The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-07-17
MINING PROMOTIONS
AND INVESTING PUBLIC
POINTED SUGGESTIONS FROM
STANDPOINT OF THE
BUYER AND SELLER.

The making Vi lHNtSthich'' al 1880
ing projects is a matter deserving OF
very much more thought and STUDY
than it usually receives at the hands
of the general public.
1t is almost certain that this year
will see very marked increase in &C
tivity in mining and exploration
There is every reason to be optimis-
tic for the future Many investors
will be attracted by the promise OF
wealth to be gained and we may rea-
sonaby expect that the development
of our mineral resources will JUSTIFY
large expenditure of capital.
In the case of new properties stili IN
the prospect stage, and on which only
a limited quantity Of work has been
done. those who provide the funds for
development take speculative chance
with their money and they should
have a chance of making equally large
nrofts in case the venture proves
successful one
Get Run for Money.
ut is particularly desirable, owing to
the present situation regarding gold
and silver. that development work be
speeded up, and those who WISH 70
obtain the cooperation and assistance
of the general public and the small IN
weston must see that they are given a
fair show and a run for their money.
They must receive straight, honest
treatment and be given all the known
facts without establishment.
If we would foster investment In
mining enterprises we must see that
every possible thing Is done to inform
the investor of the risks as well as the
gains. There are many willing to FISK
their money If they are assured OF
reliable information and square deal
Promoters should bear in mind thai
they only scare away investors wher
they describe prospects as developed
mines, and when they endeavor tt
hide vital matters under mass o.
glittering generalities. There will bt
more money subscribed for mining
and development when there Is more
Very few promoters are deliberatel!
dishonest but they are often ignoran
OF the basic principles of mining, o
the requirements for successful deVel
opment and exploitation of ore bodies
of the science of metallurgy, and. II
fact, of every detail of the tWil
sciences of ore production and ore re
duction Instead of recognizing thei
own limitations, they persona ~ as
sumo knowledge of mining and met
a,mrgy, of which they do not posses
the barest rudiments, and they t'o
everyone who trusts them.
What Government Should Do.
1t is customary to suggest as
remedy for all evils that the govern
ment do something" We believe tina
the government might do some goo
by insisting on more explicit state
ments from promoters, such as for IN
stance, the amount that viii be use
for reorganization and selling eS
penses, promotion stock, etc, Dut
do not believe that the goverhme'
can, at a reasonable expense, obtal
all the desired information. To
this would mean the creation of sta
of efficient engineers and metallu'
gists with others, to check up an
confirm all the statements in ever
prospectus and this would not be pos
sible except at an expense that wou
be prohibitive. The best protectlc
the investor can obtain is to tho
oughly satisfy himself of the honest
integrity and efficiency of the pre-
moter and his staff
It is very general rule that !
professional man is a good promote
and mining engineers are usually vel
pronounced examples of this rule. A
ideal combination. however, is an
fliation between clean and comp
tent financial and promotion organ
zation and capable and experience
engineering staff. Such combination
do exist and are uniformly successf'
but they are seldom at the service
the small investor, and compar
with the other condition-that
which the promoter presents to 4
clients what he wants them to b
lieve. not what he actually knows
they are scarce indeed,
Educate Public.
In the past the investors have be
given. at least the idea that they HI
a real mine, already made and IN
condition to bring forth dividends
the wave of some magic wand
know, and the investor must be ed
Gated to the fact, that developed min
which have ore ready for productic
are not for sale at such price as G.
he procured through the channels
which the small investor has access
On the other hand, there are ma
opportunities for securing partly q
veloped projects at ridiculously IL
figures, but these chances are
known to the man on the outside a
have to be sought for.
Now, conceding a well located. b
practically undeveloped property s.
uated in good camp; conceding, Il
that the capital raised by honest or