University of Virginia Library

"ADJOINING" MINES—GOOD BAIT

Then there is the same old argument about wonderful properties "adjoining" such and such a dividend-paying property. Very often the properties are miles apart. They might be within twenty-five feet of each other, and one still might be worthless and the other rich. The profits of old and famous properties very frequently are given in advertising literature of this class, "to show what money there is in mining." The "property" sold may be a ten-foot hole in a sand-bank two thousand miles from any of these; yet this absurd argument is sufficient to extract coin from the pocket of the American buyer. You can use Michigan to tout him on to Arizona; Utah to land him in California; Mexico to interest him in Alaska. Is it not true? There is no law against it.

Again, the appeal to your mining pocket may come, not through the advertising page, but in the proper person of the promoter or owner himself. For instance, not long ago a gentleman from California came into my office. He owned a mine on the old and well-traced Mother Vein, of Tuolumne County, California. It had been well opened, and showed, in development, according to a reputable engineer's report, three million dollars' worth of ore in sight, with many tons of the best ore already in the dump, stuff which would run very high in value.

At the proper time the gentleman carefully produced from his pocket a little ingot of pure gold, product of one test-mill run. He gave the best of references as to his responsibility. He offered to guarantee ten per cent. dividends on all money invested, and declared that he had a banking proposition and not a mine.