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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (Nov. 18, 1903)
THE SUMPTER MINER The Sumpter Miner Of FICIAL I'AI'EH OP IHECITVOPSUMI'TER fllUCHMim EVIBT WIDNBJIM BY J. W. CONNELU T. G. (iWVNNI:, EDITOH Wednesday, November 18, 190? Entered at ih pottoAc In Sumpur, Oregun, lor lrnml.Um ihruuh iht mill, , itcunl dm Ont Ynt ... Sl Month sunscHicriON turn AIWAV& IN ADVANCII. .If. 00 I.1J EAHTKltN IIIUWHKS VH. WEST KKN I'HOMOTEHS. Thorn Im 110 1I011I,' whatever hut that precious iiinliils mining Ih thu moHt prnlltahlo ln.liiHtry which Iiiih iivtir engaged hiimi. i endeavor, lint oven gold mining Iiiih IIh economic limits. Thorn Ih t i truth in thu remark of tint nlil time Ciillroriiimi, thiit "It Ih m it -11 pmir mint) thiit will mil Htiind extravagant expend! tllrOH lltlli flllll milUllgOIIIOUt." Ullll'HH ft property Ih remarkably rich, mill mioh Ih not thn chho with thu greatest iiiiuiiri, Imtli coiiHcrviitlvn IiiihIiichh inuthtiilH anil wIhii, experienced, lonhuiiml miiugniiiont Ih nncoHsiiry to hiiccohh. To thn Initiated IIiIh Ih ii win iiviuiiiii mini. 11 ih hIho h platitude ho often ropuiitod thiit it Ih becoming h trlllti stale, hut It Id applied horn to h liriuii'h of tho IiuhIiiohh UHiiiilly nvoilookod in AHUlliallUg tho chalices of failure or huocuhh; UHintily, tho iniportHiit or nil, tho preliminary work of promotion. It Ih generally agreed that mom, UlluroH of mining ontiirnrlm.H muxl liroinotlou money. Ouo firm in St. LouIh boasts that it Ih tho fiscal Hgent of 100 compaulefl, and Ih persistently asking for more, making oven moro alluring promises, more ridiculously false claims to tho co poratioiiH than it formerlv did tn prospective InvoHtorH; whon. two or thrtio yoaro ago, any old thing I ti tho Hhapti of 11 miniiiK Htock certlllcafo found ready mile. Thin firm gouor oUBly olforH to pay thu pontile, hut firmly domandH that it handlo tho money apprrpriated for advnrtlMlncr. jo I) printiuK uud iuuidontal oxpousos. Ilu I... 1 ...... . .." i'"i'uu m iiiiiiiiHiaKuiy 10 dorfaud tho companies. TIioho uanteru staton that aro panning Iuwh to protect ItH oltlzonsagaliiHt fraudulont minimi compauieri should ho confronted with HtatutoH from tho western Hint.. shielding itn mining companies from tho Htaud ami dollrer policy of tho promoters. All sane mou ought to know that not ouo In a hundred minim com. pun I on can Htnnd thin drain on Its treasury. Those familiar with tho Hlttiatiou coiiHidcr It prima faclo evidence that it in a poor investniout, a Hiickur play, to buy Htock In any mining company that Ih being ox- plolled by any eastern "lineal iiKunt;' knowiuK that thin agent Ih rccuirliio ho 111 itch of tho money paid in for tho treamiry ntock that there will not he enough left with which to open up tho mine; in othor won!. the profltH all go to tho promoter. In HpeaklliK of lineal iiuonls. It l hero meant to designate those rapa cious ludlvldualH who will not rink lucent of their own monov. domiimi I that the company pay tho expenses of promotion and they called, hare no permanent Intorest in Oregon. They have nothing invested and are here to reap a& much as pos sible and escape all the just burdens possible, before flying to other fields." Did you over glance through the pages of the American Economist, the organ of high protective tariff, published in New York, and merely let our eye rest for a moment on thn cartoons that deface its naffes? If you have, you will be skeptical reuardinir thin ililnmnni . i,t it i 10 1 true uovortholess; that tho reading mattor Is as silly, pointless and nil around idiotic as tho pictures. recolvo thn hla moHt ' ;0,,,l,lH,lo" Of course, thero aro 'mining uroKcrs in the east who put I llielr own good money Into prospects or mines and handlo tho sale of their ilu'h Mtfw.L.1 Tl.l ..1.1....... Huron ui milling eillerprlHtH milHt uiiiiiiiiiiu hiicccss lio charged to lack of money than to ,Ml""1(,rt "l "' making of pro- ..II ...I . . . . . fllll.llll. ltll.m.1 t9 llin ........... I.. . .1 .. ..... ..,,., .,, .,, nuiuiiii'H inoy Have Invented in. These aro tho lis. cnl ngentH from whom tho inventor Hhould buy ntoeks. Tho Miner inou- tloiiH two notable InstauceH, firms that are operating In eastern Oregon minim and are inventing money received fioin tho salo of Htocks in develtipment work