| Show WHY MINES ARE FOR SALE if your mines are good as you say why dont you keep them and work them yourself ii this is the question that is often asked of the claim holder when offering to sell his holdings which he asserts only need development t to place them on a producing and paying basis or as it often occurs the mine owner who goes east to place his property is asked why if they are good as he represents there are not buyers in salt lake who would gladly snap up such splendid opportunities these questions and many others equally as pertinent are time and time again propounded to owners of gilt edged properties and it is hard for them to explain the fact that they need financial aid to open their mines as they should be opened and to equip them with tale the machinery necessary for their successful operation that with thousands even millions in sight their holdings are practically valueless to them until they can place them on a producing basis when their real worth and merit will be fully and satis 1 facto rily established and it is hard for them to convince their questioners that the salt lake market is overloaded over loaded avith good things and that there is a limit to the purchasing capacity of a city of only inhabitants the subject of why good mines and prospects are offered for sale has been the topic of considerable discussion of late in financial circles and even the mining miling papers have taken it up commenting upon it quite fully amona among the number being the mining scientific press and the mining investor their deductions chions being as follows there are thirty seven gold producing 1 counties in the square miles of cali fornias area san francisco has been investing money in mines for afif fifty ty years and is today more heavily interested in mines in california and elsewhere than ever before in one county in california san francisco has put over in the last three years there are few mining districts in any part of the west half of america in which san francisco capital is not invested but then san francisco could not furnish the requisite amount of money necessary to develop the multitude of deserving mining projects daily brought to its attention what is said of san francisco applies with even greater aptness to denver salt lake city spokane and other cities there are mines of merit in colorado that cannot find capital in denver to push them on to a stage of development that would make them big paying propositions not from any distrust in denver of their value not ilot from any local knowledge that would cause refusal but purely because of the multiplicity of such proffers denver is a rich and progressive r city and its people are not slow to seize opportunities for making money quickly in mines or any other legitimate form of investment but were denver a dozen times as rich and enterprising and ready to invest every available dollar in good mines in colorado alone the supply would exceed tho the possibility of such investment and as in san francisco and denver so in salt lake city the writer recently sojourned sojourn ed in the utah metropolis remembering it when it was a little adobe built settlement he noted with pleasure the buildings 11 the large hotels stores and fine private residences resided reside dees ces the air of growing wealth evident in every quarter it was manifestly due to the mining element every mining P company operating in utah except four has its headquarters in salt lake city to salt lake goes much of the proceeds of the mines from salt lake went much of the money that opened up those mines and made prosperity in mountain and desert yet there are promising prospects enough in utah embryo mines that will some day be big dividend payers to absorb every dollar tb that at salt lake could coul draise raise in in the next ten years so likewise it might be truthfully said of a score of other places west of the meridian they have hinves invested ted and are making money from such investments in mines but can not absorb what is proffered no matter how confessedly good they may be from sheer lack of capacity it is not the inclination but the ability that is wanting what wonder the then that the man who knows he has a good thin thing but lacks the money to develop it failing to enlist local aid turns to the east or to europe where money brings but four per cent in the just belief that there he can find a purchaser for or a operator cooperator co in a mining property y of value it is not from any intent to 46 unload or work off a questionable scheme but in as honest a purpose as the man who in any other line of business having only and seeing where an investment of would bring promise of making asks one who wha has the money if he is willing to put up with him bim in the venture the mao magnitude of the mining area of this country is not generally understood till still less is its value since the discovery of gold in california that estate on has produced gold to the value of over there are now aver over undeveloped mines in california awaiting capital to become becom e profitable producers fifteen years ago cripple creek district colo was good only for sheep grazing in the past two years the gold output of that sheep pasture has put colorado in the front ranks of the gold producing states of the union yet there are over undeveloped mines in colorado As in california and colorado so in other states and territories west of the meridian of west longitude the new mammoth of bingham made its initial shipment of cyanides cranides cy anides last week the product iro duct showing gold values of 35 per pound |
