fiv
Wednesday, July 20, 1904
THh bUMPTER MINhR
ANNIHILATION OF
THE CROOKS
This Means, a Benefit to
; the Mining Industry as
: Well as to Investors.
' Id view of the facC that pooplo of
e'datem Oregou aro rouliziug moro
fully every day that the orooked
miniuR promoter ia a dotritueut to
any district; that thia seotidn aa
suffered from the operatioua of thia
breed, the followiuK from the Dally
Mining Record will be roud with in
terest: The Record has stated many timea
that the greatest bouollt to bo derived
from the absolute annihilation of the
shady stock promoter would accrue
to tho mining iudiiBlry equally with
tho investor. This is a self evident
proposition. Any protoctiott which
is extended to tho investor will ro
bound to tho interests ol' tho minoH.
This has beou illustrated in many
ways, but nevor moto pointedly than
iu tho opinions expressed by pro
motors of Washington, who find that
tho anti-fraud law of thnt stato in a
great encouragomeut to thorn iu their
operations, giving their clients more
coufldouoo iu the utterances sout out
iu proas olipplugs, prospectuses and
private lotters generally. Misrepre
sentation tiuder tho Washington
statuto is uuulo a criminal olfouse
spooillcally and the penalty attach
ing to a violation of it is severe
enough to bo effective, tiy having
such a restriction imposed upon the
businosa, houoat promoters are re
lieved from the burden of competing
with falsehoods aud suitor lug from
tho inevitable failure of fraudulent
oompanien. Moreover, it la apparent
that a groatnr percontage of the
mpnoy paid for stocks will go into the
mines than when worthless paper ia
pormittod to float abroad upon tales
of riches that have no foundation.
It will be found, wherever the
invostor turns, that tho honest mii
iug promoter and there are mauy
of them the man who has nothing
to fear from au investigation of his
enterprise or bis stutomonts concern
s' .g it, is anxious to soo legislate n
otiaated which will proporly safeguaid
tho eaHotoru stock buyer. He does
not fear such legislation himself
b'ucausn, so far as he alone is (Mil
ccnod, no laws aio necessary to
compel him to ho lionont. lie was
Ijinn IioiiohI and his clients have
njicariy diM,oc'i'(l him to ho wo. IUh
puppnit of .'well proijnsocl leKislatiou
is hasoil upon tho rinhl whioh he has
to protoct himself and the industry in
which he is interested from leeehos.
There are many ways of striking at
tho leeches aud various states havo
adopted various ways of doing it.
Moreover, tho postoflice department
at Wushiugton is making an organ
ized effort to protect tho public from
thorn. Rtornal vigiiauoo is tho price
whioh must be paid for tho protec
tion of the mining industry aud its
upright votaries against tho arch
enemy, tho fakir.
A Michigan aubsorlbcr recently
aaut a letter to The "Record in which
he declared that there were millions
of dollars i tbff'tauka of his state
Waiting aud williug to entor the
mines of the West, that tho mou
the industry need nuly to show that
Michigan money would bo honestly
administered when entrusted to them,
aud capital would pour from tho
banks into tho enterprises of tho
Rocky mouutains. TIiIb lottor is ouly
buo sample of many which aro ro
coivod at this office, and it is such
expressions as those that convinco
Tho Rocord that it is right in its
obuiso when vit lights the dishonest
oporator. We aro aomotimos criti
cised becauso' wo call attoutiou to
tho leoobos, but we Dud that wo
would not be worthy of our position
with respect to tho mining invest
ment business did wo uot mako war,
War, war, opoo'thlaf last4 'blast! df
thieves. The honest promoter should
be the first to see the necessity for
thia program.
PRUSSING WILL HAVE
SOMETHING TO SAY
Aloxandor Prussiug, of Chicago,
trustoo for tho purchasers of the Red
Hoy, accompanied by Mrs. Prussiug
and William Lummis, a mining man
formerly resident in linker City, but
now of Tonopah, interested in the
vicinity of Olive Luke, arrived in
towsi this morning. The party was
met at the station by John Thumsen,
rocoivor for tho Rod Hoy company,
who drovo up from Raker last night,
aud immediately aftor lunch drovo
out to tho propory. They wore pro
ceeded by J. (J. English, of Danville,
Illinois, and E. J. Godfroy, former
manager of the company.
On their arrival Mr. Thomson will
turn over the proproty to Mr. Prus
siug, trustoo for the purchasing
stockholders, which will oouatituto
tho end of his receivership. Mr.
Thomson's duty has been discharged
to the entire satisfaction of all con
cerned. Tho reorganisation of the company
will be the next thing lu order, aud
this, It la understood, will be
accomplished as soou as Mr. Prussiug
returns east. When seen by a Miner
representative this morning, Mr.
Prussiug said he had no further
statements to make thau bad already
been published, but ou his return
from the property he would probably
be In a position to make kuowu some
facts of publlo interest.
Morning Mine Matters.
Clark Suydo commenced suit
yestoniay against tho owuors of the
Morning mine for tti,(i.T2. It is un
derstood that ho holds their notes, for
62,000 aud that some other claims
have been assinori to him. It looks
as if a general assault is being made,
and dial the creditors are hustling to
protect themselves. 1 V Davidtnu
is reported to he huyiiiu up jii'lue
ments and other liens ou the piopoity.
In the inoiuiLimo, several parlien are
endeavoring to secure the properly.
What, the outcome will be is a mere
matter of guesswork.
Moving to the Gem.
Henry Dodson, formerly with the
Tabor Kruction, is moviug his effocts
from thoro today, aud will leave
shortly to assume the superintend
euoy of tho Gem latoly acquired by
the Golsor-IIeodryx company for
eastern olients. C. 8. Mclain who ia
to tako charge of the machinery has
already gone, aud Mr. Dodson will
follow iu a day or so.
E. L. Keauon, Whituoy, Oregon,
lumber, sash, doors, shingles, build-
Tourist ,
Cars Bast
t fs'IV
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Many' experienced travelers ;
prefer tourist sleeping cars
for- thc transcontinental
journey. The
I M.IW.'(
Chicago, Milwaukee & St.
Paul Railway
can at range- for. your trip
east in tourist cars, offer you
choice of routes and save
you money.
H. S. ROWE
General Ajjen
, 134 Third St., Portland, Ore.
HOIFORST.LOUISANDTHEWORLD'SFAIR
WILL YOU BE THERE?
Q Nature's Art Gallery of the Rockies lo addition to the
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going or returning via the "SCENIC LINE OF THE WORLD'
U
NRIVALED SCENIC ATTRACTIONS
NEQUALED DINING CAR SERVICE
NSURPASSED IN EFFORTS TO PLEASE
Write for Illustrated Booklet of Colorado's Famous Sights and Resorts
W. C. McBRIDE, General Agent
124 Third Street PORTLAND, OREGON
tX!&53&M!itC&i
1
WORTH READING
YOU CAN MAKE MONEY
IF YOU BUY THESE STOCKS
VALLEY QUEEN PRICE 9 CENTS
Capital $250,000. The Coming Great Mine ol 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 J J J
BUCK. HORN-PRICE 10 CENTS
Capital $500,000. Will be a Greater Blue Bird. It has
, the ore bodies of Ibis famous property. An investment
la Buck Horn is like finding money J J J J J J
Write today for Prospectus and full information. Men
tion No. 60 and we will mail you free six months the ,'
NORTH AMERICAN M LlM.g,Lvi
WHEELER & CO. Bankers 32 BROADWAY, N. Y
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