Show development OF THE PROSPECT in reviewing the different phases chases of the mining industry of the west and of the conditions that govern mining operations one fact is clearly evident and this is that mining investors and those looking for prodoc ing and paying mines are apt to ignore belittle one branch of this or fascinating pursuit and this branch pertains to the pros pro hect and its development it is often that the owner of a prospect or a group of undeveloped ve loped but really meritorious claims in order to determine their true value has recourse to a common practice 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 of which is retained by the incorporators the balance usually a third or more of the cap capitalization being set aside for treasury purposes the returns from which ch are to he be used in mine equipment and mine development the custom is so universal in this inter mountain region that there is not a district even thou though 9 h remote and but little 0 k known 11 0 w n but that has several propositions of this character within its environments utah and adjoining states have such corporations 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 western bonanza propositions and yet there are those who affect to despise a new mining company which is engaged in the development of a prospect forgetting 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 at little more than wild cats and yet these 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 they should be and but for the fact that they made their respective properties iq the basis for incorporated corp orated 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 and of no more intrinsic value than so much acreage of barren ground the mining review dislikes very much to hear any one make sneering remarks concerning a prospects 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 shoeless shoeI ess and living almost like slaves in the endeavor to transform the prospect anto N a producing and paying mine today these men are millionaires they own some of the best business houses on main street and an they have built some of the many palatial residences which adorn the fashionable por portions of zion and yet no one now despa despises them because of the fact that at one time tim they were engaged in the development develop men tm of a prospect or because before their efforts e assisted asals were crowned with success they in the formation of companies for the of raising means for the development purpose press ress of a prospect it is not wise in this day pd and generation to prejudge an any y enterprise of a mining nature the prospect of today may be a mine of marvelous wealth and of wonderful possibilities 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 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 same good sense to get in on a prospect using good judgment in so doing that 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 offen more profitable to develop a prospect as it is to buy a mine or to invest in the stock of dividend paying propositions |