Weekly journal-miner., 1917-06-13
MINERS POCKETS ARE AFFECTED
 BY TROUBLE
MOST ALL OF THEM IN VISITORS AND AGITA- TON IS AS BAD FOR THEM AS IT IS FOR THE COMPANIES.

| Fer producers or tnc State are con-
 fronting and combating more or less unrest attendant upon the work of ac itators in their districts and the out come IS yet uncertain with regards to
 maintenance of output of the metal
 at the high figure which patriotism
 and the needs of the government and its Allies dictate the necessity of. there is no abatement Of new dcvel-
 cpment work in all of the districts
 nor in the attractiveness which these
 extend to investors.
 It is notable fact in this connec-
 ion that there is at the present time
 rore money engaged in the develop
 ment of new properties in Arizona
 that has come direct from the pockets
 of miners than in any previous period
 of the industry. It Is safe to say that two-thirds of the men employed in operating the producing mines of i Arizona are the possessors of more
 or less shares in the properties of de- Neloping concerns. Those invest
 monts run from a matter of $25 up to St 900 and more. The 5000 figure is
 mentioned because it happens to be the amount that one Bisbec miner
 drew from his savings and put in a Single Jerome company which is now developing its property. In this same company other Risbee miners are said to have upwards of Sl50,O00. In other
 jerome companies 1t is known that there is more than S250000 distribut- cd by Bisbec miners. The latter also
 have investments in Globe, Miami, Ray and Superior developing proper-' ties, as well as investment in the
 shares of several Warren district properties which are under develop- ment. On the whole it IS a conservat- i've guess that they have nearer one
 million dollars than half million
 dollars invested at the immediate time in mining development work of the State, all entirely aside from the investments they arc carrying in the
 properties of producing companies and from which they are drawing dividends.
 The existence of this situation com rels the inference that there arc many rIon in Arizona, workingmen, who havc a positive manner of interest, il cm the financial viewpoint in the restoration Of general conditions of activity and undisturbed inflow of r,oney to desirable new development ir the State. The Bisbee district, while probably the largest investor, because it is the biggest camp in the State, is no exception to the rule in roint of investment by its miners. The miners of every other district lave been going just as strong pro- rortionately.
 The strike at Jerome put all of iis developing companies out of com mission, with exception of Arkansas & Arizona.
 The majority have sustained damage amounting from several hundred up 10 a number of thousands of dollars mainly through water that has come in upon them. Such loss is sustained. whether in time or money or both, comes back to the shareholders.
 The possibility of Statewide trouble is in consequence of the general in vestment which miners have made in stocks presenting quite as big a prob lem to them; if not bigger, propor- tionatcly, as that which producing mine owners are confronting. This situation without doubt is entering materially into the greater attitude of conservatism that has developed throughout the State during the last week and that has been reflected to strong extent in press comment. Both | his patriotism and his investment ap- | peal to the miner under the existing | as against the appeal of the agitator, who is advancing no call for increase in wages that not being an issue, but advancing a call for the closed shop, the contract and lhe check-off system, about both of which latter features organized labor in the State is openly and bitterly divided.
 Meantime the conservative miner V ith money invested in both produc- ing and developing mines knows that the country needs the output of the mines as a war necessity and that there is need oi bringing in new mines to increase output as speedily as pos sible because of government require lnents or possible requirements. On the personal side he is anxious to get as much production from operating mines while metal is high as he can, for that means more returns on shares while there is even more incentive for his wish to sec new pro- tucers come in that he may have have share investment in while the market is high. Another important Iom coming up along this line of is the shrinkage in share alues in the market which would at end any general disturbance of pro-