Show canadian mine ine gamblers G a lers crash cr ash sustain heavy losses as bubbles burst indus try now safe toronto ont the gilt to la oft off the gingerbread lager bread for thousands of canadian speculators in raining mining shares owing to a slump in prices that has been under way for throe three months paper profits of have disappeared in thin air during that period the tha mines and prospects are 11 1 1 as good as they were three in fi A ago so the he investors blame the pu u tess fess lonal ional bears for raiding the market by short selling but the fact Is that the bears seem to have been performing a useful function by introducing a needed element of sanity into speculation prices kind had reached a point where they were quite out of line with prospective dividends some of the best wines mines were vere giving tile the investor a return of only 2 per cent or less apparently no holder of stock wanted to sell if the bears had not liot appeared on tile the scene prices would have been hid bid up and up with tile the sky as tile the limit gold mine declines bollinger canudas canadas premier gold mine hi hag ns declined from a high valuation in 1027 of to 83 00 a loss of and hol hoi linger li a otteen been one of the speculative the three big mines of kirkland lake have lost a ns follows high present 1927 value lake shore anora 8 4 1 t 2 6 tecy teck to noranda the new copper g gold id mine of corthern fior thero quebec which Is now a producer of ev cupper IIer un oil a lurge large settle scale has det ifred from 01 KOKK to 39 3 a loss of amulet a neighboring prospect has bus had flud its fis cut in u half for a loss of 7 mug of tile the sh sal ver culnen aileo had its valuation cut in halt for a loss ot jW jW losses in the try fry the cuts cots and dogs have ben been be n proportionately even more vere I 1 anil and it was in these that the most widespread casu lillies among specula speculators agurs occurred smile at losses fortunately there tius has been no acute suir cring exempt lu iu isolated oise 8 there lias hus been no complaining margin marbin speculators tune have either taken their losses and forgotten theto them or 1 they have taken up alie lie stock bakx k und pui them uway away vend pending ing fairer skies there has beeb tio suggestion of u panic unfortunately there Is no evidente evidence chrit the mining mahln tins lias been cured the other iny A a new stock appeared on the lie eastern exchanges it bore bire the roi romantic name naine of alend Or orellia Urel ellid lle for a 0 while it kicked around nt at u few cents a share it jumped to SS 8 to 10 to sa 25 i where and what Is Pon daray some ot of the lie actual purchasers of at shares began tu to aask they learned it was not even in canada but some thousands of miles awny across the border in the state if washington it was supposed it to have lieve rich ore in base getnis und gold ld und nd big interests were sidd sd to bo be buying tit As for information in the possession of speculators there was nove none A public so receptive may eus lly ily have 0 6 more mare severe lesson coming to id it that canada Is only on the threshold thra of enormous mining development Is however obvious at the moment attention Is turned away from gold and silver to the base metals in while has fins dropped from the valuations of older mining companies other millions hien appearing ilan flon in northern Ninni manitoba toba lins has come on the market under in der the prosale preside name of budson buy bay so jias aas its neighbor Sli erItt gordon these are to he producers of copper zinc and gold it Is said their combined ore in sight la Is valued nt at new claims Pro promising hilsIng in vie he sudbury nickel di district immense new bodies of copper zinc lead end tind nickel been blocked out the freed deposit which Is on the 66 properties of the international nickel company and the mond company tit england Is said to te be one of the greatest bodies of ore in the world it contains copper and nickel and platinum and may be worth any thing from halt half a billion up new stars luave have appeared in mhd firina ment treadwell adNell yukon sudbury basin und aud others they have lead zinc and co copper per the public Is scrambling for sh shares anres awny away off in newfoundland canadian interests are consolidating claims which cover another linni immense onse lead zinc and copper deposit it Is in tile the heart of if the lie islaub and Is valued at something between and when one adds the known deposits of the sullivan lead zinc and copper mine lie in british columbia valued nt at bild there Is in these liula dozen base metal properties a valuation of nt more than coir erslon uv of which into liquid wenith except in the ease case of sullivan lins lina not yet begun every mining cacir in the country Is ls seething with activity |