and machiuory, making iiiiuoH of prospects, Leo N. Uvitt, of Mllwauko, mid Whnelor Jt Co., of New York. Most of the promoters who make their headquarters in tho West have also put tholr own money into the properties which thoy are haudllug. This is tho caso with tho two firms that lire doing the big business hero, tho Killeu, Warner, Stowart Com. puny, and Noll J. Soronsou & Com. nil other oiiuho-i coin bluml. It lu fiirthermme.a taut that IIiIh neccHHitry ' money mint bo contributed very, largely by pnopln ougtig( in other oceiipatioiiH I Iiiih mluliig, people raiding far fiom iiiluiug dlHtriclH; houee igunraut or the IiuhIiiohh and persoimlly uuiicquiilntod with IIhiho engaged in it. Hero the broker, the promoter, the tlnaiicial agent ntepn in and attninpts to llll uu urgently felt want. As short n whllo ago an three years, these fiiuotiouarioH In the money centers of the east were clamorlug for gold propnultloiiH to "Moat." Today, so numerous are the oireriugH that these middle men aro enabled to ohaugo tholr attitude mid dictate terms. Ilelug niotoly hiimau, they (lemaiid all that the other fellow will Tho Minor has often called atteu tlon to the fact that the "big" money mado in mining has invariably been derived from the work of devolonino a prospect into a mine. Tho Mining reporter treats this subject clearly and forcibly as follews: The gieatest possibilities in con. nectlou with mining investments lie in acquiring nrosnects uhloh Hi,nw evidence of good mineralization. It costs money to dovolon n niimlinr rr prospects in au effort to find a mine, but thu groat profits of mining come from havlug mado a miue, rather than in havlug purchaHed ono nlrHrlv- iimtio. Alines of known vnlun. nf mensurable oro reserves, canuot bo purchased oxcopt at a great profit to tho owners, aud somo of the bounnzas which havo been sold had at tho timo of aalo passed tho zenith of their production. Exploration work In virgin ground or In Hrlnn. ing prospects nartiallr dovelonnd. pursued with skill and Intelligence, usually is preferable to expending a fortune in acquiring a big producing gain," are infatuated with the Idea that they are buying something for Jess money than some one else paid for It; but still, if thev could be con. (vinced that this saving of a few cents now means the loss of dollars, or months of time, in the future, they would soon starve the parasites out of business. The Miner has refused dozens of their advertisements, from Seattlo to New York. Thev can't be n HU. gulsed that a newspaper man will fall to detect their character. OPENING GUN FOR MINING CONGRESS. A press dispatch from Now York of recent date, says that the oneninir for the next session of thn Amrii..n Mining Congress has been lrH iv Secretary Irwin Million from fnriioin Pennsylvania, in tho shape of a preliminary statement showing what the association expects to accomplish during tho next year. At the last meeting at Doadwod it was voted by tho deleaates to hold tho convention of thin unniniv i.. 1!)01 at Portland. Oreuon. Wlih .. vlow of commencing his campaign ' of publicity for this meeting Socretary Million drolls on what tho association has done during Its existence. Il States that tho CO'lurcss Iiiih Iipii 1. 11 important factor in directing publio attention to tho miureal iudustry of this country. He urges the miner to manlfnaf greator desire to Becuro that protec tion which his unrnrnmont olu tho farmer hi nvnnndliur m.n .!. r -.-n j.aj cuuifa mlno. In other words, thn mnn uh to enable him to secure the lamest tho Homestako. for lntnnp. relurUH and profltn Worn hU iabors. Tho same opportunity nhnnM ha puny. heu a mini rlnWn hu nun ...... ..1.. i.iui'i iuiiiih' Will - --" give; far moio thHii the property will! "I,,lu,y " H" "'"I'rlso, tho publio stand. At this time uu eastern ,H -,,,n,l'nrtlvoly safe in taking bought tho Homestako. for Instance. at tho time it was a prospect, made a far greater profit on it than could any ouo who might purchase It now, for the reason taut Its present owuorM pretty thoroughly know its valuo and would uot sell for a dollar less than tholr own estimate of its valuo; wheroas. at tho timo of Ihnlr original purchase Its value was undetermined and their principal Investment was what they expeuded in exploratory work to ascertain If they had a mine. Itroker who Iihh