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diff --git a/38903-h/38903-h.htm b/38903-h/38903-h.htm new file mode 100644 index 0000000..273b0bb --- /dev/null +++ b/38903-h/38903-h.htm @@ -0,0 +1,8607 @@ +<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" + "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"> +<!-- $Id: header.txt 236 2009-12-07 18:57:00Z vlsimpson $ --> + +<html xmlns="http://www.w3.org/1999/xhtml" xml:lang="en" lang="en"> + <head> + <meta http-equiv="Content-Type" content="text/html;charset=iso-8859-1" /> + <meta http-equiv="Content-Style-Type" content="text/css" /> + <title> + The Project Gutenberg eBook of The Business of Mining, by Arthur J. Hoskin, M.E. + </title> + <style type="text/css"> + +body { + margin-left: 10%; + margin-right: 10%; +} + + h1,h2,h3,h4,h5,h6 { + text-align: center; /* all headings centered */ + clear: both; +} + +p { + margin-left: 10%; + margin-top: .75em; + text-align: justify; + margin-bottom: .75em; + font-size: 12pt; +} + +hr { + width: 33%; + margin-top: 2em; + margin-bottom: 2em; + margin-left: auto; + margin-right: auto; + clear: both; +} + +.pagenum { + position: absolute; + left: 92%; + font-size: smaller; + text-align: right; +} + +.linenum { + position: absolute; + top: auto; + left: 4%; +} + +.center {text-align: center;} + +.left {text-align: left;} + +.right {text-align: right;} + +.smcap {font-variant: small-caps;} + +.caption {font-weight: bold; + font-variant: small-caps; + font-size: smaller; + text-align: center;} + +/* Columns for 256.png */ +.col1 {width: 26%; + text-align: left;} +.col2 {width: 12%; + text-align: center;} +.col3 {width: 17%; + text-align: center;} +.col4 {width: 13%; + text-align: right;} +.col5 {width: 11%; + text-align: right;} +.col5a {width: 11%; + text-align: center;} +.col6 {width: 14%; + text-align: right;} +.col6a {width: 14%; + text-align: center;} +.col7 {width: 2px;} + + </style> + </head> +<body> + + +<pre> + +The Project Gutenberg EBook of The Business of Mining, by Arthur J. Hoskin + +This eBook is for the use of anyone anywhere at no cost and with +almost no restrictions whatsoever. You may copy it, give it away or +re-use it under the terms of the Project Gutenberg License included +with this eBook or online at www.gutenberg.org + + +Title: The Business of Mining + A brief non-technical exposition of the principles involved + in the profitable operation of mines + +Author: Arthur J. Hoskin + +Release Date: February 16, 2012 [EBook #38903] + +Language: English + +Character set encoding: ISO-8859-1 + +*** START OF THIS PROJECT GUTENBERG EBOOK THE BUSINESS OF MINING *** + + + + +Produced by Eric Skeet and the Online Distributed +Proofreading Team at https://www.pgdp.net (This file was +produced from images generously made available by The +Internet Archive/American Libraries.) + + + + + + +</pre> + +<p><span class="pagenum"><a name="Page_i" id="Page_i">[i]</a></span></p> + +<p class="center"><a name="illus1" id="illus1"><img src="images/illus1.jpg" alt="Utah Copper Company's Open Pit Mine" /></a></p> +<p class="caption"><span class="smcap">Utah Copper Company's Open Pit Mine, Bingham, Utah.</span><br /> +This Mountain is Copper Ore.</p> +<p><span class="pagenum"><a name="Page_ii" id="Page_ii">[ii]</a></span></p> + + +<h1>THE BUSINESS<br /> +OF MINING</h1> + +<h3>A BRIEF, NON-TECHNICAL EXPOSITION<br /> +OF THE PRINCIPLES INVOLVED IN THE<br /> +PROFITABLE OPERATION OF MINES</h3> +<h3>BY</h3> +<h2>ARTHUR J. HOSKIN, M.E.,</h2> + +<p style="text-align: center; font-size: small; " >CONSULTING AND GENERAL MINING ENGINEER; WESTERN EDITOR, "MINES<br /> +AND MINERALS"; FORMERLY PROFESSOR OF MINING, COLORADO SCHOOL<br /> +OF MINES; MEMBER, AMERICAN INSTITUTE OF MINING ENGINEERS;<br /> +MEMBER, COLORADO SCIENTIFIC SOCIETY</p> + +<p style="text-align: center"><i>WITH 16 FULL PAGE ILLUSTRATIONS AND ONE CHART</i></p> +<p> </p> +<p class="figcenter"><img src="images/illus2.jpg" alt="Publisher's Logo" /></p> +<h3>PHILADELPHIA & LONDON</h3> +<h2>J. B. LIPPINCOTT COMPANY</h2> +<h3>1912</h3> +<p> </p> +<p><span class="pagenum"><a name="Page_iii" id="Page_iii">[iii]</a></span></p> +<p style="text-align: center; font-size: small">COPYRIGHT, 1912, BY J. B. LIPPENCOTT COMPANY<br/> +PUBLISHED JULY 1912</p> +<p> </p> +<p style="text-align: center; font-size: small">PRINTED BY J. B. LIPPINCOTT COMPANY<br /> +AT THE WASHINGTON SQUARE PRESS<br /> +PHILADELPHIA, U.S.A.</p> +<p><span class="pagenum"><a name="Page_iv" id="Page_iv">[iv]</a></span></p> + + + + +<h2>CONTENTS</h2> + + +<table border="0" summary="Table of Contents"> +<tr> +<td colspan="2" class="left" style="margin-left: 20%; padding-right: 5mm">CHAPTER</td> +<td class="right" style="padding-left: 0">PAGE</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm"> </td> +<td class="left;"><a href="#chap0"><span class="smcap">Introduction</span></a></td> +<td class="right" style="padding-left: 5mm">1</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">I.</td> +<td class="left"><a href="#chap1"><span class="smcap">What Is a Mine?</span></a></td> +<td class="right" style="padding-left: 5mm">4</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">II.</td> +<td class="left"><a href="#chap2"><span class="smcap">What Is Mining?</span></a></td> +<td class="right" style="padding-left: 5mm">12</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">III.</td> +<td class="left"><a href="#chap3"><span class="smcap">The Antiquity of Mining</span></a></td> +<td class="right" style="padding-left: 5mm">22</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">IV.</td> +<td class="left"><a href="#chap4"><span class="smcap">Mining's Place in Commerce</span></a></td> +<td class="right" style="padding-left: 5mm">28</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">V.</td> +<td class="left"><a href="#chap5"><span class="smcap">The Finding of Mines</span></a></td> +<td class="right" style="padding-left: 5mm">39</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">VI.</td> +<td class="left"><a href="#chap6"><span class="smcap">Mining Claims</span></a></td> +<td class="right" style="padding-left: 5mm">46</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">VII.</td> +<td class="left"><a href="#chap7"><span class="smcap">Placering</span></a></td> +<td class="right" style="padding-left: 5mm">60</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">VIII.</td> +<td class="left"><a href="#chap8"><span class="smcap">Open Mining</span></a></td> +<td class="right" style="padding-left: 5mm">72</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">IX.</td> +<td class="left"><a href="#chap9"><span class="smcap">Considerations Preceding the Opening of Mines</span></a></td> +<td class="right" style="padding-left: 5mm">78</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">X.</td> +<td class="left"><a href="#chap10"><span class="smcap">Mine Openings</span></a></td> +<td class="right" style="padding-left: 5mm">93</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XI.</td> +<td class="left"><a href="#chap11"><span class="smcap">Types of Ore Bodies</span></a></td> +<td class="right" style="padding-left: 5mm">107</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XII.</td> +<td class="left"><a href="#chap12"><span class="smcap">The Questions of Depth and Grades of Ore</span></a></td> +<td class="right" style="padding-left: 5mm">115</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XIII.</td> +<td class="left"><a href="#chap13"><span class="smcap">Valuation of Mining Property</span></a></td> +<td class="right" style="padding-left: 5mm">129</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XIV.</td> +<td class="left"><a href="#chap14"><span class="smcap">The Mine Promoter</span></a></td> +<td class="right" style="padding-left: 5mm">134</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XV.</td> +<td class="left"><a href="#chap15"><span class="smcap">Incorporation and Capitalization</span></a></td> +<td class="right" style="padding-left: 5mm">140</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XVI.</td> +<td class="left"><a href="#chap16"><span class="smcap">Mining Investments</span></a></td> +<td class="right" style="padding-left: 5mm">148</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XVII.</td> +<td class="left"><a href="#chap17"><span class="smcap">Mine Equipments</span></a></td> +<td class="right" style="padding-left: 5mm">154</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XVIII.</td> +<td class="left"><a href="#chap18"><span class="smcap">Mine Management</span></a></td> +<td class="right" style="padding-left: 5mm">162</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XIX.</td> +<td class="left"><a href="#chap19"><span class="smcap">Prices of Metals</span></a></td> +<td class="right" style="padding-left: 5mm">170</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XX.</td> +<td class="left"><a href="#chap20"><span class="smcap">Mine Accounting</span></a></td> +<td class="right" style="padding-left: 5mm">179</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XXI.</td> +<td class="left"><a href="#chap21"><span class="smcap">Investment in Mining Stocks</span></a></td> +<td class="right" style="padding-left: 5mm">185</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XXII.</td> +<td class="left"><a href="#chap22"><span class="smcap">The Men of the Future in Mining</span></a></td> +<td class="right" style="padding-left: 5mm">202</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm">XXIII.</td> +<td class="left"><a href="#chap23"><span class="smcap">Miscellaneous Considerations</span></a></td> +<td class="right" style="padding-left: 5mm">210</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm"> </td> +<td class="left"><a href="#chap24"><span class="smcap">Capitalization and Dividends of North<br /> + American Metal Mines</span></a></td> +<td class="right" style="padding-left: 5mm">216</td> +</tr> +<tr> +<td class="right" style="margin-left: 20%; padding-right: 5mm"> </td> +<td class="left"><a href="#chap25"><span class="smcap">Index</span></a></td> +<td class="right" style="padding-left: 5mm">220</td> +</tr> +</table> + +<p><span class="pagenum"><a name="Page_v" id="Page_v">[v]</a></span></p> + + + + +<h2>ILLUSTRATIONS</h2> + + +<table border="0" summary="Illustrations"> +<tr> +<td class="left" style="margin-left: 20%; "> </td> +<td class="right">PAGE</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%;"><a href="#illus1"><span class="smcap">Utah Copper Company's Open Pit Mine, Bingham, Utah</span></a></td> +<td class="right"><i>Frontispiece</i></td> +</tr> +<tr> +<td class="left" style="margin-left: 20%;"><a href="#illus3"><span class="smcap">Hacket Mine and Mill, Joplin, Mo.</span></a></td> +<td class="right">12</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%;"><a href="#illus4"><span class="smcap">Coal Washing Plant, Pana, Illinois</span></a></td> +<td class="right">17</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus5"><span class="smcap">Universal Mine, Clinton, Ind.</span></a></td> +<td class="right">20</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus6"><span class="smcap">Kennedy Mine, Jackson, Cal.</span></a></td> +<td class="right">31</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus7"><span class="smcap">A Gilpin County, Col., Scene</span></a></td> +<td class="right">53</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus8"><span class="smcap">Dredges of Yuba Consolidated Goldfields, Hammonton, Cal.</span></a></td> +<td class="right">66</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus9"><span class="smcap">The Snowstorm Placer, Fairplay, Col.</span></a></td> +<td class="right">70</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus10"><span class="smcap">Steam Shovels and Churn Drills, Copper Flat, Ely, Nev.</span></a></td> +<td class="right">74</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus11"><span class="smcap">Mill of the Pittsburg-Silver Peak Gold Mining Co., Blair, Nev.</span></a></td> +<td class="right">88</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus12"><span class="smcap">Mills and Shaft House of Daly West Mine, Park City, Utah</span></a></td> +<td class="right">100</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus13"><span class="smcap">Shaft No. 3, Tamarack Mining Co., Calumet, Mich.</span></a></td> +<td class="right">114</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus14"><span class="smcap">Smeltery of the Balaklala Consolidated Copper Co., Coram, Cal.</span></a></td> +<td class="right">114</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus15"><span class="smcap">Washoe Reduction Works of the Anaconda Copper Mining Co., Anaconda, Mont.</span></a></td> +<td class="right">119</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus16"><span class="smcap">Mill of the Roodepoort-United Mines, Transvaal, South Africa</span></a></td> +<td class="right">148</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus17"><span class="smcap">Spray Shaft House of Copper Queen Consolidated Mining Co., Bisbee, Ariz.</span></a></td> +<td class="right">161</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus18"><span class="smcap">Diagram of Metal Market for One-third of a Century</span></a></td> +<td class="right">178</td> +</tr> +<tr> +<td class="left" style="margin-left: 20%; "><a href="#illus19"><span class="smcap">Florence Mine and Mill, Goldfield, Nev.</span></a></td> +<td class="right">201</td> +</tr> + +</table> +<p> </p> +<p> </p> + + + + +<h1>THE BUSINESS OF MINING</h1> +<p> </p> + +<p><span class="pagenum"><a name="Page_1" id="Page_1">[1]</a></span></p> +<h2><a name="chap0" id="chap0">INTRODUCTION</a></h2> + + +<p>There is probably no line of human +activity that is not beset with malicious +and ignorant intruders. The fact that +any occupation or business is really legitimate +seems often to stimulate the operations +of these disreputable persons.</p> + +<p>Mining does not escape the application +of this postulate. For ages, the +industry has afforded most fertile opportunities +for the machinations of the +unscrupulous and the erring. Somehow, +there weaves throughout the history of +mining a sort of magnetism rendering us +unduly susceptible to the allurements +which are presented with every mining +proposition.</p> + +<p>It is not, however, always intentional +deceit that is perpetrated upon the unwary. +Often, mining failures result from +actual ignorance of the business upon the +<span class="pagenum"><a name="Page_2" id="Page_2">[2]</a></span> +part of those entrusted with its conduct, +or if not from actual lack of knowledge, +then from erroneous conceptions with the +consequent misapplication of honest endeavor. +A victim of such misplaced faith +is perhaps more leniently inclined than +is the person who has been duped by a +"shark," but the effect upon the great +industry is hurtful in either case.</p> + +<p>The purpose of this short monograph +will be served if the author can feel +assured that his readers will finish its +perusal with the belief that mining may +be followed as a business with just as +much assurance of success as attaches +to any one of the many lines of industrial +activity. Many persons who have sustained +losses in mining ventures deserve +no sympathy whatever, since they have +not exercised even the simplest precautions. +So long as men—or women—will +take as fact the word of any untrained +or inexperienced individual concerning +investments, just so long will there be +resultant financial losses, no matter what +the line of business. Because there have +been elements of chance observed in the +<span class="pagenum"><a name="Page_3" id="Page_3">[3]</a></span> +records of mining, this business appeals to +the speculative side of our human natures, +with the result that untold numbers of +individuals have had ample reason to +regret their ventures. But, as will be +found in the text matter, mining can be +relied upon with precisely as much assurance +as can any other business.</p> + +<p>Nothing of a technical or engineering +sort has been attempted herein, the sole +aim of the writer being to establish the +reliability and the credit of the mining +industry as a whole by pointing out the +lines of conduct which should be followed +by those who enter its precincts as business +people. When investors of small +or large means will put their money into +mining projects with the same precautions +that they would exercise in placing their +cash in other enterprises, they will be +rewarded with corresponding remuneration. +In this firm conviction, then, this +little work is dedicated to the intelligence +of American laymen in mining matters. +<span class="pagenum"><a name="Page_4" id="Page_4">[4]</a></span></p> + + + + +<h2><a name="chap1" id="chap1">I<br/>WHAT IS A MINE?</a> +</h2> + + +<p>Before entering into a discussion of the +economic features of the mining industry, +it will be well to be sure that we understand, +definitely, what is meant by mining. +As one investigates the question, +he is bound to run across varying shades +of meaning for the words <i>Mine</i> and +<i>Mining</i>, and so we must pause long +enough to define these words according +to the best usages.</p> + +<p>A search through works on mining +written at various periods reveals differing +ideas that have prevailed among +authors. Less than a hundred years ago, +it was said that a mine "consists of +subterranean workings from which valuable +minerals are extracted." One early +writer said that a mine is one only when +the operations are conducted in the +absence of daylight. As time has created +<span class="pagenum"><a name="Page_5" id="Page_5">[5]</a></span> +new fields for the industry, we find that +ideas concerning the meaning of the word +mine have necessarily altered, until now +(according to The Coal and Metal Miners' +Pocketbook), we may think of a mine as +"any excavation made for the extraction +of minerals." Under this definition, we +properly think of the rather unusual +operations of marketing coal right from +the surface of the earth, in eastern Kansas, +as mining. There is, in this case, no +covering of earth above the workmen; +neither are the operations necessarily +carried on at night to avoid the illumination +of the sun.