THE SUMPTER MINER
Wednesday, April 6, 1904
MINING EXCHANGE
EXPOSED PLEN1Y
Wall Street Concern a Com
bination of Cut-throat,
Cut-rate Broker
Crooks.
The Now York lluuker for Murcb
devotes h page and 11 half to exposing
cut-rato mining brokers and their
organization, the Wall Street Mining
Exchange. i'hi following in ru ex
tract from this article.
A New Vork firm of promoters re
ceutly sent decoy letters to one of
these cut-rate parasites In regard to 11
certain, stock lu ouo letter they
offered to soil the broker 100 shores
of tbo stock, and received u reply
that there was very litlo demnud for
the stock, tbiit the company would
not turn out us represented and thut
the stock should bo disposed of at
ouco; that tho market on that dato
was 10 emits per share and would bo
much lower iu n few days. In (ho
other letter they stated that they
desired to buy 100 shares of this
stock, if tho broker considered it a
good investment, and they received a
reply from tho broker that it was an
excellent investment and that ho
could recommend it and that his price
whs 55 cents por share, and that it
would sell much higher in a few days.
This is only an example of tho thou
sauds of lot turn that are bolutt sent
out by these leeches every day, and
any ouo receiving them should place
absolutely no depeudeuco lu them
whatever.
Oftentimes when nu investor
writers to one of these out-raters for
information regarding a stock thut is
kuown to bo first clats, ho receives a
reply that it is a good thing to let
alone, that the broker can recom
mend some other stock, iu which he is
of course interested, that is a very
much better investment in every
wb.v. In nmuy cases, the quoting of
first class stock at ridiculously low
prices is simply for the purpose of I
getting lu touch with investors, so '
that tboy can unload some of their
worthless paper ou them. I
A frequent stereoptyped nhrase I
used by these sharks is, "I will sell I
for less than tho regullur otllce1
tpina M , imitnlln ...t.n. 1, a I .... nw
I'livci um iiaiiaiij w null tuts lutrsiui
semis money to them to buy some of
ttilu utnnlf tit Ihmm tliMii thn roifiilur
office price, he finds ho cannot get I
either the stock or his money back.
So flagrant has their work become
along this lino and so numerous have1
beeu tho complaints sent to tho post
ottico authorities that investors can
not either get tiie stock purchased or
got their money back from theso cut
raters, that u number of government
inspectors aro now making a most
thorough and seurchiug iuvestigatiou I
of their practices, and it Is more than'
likely that a number of them will
soon bo put behind the bars, whero '
they beloug.
Today it is pructicaly business
suicide to attempt to float any enter-,
prise through advertlusiug it, if these
wolves cau get a dig at It. The way I
Id which they have torn to pieces aud
practically ruined a great many
good, substantial, legitimate stocks is
abominable iu the extreme. Vet many
stocks, ou account of tbir intrinsic
value aud merit, have been ablo to
withstand their attacks.
In order that the business of tho
out-throat brigade iu this city bo
helped along, they have organized a
headquarters which they dignify with
tho name of tho "Wall Street Min
ing tixchuugo. " If results count for
any thing, themembers of this Kx
chaugo are tint yot rolllug in pros
perity, for on a recent session of the
Exchange only ouo transaction took
placo, and iu that transaction thoro
was only a profit of 25 cents; yet tho
closing of this taursaotiou at the
price at which it took place had tho
effect of keeping down tho price ou
the hundreds of thousands of shames
of tho stock held by Investors.
Competition is supposed to help
busiuosH, aud wo ure Informed that
another Exchange is being pushed,
tbo chief pusher of which (bud receu-
tly boon oxpolled from ouo of tbo
largo exchanges of Now ork for
methods whlob the "powers that be"
of that lustitutlou could uot overlook,
even by tbo hardest kind of stretch
ing, and still tbo evil mill grinds on.
Only last week one of theso cut-throat
sharks was hqard to remark, "What
chance has the public with us, any
way?"
HIGH VALUES
FROM STANDARD
Dr. Ed W. Mueller, general man
ager of tho Standard mine, received
rotiirusThursday from a sample of ore
taken from the face of Standard drift
No. 1 aud seut in a few days ag.i by
Zoo th Housor. It was it character
istio s-unplo of cobalt ore iu which
tho property largely abounds, and
ussuyed 80(1.(10 lu gold, forty-two
cents in silver without any determina
tion having boon made of tho cobalt
aud coppor values. Theso Dr. Mueller
estimates wore about five per cent
cobalt and three copper.
It is tho cobalt oro which carries
such phenomenally high values in
gold. Tho oro from which tho assays
lu question were made was woll
specked with cobalt. In former In
stuucoa, from tho sumo vein where
the percent of cobalt was higher, tho
gold values have gone as high as
82,000.
Tho Standard drift No. 1 is now
lu over 500 feot with a depth approx
imating 400 feet, aud geuoral de
velopment is proceeding with satis
factory results at the mine.
Dr. Mueller also received returns
today from McHwen, Arthur A Mc
Ewen, who mado the Standard assay,
from several samples of Cracker Sum
mit oro. Theso averaged between 800
and 9(10 iu gold.
BfLCHER MACIMRY TO
BE SHIPPED AT ONCE.
I A. Ilrady, superintendent of
tho Holcher, camo up from linker this
morning aud wont out to tho prop
erty. Tbo twenty stamp mill now lu
Haker will bo transferred, bo nays, to
Whitney at ouco. Ho doubts, how
ever, the ability to got tho heavier
parts of the machinery out fo the
mine now, ou account of the condi
tion of tbo snow. The lighter parts
cau be hauled and this will be dono
upon the arrival of the consignment.
The rest will be tent out as soon
as tbe roads will permit. It Is the
purpose of tbe management to Install
the mill just as soon as olrcumitances
will allow.
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For Sale
Six Placer Claims, covering nearly all the
ground on a creek emptying into Burnt River,
this property is near to and parallel with the
noted placer grounds of Pine and Cow Creeks in
Baker County. All equipped for work, with reser
voirs, ditches, tlumes, pipe and Giant. For partial
lars see the undersigned.
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$2000
9
Buys the most sightly ten roomed residence
and ground in the city. Nicely finished inside and
out. An ideal location. This property will' readily
bring a rental of 1 5 per cent on the investment.
I $2000
Will buy one of the most desirable Homes in
Sumpter, consisting of an exceptionally, desirable
lot ;o by 150 feet, nicely improved, barn, and
house of six rooms with the complete furnishings.
a nano, ana other choice pieces ot turniture goes
with this. This property will bring 20 per cent
on the investment.
$1000
Will buy another six room house and lot.de.
sirably located. This propeity is now bringing 18
per cent as rental on the above price.
$250
A choice resident lot near the center of town.
drs S
For a desirablebuilding lot on the hill.
If you are seeking safe and remunerative in
vestments call and see us, as we have some snaps f
in the way of Business opportunities, Mines and
also mine prospects, on which considerable work
has been done, Houses and lots, and also
vacant lots, on whicn good money can be made
oy improving the same. If you have not money
enough to build you a home, we will help you,
and put you in a position, to put the rent you are
paying others in your own purse.
CALL ON OR ADDRESS
Inland Empire
Investment Co.
JESSE HOBSON, Manager
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