demoutnnited his ability to sell slock, will uot touch a proposition for a commission of less limn forty p(.r cent. If it is au unproveu proHpect they dumaud fifty and sixty por cent, aud frequently require tho company to pay for tho printed matter noooxHHi-y to adveitlso the stock. Tho policy which Iiiih Until adopted luring rectMit month of requiring tho company to advance money with which 4o iiiQjr for adverting mattor Is. lu Itself, au Illegitimate source of revenue to tho broker. So ex teulsvo aud prolltable has thin "side lino" become of late, chances with him. Ou account of the iinreaHouablo demands of eastern brokers, western promoters havo been forced to open otllces in the money I centers of thn east aud aro crowding mil the "Hiiro-thlng" men. I It will also bo noted with beuoflt to themselves by investors that the gigantic frauds have beeu perpetrated by casern operators, who aro familiar with tho wholesalo robberies worked in Wall street. The following editorial paragraph, from tho East Oregoulau, is pub. I Id liod IIH llll lIVIlllllll.l til lll..i.u... that miiiiv of ulmi ...1.., ,...1.. 11 . !,,.,,. .1 1 ., . . ' , """" i'ivjiiuito nun igiiuraut .......... .x.iiiniMe.i nieir provincialism will do in the way of ability to M.II mining ...id oil stocks, warplngthe judgment aud blunting the have made it the leading feature of ,. , ,,,, , ,,, f ; ther businesH. have almost ceaned Intelligence and henesty: their efforts to "work"tho public mid T,. .......i,..., .., ,....,. s:s:::!::!: srsst s-1 t- -'' - -."is z ,K5JS " "" '" "" fpeciai session, if ' orjieople have a weukness for n "bar The Daily Mining Accord, of De liver, has of late devoted much snace to condemning the cut-rate mining stock biokers. It publishos letters from tho cut-rators defending their business, sovoral of whloh have accused that papor of publisblnir tho ail. vertlsoments of these bench. combers of the mining world and with seeming justice thus impugns tho good faith of the Record. Tho editor replies that though the paper may publish the advertisements of such brokers, tbeso aiiuniinrnmpntu are disguised and their cut-rate price lists are rigidly barred. That is a flimsy excuse aud renders its whole campaign agaiuet the orll worthless to the good cause it champions. Tho Miner believes that the only way to counteract the undoubted evil effects 011 tho mining iudustry which thu bargaiu counter brokors are work ing, Is to iuforni the iuveatiug public as to thisovil; promulgate tho truth that money invested throuoh sunh agencies is being diverted from the de velopment funds of the various com. panics aud is in this way workius a direct injury to the stockholders, those who bought at the reduced price, as well as all others. Of afforded the minor, acccoidii.is m Mr Mahou. Ho says: "Tho mining iudustry of America needs no apolgy from those soekimr recognition for it at the hands of the government. To this, moro than to any other cause, this country can atlributo its wonderful strides and its prestigo among the nations of the earth. "It baa been the prime incentive for the building of our slant tnni. continental railways, turning a great tide of emigration tn thn n.in...i states, and In loss than half a century has added more than 14,000,000,000 of new and Imperishable wealth in gold alone to the world, sustaining governments on a sound money haul aud making possible the advancement or civilization, aud manlfoldina our moral, educational and scientific advantages." The congress is uow a regularly chartered Insltiutiou under thn lm of Colorado. The latest featum hlnh the Hoard of Directors have seen Ht to approve ia the formulating nf plans which call for the erection of ' a perroaueut home for the congress, to do Known as the American .Minim uougrcss Museum. In this structure, which it is hoped to erect shortly in some western city, will be on exhibit the ores from all the mining districts ot tho United States aud the extensive mechaulcal appliances which are now used for ore treatlug. It is hoped to work out the scheme fnr n treating on tho plan of the commercial museum in Philadelphia. What plans are to be adopted to secure this building, or what steps will be taken to obtain the necessary funds have not beeu stated, though it is expected that the bulk of tho money will como from nhini.rv subesriptions.