</p> + +<p>So, also, placers are now correctly +spoken of as mines, although but a few +years ago there was drawn a strict line, +eliminating such worked deposits from +the category of mines. One may still +run across a few men who are sticklers +upon the point that a placer is not a +mine. Throughout the world, at the +present time, there are many places where +immense deposits of valuable minerals +are being excavated from open pits by +out-of-doors methods, and our common +<span class="pagenum"><a name="Page_6" id="Page_6">[6]</a></span> +term for these places is mines. Thus, in +Minnesota, in that wonderful Lake Superior +country, that is famous as the world's +greatest known producer of iron ore, +tremendous tonnages are handled every +year by the modern steam shovel, which +works in natural light by day and by +electric lamps at night. In Utah and +Nevada we find similar operations conducted +in the excavation of copper ores. +In Australia, the famous Mount Morgan +mine is using open air methods in the +mining of precious metal ore.</p> + +<p>But what about quarries from which +are taken building stone, salt, kaolin or +clay? Are not such substances of the +mineral kingdom? Here we run across +a hitch in the definition quoted above; +for while we hear of "salt mines" (not +"salted mines"), our parlance has not, as +yet, warranted this term except for such +excavations of salt as are carried on in +subterranean deposits; and it is quite out +of place to speak of stone or clay mines.</p> + +<p>Evidently we must pass through another +transition in our conceptions about +mines, or we must permit quarries and +<span class="pagenum"><a name="Page_7" id="Page_7">[7]</a></span> +pits to be included within our realm of +mines. At the present time, the prevailing +practice of the men best qualified +in such matters is to designate as mines +those workings from which only coal, +metallic ores, or gems are extracted. +Hence, we should not speak of a slate, +sulphur, mica, clay or phosphate mine.</p> + +<p>And yet, with all the above restriction +in our nomenclature, we have not +reached one very important consideration, +one which we have been approaching for a +number of years and which, of late, has +been met and forcibly applied by the best +men in the profession of mining engineering.</p> + +<p>An excavation that will produce coal, +metals or gems is not necessarily a mine. +The simple fact that a man can get some +gold-bearing dirt from a hole in the ground +does not mean that he has a mine. The +occasional finding of a diamond on the +sidewalks of a great city does not give +anybody the impression that city sidewalks +are diamond mines. There are +many places in which small amounts of +combustible coal can be scratched from +<span class="pagenum"><a name="Page_8" id="Page_8">[8]</a></span> +its natural depository, but no company +appears to think highly enough of these +seams to install machinery and to carry +on operations. In the eastern part of +Kentucky there are well-defined deposits +of lead-bearing baryta, though, up to +date, their development has not proved +successful. In Brazil there are known to +be very rich areas of placer ground, and +still the deposits are not worked. A friend +of the writer discovered some very good +gold-bearing gravels in Alaska, but he was +unable to mine.</p> + +<p>There is something besides the presence +of valuable minerals and the ability to +win them from their natural matrices that +is essential to a mine. It is here, in our +considerations of the mining industry, +that we come into real economic notions +for the first time. Yes, according to the +latest ideas, we are wrong in stating that +any worked or workable mineral deposit +is a mine, <i>if it does not contain possibilities +of profitable working</i>. This is now the +prime thought of every up-to-date mining +manager or engineer. It is this notion +that will distinguish a mine from a prospect. +<span class="pagenum"><a name="Page_9" id="Page_9">[9]</a></span> +The prospect may become a mine +by proving itself profitably workable: if it +simply carries values which cannot be +realized to advantage, then it must continue +as a mere prospect. There are +cases of properties which possess rich +deposits and which are loosely called +mines. These properties may be observed +to be erratic in their productiveness, +owing to the very pockety nature of the +deposits; and the owners, although they +do, indeed, strike occasional handsome +bonanzas, expend all the profits of such +finds—or even greater amounts—in +searching for other pockets. Is such +work profitable? Is it mining?</p> + +<p>The trouble with the cited placers of +South America is that climatic, hygienic +and political conditions have been antagonistic +to successful working: the ground +is rich, but it cannot be handled to make +money. In the case of the Alaska gravels, +there was no available, though essential, +water supply. The Kentucky galena +cannot be economically separated from +the containing heavy spar. Coal, which +is sold at comparatively low figures per +<span class="pagenum"><a name="Page_10" id="Page_10">[10]</a></span> +ton, must be handled at the mines in +large quantities to pay, so that a thin +seam or a scattered deposit is not suitable +for mining.</p> + +<p>Under these restrictions of our new +definitions, we run across many interesting +points. For instance, one may ask +the question about the old abandoned +hole in the ground which is occasionally +found by prospectors, "Is it a mine?" +The answer can be simply another query +as to whether the hole was abandoned +because it contained no value, or because, +containing value, it could not be profitably +worked. As we think of mines nowadays, +we can conceive several reasons +why, before the advent of transportation +lines and the invention of modern metallurgical +processes and many forms of +labor-saving machinery now so common +in and about mines, many very rich +deposits may have been necessarily forsaken +by their discoverers. But such a +property would, if now worked, probably +prove highly profitable. We thus note +that there exists some elasticity in the +meaning of the word mine. An unprofitable +<span class="pagenum"><a name="Page_11" id="Page_11">[11]</a></span> +project at one time may develop +into a mine at a later period. Many gold +mines have become worthless propositions +merely through changes in the ore that +have rendered further work unremunerative. +<span class="pagenum"><a name="Page_12" id="Page_12">[12]</a></span></p> + + + + +<h2><a name="chap2" id="chap2">II<br/>WHAT IS MINING?</a> +</h2> + + +<p>Having considered the accepted definition +of a mine, let us now extend our +reasoning a little and inquire just what +is meant by mining. At first thought, +one would say that mining is, in a broad +sense, the art or practice of excavating, +at a profit, the ores of metals, the beds of +coal, the gravels of placers and the deposits +containing precious stones. Are we +justified in letting this definition stand +as it is? If we do not make any change, +we must exclude all quarries, sand banks, +clay pits, and the numerous sorts of +works that are producing the non-metallic +minerals of commerce. Very well, since +we find good usage will warrant us, we +will do so.</p> + +<p class="center"><a name="illus3" id="illus3"><img src="images/illus3.jpg" alt="Hackett Mine and Mill" /></a></p> +<p class="caption">Hackett Mine and Mill, Joplin, Missouri.</p> + +<p>Still, there are other pertinent questions +arising. Does the practice of mining +cover the treatment of the excavated +products? Here we run across a mooted +point. The British and the American +<span class="pagenum"><a name="Page_13" id="Page_13">[13]</a></span> +uses of the word mining seem to be a bit +different in this regard. Upon the Rand, +South Africa, a territory dominated by +Englishmen, every mine is equipped with +its own mill, and all notions of mining +cover the inseparable idea of local ore +treatment. Here, in our country, there +are many, many mines which have absolutely +no means of treating their own +products and the managers give no +thought whatever to metallurgical or +milling lines. There are, on the other +hand, many companies that have erected +private plants at their mines for the +extraction of metallic contents from the +ores. Here it may, or it may not, happen +that the operations of mining are considered +as distinct from those of treatment. +In some instances, as at the +Tonopah Mining Company's plants, there +is separate superintendence of the milling +and the mining; but in the Joplin, Missouri, +zinc region one superintendent +looks after the running of a mine and +its omnipresent mill.</p> + +<p>There may be drawn a sharp distinction +between what is really mining and what is +<span class="pagenum"><a name="Page_14" id="Page_14">[14]</a></span> +the subsequent treatment of the ores for +the extraction of values. The latter field +is denoted <i>Metallurgy</i> when the operations +are of such a nature as to actually recover +or extract metallic products or metals. +If the treatment process has for its object +merely the rejection of some of the worthless +materials in the original ore, thus +causing a concentration of the valuable +minerals, but without actually obtaining +any metal, then the term <i>Ore Dressing</i> +is warranted. At some mines, there is +maintained a practice of culling out, +often by hand, a certain percentage of +the obviously worthless ingredients of +the ore before shipping the products to +treatment plants. This is neither milling, +metallurgy, nor ore dressing, but is more +properly called <i>Sorting</i>. It is one of the +operations connected with mining. Milling +may be either ore dressing or metallurgy.</p> + +<p>In the operations of placering, there is a +simultaneous <i>excavation</i> of a deposit and +an <i>extraction</i> of the valuable contents. +In this case, shall we call the process +mining or metallurgy? If it is a gold +<span class="pagenum"><a name="Page_15" id="Page_15">[15]</a></span> +placer, one may see the recovery of the +metallic values. Here, the usage of the +majority of practical mining men will +uphold us in always speaking of the work +as mining.</p> + +<p>In its original significance and use, +metallurgy involved the use of fire for +the concentration and recovery of metals. +With recent advances in chemistry, there +have been numerous discoveries of wet +or fireless methods for arriving at equivalent +results, so that it is now perfectly +proper to allow the word metallurgy to +cover such processes as cyanidation, chlorination, +electrolysis, and the host of new +inventions that are continually appearing.</p> + +<p>The writer has consulted a number of +authorities on mining lines to ascertain +just what sort of a position to give to the +practice of ore dressing. Prof. Robert H. +Richards, the head of the mining department +in the Massachusetts Institute of +Technology, and the inventor of machines +which have made him famous among +mining men, says, "Ore dressing is an +essential part of mining. The whole +object of ore dressing is to remove gangue +<span class="pagenum"><a name="Page_16" id="Page_16">[16]</a></span> +before shipment and so save in freight +and treatment charges." Mr. A. G. +Charleton, the eminent English mining +engineer and author of numerous books, +in discussing this question, writes, "Personally, +I am of the opinion that ore +dressing should be included in mining." +One has but to look through the catalogues +of most of the American and +foreign mining schools to find that little +or no line is drawn between the courses +in mining and metallurgy, and almost +universally the dressing of a mine's product +is taken up as an inseparable part +of mining. In a very few exceptions, the +courses of study are so planned as to +draw an imaginary line between mining +and metallurgy, and in these instances, +ore dressing is placed with metallurgy +only for convenience in the use and +arrangement of college laboratories. But, +since it is a common practice for mining +companies to install plants right at the +mines for the purpose of diminishing the +bulk of ore shipped and to thus save in +freight and custom treatment charges, +mine superintendents and even the common +<span class="pagenum"><a name="Page_17" id="Page_17">[17]</a></span> +miners have become accustomed to +thinking of such plants as but units of +the "mining" plants. At bituminous +and anthracite mines whose products +contain objectionable amounts of impurities, +it is a common practice to subject +the output to a <i>Washing</i> to remove the +deleterious substances before shipment to +the market.</p> + +<p class="center"><a name="illus4" id="illus4"><img src="images/illus4.jpg" alt="Coal Washing Plant" /></a></p> +<p class="caption">Coal Washing Plant, Pana, Illinois.</p> + +<p>In view, then, of these reasons, it is +proper to decide that mining is a term +broad enough to cover the operations of +extracting coal and metallic ores from +the ground and of preparing them for +shipment or metallurgical treatment.</p> + +<p>Coal is always coal, no matter in what +thickness of deposit it is found. It may +not be minable coal because in thin seams +or because so intercalated with layers of +slate or "bone," that the mine's mixture, +or so-called "run of mine," is not salable. +But with metallic ores, we run across an +idea that is occupying the attention of +many prominent geologists and mining +men.</p> + +<p>What is ore? This is a question to +which there have been many attempted +<span class="pagenum"><a name="Page_18" id="Page_18">[18]</a></span> +answers. There has been an evolution +of ideas, with a corresponding gradation +of definition. To set a uniform standard +of thought upon this point, officers of +the United States Geological Survey, a +few years ago, proposed the following +definition. It must be conceded that +this definition, while embodying many +splendid features, is not altogether exempt +from criticism; but in the absence of anything +better, we shall not be very far in +error if we use it:</p> + +<p><i>Ore</i> is a <i>natural</i> aggregation of one or +more <i>minerals</i> from which useful <i>metal</i> +may be <i>profitably</i> extracted.</p> + +<p>There is, then, no such thing as "pay +ore" or "non-pay ore," expressions still +quite common among miners and prospectors +of the uneducated types. Prof. +James F. Kemp, probably America's best-posted +writer upon the subject, in an +attempt to formulate one acceptable and +unchangeable meaning for the word ore, +says, "In its technical sense, an ore is a +metalliferous mineral or an aggregate of +such minerals, more or less mixed with +gangue, and capable of being won and +<span class="pagenum"><a name="Page_19" id="Page_19">[19]</a></span> +treated at a profit. The test of <i>yielding +the metal or metals at a profit</i> seems to me, +in the last analysis, the only feasible one +to employ." This definition eliminates +one of the weak points in the first definition, +namely, that an ore must be an +association of minerals: there are some +common ores (as for example, magnetite) +which are not associations, but single +minerals.</p> + +<p>We now reach certain fundamental +concepts which must be accepted by the +mining man who desires to be recognized +as abreast of modern ideas. Following +the publication of Kemp's definition of +ore, there was much comment—as was +anticipated—with the result that there +has been noted a vacancy in scientific +matters and it has been thought proper +to permit another definition for purely +scientific uses. This other definition of +ore will cover the materials or aggregates +of minerals from which gem stones and +other valuable, but not metallic, substances +are recovered.</p> + +<p>Let us recapitulate. An <i>ore</i> must be +an aggregate or association of natural +<span class="pagenum"><a name="Page_20" id="Page_20">[20]</a></span> +minerals, or a single mineral, from which +metal may be profitably recovered. <i>Mines</i> +are excavations in the earth from which +ore, coal or gems are taken. <i>Mining</i> is +the art or practice of operating mines.</p> + +<p>Throughout the subject, we see the +inseparable idea of <i>profit</i>. The work of +carrying on operations in a railroad tunnel +is not mining; the driving of adits through +barren rocks to reach ore bodies is not +mining; the sinking of shafts through +worthless "wash" or rocks with a view +of opening avenues for the removal of +ore is not mining. Mining is carried on +only when ore is being produced. The +wildcat practice of erecting small, temporary +plants and digging prospect holes +can be condemned as not being real +mining.</p> + +<p class="center"><a name="illus5" id="illus5"><img src="images/illus5.jpg" alt="Universal Mine (bituminous), Clinton," /></a></p> +<p class="caption">Universal Mine (bituminous), Clinton, Indiana.</p> + +<p>There is usually little question about +the validity of a coal mining proposition, +since "the goods show for themselves." +Comparatively few cases of fraudulent +ventures in coal properties are of record. +The product of a coal mine is ready for +market just as soon as it is loaded into +railroad cars, the mining company receiving +<span class="pagenum"><a name="Page_21" id="Page_21">[21]</a></span> +its pay, commonly, upon its own +recorded weights. There is no freight +to pay, no waiting for assays or analyses, +and no settlements with mills or smelteries. +There are not the allurements for getting +rich quickly in coal mining that are so +beguiling to the class of investors generally +approached by the promoters of mines(?). +This must not be construed as stating that +nobody has ever been deceived in a coal +mine proposition, for, indeed, there have +been many failures; however, they have +been due, chiefly, to auto-deception as to +area, thickness or quality of the coal +measures. +<span class="pagenum"><a name="Page_22" id="Page_22">[22]</a></span></p> + + + + +<h2><a name="chap3" id="chap3">III<br/>THE ANTIQUITY OF MINING.