Show legitimacy OF PROSPECT DE it is often the case that investors in mining propositions and those looking for producing and paying mines are apt to ignore or belittle one branch of the mining industry and this branch pertains to the prospect and its development it is often that the owner of a prospect or a group of undeveloped but really meritorious claims in order to determine their true value has recourse to a common custom in order to raise the means for their exploration and this consists in the formation of a stock company a certain portion of the stock being retained by the incorporators the balance usually a third or more of the capitalization being set aside for treasury purposes the returns from which are to be used in mine equipment and mine development this custom is so universal in this intermountain region that there is not a district even though remote and but little known but that has several propositions of this character within its environments utah has such corporations po rations by the score yes by the hundreds and it is because of the financial assistance thus acquired that every now and then a new producer and a new dividend payer is added to the already long list of bonanza propositions and yet there are those who effect to despise a new mining company which is engaged in the development of a prospect f forgetting 0 rg etting the fact that every wealth producer in this western country was at one time nothing but a prospect and that some of these prospects at one time were reputed as little more than wild cats and yet these mem berkof bers of the feline family often develop into the biggest mines and the greatest dividend payers that this country can boast of we personally know of many producing mines in the camps of utah which several years ago were nothing but prospects the owners financially were unable to develop them as tb they ey should be and but for tb the e fact that they made their respective properties the basis for incorporated companies and thus raised the means for their exploitation these paying mines of today would be nothing but prospects still of no good to their owners unproductive duc tive and of no more inore intrinsic value than so much acreage of barren ground the mining review dislikes very much to hear anyone make sneering remarks concerning a prospect or of those honestly engaged in the development of a prospect we have known men personally who have worked hard in the development of a prospect we have seen them in rags almost barefoot and living almost like slaves in the endeavor to transform the prospect into a producing and paying mine today these men are millionaires they own some of the best business houses on main street and they have built some of the many palatial residences which adorn the fashionable portions of zion and yet no one now despises them because of the fact that at one time they were engaged in the development of a prospect or because before their efforts were crowned with success they assisted in the formation of companies for the express pu purpose of raising means for the development of a prospect it is not wise in this day and generation to prejudge any enterprise of a mining na nature the prospect of today may be a mine of marvelous wealth and of wonderful po possibilities ssi bili ties tomorrow today the prospect is viewed with indifference tomorrow people may be tumbling over each other to buy stock in it A strike has been made the property springs into prominence the poor little and despised company is in the swim and every individual member is lionized is a big man the timid the skeptical and the scoffer coffer envies him his good luck all are anxious to get in the proposition when it is a mine and its future is as good as assured but of the great army of investors and capitalists it is but very few who have the nerve the foresight and the good sense to get in on a prospect using asgood as good judgment in so doing as they would exercise when embarking in any other line of business or investment these few eventually find however that it is just as legitimate and often more profitable to develop a prospect as it is to buy a mine or to invest in the stock of dividend paying r propositions |