance, as fresh milk,
it is probably fair estimate to say
that ordinary living expenses are not
more than 20 to rs per cent higher
than in the Coast cities Rooms can
be had for dollar day and upward,
and good meal cen be bought for
from SO to rs cents,
A stock exchange has been formed
recently with a membership of At, of
whom 1t is expected that II or Is will
engage in active trading. The first
session was held April 10 and 2S,100
of 3Sc per share. This move has been
looked at askance by many who have
seen the baneful effects of stock ma
nipulation In some Of the Nevada
camps 1t is hardly likely, however,
that 1t will have a serious effect on
legitimate operations in Oatman For
one thing the fact that actual value
of the mines will depend upon syste-
matte development work and conser-
vative management rather than a
chance lucky strike, win limit specu-
lation In the stock. Another reason is
that Arizona has and enforces a rigid
blue-sky law. A repetition of the Sui
Ivan Trust Co or Nat C. Goodwin &
Co. is not possible in Arizona.
Arizona Laws Check Validating.
Many will recall the incident of a
certain Nevada copper" whose treas
uary stock sold up to about a dollar a
share, under the manipulation of a
famous operator, only 20 per cent of
which found its way into the treasu-
ry. This could not occur in Arizona,
as the law specifies that a certain per-
centage (S5, | belieye) of the money
derived from the sale of treasury
stock must actually be paid into the
treasury. Further, 1t Is provided that
promotion stock must be pooled and
not. thrown on the market until the
company has been properly financed,
that the money paid for the financing
stages of a mining venture actually
goes to the development of the mine
and not to enrich some promoter
Operating under these restrictions
there has been more money paid into
the treasures of the various mines
than in any other camp of recent years
at the same period in it's history. 1t Is
also true that development and opera
ton has been on a more systematic
scale and under more practical mining
men than has been the general rule.
AS a matter of uniformity the mama
gers recently got together and adopted
the following scale of wages, which
was accepted by the miners. There is
a union in the camp, but membership
Is not compulsory and the district is
open. Following is the scale that went
into effect Apr. 16:
Hand miners ..,............,................ $500
Hand miners in shaft .................. $3.50
Machine miners ............................. $3.50
Machine miners in shaft ............. $500
Timbermen $3.50
Muekers, trammers nippers and
top men NEUTRALITY-SUSPICIOUS.. $50
Millmen ACKNOWLEDGEMENT. $4.00-$4. SO
Minimum for unclassified labor. $3.50
Power for operating is one of the
problems of the district. There is no
hydro electric power available and
only one commercial power company
the Desert Light and Power Co. of
Kingman. Consequently most of the
companies have installed their own
gasoline plants. Power from either
source costs about SIS a horse power ,
a month.
Costs of mining and milling should
be fairly uniform throughout the dis
trict. Total costs at the Tom Reed |
are in excess of IS a ton, but it Is the |
general opinion that this is too high. |
One engineer has submitted tentative
costs on cyaniding at maximum OF |
$3.50 per ton under normal conditions
and 1t is generally considered that on
a basis of moderate production, total
costs should not exceed SIS per ton.