</a> +</h2> + + +<p>Mining is believed to have been one +of man's earliest occupations. In historical +writings, many of which date back +into antiquity, there are allusions, as +well as direct statements, concerning the +art and tasks of obtaining valuable metals +from Mother Earth. We are told that +the very ancient Egyptians made common +use of metals and that they possessed +knowledge of certain metallurgical and +metal-working processes (as for example, +the tempering of copper) which we, of +today, cannot claim. Six thousand years +ago Egypt became a world power through +her mining of copper in the Sinai Peninsula. +Iron implements found in the great +Gizeh Pyramid are supposed to date back +to 4,000 B.C. Copper tools have been +found in the ruins of ancient Troy. In +Assyria, a very good steel saw, 44 inches +long, was taken from the ruins of Nimrod. +Iron was utilized by the Chinese some +<span class="pagenum"><a name="Page_23" id="Page_23">[23]</a></span> +2,000 years B.C. Near Delhi, India, +there exists an iron pillar, 22 feet long and +weighing six tons, dating back to 400 +B.C. It is chiefly interesting in exhibiting +an ancient knowledge of welding which +is the envy of our modern iron workers. +If we accept the Hebrew Scriptures, we +must believe that mining was carried on +in the time of Tubalcain, spoken of in +Genesis. The Old Testament contains +numerous verses referring to the mining +of metals, the land of perfect abundance +being paraphrased in Deuteronomy thus: +"Where the stones are of iron and out +of its hills are digged mines of brass." +Coal was mined and used in Greece in +1330 B.C.</p> + +<p>It is quite probable that gold was the +earliest metal to be worked. There are +two good reasons for this assumption: +First, gold was to be found in the native +state or as nuggets, thus requiring no +reduction process. Second, the ores of +gold are usually less refractory than are +the ores of other metals. This is especially +true of the oxidized ores such as +would naturally be discovered by primitive +<span class="pagenum"><a name="Page_24" id="Page_24">[24]</a></span> +man. These facts, together with +the further properties of gold, <i>viz.</i>, that +its color is attractive, that it resists corrosion +or tarnish, and that it is easily +worked into ornaments or coin merely +by hammering, make it highly probable +that humans early made use of this yellow +material.</p> + +<p>We read in Job 28:1, that "gold is +refined;" and modern investigations tend +to prove that the Ophir of Biblical reference +is the southern portion of Matabeleland +or the Rhodesia of present fame +among mining regions. It is possible and +quite probable that the great quantities +of gold used in the building and furnishing +of King Solomon's Temple came from the +vicinity of the present city of Johannesburg. +The "golden fleece" of literature +has been explained as a figure of speech +for the skins of sheep which were laid in +troughs to catch gold upon the principle +of the riffle in a modern sluice-box.</p> + +<p>Copper was perhaps the second metal +to be worked by man. As a rule, it, also, +is easily smelted from its ores; and, as +above mentioned, we have relics that +<span class="pagenum"><a name="Page_25" id="Page_25">[25]</a></span> +give evidence of wonderful skill in working +this metal in times of remote antiquity.</p> + +<p>However, other metals are believed to +have been mined, upon commercial scales, +before the Christian era. Silver and lead +were handled in large quantities from the +mines of Laurium, Greece, in the sixth +century B.C., and the same mines are +being worked to this day, the principal +values now being in the lead rather than, +as formerly, in the white metal. The +Phœnicians, about 500 B.C., invaded +Spain for gold, copper and mercury, and +Cornwall for tin and copper. The Almaden +quicksilver mines of Spain have been +operated, almost incessantly, since 415 +B.C., and in the 16th century, A.D., +the wealth of Europe's greatest family +of financiers, the Fügers, was based upon +the operation of this remarkable deposit.</p> + +<p>Del Mar, in his <i>History of the Precious +Metals</i>, says, "Desire for the precious +metals, rather than geographical +researches or military conquest, is the +principal motive which has led to the +dominion of the earth by civilized races. +Gold has invariably invited commerce, +<span class="pagenum"><a name="Page_26" id="Page_26">[26]</a></span> +invasion has followed commerce, and +permanent occupation has completed the +process. It is the history of the past as +well as of the present. Scipio went to +Africa, Cæsar to Gaul, Columbus to +America, Cortez to Mexico, Pizarro to +Peru, Clive to the conquest and Hastings +to plunder Bengal."</p> + +<p>Our own day has witnessed the subjugation +of the Boer. Because of Mexico's +mineral wealth, many optimistic Americans +are beginning to prophesy the +annexation of our sister republic. For +gold, Englishmen populated Australia +in 1850, about the same time (1849) that +we witnessed the rush to California gold +fields. Spaniards settled Central and +South American countries merely to gain +the precious metals. It is mining which +has been responsible for the population +of the arid, southwestern portion of our +own domain.</p> + +<p>In this, as in every other age of the +world's development, we shall find that +the mining industry lies at the heart of +all commerce. It is well for the student +of mining economics to fully appreciate +<span class="pagenum"><a name="Page_27" id="Page_27">[27]</a></span> +this fact, for it will whet his interest in +this great world industry.</p> + +<p>"Truly, it has been a great seeking +and finding. The story of mining may +have been staled by commonplace, and +the romance of it dulled, often enough, +by greed; yet, in the main, it has linked +the generations of earth as with a golden +thread—and if not golden only, then there +has been the red glint of copper or the +white sheen of silver. Mining districts +may come and go, but mining remains."—(Editorial, +<i>Engineering and Mining Journal</i>). +<span class="pagenum"><a name="Page_28" id="Page_28">[28]</a></span></p> + + + + +<h2><a name="chap4" id="chap4">IV<br/>MINING'S PLACE IN COMMERCE.</a> +</h2> + + +<p>It is said that upon two of the world's +commercial industries, every other form +of activity depends. These two fundamental +industries are agriculture and +mining. Statisticians prove the above +statement and the further fact that these +two dissimilar branches of civilization's +business are so closely related as to be +quite inter-dependent. Strides are made +by one of these industries only when +advance is noted in the other. While it +may not be possible to explain just why +this is so, it is worth our attention to +consider some brief figures that show +this condition of affairs.</p> + +<p>The agitation conducted during the +past few years, leading to the establishment +of a Bureau of Mines in the Department +of the Interior, attracted the +thoughts of many students of economics +who had not previously or seriously considered +the industry of mining. The +<span class="pagenum"><a name="Page_29" id="Page_29">[29]</a></span> +delivery of brilliant addresses showed +that mining had been unjustly retarded. +While agriculture has for years been +fostered by the government and with +remarkably satisfactory results, the great +sister industry has been required, until +recently, to struggle along without any +governmental recognition in the matter +of support. Yet it has forged its way in +unmistakable terms of progress and there +was an insistent demand, among those +men particularly interested in the welfare +of mining, for the protection and the +assistance which would and has now +come through the establishment of a governmental +department. Various states +have long recognized the importance of +the mining industry by the establishment +of departments. The Canadian and Mexican +governments maintain very creditable +Departments of Mines. It was but +a question of time until the shortsightedness +of our politicians (not our statesmen) +was revealed, and the mining industry +has now come under the auspices of a +federal department.</p> + +<p>Taking the world as a whole, it would +<span class="pagenum"><a name="Page_30" id="Page_30">[30]</a></span> +be hard to conceive the sum total of +annual mineral productions. The middle +of the past century seems to have been +a critical period in the mining industry +of the earth. There was a great impetus +given to mining by the greed for gold +which caused the settlement of our western +states and the Australian states, as +already mentioned. But there gradually +followed the opening up of mining in +many other and hitherto unpopulated +and uncivilized portions of the globe. +The search for gold was successful.</p> + +<p>Prior to 1850, the production of gold +had not kept pace with the increase in +population. Soon, however, it began to +take leaps, in almost geometrical ratios, +until, by 1900, the annual production of +gold throughout the world was some 2,200 +per cent. of the production for 1800 (as +nearly as may be ascertained). The +1900 gold production was of a weight of +about 400 tons, in round figures. During +1911, the world produced approximately +$470,000,000 (about 779 tons) in +new gold bullion. It is estimated that +with a continuance of the remarkable +<span class="pagenum"><a name="Page_31" id="Page_31">[31]</a></span> +progress, the next 20 years will duplicate +<i>the amount of gold now known in the +world</i>. <i>This means that the amount of +gold which has been accumulating from +mining during the world's ages will be +doubled during a fraction of our lifetime.</i> +This is significant of the world's progress, +in gold mining, at least.</p> + +<p class="center"><a name="illus6" id="illus6"><img src="images/illus6.jpg" alt="Kennedy Mine, Jackson." /></a></p> +<p class="caption">Kennedy Mine, Jackson, California.</p> + +<p>It seems coincidental that the rush for +gold in 1849-50 should have been almost +simultaneous with the remarkable development +of our other mineral resources. +All of our great discoveries of coal, oil, +silver, iron, lead, copper, and zinc can +be said to have followed closely upon the +discovery of gold in California. It is not +supposed that the discovery of iron in +northern Michigan in the early eighties +had any connection with the "Pike's-Peak-or-Bust" +expeditions, nor that the +opening and development of the vast +coal beds of Pennsylvania had any bearing +on the discoveries of lead and zinc +in the great Mississippi Valley. But, on +the other hand, there can be traced a +very intimate relation between the finding +of gold, silver, copper, and lead in the +<span class="pagenum"><a name="Page_32" id="Page_32">[32]</a></span> +Rocky Mountain states and the search for +gold in California: the pioneers en route +to the coast were the discoverers and +settlers in Colorado, Wyoming, Utah, and +Montana.</p> + +<p>Figures are not available for arriving +at such striking or reliable conclusions in +regard to the world's production of metals +other than gold, but there is no logical +reason to doubt that such increases have +been just as pronounced as in the case of +the yellow metal. In fact, there are good +grounds for assuming that the figures for +silver, lead, iron, and zinc would show up +even more spectacularly; while with coal, +we know that we are now in the greatest +period of the world's production.</p> + +<p>The United States leads the world in +the production of the base metals, such +as copper, iron, manganese, lead, and zinc, +taken collectively or separately. Our +country stands second in the production +of the precious metals, gold, platinum, +and silver. We have the greatest variety +of mineral products, as well as the greatest +production of complex ores, or those +carrying more than one valuable metal. +<span class="pagenum"><a name="Page_33" id="Page_33">[33]</a></span> +We produce more copper than the rest of +the world combined. Although we stand +in second place when considering the +production of gold, we still possess the +Homestake mine in the Black Hills, +famous as being the gold mine with the +greatest tonnage in the world; and the +Camp Bird mine, in the San Juan district +of Colorado, famous the world over +for its highest average value of gold ore. +This great mine is now nearly exhausted +and is about to close down after making +a wonderful record.</p> + +<p>South Africa produces the greatest +amount of, and the purest, natural gold +in the world. Great Britain has an +insignificant production of both gold and +copper, and still it is noteworthy that +the English-speaking nations control the +world's production of both these metals. +British and American citizens own seven-eighths +of the world's gold mines. England +stands second in the consumption of +copper, which, of course, is mainly imported.</p> + +<p>Russia controls the world's output of +platinum, with very little competition. +<span class="pagenum"><a name="Page_34" id="Page_34">[34]</a></span> +In a similar manner, Canada has the +control of nickel production. Mexico, +although not commonly regarded as a +gold mining country, is rapidly coming +to the front and possesses the Esperanza +mine, said to be one of the most profitable +gold mines in the world.</p> + +<p>To more emphatically show the importance +of the mining industry, especially +in our own country, the following facts +are taken from 1900 census returns: +Agriculture produces annually about $725 +per capita; mining, $1,910; and manufacturing, +which is dependent upon the +others, $760. <i>The National Banker</i> has +said: "Statistics show that the combined +dividends paid by the gold and silver +mining companies of the United States +are greater than the combined dividends +paid by all of the banking institutions of +the country; and the combined dividends +paid by the copper mining companies of +the United States exceed the combined +dividends paid by all of our railroads."</p> + +<p>There is one thought that will always +comfort any person who is engaged in +furthering legitimate mining: Wealth +<span class="pagenum"><a name="Page_35" id="Page_35">[35]</a></span> +acquired from a mine is not wrested from +any being but Mother Earth, and it is +not, therefore, in the class with the much +discussed "tainted money" that is said +to be wrung from unfortunate human +beings.</p> + +<p>The following tables are presented +to give the reader ideas concerning the +productions of gold and silver during +recent years. Among the interesting +points that may be noted are the following:</p> + +<p>The gold production of the world took +a sudden drop in 1900, but it immediately +resumed its upward climb. During the +decade from 1900 to 1910, this production +increased over 81 per cent.</p> + +<p>There is a remarkable similarity noticeable +in the gold productions of the United +States during the years 1910 and 1911.</p> + +<p>Without the notable increase in the +gold output of the Transvaal in 1911, +the world's total gold production for that +year would have shown a decrease.</p> + +<p>The silver production of the United +States remained practically unchanged +during 1911. +<span class="pagenum"><a name="Page_36" id="Page_36">[36]</a></span></p> +<p> </p> +<p class="center">GOLD PRODUCTION OF THE WORLD FOR 20 YEARS</p> + +<table style="margin-left: 20%; font-size: 10pt; " summary="Gold Production Statistics"> +<tr> +<td class="left">1892</td> +<td class="right" style="padding-left: 2%">$146,292,600</td> +<td class="left" style="padding-left: 25%">1902</td> +<td class="right" style= "padding-left: 26%" >$298,812,493</td> +</tr> +<tr> +<td class="left">1893</td> +<td class="right" style="padding-left: 5%">158,437,551</td> +<td class="left" style="padding-left: 25%">1903</td> +<td class="right" style="padding-left: 30%">329,475,401</td> +</tr> +<tr> +<td class="left">1894</td> +<td class="right" style="padding-left: 5%">182,509,283</td> +<td class="left" style="padding-left: 25%">1904</td> +<td class="right" style="padding-left: 30%">349,088,293</td> +</tr> +<tr> +<td class="left">1895</td> +<td class="right" style="padding-left: 5%">198,995,741</td> +<td class="left" style="padding-left: 25%">1905</td> +<td class="right" style="padding-left: 30%">378,411,054</td> +</tr> +<tr> +<td class="left">1896</td> +<td class="right" style="padding-left: 5%">211,242,081</td> +<td class="left" style="padding-left: 25%">1906</td> +<td class="right" style="padding-left: 30%">405,551,022</td> +</tr> +<tr> +<td class="left">1897</td> +<td class="right" style="padding-left: 5%">237,833,984</td> +<td class="left" style="padding-left: 25%">1907</td> +<td class="right" style="padding-left: 30%">411,294,458</td> +</tr> +<tr> +<td class="left">1898</td> +<td class="right" style="padding-left: 5%">287,327,833</td> +<td class="left" style="padding-left: 25%">1908</td> +<td class="right" style="padding-left: 30%">443,434,527</td> +</tr> +<tr> +<td class="left">1899</td> +<td class="right" style="padding-left: 5%">311,505,947</td> +<td class="left" style="padding-left: 25%">1909</td> +<td class="right" style="padding-left: 30%">459,927,482</td> +</tr> +<tr> +<td class="left">1900</td> +<td class="right" style="padding-left: 5%">258,829,703</td> +<td class="left" style="padding-left: 25%">1910</td> +<td class="right" style="padding-left: 30%">469,365,110</td> +</tr> +<tr> +<td class="left">1901</td> +<td class="right" style="padding-left: 5%">260,877,429</td> +<td class="left" style="padding-left: 25%">1911</td> +<td class="right" style="padding-left: 30%">473,383,543</td> +</tr> +</table> +<p> </p> +<p class="center">UNITED STATES SILVER PRODUCTION<br /> +(In Fine Ounces)</p> + +<table style="margin-left: 20%; font-size: 10pt; " summary="Silver Production Statistics"> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 25mm"><span style="font-size: 8pt; text-decoration: underline">1910</span></td> +<td class="right" style="padding-left: 5mm"><span style="font-size: 