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About The Sumpter miner. (Sumpter, Or.) 1899-1905 | View Entire Issue (March 9, 1904)
Wednesday, March 9. 1904 THh bUMPTER MINbR 11 THERE'S NOTHING IN SUCH NAMES. Those of Prominent People As Directors Help no Mining Company. We liHve known of several iu stance ubere a "uuuie" litis been tho atu'uiblitiK block over wbieb tniuiug compauiea huvo stumbled, to their sorrow. We do uot refer to tbe title given these corporations, but to tbe name of "nrouiiuout and iurlueutial citizoua" whose connection with those comimuica is Hiiununccd, at the llrst. with reat Kato, tho impreislou sought to be couveyed being tbiit tbe personnel of theao Kentlenieu gave strength to tbe organization with which they are Identified, and that therefore such euturprisea are sure to prove successful. lu niauy cases this is true, but only uheu these prominent, iuilucu tin! and weultby Kentlenieu take a deop interest lu tbe proposition, and when they do all lu their power to push it along; contributing of their meaus, when necessary, aud exerting their Influence whenever aud wher ever possible. Ou tbe other baud, experience has ahowu, such weighty uauies ofteu dug the companies so encumbered to the very door of failure and bank ruptcy; tbe reason for this beiug that -with the e'uterprlses with which tbey are connected they are but little more tbau "dummies," having accepted positions ou directorates aud in the official roster of mluiug companies merely because tbey were given a block of stock to do so. Governor lllauk Is made president of a uilniug company upon tbe prom ise of receiving a block of stock in tbe company when it shall bare be come iucorporated. Senator Dee is named as vice president for tbe same reaaou. The Sand Hank of Cougo will act as treasurer fur a like con sideration. Tbe balauce of tbe -directorate is made up of Judge Roe, an eminent jurist, Hon. Johu Loo, member of the city council, and Hon. Ueorge Handshake, a member of the state legislature, all of whom receive a block of stock for tbe use of their names as company officials. 'The promoter, who really has a prom ising property, is elated aud shakes hands with himself over tbe swell aggregation he has conalled to give tone to his enterprise. In his iulud he has already achieved success. The good news is heralded to tbe world in rlamiug circulars aud iu a pros pectus that fairly overflows with en thusiasm aud promises. Tbeu the promotor sends a force out to the mine, purchases necessary machinery and mine equipment, after which bo devotes bis time to tbe sale of treas ury stock, which, of course, will go like hot cakes because oi tbe uames Included iu tbe directorate of his compauy. Hut, as often occurs, the local ruaraet is glutted with mining shares of tbis character, and tbe names of influential nieu do uot seem to draw as tbey should. A little later the company's treasury fuud is exhausted aud it seems difficult to .replenish it. Tbe men at work at the mine begin to demand their wages. Tbey are giveu promises aud lu good faith, for, are there uot sev eral "wealthy men" on tho board? They will not eo the enterprise stalled for lack ot a little mouey. Why, some of them are millionaires! Governor llluuk Is seen, but he seemingly takes little Interest lu tbemattet; and then, bis holdings are so small, llesides, be has sold 11 portion of bis shares iu direct com petition with tbe eft nit to disposo of tbe tieariiry stock ot tbe company Senator Hoe is tbeu appealed to, but he lias so niauy weighty things to attend to that be cannot assist the compauy. llesides, he has never seen the property, and uuly consented to act as vice president as a matter of accommodation uot that he cared for or ever bad any confidence iu the ultimate success of tbe project. Hon. Johu Loo aud Hon. (leorge Hand shake wish tbey had never beard of tbe compauy, aud tbe Sand Hank of Congo turm a cold shoulder to the supplicant aud Intimates that if given a controlling Interest in tho company it will try and take caie of the small amount owing, but that further than this it cannot promise. The piomoter, by this time, is lu it hard row of stumps. He is harassed ou every baud. He knows that he has tbe making of a big paying prop erty, with development; but begets uo sympathy nor support, either moral or financial, from tho officers of tbe compauy, who are so high aud mighty that tbe ignominy aud dis grace of failuro does uot fease them iu tbe least; aud tbe huuest demand aud urgent necessity uf tbe employees of tbe compauy do uot even rullle a feather of their dignity, or sense of bouor, if tbey havo auy, which ia doubtful. Tbe matters go from bad to worse. Suits are Hied agaiust the property of tbe compauy. Attachments are is sued, aud, later ou, because tbe property of tbe company is not pat ented, tbe claims are re-located after tbe first of tbe year, aud the com pauy, like a ship without a rudder, has au existence iu uame ouly, with out a foot of ground that it cau call its own, and all because tbe strength aud persnuuel of tbe compauy was expected to btiug mouey into ita treasury aud uphold tbe bauds of the manager. How much better would it bare beeu for tbe promoter to have aiso elated witb him men who were inter ested iu mining, who understand tbe various phases of the Industry men who, lackiug iu a political and finan cial promiueuce, would be quick to see tbe needs of tbe compauy, aud who would be willing to step into tbe breach witb their mouey aud with their sympathetic aid; men who would put up a hundred or so when necessary, aud who would be as active in guardiug tbe rights aud In terests of tbe "innocent" share holder as tbey would to defend their owu bouor au entirely different brand of honor from that supposed to be possessed by (iuvcruor lllauk aud his associates. Salt Lake Mining lieview. 1)1 US CALLED FOR. city eugineer at 910, 000. A certified check for the amount of 2 per emit of the bid, made pay able to the city treasurer, must ac compauy all bids as evidence of the good faith of tbe bidder. The council reserves tbe right to reject auy aud all bids. S. S. START, City Recorder. Timber and Homestead Filings. Timlier and homestead tllltms, as well s final proofs, can be made before Charle II. Clinnce, United States Com missioner, olllee In First National Hank of Sitmpter bulldiiii!, Punipter, thus sav ing applicants expense of n trip to Lu Grande. Sumpter, Ore., Feb. 21, 1004. Sealed proposals will bo received by the recorder of the city of Sump ter uutil 8 o'clock p. m. April 1, 1004, for the furnishing of all ma terial for aud tbe coustructiou of a sewerage system iu tbe city of Sump ter, Oregon, iu accordance with the plans aud specifications on file In tbe recorder's office. The total estimated WORTH READING YOU CAN MAKE MONEY IF YOU BUY THESE STOCKS VALLEY QUEEN-PRICE 9 CENTS Capital $250,000 The Coming Grot Mine of the Cable Cove District. Recent big strikes show values of over $181 per ton. A sure Producer. An investment in Valley Queen will many times double your money. J O O BUCK. HORN-PRICE 10 CENTS Capital $500,000. Will be a Greater Blue Bird. It has the ore bodies of this famous property. An Investment In Buck Horn is like finding money J J J J J J J" Write today for Prospectus and full Information. Men tion No. 60 and we will mail you Iree six months the NORTH AMERICAN MINER WHEELER & CO. Bankers 32 BROADWAY, N. Y- OF SUMPTER Capital Stock """- $25,000 Surplus; $1000 orriccna J.W. SCRIBCR . . Praaltfant CD. W. MUELLER, Vloa-lraUnt R. H. MILLER ... Caahlar Safety Deposit Vaults Gold Oust Bought Does a General Banking and exchange Business Tourist Cars East Many experienced travelers prefer tourist sleeping cars for the transcontinental journey. The Chicago, Milwaukee 8c St. Paul Railway can ai range for your trip east in tourist cars, offer you choice of routes and save you money. S15SL. !34ThirdSt., Portland, Ore. cost of tbe system Is placed by tbe