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Show WESTERN MINING GAZETTEER. THE IRREPRESSIBLE CONFLICT. aztccr. cslcrn A house divided against itself can not stand. Two systems of operations in the development of mines are now on trial in this country. vviu.ism.n weiucl y. I)KV(iTKI) TO unnecessarily and discriminate dishonestly in the collection of such assessment. The remedy for this lies largely in the hands of hut the ultimate check upon this species of rascality, is, and ought to be, governmental provisions. We have governmental hank commissioners whose duty it is to supirvise ainbinquire into the management of our hank corporations. The colonial government of British provinces provide such supervision for their mining interests. The result is that mining stock investments in Now Zealand, Australia, and elsewhere, are as reliable and as eager! v sought after as investment in governments or first class hank stocks. Under this supervision, the stock based upon producing mines, is accepted as legitimate collateral securitv by banks, mon-eand no invidious distinction made i lenders, between it and other first class securities No honestly managed corporation will object to such supervision. Anil this brings us to the consideration of the Utah mining companies organized within the past two years. Much was hoped of these organizations and very many of our citizens invested in their stocks to a limited extent. What, is the matter with a majority of these companies that no work of consequence has been done on their properties during ihc past- season? And this holds true, too, with regard to most of those that started out with highest prices for their stock and with influential, wealthy men as stockholders and officers. The trouble is that the stock in these companies is not assessable, for the most part, until two years from the date of their incorporation. The management, in the majority of eases, have not been willing to put their hands into their own pockets and buy working capital at the price they disposed of it to outsiders. When work stopped on their mines the sale and price of stock dropped to zero, and the companies who have strained every nerve to keep explorations progressing on their properties have suffered with old dog Tray, by being found in bad company. Subscribers for stock in our mining companies should be willing to hear and pay their just proportion of judicious expenditure in prospecting and developing their mines. The assessment policy provides for this and should he applied at the very outset of the enterprise. The mining venture that cannot survive this pressure had better he hoveled into a dishonored grave. The quicker the better. stock-bidder- s; These systems, in their fundamental principles are in direct conflict with cacn other. One one are issues rcmemher that four Aivkhtiskrs will or the other, in the long run, must go to the month. Subscription, postage prepaid: United States and Can wall. Wo refer to the ijuestion of assessable or ada, S?U.O0 per annum. Payable in advance. unusscssablu stock in connection with mining Ukmittanckx should be made by lost Office Order, Hank Draft or Registered Letter, payable to Makk W. Musorovk. corporations. Communications in regard to the mining and milling of It is a settled fact that in large enterprises, ores solicited. Descriptions of new camps specially desired. such as the building and running of railroads, and the prospecting and development of mines, ALONG THE LINE. stock companies must play a leading part. The mines of Utah are evidently attracting Large outlays are needed in both cases to place How shall the attention of investors iv the steady and the properties on a paying basis. large and regular monthly bullion shipments. the capital be raised in the outset? By setting of the On- apart a certain portion of the stock as working The recent strike on the tario places that line property in the front rank capital and selling it to outside parties, sav the of dividend-pavinstock. By equitable, mines, and insures big div- advocates of idends for several years to come. This gives uniform assessment of all the stock, sav the new impetus to mining in Uintah District, advocates of the assessment policy. and as more extensive operations arc inauguThe argument adopts as a prerated ou other properties along this great min- cedent the action of the man who undertook eral belt, very important developments may to lift himself from tho ground by pulling at The Lowell it Williamson will his be expected. The assessment policy is based soon be shipping high grade ore ; the Glencoe upon the intrinsic value of the property repreis showing up nicely; the Boss is making reg- sented bv the stock, and ability and willingular shipments, and as soon as the Empire and ness of each subscriber to the stock to pay bis McHenry starts up, and many others we could or her proportion of the outlay required to mime, who can tell the amount of bullion make this intrinsic