The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-03-02

il not2 Mining operations of this kind
are less OF a gamble than poker and
! less OF an investment than Liberty
bonds; they represent healthy specu
lation, in which large gain may be
won at the risk OF comparatively
small loss. This is the essential fea-
ture of a sane mining venture"
Fundamentally. this is the condition
which both the capitalist and his eX
aiming engineer should keep con-
stantly in the forefront of their
thought as the search is made. Re-
Gently a very attractive proposal, in
volving the development of mine.
which was laid before a large opera
tor. but at an inopportune time, be-
cause two development plans had re-
Gently gone badly with him. Forgeful
of the percentage which both King
and Peters had experienced. this OPP
orator said: mo more development
programs for me. We viii buy mine
with ore already developed. at any
PRICE, buA We VIII nOA oN1A any AAAOAt
developments" At a moment of pique
he thus threw away the speculative
profit right at the outset
Too often the examining engineer
turns down a property which has the
making of a big mine simply from the
desire to safeguard his own reputa
ton. l heard recently of an engineer
who boosted. 81 have turned down rs
mines this year. and thus far l have
not recommended one for purchase"
This comment in its phrasing, indi-
Gated that he was of the ultra con
selvative type which will not take anv
chances Nor will his clients make
any money. Unless he was the unluck-
lest of mortals, it is hardly likely that
rs examinations would not include |
some property which might lead to the |
making of a real mine. This mental /
attitude may be congenital or it may |
be induced by cold, matter Of fact.
selfish calculation. In either case,
whatever the cause. the unhappy re
suit is the same.
The ultra conservative engineer ar
CUES that if he turns down a mining
property it is very unlikely that his
clients will follow it's future history;
If it subsequently becomes a very val
liable mine they will give only a cur
sorry attention to the fact On the
other hand, if he recommends the pur-
chase of a property which fails to ne
come a profitable mine. he fears his
equation will be clouded.
Chances Part of Venture.
The man who hesitates to accept re-
possibility finds himself in a precar-
Gus situation, and seeks safety i'm
election AS a matter of fact. he Is
wrong in not accepting the RESPONSE
,ility. 1t was precisely for this duty
hat his services were engaged lie
vas expected to see further into the
,round than his clients could, and ne
urely was not engaged simply to re-
ect any and all fish that came to his
let
One of our most careful engineers
ecently reported favorably and AID
Used the purchase of a mine. He WAS
citing for a group of wealthy men
which included several nationally
nown mining engineers. Under Oper
tion the property showed a continual
oss, and the reporting engineer was
cry blue and discouraged-sO much
o that he expressed his deep regret
0 the managing director. This man,
broad guage, experienced mining
ngineer, slapped him cheerfuuy on tie
ack and said, Forget it! We can't ,
II be right all the time"
Recently the manager of one OF the
lrge investment houses in Chicago ,
hitch deals in mining shares said to ,
lie: "Our clients do not ask for sure ,
hing every time. All they want is -,
trong possibility of winning and to he
Did in advance that their money is
ding into a prospect, not into mine. :
hut they do object when they are ,
sked to invest in a prospect at the .,
rice of a mine and on the statement
nat il is already a mine"
My own experience is directly in line .,
18th this comment The experienced y
ian or business KNOWS the chances +
nat run with new ventures not only
new mines, but in new undertakings
every kind. If he is told freely and
ankly what the relative chances are
9TH for and against him, and if he u
that the opportunities in
is favor outweigh those against him.
e will swing into line and cheerfullv =
lay the game. II