v
Wednesday, February 24, 1904
THb SUMPTER MINhR
DISASTROUS SNOW
SLIDE AT MAXWELL
Room and board at Bumpter Hotel
for 110 per week and up.
81
..J
it6a0Wmf
WILLIAM .WELLS ELMER , '
CON8ULTINO MININO
CNSINtCR
Oftc Hot) Sutor, SUMPTER. OREGON
BCOrOMD MaNIILL'S COOK
wfMNa
Mill Completely Destroyed And Damage
i Estimated at Between $25,000 .
And $30,000. .
M. H. Knapp, of Baker City, vine
-president of the Highland, came op
thla morning with definite informa
tion in regard to the disastrous elide
which swept away the mill at the
Maxwell, In the Rook Creek district,
yesterday morning. Mr. Knapp con
versed with men who came In from
the property and has the account
straight from them.
- 'The slide occurred . about 11
o'clock yesterday morning, and Is by
far the most destructive this season.
A rest body of snow, loosened by the
thaw, came thundering down into
the guloh, taking everything before
it. The ten stamp mill of the
Maxwell was In the path, and suffered
almost complete demolition. The
plant, together with connected build
ings, was carried far down the moun
tain and left In a atate of ruin. The
CUT RATE BROKERS
NOT ON TO THE JOB
Playing a System Against
Human Nature That
is Sure to Lose.
There are many people handling
mining stooks Iu the capaolty of
broken who are deliberately and sys
tematically biting off their noses to
spite their faces, although they
elthnr do not realize the faot or elue
are intentionally blind to it.
Hardly a day passes that the dally
papers and trade journals do not
contain cut-rate quotatloua from cut
rate brokers. These quotations are
in many oases so absolutely mislead
ing that Instead of attracting general
capital they repel it. An Investor's
interest In any one particular com
pany, be It a mining company or not,
annot be awakened by continually
implying that the company la not
worthy of confidence. This Is prac
tically what la done when the quoted
prloe of a stock Is kept down to a low
level.
There are stocks quoted today at
almost exactly the same prices that
they were a year ago, yet in the in
terim the properties have developed
'finely, and are just about to enter
the list of dividend payers. In view
-of these faota, the stocks are certainly
worth much more now than when
the properties which they represent
were hardly more than prospects.
boarding bouse, bunk hrnse and
other buildings were not iu the path
of the slide, and consequently
escaped. Fortunately no one was in
jured. The snow was banked up at
one of the Highland tunnels, but no
damage was done. Mr. Knapp thinks
that the amount of loss at the Max
well will amount to between 125,000
and $30,000.
Incidentally, he remarks upon the
unfortunate mill site, chosen ,.by the
Maxwell company. The mill Is lo
cated In a gulch directly in the traok
of snow slides. This is by no means
the first one within the memory of
residents of this locality, and it la
unfortunate that aucb a aite should
have been selected. The configura
tion of the country makea these dis
asters possible, and the course
taken by the last one la the favor
ite route.
This is the way an outside investor
figures. Consequently, when he is
approached with a rosy tale of how
good the the present condition of a
certain company, U and what
brilliant 'proapects.tHe future haa in
store for it, he is utterly at a loas to
understand why the price does not
advance In like proportion. There
fore, instead of becoming Interested
to the point of buying, he becomes
suspiolous and dismisses the whole
business from his mind. Huch an
aotlon la perfectly natural and in
absolute accord with human nature.
How much better would it be for
these brokers to consider the average
human nature aa It is, and mold their
Hoes of business accordingly. They
would find that not only would their
business increase, but their own In
dividual atandlng as brokers and up
right business men would be ' raised
In the eyes of "the business world In
general.
If an Investor baa decided to Invest
In a mining stock at a certain price,
and nlbtiu a abort time Is offered
more stock Iu the same company by
some one else at about one-balf the
price be o'riglnally paid out for It,
luatead of eagerly grasping the op
portunity of increasing hia holding
at a lower prk. he puts on his
thinking cap and says: "What's the
matter with It?" eventually refusing
to buy.
He feels exactly the same aa a man
who is offered a horse at 1100 when
be kuowa that $200 had been the
price ordinarily paid. He la not im
pressed with the Intended bargain.
If, on the other hand, the price
asked had been $250 he would not
feel suspiolous, because he would
know that a profit was being asked,
implying thereby that the animal waa
perfectly aatiiifaotory, and waa being
parted with as a matter of business.
American Mining Review.
C A. H. STARR.
MININO INVESTMENTS
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i
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JMJ
r
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