8pt; text-decoration: underline">1911</span></td> +</tr> +<tr> +<td class="left" >Alabama</td> +<td class="right" style="padding-left: 25mm">300</td> +<td class="right" style="padding-left: 5mm">174</td> +</tr> +<tr> +<td class="left" >Alaska</td> +<td class="right" style="padding-left: 25mm">153,900</td> +<td class="right" style="padding-left: 5mm">275,691</td> +</tr> +<tr> +<td class="left" >Arizona</td> +<td class="right" style="padding-left: 25mm">2,655,700</td> +<td class="right" style="padding-left: 5mm">1,594,428</td> +</tr> +<tr> +<td class="left" >California</td> +<td class="right" style="padding-left: 25mm">1,791,600</td> +<td class="right" style="padding-left: 5mm">2,727,336</td> +</tr> +<tr> +<td class="left" >Colorado</td> +<td class="right" style="padding-left: 25mm">8,523,000</td> +<td class="right" style="padding-left: 5mm">7,530,940</td> +</tr> +<tr> +<td class="left" >Georgia</td> +<td class="right" style="padding-left: 25mm">300</td> +<td class="right" style="padding-left: 5mm">225</td> +</tr> +<tr> +<td class="left" >Idaho</td> +<td class="right" style="padding-left: 25mm">7,027,000</td> +<td class="right" style="padding-left: 5mm">7,507,802</td> +</tr> +<tr> +<td class="left" >Illinois</td> +<td class="right" style="padding-left: 25mm">2,100</td> +<td class="right" style="padding-left: 5mm">4,648</td> +</tr> +<tr> +<td class="left" >Michigan</td> +<td class="right" style="padding-left: 25mm">262,200</td> +<td class="right" style="padding-left: 5mm">507,234</td> +</tr> +<tr> +<td class="left" >Maryland</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">87</td> +</tr> +<tr> +<td class="left" >Missouri</td> +<td class="right" style="padding-left: 25mm">32,200</td> +<td class="right" style="padding-left: 5mm">56,228</td> +</tr> +<tr> +<td class="left" >Montana</td> +<td class="right" style="padding-left: 25mm">12,282,900</td> +<td class="right" style="padding-left: 5mm">10,651,571</td> +</tr> +<tr> +<td class="left" >Nevada</td> +<td class="right" style="padding-left: 25mm">12,366,000</td> +<td class="right" style="padding-left: 5mm">507,234</td> +</tr> +<tr> +<td class="left" >N.Mexico</td> +<td class="right" style="padding-left: 25mm">779,000</td> +<td class="right" style="padding-left: 5mm">1,142,335</td> +</tr> +<tr> +<td class="left" >N.Carolina</td> +<td class="right" style="padding-left: 25mm">8,300</td> +<td class="right" style="padding-left: 5mm">2,227</td> +</tr> +<tr> +<td class="left" >Oklahoma</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">168,245</td> +</tr> +<tr> +<td class="left" >Oregon</td> +<td class="right" style="padding-left: 25mm">43,800</td> +<td class="right" style="padding-left: 5mm">69,116</td> +</tr> +<tr> +<td class="left" >Pennsylvania</td> +<td class="right" style="padding-left: 25mm">700</td> +<td class="right" style="padding-left: 5mm">13,262</td> +</tr> +<tr> +<td class="left" >S.Carolina</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">14</td> +</tr> +<tr> +<td class="left" >S.Dakota</td> +<td class="right" style="padding-left: 25mm">120,600</td> +<td class="right" style="padding-left: 5mm">206,188</td> +</tr> +<tr> +<td class="left" >Tennessee</td> +<td class="right" style="padding-left: 25mm">69,800</td> +<td class="right" style="padding-left: 5mm">126,683</td> +</tr> +<tr> +<td class="left" >Texas</td> +<td class="right" style="padding-left: 25mm">364,400</td> +<td class="right" style="padding-left: 5mm">442,486</td> +</tr> +<tr> +<td class="left" >Utah</td> +<td class="right" style="padding-left: 25mm">10,445,900</td> +<td class="right" style="padding-left: 5mm">12,679,633</td> +</tr> +<tr> +<td class="left" >Virginia</td> +<td class="right" style="padding-left: 25mm">200</td> +<td class="right" style="padding-left: 5mm">45</td> +</tr> +<tr> +<td class="left" >Washington</td> +<td class="right" style="padding-left: 25mm">204,900</td> +<td class="right" style="padding-left: 5mm">142,196</td> +</tr> +<tr> +<td class="left" >Wyoming</td> +<td class="right" style="padding-left: 25mm">1,300</td> +<td class="right" style="padding-left: 5mm">1,009</td> +</tr> +<tr> +<td class="left" >Porto Rico</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">51</td> +</tr> +<tr> +<td class="left" >Philippines</td> +<td class="right" style="padding-left: 25mm">1,800</td> +<td class="right" style="padding-left: 5mm">3,383</td> +</tr> +<tr> +<td class="left" >Miscellaneous</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">826,102</td> +</tr> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 25mm">__________</td> +<td class="right" style="padding-left: 5mm">__________</td> +</tr><tr> +<td class="left" >Total</td> +<td class="right" style="padding-left: 25mm">57,137,900</td> +<td class="right" style="padding-left: 5mm">57,796,117</td> +</tr> +</table> + +<p> </p> +<p><span class="pagenum"><a name="Page_37" id="Page_37">[37]</a></span></p> + + +<p class="center">UNITED STATES GOLD PRODUCTION<br /> +(In Value)</p> + +<table style="margin-left: 20%; font-size: 10pt; " summary="Gold Production Value"> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 25mm"><span style="font-size: 8pt; text-decoration: underline">1910</span></td> +<td class="right" style="padding-left: 5mm"><span style="font-size: 8pt; text-decoration: underline">1911</span></td> +</tr> +<tr> +<td class="left" >Alabama</td> +<td class="right" style="padding-left: 25mm">$32,900</td> +<td class="right" style="padding-left: 5mm">$18,335</td> +</tr> +<tr> +<td class="left" >Alaska</td> +<td class="right" style="padding-left: 25mm">16,271,800</td> +<td class="right" style="padding-left: 5mm">16,002,976</td> +</tr> +<tr> +<td class="left" >Arizona</td> +<td class="right" style="padding-left: 25mm">3,413,200</td> +<td class="right" style="padding-left: 5mm">2,954,790</td> +</tr> +<tr> +<td class="left" >California</td> +<td class="right" style="padding-left: 25mm">20,441,400</td> +<td class="right" style="padding-left: 5mm">20,310,987</td> +</tr> +<tr> +<td class="left" >Colorado</td> +<td class="right" style="padding-left: 25mm">20,526,500</td> +<td class="right" style="padding-left: 5mm">19,153,860</td> +</tr> +<tr> +<td class="left" >Georgia</td> +<td class="right" style="padding-left: 25mm">24,000</td> +<td class="right" style="padding-left: 5mm">30,532</td> +</tr> +<tr> +<td class="left" >Idaho</td> +<td class="right" style="padding-left: 25mm">1,035,000</td> +<td class="right" style="padding-left: 5mm">1,169,261</td> +</tr> +<tr> +<td class="left" >Illinois</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">5,788</td> +</tr> +<tr> +<td class="left" >Michigan</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">20</td> +</tr> +<tr> +<td class="left" >Maryland</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">20</td> +</tr> +<tr> +<td class="left" >Montana</td> +<td class="right" style="padding-left: 25mm">3,720,400</td> +<td class="right" style="padding-left: 5mm">3,169,840</td> +</tr> +<tr> +<td class="left" >Nevada</td> +<td class="right" style="padding-left: 25mm">18,783,700</td> +<td class="right" style="padding-left: 5mm">18,968,578</td> +</tr> +<tr> +<td class="left" >New Mexico</td> +<td class="right" style="padding-left: 25mm">477,200</td> +<td class="right" style="padding-left: 5mm">639,897</td> +</tr> +<tr> +<td class="left" >N.Carolina</td> +<td class="right" style="padding-left: 25mm">64,500</td> +<td class="right" style="padding-left: 5mm">76,693</td> +</tr> +<tr> +<td class="left" >Oklahama</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">30,698</td> +</tr> +<tr> +<td class="left" >Oregon</td> +<td class="right" style="padding-left: 25mm">18,783,700</td> +<td class="right" style="padding-left: 5mm">18,968,578</td> +</tr> +<tr> +<td class="left" >Pennsylvania</td> +<td class="right" style="padding-left: 25mm">18,783,700</td> +<td class="right" style="padding-left: 5mm">18,968,578</td> +</tr> +<tr> +<td class="left" >S.Carolina</td> +<td class="right" style="padding-left: 25mm">37,800</td> +<td class="right" style="padding-left: 5mm">13,437</td> +</tr> +<tr> +<td class="left" >S.Dakota</td> +<td class="right" style="padding-left: 25mm">5,380,200</td> +<td class="right" style="padding-left: 5mm">7,430,367</td> +</tr> +<tr> +<td class="left" >Tennessee</td> +<td class="right" style="padding-left: 25mm">2,800</td> +<td class="right" style="padding-left: 5mm">14,140</td> +</tr> +<tr> +<td class="left" >Texas</td> +<td class="right" style="padding-left: 25mm">400</td> +<td class="right" style="padding-left: 5mm">1,178</td> +</tr> +<tr> +<td class="left" >Utah</td> +<td class="right" style="padding-left: 25mm">4,312,700</td> +<td class="right" style="padding-left: 5mm">4,709,747</td> +</tr> +<tr> +<td class="left" >Virginia</td> +<td class="right" style="padding-left: 25mm">900</td> +<td class="right" style="padding-left: 5mm">4,300</td> +</tr> +<tr> +<td class="left" >Washington</td> +<td class="right" style="padding-left: 25mm">806,000</td> +<td class="right" style="padding-left: 5mm">504,537</td> +</tr> +<tr> +<td class="left" >Wyoming</td> +<td class="right" style="padding-left: 25mm">4,100</td> +<td class="right" style="padding-left: 5mm">18,791</td> +</tr> +<tr> +<td class="left" >Porto Rico</td> +<td class="right" style="padding-left: 25mm">1,000</td> +<td class="right" style="padding-left: 5mm">2,191</td> +</tr> +<tr> +<td class="left" >Philippines</td> +<td class="right" style="padding-left: 25mm">154,400</td> +<td class="right" style="padding-left: 5mm">130,501</td> +</tr> +<tr> +<td class="left" >Miscellaneous</td> +<td class="right" style="padding-left: 25mm"> </td> +<td class="right" style="padding-left: 5mm">265,013</td> +</tr> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 25mm">__________</td> +<td class="right" style="padding-left: 5mm">__________</td> +</tr> +<tr> +<td class="left" >Total</td> +<td class="right" style="padding-left: 25mm">$96,269,100</td> +<td class="right" style="padding-left: 5mm">$96,233,528</td> +</tr> +</table> + +<p> </p> +<p class="center">GOLD PRODUCTION OF THE WORLD</p> + +<p><span class="pagenum"><a name="Page_38" id="Page_38">[38]</a></span></p> + +<table style="margin-left: 15%; font-size: 10pt; " summary="World Gold Production"> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 5mm"><span style="font-size: 8pt; text-decoration: underline">1910</span></td> +<td class="right" style="padding-left: 5mm"><span style="font-size: 8pt; text-decoration: underline">1911</span></td> +</tr> +<tr> +<td class="left" >Transvaal</td> +<td class="right" style="padding-left: 5mm">$155,730,260</td> +<td class="right" style="padding-left: 5mm">$170,487,900</td> +</tr> +<tr> +<td class="left" >United States including Alaska</td> +<td class="right" style="padding-left: 5mm">96,269,100</td> +<td class="right" style="padding-left: 5mm">96,233,528</td> +</tr> +<tr> +<td class="left" >Australia</td> +<td class="right" style="padding-left: 5mm">65,634,340</td> +<td class="right" style="padding-left: 5mm">61,072,409</td> +</tr> +<tr> +<td class="left" >Russia</td> +<td class="right" style="padding-left: 5mm">43,168,389</td> +<td class="right" style="padding-left: 5mm">40,600,000</td> +</tr> +<tr> +<td class="left" >Mexico</td> +<td class="right" style="padding-left: 5mm">24,073,100</td> +<td class="right" style="padding-left: 5mm">19,500,000</td> +</tr> +<tr> +<td class="left" >Rhodesia</td> +<td class="right" style="padding-left: 5mm">12,607,791</td> +<td class="right" style="padding-left: 5mm">13,045,100</td> +</tr> +<tr> +<td class="left" >India</td> +<td class="right" style="padding-left: 5mm">12,089,400</td> +<td class="right" style="padding-left: 5mm">10,505,506</td> +</tr> +<tr> +<td class="left" >Canada</td> +<td class="right" style="padding-left: 5mm">10,224,910</td> +<td class="right" style="padding-left: 5mm">10,646,000</td> +</tr> +<tr> +<td class="left" >China</td> +<td class="right" style="padding-left: 5mm">10,102,300</td> +<td class="right" style="padding-left: 5mm">10,000,000</td> +</tr> +<tr> +<td class="left" >Japan, East Indies, etc.</td> +<td class="right" style="padding-left: 5mm">10,522,437</td> +<td class="right" style="padding-left: 5mm">10,600,000</td> +</tr> +<tr> +<td class="left" >West Africa</td> +<td class="right" style="padding-left: 5mm">3,674,087</td> +<td class="right" style="padding-left: 5mm">5,268,100</td> +</tr> +<tr> +<td class="left" >Madagascar</td> +<td class="right" style="padding-left: 5mm">2,149,721</td> +<td class="right" style="padding-left: 5mm">1,900,000</td> +</tr> +<tr> +<td class="left" >France</td> +<td class="right" style="padding-left: 5mm">1,114,700</td> +<td class="right" style="padding-left: 5mm">1,275,000</td> +</tr> +<tr> +<td class="left" >Central and South America</td> +<td class="right" style="padding-left: 5mm">14,886,234</td> +<td class="right" style="padding-left: 5mm">15,000,000</td> +</tr> +<tr> +<td class="left" >Other countries</td> +<td class="right" style="padding-left: 5mm">7,118,841</td> +<td class="right" style="padding-left: 5mm">7,250,000</td> +</tr> +<tr> +<td class="left" > </td> +<td class="right" style="padding-left: 5mm">__________</td> +<td class="right" style="padding-left: 5mm">__________</td> +</tr> +<tr> +<td class="left" >Total</td> +<td class="right" style="padding-left: 5mm">$469,365,610</td> +<td class="right" style="padding-left: 5mm">$473,383,543</td> +</tr> +</table> + +<p> </p> +<p><span class="pagenum"><a name="Page_39" id="Page_39">[39]</a></span></p> + + + + +<h2><a name="chap5" id="chap5">V<br/>THE FINDING OF MINES.</a> +</h2> + + +<p>Mines are discovered in many ways. +One hears much about prospecting, and +since this is a practice which is rapidly +changing from a mystical to a scientific +basis, a few considerations will here be +in order.</p> + +<p>Persons who have lived in mining +communities are familiar with two types +of prospector, the roving and the settled. +Somehow, when we think of the former, +there comes to mind a bearded, roughly +clad man, usually accompanied by a +"jack" and both packing the outfit consisting +of a few tools, a pan, some blankets, +a gun, and a supply of "grub." If +we have in mind the other type of prospector, +we imagine him as living an +isolated life in a log cabin up in the hills, +spending his daytime in putting in a few, +short drill-holes and blasting down a ton +or two of usually worthless rock in a +<span class="pagenum"><a name="Page_40" id="Page_40">[40]</a></span> +"tunnel" or shallow shaft, confident that +each succeeding shot will disclose a +treasure.</p> + +<p>Both of these types represent the +utmost in optimism. These men endure +many hardships and privations, they can +have little converse with other humans, +often they can see no provisions for the +next day; in fact, they receive few of the +benefits of modern civilization—if we +except the food-preserving features. Still, +a typical, old-style prospector keeps on +with absolute faith that fortune will +smile tomorrow. We must reach the +conclusion that these uneducated men +are led on by subtle beliefs which, to a +technically-trained man, seem like the +rankest folly. They are diviners, dreamers. +They are disappearing now and, a +generation hence, there will be but memories +of them. They are giving way to +successors of a different type.</p> + +<p>The newer kind of prospector is well +educated, and, perchance, he is rather +youthful. His chances of success are +many times those of the man he supplants. +Why? Because he is taking +<span class="pagenum"><a name="Page_41" id="Page_41">[41]</a></span> +advantage of the work that has been done +by all former prospectors. He is guided +by theories deduced from observations +through ages, and he has the advice of +the best contemporary men of experience +in matters of geology as applied to mining. +In other words, he is a scientific +prospector.</p> + +<p>The prospector of today has a general +understanding of mineralogy and geology; +he must have knowledge of mining methods, +so that he may know whether a +deposit, once found, can be exploited at +a profit; he must be ready to account for +all discovered mineral bodies, and he +must be capable of applying theories to +actualities.</p> + +<p>There are so many metals and minerals +sought for the markets of the world today +that we see there are many fields of study +and practice open to prospectors. It is +not the purpose here to explain the +details of scientific prospecting, for the +study of this one subject would, in itself, +fill a volume. The object of the above +remarks is to draw to the attention of the +economist the propriety (amounting almost +<span class="pagenum"><a name="Page_42" id="Page_42">[42]</a></span> +to a necessity) of giving heed to the +findings of the educated, trained searcher +for mineral bodies, in preference to those +of the illiterate man who has furnished +themes for artists, narrators, and dramatists, +because of his quaint characteristics.</p> + +<p>Some writers have classified mineral +discoveries into Search, Chance and Adventitious.</p> + +<p><i>Search</i> discoveries, being the rewards +of earnest seeking, it is not surprising that, +under the past guide of notions and +mysticism, the percentage of such discoveries +has been small. Under the new +order of things, with science as a guide, +the percentage is growing and, in the +future, this kind of discovery will undoubtedly +strongly outnumber the others.</p> + +<p><i>Chance</i> discoveries are those that are +made purely without premeditation. +They have been a dominant factor in +the mineral development of the past. +The discovery of <i>gold</i> in California came +about through the noticing of shiny, yellow +flakes of metal in a ditch leading to a +saw-mill. The great <i>iron</i> mines of the +Mesabi Range were found by the ore +<span class="pagenum"><a name="Page_43" id="Page_43">[43]</a></span> +clinging to the roots of an overturned +tree. The Wallaroo <i>copper</i> mine, the +greatest in Australia, was discovered by +the green minerals brought to the surface +in the excavations of a wombat. The +famous Sudbury <i>nickel-silver</i> ore bodies +were disclosed when making a railroad +cut on the Canadian Pacific Railroad. +The Reddington <i>quicksilver</i> mine, in California, +was similarly opened in a cut for +a wagon road. The mining of <i>silver</i> at +Catorce, Mexico, followed the discovery +of shining silver nuggets in the camp-fire +of a native, who had camped right upon +a rich outcrop. The Kimberly <i>diamond</i> +mines are said to have been disclosed by +the burrowings of an ichneumon, which +fetched a brilliant stone to the sunlight.