The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1922-12-09
INDICATING
HOLDS BACK MINING

largest employer Of labor I'm the UNI
ted States II not the world. Nevada
mine owner and New York farmer By
proxy, was q recent Reno guest Of
honor. Not only did he meet and
shake hands with 200 citizens. says
the Gazette, but in an address to one
Of the largest gatherings that ever
assembled in the Chamber Of Com
merce, he made 1t plain that he
pinned his faith in Nevada mining OPP
erations and believed this State pre-
sented great opportunities for de-
velopment In the mining line.
TOO MUCH INDICATING
The great business man and inan-
cier sounded q keynote Of warning
that keynote was for truth concern
ing mining operations.
Mining, when carried on scientif-
ically is a legitimate business and
there is no more reason why mining
stocks should not be regarded as good
assets as bank stocks or stocks of any
big corporations, but the truth IL
they are not" he said. When some
big financier In the East dies and
mining stocks are found in his pa
pers, there is a general expression Of
surprise, that he should have made
investments Of that kind. The reason
for this is that there is too much
wild-catting in mining. That Is what
has hurt the industry and hurt your
State. Laws should be enacted which
should be enacted which would make
1t impossible to wildcat. Truth in
mining is what is needed. There IL
plenty of capital in the East looking
for investment. and when mining II
placed upon the high business plane
1t should be, that capital will be avail
able for investment. At present the
unfortunate condition exists that min
ing Is not regarded as staple and cap
ital is not available for 1t as 1t should
be.
THE TRUTH ALWAYS FIRST
81 am making this statement as a
friend of Nevada and a friend of min
ing. / have interests here that / am
proud of and pleased with, and I
have faith in Nevada and its mines,
but, when q man has mining inter-
ests to sell, the truth only should be
told, and II the claim Is but a mere
prospect and the opportunity but
looks good, he should frankly state
that fact and capital will be more
ready to invest than II promised q
sure thing"
The address given by the great
steel magnate was democratic in
principle. He made 1t plain that he
liked to meet, touch elbows and talk
with the people. He said he espec-
tally liked the Western people. for
they were emblems of the true spirit
of democracy. In other words, there
was no sham in the West. People
here were what they were-open.
friendly and deserving Of the title of
hospitality" which they had won.
NO LIMIT AMERICAN INDUSTRY
Touching upon his own great bust
ness Mr. Schwah said.
There is no limit to which Amer
lean industry a go. The steel bust
ness leads all other industries in the
United States. The business of the
Bethlehem Steel Company amounts
to $600.000.e00 a year and it re-
quires 100000 tons Of coal to turn
the wheels Of industry for that great
business. Great business must be
done in q great way and since that
business has grown and thrived ]
have turned much of its operations
over to young men. and they are
making a success. l tell you 1t is the
young men who are doing things and
we have found 1t out in the Bethle-
hem Steel plants"
Dealing with labor. Mr.. Schwab ex-
planned that his plan was to have the
people in his employ have their own
meetings and councils. talk things
over freely. voice any grievances they
might have. and he had found the
plan worked, for, In his forty years
of business, he said. never once had
there been a strike in any Of his fac
tories.
He felt, he said, that this was be-
cause he met his men face to face,
talked over with them their prob
lens and had tried to make condi-
tons comfortable. wages satisfactory
and working conditions right.