value marketable. To acwhich will be shipped from this district every complish this purpose there can be no objecmonth. The Great Basin is yielding a large tion to the setting apart of a working capital amount of line ore, and the First National lias as a mutual contribution bv the original lots of it in sight whenever desirable to ship. and the legitimate purpose of engagThe Lead mine lias been making regular ship- ing outside enterprise. But to rely entirely ments for years, and the greater the develop- upon sales of such stock for means to run the The Last machine, is a confession of weakness and ments the richer the showing. Chance, same place, (Bingham) will he started evinces want of confidence on the pari of the up by an English company at an early day, promoters and originators of the scheme in is such as the property and the showing in the Mavflower v represented by the stock. Besides to gratify the most sanguine expectations of it furnishes a premium on extravagance and the owners. The Stewarts have been holding rascality, and is an incentive to the meanest of tricks. Entrenched within the their own for years as bullion producers, while safe retreats of that financial irresponsibility others them the have Telegraph, among many that walks hand in hand with of Old bodies in ore The Jordan sight. large stock, the holders of the corporation fort aim lias thousands of fair grade ore exposed and only to secure a fortune by tho sale of stock when the now works are started up we expect without reference to the legitimate objects of stock combination, viz : the profitable develop good reports therefrom. The Horn Silver has 9 of the mine or property represented. ment DEALER IN astonished the most enthusiastic expert who Take for instance the Littie Pittsburgh mine visited it, and still rolls out the bullion as and its unassnssable stock, organized with a caphad The develop- ital of $20,000,000, with an honest expendthough nothing happened. iture say of $100,000 in development of a large ments in the mines around Alta ars verv AND and that once prosperous camp is body of ore, and a prospect of ample returns on from to $2,000,000, $1,000,000, the M2 Main St., SALT LAKE CITY. likely to again take its proper place in mining become irresistible to the circle's. The Marysvale district has several temptations holders of stock to make Attention o' ire n to lie pairs. very promising mines, and one or two recent their fortunes suddenly by disreputable Special All work warranted. strikes prove it immensely rich in the precious means rather than by the slow outmetals. The Barbee & Walker, with manv come of inetalic wealth. Leaving the mine in others in that section, have proved conclusive- the hands of unscrupulous agents, the promoters and heavy stockholders of the company ly that gold and silver in found in sandstone resort to New York, and by disreputable means formations. The prospect is certainly brighter run the price of stock up to $7,000,000, six than at anv other time in Utah's history, and times the actual value of the propertv, and k cro another year rolls around we believe there then make haste to unload before the bubble effects of that disaswill be near twenty more dividend paying hursts. The trous explosion every mine owner in the counmines within her boundary. The boom is Location of Miner: is painfully cognizant of. try Mount Itnlily District, Utah Ter. at last heading this way, and mining men The result is a really good mine overloaded should redouble their efforts to properly de- with debt with no recourse upon the stockhold- General Office, SALT LAKE CITY, velop their properties, and, as far as possible, ers in the way of just assessment to meet the Drarn-- Office, Room K, No. 8." Washington St., CHICAGO show up the immense wealth so long hidden. honest demands of creditors, and place tho enterprise upon a paying basis. .Speculation mav Capitol Stock, $J, OOO, OOO. indeed and for a time disable a really Tho complete list of applications for govdamage, Par Value, of Shares. - $10 valuable controlled mining an property ernment patents to mineral claims that appear by stock But tho latent recu- A. I). SEVAN", President. company. from week to week in the different local min-in- g of tho organization lies in the J. M. V ILLIAMSON. Titmsu perative power papers is pretty good evidence that mine assessable nature of its stock, and tho saving A. J. JOHNSON, Socrelarv. itr, owners arc awakening to the necessity of secu- quality is also a powerful safeguard against the C. H. M AORAMONTE, and ring tho only safe title there can be to mining tricks of the stock gambler. Granted, that a Manager, dishonest management may levy assessments properties. SALT LAKE CITY, UTAH. GOLD AND SILVER MINING ph-ns- e v 700-lev- el g lion-assessab- le V non-assessab- le boot-strap- s. sub-scriber- stock-jobbin- g non-assess- ahle s, IELIAN satis-factor- CLOCKS y, non-responsib- afehes JEWELRY lc 1 far-reachi- V h as:-scssa- 1 Vico-Preside- nt |