</p> + +<p><i>Adventitious</i> finds are such as occasionally +occur when, while really searching +for, or actually mining, one metal, +discovery is made of a different metal, or +possibly the same metal is found in an +entirely different kind of ore. The Comstock +lode of Nevada was originally a +<i>search</i> gold discovery, the gold having +been sought and found by two prospectors +<span class="pagenum"><a name="Page_44" id="Page_44">[44]</a></span> +with ordinary gold pans. In their +working to recover gold, a black mineral +and a yellow sand were discarded from +the pans and rockers. Curiosity of one +man resulted in the identification of these +two minerals as ores of silver which henceforth +were held as valuable as the native +gold. The Anaconda mine, at Butte, +Montana, was located, and for some time +worked as a silver proposition; but the +values gradually changed with depth +from silver to copper, until now silver is +only a valuable by-product. The rich +lead-silver ores of Leadville were discovered +as <i>adventitious</i> to the operation +of the rich gold placers in California +Gulch. A heavy, troublesome rock which +accumulated in the sluices, much to +the disgust of the miners, turned out +to be cerussite, a fine ore of lead. This +same district now produces in commercial +amounts gold, silver, lead, iron, zinc, +copper, and manganese. The Treadwell +mine on Douglas Island, Alaska, was +first worked as a placer and the values +were found to extend downward into the +underlying rock in a place which proved +<span class="pagenum"><a name="Page_45" id="Page_45">[45]</a></span> +to be an immense deposit of eruptive, +gold-bearing ore.</p> + +<p>As the old-fashioned, venturesome kind +of prospecting has but recently been +crowded off the scene by the better, +scientific kind, let us not overlook the +great discoveries that were made in the +past before we had applied "organized +common sense" to such a field of activity. +Those original prospectors were searchers, +hunters. They had no guides, but they +did accomplish a great deal, and their +discoveries were rewards for diligence +and hard labor which were, to a great +extent, often misdirected. +<span class="pagenum"><a name="Page_46" id="Page_46">[46]</a></span></p> + + + + +<h2><a name="chap6" id="chap6">VI<br/>MINING CLAIMS.</a> +</h2> + + +<p>The process of acquiring title to mining +property may be viewed from a +number of points. Such property is real +estate and, as such, it may be bought +and sold or otherwise transferred exactly +the same as farms or city lots.</p> + +<p>The United States has constructed an +elaborate system for the disposal of its +public lands to individuals, under various +classifications, such as homestead, desert +land, timber and stone, timber culture, +coal, placer, and lode claims. Different +rules apply to the filing upon, improvement +and patenting (acquiring deed from +the Government) of these various kinds +of claims. The character of the lands in +the public domain is decided by the surveyors +who execute contracts from the +General Land Office for subdividing or +staking the country off into townships +and sections, according to our American +system. In the return of each surveyor's +<span class="pagenum"><a name="Page_47" id="Page_47">[47]</a></span> +notes, he recommends the sale of the +land according to his judgment as to its +highest value. There has naturally been +a good deal of erroneous conception upon +these points, with the result that, often, +land has been later shown to be entirely +different in its character from the classification +given to it by the contracting +surveyor; for the qualifications of such +a person are not always of a high grade, +when it comes to geological questions. +And yet, on the whole, the scheme has +worked out well and much fraud against +the Government has been prevented by +the rigid practice.</p> + +<p>The Government prices for some of the +various classes of land have been as follows: +agricultural, $1.25 per acre; coal, +$10 per acre when the land was not closer +to a railroad than 15 miles, and $20 per +acre when it lay within this limit; placer, +$2.50 per acre; lode, $5 per acre. These +have been the prices demanded for the +land only; the payment of these amounts, +in many cases, has constituted a small +fraction of the expense of securing the original +deeds from the Federal Government. +<span class="pagenum"><a name="Page_48" id="Page_48">[48]</a></span></p> + +<p>Coal lands may be located very much +the same as a homestead, with the exception +that residence upon the ground is not +required, nor are improvements essential. +In cases of dispute as to priority of location, +the land office will recognize those +claimants who have expended the greater +amounts in improvements. One citizen +may locate but one claim of 160 acres.</p> + +<p>Since April 10, 1909, the Government +has been disposing of its public coal lands +under a classification that takes note of +many details. The kind, grade, thickness, +and purity of coal; the number of workable +seams; the depth; the features of +local supply; transportation facilities; and +the average prices at which similar private +tracts are held, are among the items +recognized in the classification. Probably +no two tracts will be sold at the same +rate. In general, the new prices are higher +than the flat prices that formerly prevailed +and some pieces of land are now +estimated as high as $175 per acre. In +every case of application to purchase +coal land, hereafter, the area in question +will undergo inspection by Government +<span class="pagenum"><a name="Page_49" id="Page_49">[49]</a></span> +experts and a price will then be assessed. +This law is being severely opposed as +being unreasonably severe, and its amendment +may be looked for.</p> + +<p>Placer lands were formerly permitted +to be taken up in any shape, the boundary +stakes being placed upon the ground in +such a manner as to include only the +desirable area, which is usually of an +alluvial nature along some valley or gulch. +This practice has been forbidden, however, +and a locator is now obliged to take +up his land in quadrilateral tracts conforming +to the subdivisions of the so-called +Public Survey. By this rule, it is +permissible to file upon land which is laid +off into lots of not less than 1/16 of a +quarter section—or ten acres—and a +claim may be composed of such lots as +lie contiguously and which may thus be +considered as one complete workable area. +The claims are often of zigzag or L shapes, +but the locator is enabled, at the extra +expense of subdivision surveying, to avoid +filing upon, and paying for, much ground +that he feels is not desirable in a placer +claim. The Government does not survey +<span class="pagenum"><a name="Page_50" id="Page_50">[50]</a></span> +public domain into smaller tracts than +quarter sections of 160 acres each, so +that in the taking up of placers it often +involves a great deal of expense to carry +the subdivisions upon the ground into +sufficient detail to ascertain the location +of boundary corners.</p> + +<p>One person is entitled to as many +placer claims as he desires. Each claim +of a single individual may contain not +to exceed 20 acres and, as said, it must +be of one continuous area. Associations +of citizens to the number of eight may +unite in the location of 160 acres, which +will then be held in equal and common +interest by the several locators. The +restraint placed upon greed in the matter +of locations, either placer or lode, lies in +certain expenses entailed in work or +improvements upon the land before patent +may be issued and the legal requirement +of the performance of labor upon +each claim amounting to $100 per annum. +Also, it is required that <i>bona fide</i> values +be disclosed upon the ground. For each +20 acres located under the placer laws of +the United States, not less than $500 +<span class="pagenum"><a name="Page_51" id="Page_51">[51]</a></span> +worth of improvements must be made +before the issuance of a patent.</p> + +<p>The legal (not the technical) definition +of lode land covers all grounds containing +deposits of ore in its natural and original +place of deposit. Under the laws, therefore, +a citizen may file upon a tract of +land to include a vein, lode, mass, chimney +or any other form of ore body. The +laws were framed at a time when miners +were familiar only with the steep, tabular +forms, synonymously termed veins or +lodes in their nomenclature, and there +were introduced features which time and +progress in geological investigations have +proved to be entirely unsuited to the +needs of locators in many districts.</p> + +<p>Our statutes provide that a lode claim +may not exceed an area of 20,662 acres, +this being the area of a parallelogram +1,500 feet long by 600 feet wide. The +intention is to permit a discoverer to lay +off a "lode line" along the outcrop of +his vein for a distance of 1,500 feet and, +at each end, to measure off, at right +angles, a distance of 300 feet each way, +merely as assurance that he covers the +<span class="pagenum"><a name="Page_52" id="Page_52">[52]</a></span> +entire thickness of his lode. Since the +surface contours of rugged country will +crook the outcrop of a dipping plane (such +as we may imagine a vein to be) the laws +were constructed to permit a claim being +laid off with angles or bends in the boundaries +so that the outcrop might be kept +closely along the middle of the claim.</p> + +<p>The above dimensions and area are +the maximum permissible under the Federal +laws. The Government does not +say that claims may not be less in extent, +anywhere, nor does it prevent states, +counties or even mining districts from +making further limitations. In most of +the western mining states and territories +that have applied the mining law, the +full maximum is allowed; but in Colorado +no claim is legal if it exceeds a +width of 300 feet, while in four counties +of the same state claims have been +restricted in width to 150 feet. By legislative +enactment, since September 1, +1911, claims in all counties of Colorado +are permitted to be taken up 300 feet +in width. The citizens or miners of any +new district, in any state or territory, +<span class="pagenum"><a name="Page_53" id="Page_53">[53]</a></span> +may elect to limit claims to any size less +than the maximum granted by the statutes +and such a decision will be recognized +by courts as binding upon all comers. +This is an example of the rights of custom +in establishing common law. In all +shapes and widths of lode claims, there is +now the rigid restriction that the two +end-lines must be laid off exactly parallel.</p> + +<p class="center"><a name="illus7" id="illus7"><img src="images/illus7.jpg" alt="A Gilpin County, Colorado, Scene" /></a></p> +<p class="caption">A Gilpin County, Colorado, Scene,<br /> +Showing the Prize, Gunnell, Concrete, Gold Collar, and Eureka Mines.</p> + +<p>The laws of our country contemplate +the right of any locator of a vein to follow +such vein down upon its dip, even if it +extends beyond vertical planes passed +through the side boundaries. The vertical +planes through the end-lines, however, +may not lawfully be penetrated in +the extraction of ore bodies. The application +of this doctrine of "extra-lateral +rights" has led to innumerable controversies +that have crippled many worthy +mining enterprises. The inevitable habit +of different veins to intersect, branch, +unite, and in many other ways to cause +complications, has served no purpose but +to delay operations, cause legal warfare +and embitter neighbors. So unjust have +been courts' decisions in interpreting<span class="pagenum"><a name="Page_54" id="Page_54">[54]</a></span> +the lax laws that various mining districts +have taken unto themselves the prerogative +of deciding for themselves what is +justice to all concerned; and we therefore +find that many "camps" have unwritten +laws under which claimants are restrained +in their underground operations, to the +ground contained between vertical planes +<i>through all boundaries</i>, whether end or side. +This is obviously the only fair plan, and it +is hoped that, whenever the legislators at +Washington get time to give to the matter +the attention it deserves, our nation will +be favored with a revision of this and a +number of other objectionable mining laws +which have retarded the industry. Ours +is the only country having laws permitting +extra-lateral rights and, upon this score, +we are criticized by all foreigners.</p> + +<p>The Canadian government appears to +leave the framing of mining laws to the +several provincial governments. Ontario +and Quebec have very good and simple +laws relative to mining claims. In some +respects the laws of the two provinces +are similar. For example, in each province +a claim must be laid out as a subdivision +<span class="pagenum"><a name="Page_55" id="Page_55">[55]</a></span> +of the usual public survey and is +normally 40 acres in extent. Again, no +prospecting or locating may be done except +by persons holding so-called miners' +licenses or miners' certificates, which +cost $5 to $10 per year. No extra-lateral +rights are recognized.</p> + +<p>In Ontario, a patent may be applied +for any time within 3-1/2 years of the date +of certificate of record, and the land is +purchased outright by the payment of +$3 per acre. The patent thus obtained +conveys no rights to timber or water on +the property. In Quebec, patents are +never issued and mining claims are held +by a sort of lease, as it were. A license +to hold a mining claim costs a flat fee +of $10, plus an extra fee of one dollar +per acre. At times, arrangements are +made for holding and working mining +property upon a 3 per cent royalty basis.</p> + +<p>The Mexican laws permit the location +of any number of claims by individuals. +A locator is required to employ an expert +(<i>perito</i>) to make a careful survey of his +claims (<i>pertinencias</i>), which are taken up +in rectangular form. Measurements are +<span class="pagenum"><a name="Page_56" id="Page_56">[56]</a></span> +according to the metric system, and the +unit of area is the <i>hectara</i>, which is the +area of a square with 100-meter (328-feet) +sides, and is equivalent to 2.471 acres. The +government's sale price for mineral ground +is 5 <i>pesos</i> (about $2.50) per hectare, or +approximately one dollar, United States +money, per acre. The unit size of a claim +is a hectare, and it thus comes about that +the words <i>pertinencia</i> and <i>hectara</i> are used +somewhat synonymously.</p> + +<p>Under United States laws, the owner +of agricultural land, if he has not committed +perjury in perfecting his title, +will hold all minerals which may be disclosed +subsequently to the granting of +his deed. The proof of false representations +will rescind any such patent and +the ground will revert to the Government +and be again open to location.</p> + +<p>In the surveying and laying off of +mineral claims for patent purposes, the +United States laws require the claimant +to put the work into the hands of a +mineral surveyor. Such a surveyor may +usually be engaged in any mining district +and he will hold a commission from the +<span class="pagenum"><a name="Page_57" id="Page_57">[57]</a></span> +Department of the Interior authorizing +him to do this sort of work. He will have +passed certain examinations as to his +capabilities and he will have filed bonds +in the sum of $5,000 for the faithful +performance of his duties to both the +Government and his client. He receives +no compensation from the Government, +and each claimant may make such terms +with him as are equitable. He must hold +no interest, directly or otherwise, in the +property he surveys, nor is he permitted +to file upon any mineral land. If he +undertakes a case for a client his duties +require him to survey the boundaries of +every other mineral claim which may be +contiguous to, or conflicting with, the +one in question, and his maps must +accurately show all such claims. His +notes will contain sufficient data to accurately +convey the exact location, the +chief topographical features, the conflicts +with all other locations, the position, +and description of all mining improvements, +and many other details which +will be required in the final purchase of +the land from the Government. The +<span class="pagenum"><a name="Page_58" id="Page_58">[58]</a></span> +surveyor's fee will vary from $50 to +possibly $200 for a single claim, much +depending upon the nature of the survey, +whether simple or difficult, and upon local +financial conditions and competition.</p> + +<p>After the filing of the mineral surveyor's +notes and plats with the Surveyor-General, +critical examination of the documents +is made, and if they are found to +conform with all requirements, the case +is "approved" and it may then pass to +the local land office of the district. Next +begins a publication period of sixty days, +during which opportunity is offered the +public to enter objections to the issuance +of a patent, either for reasons of conflict +or because of fraud. If no such adverse +proceedings are instituted, the patent +will follow, in due time.</p> + +<p>The ultimate expense of securing a +patent to a claim of, say, the maximum +area will not be less than $225, and it +may run as high as $300 if in a region +difficult to survey or if there are a good +many conflicting surveys.