Show SOUND ADVICE ON STOCK PECULATION Captains of Finance Should Get in jn to Guide Mining Business SCHWAB AND GATES LEAD Their Example Recommended to Wall Wail WallStreet Street Sharks Who 10 Are Arc Knocking Knock ing lug Great Industry has sounded a a. very proper note of warning After Atel commenting commenting com corn upon tho the extraordinary activity activity ac ac- ac UV ty in mining share speculation on the New York curb It says editorially editor editor- Ja tally y Con Conservative financial Interests Interest it Jt must bo be observed ed do not regard this demon demonstration with approval In fact there Is a widespread fear tear In such mch quarters quarte rs that the movement will vIli quickly I run rUIl into an exceedingly dangerous dan tIan- speculation with nn nil Inflation In mining stock values which will necessarily necessarily nee nee- eS lead leall to disastrous results It has also been Rugge suggested te that better regulation than is Ie now exercised over the outside mining market has luL become absolutely necessary for Wall Wail streets street's own ou-n protection This Is well and true true and and the question question ques ques- tion Is what arc are the conservative financial financial fin fin- ancial uncial interests not only onh in New York but all over pr the country going to do about It Jt asks tho the Los Angeles Mining Review So long as there them Is such profit in metal mining shares In successful companies are hound bound to appreciate In value very value very rapidly too and antI in these people will speculate There Is no use In ar arguing against this movement move move- ment mont for Cor on the other side bullion returns and stock market profits are talking talking- in terms that convince Should Get in ia Band Wagon ngon When hen Henry Hnry III nI of oC Franco France found his throne threatened b by the he League he mn made e himself head heHl of orthe the tho League which became to him a a. useful organ organ- This move of ot the adroit monarch mon men arch Is recommended to conservative financial Interests of or this country for Cor Corver ver very thoughtful consideration The alarm of bankers and other ether leaders of finance a as noted by Bradstreets Bradstreet's Bradstreets Brad Brad- streets street's js is partly selfish partly sincere This great speculative movement In mining shares has unquestionably ta to taken ta- ta ken much capital from ordinary channels channels chan chan- nels of ot Investment and antI probably to an extent that is disturbing to some of oC our captains of ot Industry Yet the tho movement may unquestionably go too far it tar it Is tulLe quite possible that without wise leadership the marl market et ma may reach a I point where reaction and antI a a. disastrous disastrous trous crash h will be unavoidable Should this occur It will m be he beer er very largely because be- be cau clU cause e conservative financial Interests will vill have havo chosen to fight this moment movement move move- ment mont rather than b by participating to guide It along safe lines There is is however much ground for hope that tho the wiser course courso will be pursued pur pur- ur- ur sued and sued and whether this shall shaH happen through prudence or avarice or a combination of or tho the two will not nol mat mat- ter Charles Charles 31 M. Schwab John W W. V Gates John R. R Brock anti and other heavy heavyweights heavyweights wel weights In the tho financial world have gone Into mining heartily and and and their example will wm probably be followed by byman man many others of ot like prominence Every Everyman Everyman Everyman man of or this stamp who enters tho the field is of moio moro value to the tho Industry for Cor the safe ae business administration ho he guarantees than for the mone money he ho brings to it At Hoot Root of Prosperity I If our best men will wm but realize generally that hat this In Industry of or precious and ancl semi precious metal production lies at the foot of or nIl all human prosperity that upon 11 Its safe fe conduct must depend the well vell being of man many industries that mining is not n n. game of or chance but a business s undertaking in which the best hest rewards are to those who ap apply ap- ap pl ply the b best beet t methods method then will assured stability bo ho in sight Banks and anti hankers financiers and captains of Industry cannot stop mining or 01 speculation lation Jn hi mining shares shares hut but tho they earl carl cause more mor metal to be he produced at I less cost the they can cnn hu buy control of oC and administer wisely the he best beet t mines they can loud lend money on approved listed shares and antI b by con ast make malce others look so risky that only fools would in Invest In In- vest In them they can undertake operations op op- op- op orations of oC any magnitude antI and have unlimited support That the they will do all this we firmly believe and because lse In great busness busine busi bus ne ness affairs sentiment and prejudice must give O wa way to economic laws |