Year: 1879

ont; it probably viii. It may turn
out well for the stockholders, but to
say the leas' the chances are even
that the mine will fail either in work
ing or in ore, and the stock at least
go 3 begging.


"CoGnfenance is given. to this
kind of business by q very few sue


cessful companies, such IS the Little
Pittsburg, at Leaiville, which has
paid in q few months in dividends
nine hundred thousand dollars and


which, it is expected, viii pay a div
idend of one hundred and fifty thous-
and dollars for the month Of Septem-
Der, If this holds out, as it probably
will for some time st least, from the
fact that one miIlien dollars worth
ore has been blocked ont so it is in
sight, the stock ought to give q good
return. But there is just one Little
Pittsburg in Colorado and out of
scores of mines that have stock up
on the market, less than half doz-
en-, according 70 the Mining jour
nal, are dividend paying. By the
way, | say there is but one Little
Pittsburg in Colorado; the fact is
that there are several Richmonds in
the field and / would advise people
to look out if they buy in Little
Pittsburg 70 see 10 it that she one
they buy in is not in Boulder eoun.
ty or some other locality ontside of
LeadVilIe. A mine sells better in
the East Just now if il is called Little
Pittsburg.


Taking all things into cOnsiders-
ton, have the mines Of Colorado
been a source of wealth to the eoun-
try? The press in the State hss been
telling us all along that twenty-five
millions in bullion was to come out
of the mines this year. Official re-
turns for the first six months give,
however, only FIVE millions, which
will give ten OF easy twelve millions
8 year.


''Suppose the one hundred thous-
and prOspectors had worked as. hard
in raising wheat IN the Red River
country as they have on top of the
barren mountains, add what they
would have made to the capital that
has been expended without the slight
est hope of any return, and I believe
it would be found that every dollar
in bullion that has been taken out,
is offset by two putinto the mines.
Is the country, as . whole, as yet
any better of for having this vast
mineral belt2 Would the nation be
enriched by MipnesOta's wheat field
if it toek forty millions2 Why can
not mining be carried on in Just as
legitimate 3 way and give just as
sGre returns as farmingI Simply be-
cause it is uncertain; it is a game
of chance, hence it gives rise tospec-
ulation and vast ventures.


''Five men in s hundred may by
hook and by crook make something
out of mining, it would be q poor
farming country where i've men in
a hundred failed to make anything.
There can be no question but that
labor and small capital are infinitely
better of in farming than in mining.
Eighty acres of good wheat, land, is
3 sure BONANZA; you do rot have to
form stock company of twenty
millions TO develop it; you do not
have to expose yourself on the noun
tain tops or cOnsign yourself to per-
petual darkness within their rocky
walls after an uncertainty; you have
a sure thing, although there may
not be immediate millions in it.


'sThere are no immediate millions
in legitimate mining; the ore has to
be taken.out and reduced slowly, as
the crops are taken out one by 6Re
from the farm; but if you are going
to speculate, why not GO to gsmb+
ling at once, where the chances of
success are much better"