The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-01-31

"
services NJ the following staff.
Capt. J 7 Matson. OF Clarksdnln,
Arizona. to ktudy coal and
coal mining.
Mr.. l.. s Morrison OF Redlands. cal
ifOrnia. to survey the literature Of
the economic geology Of h statc
n obtain In particular the salient
facts about the metal deposits.
Mr.. 7. $. Muir. to take charge of
an office at Santa Re In which to
compile and digest statistics and con
duct the necessary correspondence.
our attitude may be expressed IN
the phrasc TO see what ~ In the
state believing that 1t was Of some
Importance to hav" as clear IN un-
d-erstanning A. possible, not only u
the technical aspects Of the mining
Industry but also OF the physical.
ethnographic and historical features
which determine its economic setting
II In well TO point ont that while the
members Of the party are not insr-
manent residents Of the stnte. they
are not altogether strangers to d.
and nave lived many years In the
region of which ~ BE- q part We
are therefore able TO compare the
siate with IT, ncighbors and draw
certain conclusions based upon me
Developments going on AROUND H. II
viii be pointed ont that some ~ these
Developments such rs the prospects Of
the Oh 4ndustry. Che manufacture OF
iron, ana the Use 10 water power Of
the Colorado river. have no small
bearing on he development; Of New
Mexico. particularly Of It's coal re-
sources.
venture TO put down some upin-
ons that are not susceptible Of oN-
act proof but which have been
gained from the experience Of 30
years in the mining business.
The Returns from Mining.
The assertions made, sometimes
that the mines are excessively
profitable and sometimes that they
are not profitable at all, are equally
Incorrect. Mining Is a profitable
business. but only 10 an average ,N-
tent. probably a. profitable as other
Industries OF similar scale and inn
portsnce. II IL true that occasionally
large fortunes are quickly made 10
mining hy the discovery ct b%unHns.tS,
that occasionally such bonauzas
dominate a whole district 80 hat the
local people are impressed by the
spectacle OF fabulous wealth pour
ing into the pockets OF "a favored few
but n the person 80 impressed wottd
exercise their sense ~ proportion
taxi "a survey Of mining enterprises
AnfNAkNNMN AtA' fNNNANN NA NINhNN aN
out tne world. they would per, eve
that the local bonanza H. onlS "nc
example out o( thousands. rat IT.
production and its prouts have little
effect on the total. and that its sue
cess Is needed Ia renew hopes m
other fields where courage h. fiaggius
from disappointment. ON the Other
hand. the pessimism eugsndered by
the repeated losses OF certain dis
t~ricts, who're perhaps there are show
ings sufficient 80 temp exploration
but not ore cnough 10 pay inScs'
ment. acquires an exaggerated local
influence. People Judge the rest -
the world by their own surroundings
aud when they have computed that
i've dollars have been spout Tor one
returned from all the mines they
know about they viii argue that
that h the general experience OF the
industry. without inquiring a. 20 the
number Of mines that they do not
know about. The fa,t usually iu that
they are Compuring he experience OF
a few hundred people with the ga
perience Of millions. II they would
do this they would perceive hat 20
small a group may be t.tally IN
successful n yet have only an in
nnitcsimal eject On the grand aver.
age,
! 20 arrive NJ the grand average ~
all mining operations h. admittedly
diniCult. principally FOR two rensonH.
first. because complete statistics Tor
normal conditions ar. not to hc had
second because many OF the largest
mining concerns. likc the 1. s. steel
corporation. OF tto takc an ann
nearer Ncw McNiCu1 the Colorado
Furi a Iron company. are also
manufacturing concerns. ana Il IN hot
always possible TO say whrrc one tu-
durtry begtns ~ -attother en,i- Mr.
W. u. ingalls,, however CMining and
Metallurgy. October igs1) has made
the attempt to obtain an approximate
idea based pon a long familiarity
with the statistics of the mining IN.
dustry gained while editor OF the
Engineering and Mining Journsi: to
which he adds an analysis OF the re-
ports to the Bureau uf Internal
Revenue, The last may be quic ms
leaGing because they nave been made
thus far generally FOR tho purposes
Of computing the excess profits ,aN
and they pertain only 1 @ tue
abnormal industrial conditions pro.
duccd by the MI. ingalls, tric-
To draw u reasonable coucturiOu a-
to the percentage % profit realized
under normal conditions: and lin "
II 10 De som" IS pet cent OF the gross
value Of the product. Average net
proceeds In lpll-iJ, were
therefore something IKE ~.
Naaa ,000 600 probably" This figure
n a net excess OF receipts over eX-
p~enditurcs without allowance Tor H."
amortization OF invested capital for
enterprises Of short or limited life.
To show how little cucc the Figures
OF "a single mine. or "a single district
even though quite important. are
lkely to have on the average Tor tho
nation at large 1 quote further from
Mr.. ingalls,. The net Income Of
. AIS corporations engaged In the sN.
traction OF minerals In 1915. ~ re-
ported to the Bureau OF Internal
Revenue, was tT9s.sS3.Sfs Obvious
~ this does not include tho net in
come of individuals engaged IN tho
extraction Of minerals. nor does Il
include the net income Of the metal
lurgical industry Commercially and
technically we group the mining aud
metallurgical Industry up TO the pro-
duction Of copper In bars, cakes and
iugots. cad In piss; slnc In slabs.
and iron in PIGS; beyond that line tile
further treatment Of the metals ~