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Show editor" rai5es1)uest io A5 i TO SIGNIFICANCE OE "NAMES" Engineering and Mining Journal Makes Pointed; Comment on Compan' Nomenclature. A rose might smelt as swet by any other name, but a new mining di:eI"P-ment di:eI"P-ment In the eyes of its promoters mini be a r the magic of a famous name, pi us the inron.seiuei:tial, hut necessary. "Con-Soiidal "Con-Soiidal eil" or "! x l ni iuii," sa s the Engineering En-gineering a nd Mining Journal tn an -!: tor l. These art: iipi'1-m.h-v, i'pe.ii.illy If lhre Is no m: de elojti-i! in the property. prop-erty. The iniaKinai I'm .n the public puis tho ore in the "Kxteniuii" and the flotation flota-tion usually has a "psychologi'Ml prosperity" prosper-ity" for a time, t hxugn a a a matter of fact It is remarkable how few of tlieHC famous " Ex tensions" make good. Ui it-can it-can count them on one's fineers; United Verde Extension and Tonupah Extension, and well, a lew ulhern, tiioih we do not recall any "Consolidateds" that have been Hucces.sful except some real consolidations. con-solidations. In most mining districts It has been the other mines that have made good, anil not-the "Consolidated" and the "Extension" that traded on the name of the famous mine of the camp. The geography of some of these flotations flota-tions is often exceedingly vague. The "Kxtension" or "Consolidated" may he several miles away from tho real mine of that name. A recent flotation stated that its mine was "in the heart of the district" and then proceeded to mention the Hay Consolidated, United Verde and Miami Copper mines. We do not know to the heart of what district the promoters referred re-ferred probably the "district" of Arizona. It Is also worthy of note that mining companies with fool titles, such as the Intermountaln & Intercolonial Mining, Milling, Smelting and Reduction company, are usually failures; the air necessary to repeat such titles seems to exhaust all the energies of the promoters and prevent these companies from petting into the dividend div-idend list. Like the "Kxtension" and the Consolidated." they are usually wrecked by poor management or too slender financing. fi-nancing. United Verde Extension, now-one now-one of the conspicuous exceptions, was a failure until it came under the control of a group of capable mining men in the southwest who made a careful study of the property and then had sufficient capital cap-ital to put into effect the prospecting campaign outlined by the technical members mem-bers of this syndicate. WTiat constitutes a good name for a mining company? The securing of an adequate ade-quate name for a new mining development is fvuiiM hli.g of a problem and not alwavs 1 Mic v.siul. M:ny eat.-rn .MorkhoMer in j nimiii umij.iiiU'S have Utile id- a where I th.'ir pro; ! iy is situated. W h.-n asked ' wii.Mtj ih.- prupwty ii, m.-y will usual. y r-1 . : - ti:at it is "out wrst." or if pinned iluvvn tu moi'f 1 1 i j i 1 1 f silu.ilion. the stock-li-il'iiT !:.ts "an i rn pi.-ssion that it is t-ither in Ni'Va'ia or Arizona. ' As ev.--rybo-iy knows, tin.-i-f are a number i.f waste spots in Loth of those slates, as well as several sev-eral ao.-d dl.stn.-ts. , A name siif'h as "Old Baldy" may he satisfactory fur a mining company so long, as it is only of local interest, or if it has sufficient distinguishing characteristics to j impress its; i'--imn kabie qualities and situ- 1 a l ion upon i 1 s share h' I crs. Thus what constitutes a oo.l name dc;. ends to a con-sideraiih: con-sideraiih: ext. -nt on whether a company is lo bo purely local or is intended to appeal ap-peal to the public generally. If the dominant domi-nant capital interest is secured in one section sec-tion and the mine is in another part of ' the country, it is fitting find enlightening' to recuni.c these two features, as was j done in the Piltsburg-Silvcr Peak. Calu- 1 met A rizona ; I lie same ml eh t be sa id of some of the newer developments, such as the Calumet & Jerome, or the Pilts- , , burg-Jerome. But tiie United Verde Con- : ; solid :i tod Copper company's name is ob- , I viously n mre, play on the success of the: United Verde Copper company; It is not : connected in any way with the present . United Verde mine and is In no sense a : consolidation of that property, though among the eastern laymen this misconception misconcep-tion may readily be assumed. When such properties are quoted on the stock exchanges, the inevitable shortening shorten-ing of names for convenient trading iden- j tifieation makes the matter still more con- fusing to the uninformed mining investor, who for the good of the Industry should be protected. An example of the confusion that may arise fnm similar names Is the case of the United Verde Extension, which foj- months was referred to In the curb list as United Verde, whereas the latter stock is practically never offered or traded in. There is a great public interest at present in mining slocks, especially in copper stocks. Perhaps it is the most widespread wide-spread public interest that there has ever been in this country in mining stocks. Is the public going to be "stumr"? Will the mining societies take any steps to prevent the market for legitimate prospects being destroyed? |