</p> + +<p>A mineral surveyor is prohibited from +acting as attorney for the claimant in +<span class="pagenum"><a name="Page_59" id="Page_59">[59]</a></span> +presenting his claims before the Land +Office, so an attorney's fee must be added +to the above rough estimates. As a +matter of fact, although the surveyor +does not nominally appear as the attorney, +in many a case it is he who makes out all +of the documents to be then signed by an +attorney in fact. The laws are faulty in +this respect. The lawyer recognizes this +fact and he asks the surveyor to make +out the many legal forms; for who is so +fully cognizant of the property and the +desires of the claimant as the surveyor +who has become intimately acquainted +with the premises, its workings, its desirable +features and everything concerned +with the adjustment of conflicts? It is +to be expected that he could best protect +the claimant's interests, and it is wrong +to retire him at this very critical time +prescribed by a foolish law. The fee of +an additional man in the case is an unjust +burden upon the client. Land Office +officials have recognized this fact. They +know that the best documents reaching +their offices are those prepared by mineral +surveyors. +<span class="pagenum"><a name="Page_60" id="Page_60">[60]</a></span></p> + + + +<h2><a name="chap7" id="chap7">VII<br/>PLACERING.</a> +</h2> + +<p>Different writers hold the following +slightly different definitions of a placer: +One says, "a placer is a surface <i>accumulation</i> +of minerals in the wash of streams +and seas," while another writes that a +placer is "a <i>place</i> where surface depositions +<i>are washed</i> for valuable minerals, +such as gold, tin, tungsten, gems, etc." +One definition conveys no notion of the +operations of mining, but is merely geological, +while the other involves the +thought of the recovery of values.</p> + +<p>No matter how or where found, placers +were all originally of surface deposition. +They are now found in gulches, caņons, +valleys, ocean and lake beaches, glacial +drifts, and sometimes beneath eruptive +flows. Such placers as occupy the courses +of streams are spoken of as gulch, valley, +bar, and bench placers. The meanings +of the first three names are obvious. By +a bench placer is understood a deposit +<span class="pagenum"><a name="Page_61" id="Page_61">[61]</a></span> +that was originally the bed of a stream, +but which, in the course of time, has +been cut down, or through, in such a +manner as to leave a shelf or bench of +the "wash" hanging up some distance +above the present base of the gulch or +valley.</p> + +<p>When such deposits that have been +covered by lava flows are disclosed and +worked, they go by the name of "buried +placers." They are, by no means, uncommon, +and typical "drift mines" of +this sort are operated in California and +New Zealand. They present the novelty +of working alluvial deposits under cover +of solid rocks, and they thus conform to +one of the early definitions of a mine, as +previously given. Since the workings of +such subterranean placers are generally +confined to an approximately horizontal +zone, the mine passages, to a certain +degree, resemble those of a coal mine.</p> + +<p>Placer deposits, being of a secondary +nature, the materials are not in the place +nor form of the original components. +The gravels and sands, together with the +valuable contents, probably originally existed +<span class="pagenum"><a name="Page_62" id="Page_62">[62]</a></span> +in some solid forms such as rocks +or massive minerals. The primary structures, +in the course of ages and by +atmospheric agencies, have been disintegrated +and carried by gravity and flowing +water to lower levels. The finer the +decomposed material, the further it has +been transported.</p> + +<p>If the original rocks carried gold, the +flakes of the metal, being of high specific +gravity, would tend to settle to the +bottom of the channels and to be carried +shorter distances than would the lighter, +non-metallic particles. The finer the +gold, the more evenly will it be distributed +in the bed of gravel. Likewise, placers +near the heads of gulches, as a rule, carry +coarser gold than those farther down +stream.</p> + +<p>The valuable materials found in placers +must, of necessity, be those that possess +the property of resisting corrosion and +disintegration. The minerals and metals +are, therefore, of a very permanent +character.</p> + +<p>Every find of "values" in a placer is +unquestioned evidence that somewhere, +<span class="pagenum"><a name="Page_63" id="Page_63">[63]</a></span> +above the present deposit, there originally +existed primary depositions containing +the valuable metals or minerals. The +trail can frequently be traced back to +them. These so-called "mother lodes" +are not necessarily rich. In the case of +gold, for instance, these original deposits +of ore may not carry the metal in coarse +enough particles to be visible and yet +the placers may contain nuggets. There +are numerous theories proposed to account +for this observed phenomenon, +but we will not discuss them here. The +fact remains that nuggets have been +actually produced artificially in flowing +water under conditions similar to Nature's.</p> + +<p>The methods of prospecting and working +placer ground have undergone many +improvements, but there are still many +men practicing the primitive ways of a +generation ago. The use of devices of +simple construction and for operation by +muscular effort is still familiar in many +regions; and there are good miners who +cling to such practice in the belief that +it is the cheapest and truest way in which +to ascertain the values of wash deposits. +<span class="pagenum"><a name="Page_64" id="Page_64">[64]</a></span> +Also, there are many placers of limited +areas and irregular shapes that cannot +be well handled in any other manner.</p> + +<p>With a "pan," a man can wash, in +ten hours, not over one cubic yard of +dirt; and to accomplish this amount of +washing the ground must be very loose +and favorable. An ordinary ten-hour +day's work is about 100 pans. This is +equivalent to about one-half of a cubic +yard, which is the unit of volume in all +placering operations. One may thus +readily arrive at the cost of carrying on +operations in this way. A cubic yard of +ordinary placer dirt is the equivalent of +less than two tons. A <i>batea</i> is the Mexican +equivalent for the American iron gold +pan. It is a sort of broad, conical, +wooden bowl and its capacity is not +equal to the pan.</p> + +<p>A "rocker" or "cradle" is a trough on +rockers somewhat like the old-fashioned +child's cradle. In using it, a stream of +water is caused to flow into the device +which has been nearly filled with gravel +and the miner gives it a rocking motion +that causes the contents to classify or +<span class="pagenum"><a name="Page_65" id="Page_65">[65]</a></span> +stratify according to the laws of specific +gravity. The valuable particles, being +the heaviest, will settle to the bottom, +whence they may be subsequently removed. +A "long tom" is an inclined, +narrow box set stationary with a constant +stream of water entering at the upper +end. Gravel is also shoveled into the +device at the same point. The process +is more continuous than the preceding +ones, the values accumulating at the +bottom of the lower end, while the upper +layers of gravel are carefully removed by +skimming with shovels. The work will +keep two men busy and the capacity is +correspondingly greater. With a long +tom, two men will ordinarily handle +about five or six cubic yards in ten hours.</p> + +<p>Whenever deposits of a broad area, +with considerable and uniform depth, +are thought to be valuable, it has become +a practice to prove their value by "prospect +drilling." This is a mechanical +method and one form of apparatus employed +is of the churn-drill type common +throughout oil and coal regions. With +these portable machines, holes are put +<span class="pagenum"><a name="Page_66" id="Page_66">[66]</a></span> +down to bed-rock at intervals across the +ground. As they are sunk, the holes are +cased with iron pipes, the drillings are +carefully saved and washed, and the +values are estimated for each foot of +descent. From the summation and averages +obtained from all the holes, a very +fair knowledge of the ground's worth +can be obtained.</p> + +<p>Intensive placering is now the order +of things and the marvelous increase in +the use of dredges attests the success +which these "gold ships" have attained. +It is very interesting to watch the operations +of these huge boats loaded with +ponderous machines, especially when they +are installed in inland regions or up in +high mountain gulches. Yet numbers of +them are thus in steady use. Wherever +suitable beds with a tolerably uniform +size of boulders and gravel are found, +dams are built to retain the flows of +streams until ponds are created of sufficient +size to contain and float the +barges.</p> + +<p class="center"><a name="illus8" id="illus8"><img src="images/illus8.jpg" alt="Dredges of Yuba Consolidated Goldfields, Hammonton." /></a></p> +<p class="caption">Dredges of Yuba Consolidated Goldfields, Hammonton, California.</p> + +<p>Continual improvements are being +made in the construction of these mammoth +<span class="pagenum"><a name="Page_67" id="Page_67">[67]</a></span> +machines with a view to economy +in operations that will result from greater +capacities. All costs of placering are +reckoned per cubic yard washed. Costs +have been rapidly dropping during the +past decade until now some companies, +with extensive operations, are handling +dirt at not to exceed three cents per +cubic yard for excavating, washing, wasting +the refuse, maintenance, repairs, labor, +taxes, interest on investment, and the +depreciation of equipment. Such figures +will hold good only under very favorable +natural conditions of ground and climate +such as prevail in California; they have +not been attained in the frigid regions of +Alaska nor in the torrid South American +interior. In view of the wonderful improvements +brought forth by mechanical +engineers, it is improper to deny that +the future will bring still further reductions +in placer costs. On the contrary, +the signs are good for material reductions.</p> + +<p>Dredges are very costly in their installation. +They are usually designed to +handle so many thousands of cubic yards +per day. It has been stated, as a fair +<span class="pagenum"><a name="Page_68" id="Page_68">[68]</a></span> +but rough rule, that "bucket" dredges +will average, in initial cost, one dollar +for every cubic yard the boats will handle +per month. Thus, if a dredge of this type +is built to treat fifty or seventy thousand +cubic yards in a month, working steadily, +the costs will be respectively $50,000 or +$70,000. Other types of dredges, known +as the "dipper" and the "suction," will +cost less than the bucket type, but have +not gained general usage.</p> + +<p>"Hydraulicking" is extensively practiced. +This term signifies the working +of placer deposits by water which is +conducted through flumes and pipe-lines +and, by means of nozzles called "giants" +or "monitors," is directed, in huge jets, +against the banks of gravel. These +banks or walls are thus torn down and, +by the same water, the loosened, disintegrated +materials are caused to flow +into and through long, wooden, box-like +troughs known as "sluices." The floors +of these sluices are paved with ribs, +cleats or other obstructions termed "riffles" +whose function it is to retard and +collect the heavy particles which may, +<span class="pagenum"><a name="Page_69" id="Page_69">[69]</a></span> +later, during the process of cleaning up, +be removed as the valuable product. The +word "sluicing" is frequently used quite +synonymously with hydraulicking.</p> + +<p>Costs of this latter sort of placering +are considerably higher than those of +dredging; but there are many deposits +not adapted to dredging operations that +may be nicely worked by sluicing, so +that there will always be a field for this +scheme. Average costs are difficult to +obtain since it happens that most of the +companies now operating hydraulically +are secretive in their accounts. More +labor is entailed, more time is required, +greater delay is occasioned in cleaning +up, and the amount of water used is +much greater. Where water is abundant, +this last item need not be considered. +It is well to remember that even a very +large dredge, while requiring a continual +and large flow of water through its +devices, can still operate with just the +water in which it floats, this water being +pumped and used repeatedly; whereas, +in the case of hydraulic mining, the +water may be used but once and, consequently, +<span class="pagenum"><a name="Page_70" id="Page_70">[70]</a></span> +there must be a large supply +and at a good head or pressure.</p> + +<p>But, in spite of these disparaging +points, we find instances in which, under +peculiarly favorable conditions, hydraulicking +has been carried on at very low +figures. E. B. Wilson says: "The yield +of the gravel at North Bloomfield was +7.75 cents per cubic yard; the cost of +mining, 4.1 cents per cubic yard. The +yield per cubic yard of gravel at La +Grange was 10.19 cents, the cost of +mining, 6 cents. The costs of mining at +these two mines would analyze about as +follows: Labor, 60 per cent; supplies, +17 per cent; water, 13 per cent; office, +10 per cent. Ground carrying but 3.99 +cents per cubic yard has been worked at +a profit at the first mine. With such a +small margin to work on, it is evident +that skill and executive ability must be +provided from the pipemen up." It is +claimed that an Idaho mine was worked +profitably with less than two cents value +in the dirt, but this is to be regarded +with some doubt.</p> + +<p class="center"><a name="illus9" id="illus9"><img src="images/illus9.jpg" alt="The Snowstorm Placer, Fairplay, Colorado." /></a></p> +<p class="caption">The Snowstorm Placer, Fairplay, Colorado.<br /> +A typical Hydraulic Mine.</p> + +<p>There are large deposits in the arid +<span class="pagenum"><a name="Page_71" id="Page_71">[71]</a></span> +portions of the globe where water for +working is not obtainable. To meet such +conditions, numerous inventions continue +to be placed upon the market. These +devices are all planned in such a way as +to use very little or no water. If water +is required at all, the machines are expected +to use it repeatedly. The machines +are built to effect the segregation of the +precious contents gravitationally, electrostatically, +pneumatically, and by amalgamation +with mercury. It is too early to +say how successful such devices will prove +in commercial operations. Because some +of them have not "made good" does not +mean that genius will not yet cope with +the situation; and we look into the future +to see large operations efficiently and +economically conducted by dry placer +machinery. There are now no authentic +figures obtainable upon this question of +dry placering costs. +<span class="pagenum"><a name="Page_72" id="Page_72">[72]</a></span></p> + + + + +<h2><a name="chap8" id="chap8">VIII<br/>OPEN MINING.</a> +</h2> + + +<p>Some mention has been already made +of open mining. The greatest development +of this sort of mining has come about +since the application of the modern steam +shovel to the excavation of ore. This +practice was an American innovation +and it is being adopted throughout the +world wherever natural conditions will +warrant.</p> + +<p>Within the past few years, immense +bodies of iron ore have been discovered in +northern Minnesota and the adoption of +these immense, mechanically operated +shovels has worked such economies in the +mining of this kind of ore that entirely +new cost figures have been established +and tonnages are being produced which, +a few years ago, would have seemed +unbelievable. There are about a dozen +mines of this "open pit" type that have +each produced over a million tons of ore +per year in a season that must cease with +<span class="pagenum"><a name="Page_73" id="Page_73">[73]</a></span> +the close of navigation on the Great +Lakes. One mine has shipped over three +million tons a season.</p> + +<p>At the Utah Copper Company's mine +in Bingham Caņon, Utah, a great deposit +of low grade, copper-bearing eruptive +rock is being handled upon a steep mountain-side +by this same scheme. This ore +averages a little less than two per cent. in +copper, but so economical is the handling +of it in such vast amounts that a neat +profit is made above all mining, transportation +and milling charges. When the +red metal sells at thirteen cents per pound, +the gross value of this ore is about $5.20 +per ton. This mine has maintained an +output of ten thousand tons or more per +day over long periods.</p> + +<p>A famous gold mine in Queensland, +Australia—the Mount Morgan—is also +being worked by steam shovel methods. +The deposit is here in the form of a small +mountain and the operations are gradually +razing this landmark to the level +of the surrounding plains.</p> + +<p>The mining of low-grade <i>gold</i> ores by +open-pit methods has taken hold in America, +<span class="pagenum"><a name="Page_74" id="Page_74">[74]</a></span> +and an example of the practice may +be found at the Wasp No. 2 mine in the +Black Hills. According to published accounts +of the operations of this company, +all of the costs of mining and treating the +ore amount to only $1.02 per ton. The +ore body is a bed of quartzite lying nearly +flat, and averaging in the neighborhood +of only $2.50 per ton in gold, the only +mineral of value. The recovery of this +metal is at the rate of between 75 and 80 +per cent. efficiency, or about $2 from each +ton. The net profit is therefore close to +one dollar per ton. This very modern +scheme of mining has been made possible +through the recent advances made in the +cyanidation of ore, and it is going to pave +the way for many more such mining +plants.</p> + +<p class="center"><a name="illus10" id="illus10"><img src="images/illus10.jpg" alt="Steam Shovels and Churn Drills, Copper Flat, Ely." /></a></p> +<p class="caption">Steam Shovels and Churn Drills, Copper Flat, Ely, Nevada.</p> + +<p>The Nevada Consolidated Copper +Company has conducted vast mining +operations "in the open" at Ely, Nevada, +by the use of 95-ton shovels having a +capacity of two and one-half cubic yards +per dip. One shovel has handled as high +as 2,800 cubic yards (the equivalent of +about 5,500 tons) in nine hours; but this +<span class="pagenum"><a name="Page_75" id="Page_75">[75]</a></span> +must be recognized as an exceptional run, +and cannot be taken as an average. The +ore has a thickness of about 200 feet and +covers many acres. As in the majority +of such properties, there is here a large +amount of "overburden" to be removed +and disposed of before the ore can be +excavated. This process of uncovering +the ore body by the removal of the overburden +is called "stripping." The cost +per ton of ore mined is said to average +55 cents.</p> + +<p>In an open mine there must be maintained +a system of continually changing +tracks placed upon grades (sometimes +rather steep) and with sharp curves. +With multiple switches, numbers of small +locomotives are kept busy pulling and +pushing up and down the tracks with +their strings of loaded cars and replacing +the "loads" with "empties." When +such operations are upon a mountain-side, +a very beautiful panoramic view +may be had from the opposite side of +the gulch.</p> + +<p>Generally, the ore material is disintegrated +to some extent. In some cases, it +<span class="pagenum"><a name="Page_76" id="Page_76">[76]</a></span> +will actually crumble down before the +advance of a steam shovel. In other +mines, it is necessary to drill large holes +which are loaded and blasted.</p> + +<p>It is becoming more and more important +for the active mining man to post +himself upon the methods and economies +of this latter-day mining practice. The +development of this open or surface mining +has introduced entirely new economic +ideas. With no costs for timbering of +mine passages, for ventilation, or for +hoisting, and with a very material decrease +in manual labor per ton mined, +immense masses of rocks are now really +ore, although a few years ago they were +nothing but lean, country rock.</p> + +<p>In consequence of the success attained +by the pioneers in this kind of mining, +there has been created a demand for +properties possessing large deposits of low +grade ore that is workable on this intensive +scale. Copper properties have been +holding a prominent place recently and +stockbrokers carry regular lists of "Porphyries," +this nickname having been +coined to cover the companies operating +<span class="pagenum"><a name="Page_77" id="Page_77">[77]</a></span> +in the low grade porphyry ores of the +Western United States. Not all of these +porphyry companies will use surface mining +methods. Some companies in the +Globe District of Arizona have started +extensive underground schemes for mining +large tonnages very cheaply by "caving" +methods. +<span class="pagenum"><a name="Page_78" id="Page_78">[78]</a></span></p> + + + + +<h2><a name="chap9" id="chap9">IX<br />CONSIDERATIONS PRECEDING<br />THE OPENING OF MINES.</a> +</h2> + + +<p>The word "exploitation" is used by +many mining men and engineers to signify +a plan of so opening up ore deposits +as to render the contents removable. The +same persons use the word "mining" to +mean the operations involved in the +actual extraction of the ore exploited. +It is sometimes difficult to draw any line +between the meanings of these two words +for, as handled by different men, with +varying shades of intention, they are +sometimes synonymous. Thus, if exploiting +an underground mine, which +carries ore right from the surface, means +developing the mine in such a way as to +provide for a large, steady production, +it is difficult to see why the ore taken out +in this process cannot be said to be +"mined."</p> + +<p>By "dead work" is usually meant that +work of opening up a mine which will put +<span class="pagenum"><a name="Page_79" id="Page_79">[79]</a></span> +or keep it in a producing condition but +which does not supply any remuneration +in the shape of ore (or coal). Again, as +used by some men, there is little distinction +between this work and exploitation. +There may, however, be lines reasonably +drawn between these three terms, and +therefore the following definitions are +proposed:</p> + +<p><i>Dead work</i> is such work as is necessary +to develop an ore body, but it does not +produce any ore. It may be prosecuted +for drainage or ventilation purposes or +for creating passage-ways for men and +products.</p> + +<p><i>Exploitation</i> is also work performed in +opening up or developing a property, but +it does not contemplate the value of the +extracted materials which may, or may +not, be of any commercial importance. +Indeed, much ore might be extracted +during work which was carried on merely +to define extents or boundaries of ore +bodies. In this last supposition, the original +sense of exploration is brought out +and this should serve to fix the definition +clearly in mind. +<span class="pagenum"><a name="Page_80" id="Page_80">[80]</a></span></p> + +<p><i>Mining</i> may be restricted to mean the +methods and work involved in the profitable +production of the mine's ore (or coal). +The term would not be used to cover operations +of shaft-sinking, tunneling, and +the like, unless such work be in the valuable +materials. Mining may be said to +begin whenever there is produced an output +upon which there is some profit. Exploitation +may be in valuable ground. If +so, we may say that mining is in progress +during the exploitation. The driving +of levels or drifts in an ore body—or of +entries in a bed of coal—produces the +valuable products of the mine, and we +may, therefore, consider that mining is +taking place.</p> + +<p>The driving of a crosscut through barren +rock to reach an ore body is dead +work; but the driving of a drift or level +in a vein is either exploitation or mining. +Dead work produces <i>no</i> ore. Exploitation +may, or may not, produce ore. Mining +must produce ore.</p> + +<p>Throughout all of the above and the +following discussion of this chapter, the +reader should bear in mind the point that +<span class="pagenum"><a name="Page_81" id="Page_81">[81]</a></span> +the word "coal" may be substituted for +the word "ore" without altering the substance +of the definitions or the conclusions.</p> + +<p>Before a mine is opened up, the economist-manager +will consider many items. +In the first place, care must be exercised +in the <i>examination of the title</i> to the property. +A mineral property may have +passed through the most complicated +kind of transfers of fractional interests +in the title, just as is true with ordinary +real estate. The abstract must be traced +back clear to the issuance of patent from +the Government, and then on back to the +original location. With an undeveloped +property (a prospect), this precaution is +essential to estop any possible pretensions +to ownership, by outside parties, in case +the ground subsequently turns out to be +exceptionally valuable. It has often been +the case that no obstructions from any +adverse claimants have been met until +owners have, in good faith and at great +expense, developed splendid mines. Then +suits for possession or partial ownership +have been instituted, sometimes with +marked success for the plaintiffs. There +<span class="pagenum"><a name="Page_82" id="Page_82">[82]</a></span> +are persons who make it a special line of +business to examine titles to mining property, +and it is economy for the average +manager to employ such experienced men +to attend to these matters.</p> + +<p><i>Topographical considerations</i> will hold a +place in the study preceding the opening +of a new mine. The nature of the surface +of the property and the surrounding country +will largely influence in the selection +of the proper site for the mine's mouth. +Neglect upon this point has been a common +cause of failure in mining operations.</p> + +<p>A mine opening must be away from +all dangers of snow-slides, rock-slides, +cloud-bursts and deluges from overflowing +streams or breaking dams. It may make +a difference in the mine's ventilation as +to which direction the prevailing winds +blow and therefore upon which side of a +hill the mouth be opened.</p> + +<p><i>Transportation</i> facilities must be given +due thought. If means are not already +at hand, one must inquire into the feasibility +of constructing some form of carrier; +and here, again, will enter the question of +the surface's contour. If a railroad is out +<span class="pagenum"><a name="Page_83" id="Page_83">[83]</a></span> +of question, possibly an aerial tramway +may be constructed. These modern conveyances +stop at no obstacles of surface +configuration and are dependent only +upon the necessity of having the point +of delivery lower in altitude than the +point of loading at the mine. With some +of the modern improvements in these installations, +mine products are being transported +up-hill as well as down-hill through +the application of power. In mining +regions, it is generally the case that the +mines, themselves, are above the settlements +in which are the railroads or treatment +plants, so that the mine products +will transport readily by the natural force +of gravity.</p> + +<p><i>Climate</i> holds an important place in +the economics of mining. The working +of very rich pieces of ground may prove +a losing proposition in some portions of +the world where the climatic conditions +are such as to render operations possible +during only a very small portion of the +year. Extremes of heat or cold, malaria +or other pestilential obstacles, long rainy +seasons with floods, and the hostility of +<span class="pagenum"><a name="Page_84" id="Page_84">[84]</a></span> +native humans, beasts or insects have +accounted for the abandonment of seemingly +attractive mining projects.</p> + +<p>The question of <i>labor</i> must be given due +thought. It is true that the best miners +on earth are Americans. We do not deny +that many of our miners are of foreign +birth, but the fact remains that they +perform better and more intelligent service +than do their fellow countrymen +who have not been adopted into our +country. Our men are in demand in the +mining development of foreign countries. +An American mine manager will always +experience dissatisfaction while endeavoring +to get, from natives in foreign parts, +the same efficiency that he is accustomed +to receive from the miners "at home." +He may be paying a good deal less per +capita for such labor, but he finds he is +actually paying more per ton of output.</p> + +<p>Even within a single country, there are +notable differences in the worth of labor. +The natives of some of the Mexican states +are far preferable to those of other states. +Within the United States, there may be +discerned material differences between the +<span class="pagenum"><a name="Page_85" id="Page_85">[85]</a></span> +efficiencies of the citizens of various sections, +when it comes to mining. One +cannot procure as competent miners in +some of the agricultural states as in the +typical mining states. This is but to be +expected. For instance, there are deposits +of lead ore in the "moonshine" regions +of Kentucky which have never been successfully +worked, and the real cause of +failure, in the writer's belief, lies in the +inability of superintendents to obtain real +miners either in that region or from the +outside. The residents will never become +miners; outsiders will not enter for work +under existing sociological conditions.</p> + +<p>The question of <i>unionism</i> is sometimes +held by managers as a deciding one when +debating the opening of a mine. While +there are those who will broadly denounce +such organizations, there may be found +other and just as successful mine operators +who declare that the effects of union +control over their miners are beneficial to +their companies' interests. Probably the +greatest objection to unionism raised by +operators is that they resent the dictation +that accompanies the inauguration +<span class="pagenum"><a name="Page_86" id="Page_86">[86]</a></span> +of union rules in their mines. The owners +and managers prefer to run their own +business to suit themselves. Some managers +are so imbued with this conviction +of their own rights that they will refuse +to open up mines or, if they are operating, +they will close down their mines before +they will submit to the demands made +upon them by the union officials.</p> + +<p>On the other hand, there are mine managers +who prefer the presence of some +central, labor-controlling body; for they +believe that the men who belong to such +a large federation or organization will, +and do, have less complaint to make and +therefore work more freely than is the +case with the independent laborers. The +argument is that these union men are +satisfied because they feel that their +interests are being looked after with a +sort of attention that they, individually, +could not give.</p> + +<p>This is not a place to discuss the crimes +that have been laid at the doors of both +the labor organizations and the mine +owners' associations. It is safe to assume +that wrong has probably been done by +<span class="pagenum"><a name="Page_87" id="Page_87">[87]</a></span> +both sides. But it is furthermore right +to believe that most of the crimes were +not authorized, nor recognized, by the +officers or the majority of members of +either side. Individual members must +not be taken as averages of the membership +in any kind of civil, social or political +organization.</p> + +<p>It seems entirely wrong that <i>politics</i> +should enter into the considerations of a +mine manager whose operations are apparently +so apart from affairs of state; +but the fact remains that there are places +where mining operations cannot be carried +on without the good will of certain +officials of the state or national governments. +It is not advisable to enter into +any compromising terms to gain privileges +for carrying on any legitimate +business for there are other, better ways, +generally, of attaining the justice that is +deserved.</p> + +<p>One must not omit to investigate the +<i>sources of supply</i> for all the needs of a mine +and its camp. There are many kinds of +materials needed to keep a mine going. +Fuel, machinery, timber, water, food for +<span class="pagenum"><a name="Page_88" id="Page_88">[88]</a></span> +men and beasts, lumber, and all household +furnishings and necessities must +come from some markets or natural +sources. It behooves the cautious manager +to see that all these things may be had in +ample amount and at figures which will +not prove annihilating to his business.</p> + +<p>In Utah, there are mines which have +all their timbers framed in and shipped +from the forests of Oregon, the sawing +and framing being done before shipment +to save on freight. The fir of Oregon is +shipped to distant Australia for mining +purposes. The arid camps of Nevada get +their supplies of timber from the sister +state, California. The Michigan mines +are fortunate in being in a lumber region. +Colorado's metal mines are more favored +in the matter of timbers than are the coal +mines of the same state. Most of the coal +mines are upon the barren plains, while +the metal mines are chiefly in the wooded +mountains.</p> + +<p class="center"><a name="illus11" id="illus11"><img src="images/illus11.jpg" alt="Mill of the Pittsburg-Silver Peak Gold Mining Co., Blair." /></a></p> +<p class="caption">Mill of the Pittsburg-Silver Peak Gold Mining Co., Blair, Nevada.</p> + +<p>Water may be too scarce for the needs +of a mine or its community. There may +not be sufficient to supply boilers or a +mill, or for the domestic purposes of the +<span class="pagenum"><a name="Page_89" id="Page_89">[89]</a></span> +workers. On the other hand, water may +be so abundant in the mine workings as +to prove a deterrent factor in profitable +operation. With shaft mines, having +deep workings and low grades of ore, if +water must be delivered mechanically, +the costs for such drainage are frequently +prohibitive of mining. Some mines, in +arid regions, have been fortunate in striking +such flows of underground water that +it has been possible to operate mills right +at the mines. In this way, the cost of +water hoisting has been more than compensated +in the milling benefits which, +in turn, have decreased freights and +treatment charges.</p> + +<p><i>Machinery</i> is usually purchased at centres +of mining supplies and manufactures. +San Francisco, Los Angeles, Salt Lake +City, Denver and Chicago are the principal +<i>rendezvous</i> in the West for mining +men in need of machinery. Mexico City +is, similarly, the outfitting point for the +mines of southern Mexico. The United +States holds the supremacy of the world +in the matter of equipping mines and +mills, large orders of American-made +<span class="pagenum"><a name="Page_90" id="Page_90">[90]</a></span> +mining machinery being shipped to even +the antipodes.</p> + +<p>The nearer a property is to a depot of +supplies, the less is bound to be the cost +of getting goods onto the ground. It is +this last item—the delivery of goods—that +must be recognized as a very pertinent, +and sometimes a critical, factor +upon the cost side of mining accounts. +Mines that are remote or in rugged +countries are frequently dependent upon +animal transportation. In some cases, +machinery going to the mines must be +so built that it may be taken apart into +small portions suitable for loading upon +the backs of horses or burros, or even, +in the Andes, upon the frail llamas.</p> + +<p>Operations, if planned to be conducted +for a long term of years and therefore +warranting the installation of large and +expensive plants, should be based upon +the holding of extensive ore-bearing +ground. Here enters the notion of the +<i>shape and size of a mining property</i>.</p> + +<p>With some kinds of mining ground, +the best form for the holdings would +probably be a compact, approximately +<span class="pagenum"><a name="Page_91" id="Page_91">[91]</a></span> +equilateral tract, covering a reasonably +large acreage. This would be the case +with ores that occur in sedimentary beds, +for instance, where it is advisable to have +the mining plant centrally located so as +to work expeditiously the entire area. +This would apply to a region like the +Cripple Creek District, which contains +innumerable veins running in all directions +but displaying no outcrops.</p> + +<p>In other instances, the most desirable +shape might be long, narrow strips so +laid off as to contain the strikes of persistent +lodes or veins, as those of the wonderful +Comstock Lode region. It is not acreage +that counts here so much as lineal +extent.</p> + +<p>In the Transvaal, land is held in rectangular +blocks. The first owners of the +ground took it up for agricultural purposes. +This same statement is also true +of the mining properties in the Joplin +District of Missouri and Kansas.</p> + +<p>In the case of the South African properties, +every company has definite boundaries +to which operations may be planned. +Hence it is possible for the management +<span class="pagenum"><a name="Page_92" id="Page_92">[92]</a></span> +to so plant any mine as to operate it at a +given rate for a predetermined life of +the enterprise. The work is planned to +maintain a certain output that will exhaust +the ore bodies in just so many years, +and all the equipment may thus be purchased +with the forecast that it will serve +its purpose and perform its economic +share within the prescribed time.</p> + +<p>This notion will be more readily understood +when we consider the various types +of ore bodies. With properties wherein +there is no possible way of predicting the +number, size, and worth of discoverable +ore bodies, the life is wholly problematical +and it is therefore difficult for a manager +to decide how much he should expend in +the initial equipment. +<span class="pagenum"><a name="Page_93" id="Page_93">[93]</a></span></p> + + + + +<h2><a name="chap10" id="chap10">X<br/>MINE OPENINGS.</a> +</h2> + + +<p>In every new mining project, there is +much to be considered concerning the +expediency of opening up through shafts, +inclines or adits. More attention has +lately been given to this subject than +formerly. There are very good reasons +for the selection of any one of these kinds +of mine openings.</p> + +<p>The words shaft, incline, and tunnel +have been handled with careless meanings +by mining men. It is time that some +definitions be accepted so that everybody +will use these terms with the same +meanings.</p> + +<p>A shaft has loosely been any steep opening +sunk through the ground. An incline—sometimes +spoken of also as an incline +shaft—has been taken to mean an opening +resembling a shaft, but not very steep +and not approaching verticality. Right +here, there has been too much latitude +<span class="pagenum"><a name="Page_94" id="Page_94">[94]</a></span> +of speech and it has entailed the necessity +of many awkward explanations.</p> + +<p>By a tunnel has been intended any +(approximately) horizontal passageway +driven from the natural surface. Objection +to this use of the word rests in the +strict definition of a tunnel, which states +that it must have both ends open to the +natural surface of the earth, as for example, +an irrigation or a railroad tunnel. A +level passageway which has but one end +open to daylight is not properly spoken +of as a tunnel. In mining practice, practically +every horizontal opening of this +nature is open at only one end, and it is +an adit rather than a tunnel. If the +precaution of speaking of it as a "mining +tunnel" is observed, very well, for this +may be taken to be an expression synonymous +with adit. The latter term is, however, +shorter and more correct.</p> + +<p>For the sake of a uniform usage, the +following definitions are proposed. Their +use will conform with the usages of those +well-informed persons who adhere to correct +speech.</p> + +<p>A <i>shaft</i> is a truly vertical mine passage +<span class="pagenum"><a name="Page_95" id="Page_95">[95]</a></span> +which may, or may not, be sunk in or +along an ore or a coal body.</p> + +<p>An <i>incline</i> is any mine passage which +occupies a sloping position and which +may, or may not, maintain a uniform +inclination throughout its length. It +may be sunk along, or in, a pitching vein +or seam and it may thus conform to the +irregularities of the dip of such body. It +is neither horizontal nor vertical. Such +an inclined passage following a seam of +coal is known as a <i>slope</i>.</p> + +<p>It sometimes happens, especially in +coal mining, that a sloping passageway +is driven through barren rock either to get +at known bodies by the shortest means or +to establish uniform grades for tracks. In +a strict sense, these are not inclines or +slopes, for they do not even approximately +follow, nor parallel, bodies of value. The +miner's term for such an opening is <i>rock +slope</i>.</p> + +<p>An <i>adit</i> or <i>mining tunnel</i> is a horizontal +opening driven from the surface. If it be +driven along an ore body, as a vein, it is +properly called a <i>vein adit</i>; if it is driven +<i>across</i> barren country to intercept presumed +<span class="pagenum"><a name="Page_96" id="Page_96">[96]</a></span> +or known bodies, it is spoken of as +a <i>crosscut adit</i>. All adits must be given a +small amount of grade for drainage necessities.</p> + +<p>Before getting underground we should +consider what is required in the way of +opening our mine; what is positively +known about our body of coal or ore; +and what conditions are liable to confront +us later on. We must consider the +type of ore body; character of material to +be extracted; average thickness and hardness +of the body; desired tonnage; power +facilities; probable surface and underground +drainage to be maintained; and +dozens of other things which only the +experienced man will think of and appreciate. +The right kind of a manager will +know that he cannot afford to overlook +such points.</p> + +<p>Every case involves different contingencies, +and therefore extreme forethought +must be given to the subject before deciding +upon any particular kind of an opening +into the ground for mining purposes. +This remark does not apply to such openings +as prospect drill-holes, openings +<span class="pagenum"><a name="Page_97" id="Page_97">[97]</a></span> +which are not for mining purposes, but +for exploitation. Assuming that sufficient +data are known concerning the property +to warrant the expenditures incident +to the making of a mine, the question +remains as to the best way of proceeding.</p> + +<p>It is a well-established fact that it is +much cheaper to drive an adit than to +sink a shaft of equal transporting capacity. +It is also cheaper to drive an adit +than to sink an incline. If the topography +is such that an adit can be driven into or +beneath an ore body and thus expose it +from a low elevation, the temptation is +strong and along lines of good practice +to do so. If the country is quite flat or +nearly so, or, if the surface is such that, +while rough, an adit of reasonable length +cannot be driven to tap the valuable +mineral and handle it economically, then +it is good practice to decide upon a shaft +mine.</p> + +<p>An adit will not only be cheaper, foot +for foot, than a shaft or incline, but, if +given the proper, slight grade, it will +afford a natural drainage outlet for all +subsequent workings above its level. The +<span class="pagenum"><a name="Page_98" id="Page_98">[98]</a></span> +cost of pumping, as already suggested, +may be a considerable item and it may be +a deciding factor in favor of an adit when +this form of opening is possible.</p> + +<p>Furthermore, an adit will obviate the +installation and use of hoisting machinery, +and thus there may be maintained a +greater efficiency in the operating expense +of the mine than would be possible with +a shaft.</p> + +<p>Again, it is a simpler and cheaper +matter to maintain a mining tunnel in +working shape than it is a shaft, particularly +in bad ground. By the settling or +"working" of the ground, a shaft may +be thrown perhaps but slightly out of +alignment and annoying interferences will +be experienced in hoisting, especially +when rapid and uninterrupted hoisting is +necessary to maintain the desired output. +While the same amount of disturbance +does take place in an adit, it is an easy +matter to readjust track grades while continuing +regular haulage operations.</p> + +<p>The timbers, in the case of either a shaft +or an adit, will require occasional renewal, +but the expense of such repairs is less in +<span class="pagenum"><a name="Page_99" id="Page_99">[99]</a></span> +adits than in shafts or inclines, while +the delay to other operations of mining, +in the case of the adit, will be inappreciable.</p> + +<p>Topography has been referred to above, +but it must be again briefly mentioned. +There are some places in which ore bodies +extend to, or exist at, such depths that +adits could not be projected to get beneath +enough of the ore to warrant their +construction. An adit mine is not a practicable +thing in a flat country like Nevada +or the Rand, but in the rough country of +the San Juan it is the customary kind of +a mine. In the very early days of Comstock +Lode mining, shafts were sunk by +each of the hundreds of companies. Before +a great while, the advantages that +would accrue from having a deep "tunnel" +became evident, and the famous +Sutro Tunnel, with its historic, checkered +career, was driven. Although it loomed +up like a gigantic undertaking for that +period, the immense prospective or future +value of it could not be denied.</p> + +<p>The following relative advantages of +the several types of mine mouths are in +<span class="pagenum"><a name="Page_100" id="Page_100">[100]</a></span> +addition to those already given and are +worth consideration:</p> + +<p>With an incline, the value of a tabular +deposit is determined as work progresses; +the course and dip of the body will be +known at all depths along the incline; +the body may be explored from the incline +in both directions, simultaneously, with +a resulting doubling of the development +and production; all, or nearly all, the +material removed is "vein stuff" and its +value may repay the sinking expenses; +there is no losing of the ore body unless +a geological fault is met.</p> + +<p>With a shaft, more rapid hoisting is +possible than with an incline; the timbering +labor is less than in the case of an +incline, but greater than in the case of an +adit; with ground containing ore bodies +in irregular masses and at no uniform +intervals, vertically or horizontally, stations +and levels may be started wherever +desirable; the crosscuts which are usually +necessary to reach the bodies may disclose +otherwise unknown bodies.</p> + +<p class="center"><a name="illus12" id="illus12"><img src="images/illus12.jpg" alt="Mills and Shaft House of Daly West Mine, Park City, Utah." /></a></p> +<p class="caption">Mills and Shaft House of Daly West Mine, Park City, Utah.</p> + +<p>With a vein adit, the vein is prospected +as work advances; the ore removed may +<span class="pagenum"><a name="Page_101" id="Page_101">[101]</a></span> +pay its own way, as it were; the drainage +is automatic; ore is transportable from +the mine by haulage rather than by hoisting; +the ore in place is above the level +and will handle itself to the outgoing +passage by gravity.</p> + +<p>With a crosscut adit, in addition to +the last three advantages noted for the +vein adit, there is bound to be exploration +of the ground upon at least one side +of the known body; there will generally +be easier haulage because of the straighter +track, since an adit driven along a vein +will conform to the geological irregularities +and the track is bound to be more or +less crooked.</p> + +<p>Without counting upon the doubtful +success of the numerous propositions in +tunneling machines, but judging only +from past experiences, we may say that +a shaft will cost about three times as +much as a "tunnel" of equal transporting +capacity. If the ground is wet, the +discrepancy in first costs becomes much +larger. In a remote region, with difficult +transportation of machinery and fuel, it +may be better to drive and use a long adit +<span class="pagenum"><a name="Page_102" id="Page_102">[102]</a></span> +rather than a shallow shaft. An adit will +transport more product than will a shaft +of equal dimensions.</p> + +<p>An adit may be driven to intercept a +shaft and to serve as a sort of artificial +surface, as it were, and thus save expenses +in pumping and in hoisting up to the +original collar of the shaft at the surface +of the ground.</p> + +<p>No matter how crooked an incline may +be, it is possible to hoist ore in conveyances +known as skips, although the hoisting +may be necessarily somewhat slow. +These same conveyances are useful for +lowering and hoisting men, and the parody, +"Men go down to the mine in +skips," here finds its significance. The +usual hoisting conveyances used in shafts +are known as cages. They usually produce +less friction than do incline skips. +A skip in an incline must travel upon a +track, while a cage, somewhat resembling +a passenger elevator, has no wheels, +but slides upon guides. However, an +incline skip, because of the inclination of +the passage, does not exert the same +dead weight upon the cable and hoisting +<span class="pagenum"><a name="Page_103" id="Page_103">[103]</a></span> +engine and hence these parts of the +equipment may be made correspondingly +lighter. Skips for shafts are similar to +cages in their lack of wheels.</p> + +<p>Complete estimates of probable future +requirements should be made before a +shaft is sunk. When it becomes necessary +to enlarge a single-compartment +shaft to one with two compartments, the +expense has been found to exceed one-half +the original cost of sinking; while, to +convert a one-compartment shaft into a +three-compartment shaft costs fully three-fourths +of the original sinking expense. +Approximately the same ratios of cost +will hold in the case of enlarging inclines.</p> + +<p>Character of ore sometimes influences +the selection of the kind of passageway. +Some high grade, brittle ores must not be +dumped nor handled repeatedly, since +values are lost in the "fines." Iron and +copper ores will not probably be injured +by any amount of dumping. Coal should +be handled as few times as possible. In +view of this fact, other things being equal, +adopt that system that will injure the +ore or coal the least. +<span class="pagenum"><a name="Page_104" id="Page_104">[104]</a></span></p> + +<p>As a rule, workmen are safer in tunnels +than in shafts, since there is little danger +from objects falling any great distance. +Tiny bits of rock have been known to kill +men in shafts. On the other hand, there +is less liability of injury from falls of +large rocks in shafts than in adits. Roof +falls are a very prolific source of mine +accidents.</p> + +<p>The workmen of neighboring mines will +often be able to give much valuable information +as to the proper procedure in +opening a new property. For instance, +water levels, amounts and kinds of gases +that may be expected, the nature of the +wall rocks, and other pertinent points +may be learned by interviewing the men +who are employed in adjacent mines. +Still better information may be obtained +by personal visits to the underground +workings of the nearby mines. In this +connection, one must not permit himself +to be unduly influenced by the prejudices +or hobbies of the neighboring operators +or their employés if there is reason to +suppose that such notions are contrary +to good practice. +<span class="pagenum"><a name="Page_105" id="Page_105">[105]</a></span></p> + +<p>Due consideration must always be +given to the selection of some method +of opening up what might be supposed +will never amount to a great mine, so +that, should subsequent disclosures exceed +expectations, enlargement of the scale +of operations can be advantageously +effected. Always bear in mind that legitimate +mining is just as much a commercial +enterprise as is any other kind of business. +The utmost concern for financial showings +must be constantly borne in mind. +Select a scale of operations consistent +with the known—not the hoped-for—bodies +of coal or ore; but have a certain +feature of elasticity about the plans that +may take care of future increase in business +if found desirable. Do not "over-plant." +Never plant, at all, <i>prematurely</i>. +It is better to postpone the installation +of the equipment until some specific facts +are available. Many companies have met +defeat in the exhaustion of capital through +the purchase and installation of elaborate +plants which were never warranted.</p> + +<p>After a mine is once opened and preparations +have all been perfected to operate +<span class="pagenum"><a name="Page_106" id="Page_106">[106]</a></span> +upon a certain scale of output, it is quite +essential that exploitation and production +be maintained without material fluctuations, +if the greatest economy is to be +attained. Exploitation, <i>i.e.</i>, development +work, must be kept well in advance of +actual mining operations to assure plenty +of working space for the extraction of +the normal output. +<span class="pagenum"><a name="Page_107" id="Page_107">[107]</a></span></p> + + + + +<h2><a name="chap11" id="chap11">XI<br/>TYPES OF ORE BODIES.</a> +</h2> + + +<p>It has been necessary, a number of +times in this discussion, heretofore, to +make mention of kinds of ore bodies. It +is well, at this time, to get some fixed +ideas concerning the leading types of +bodies of minerals which are extracted +as ores.</p> + +<p>Because of the laxity in type differentiation +which has prevailed among miners +and writers, the same geologists who have +framed definitions of ore, have also defined +the various types of ore bodies. The +definitions, having been accepted by the +leading mining geologists and engineers +of the present day, it is well for us to fall +into line and to agree with the authorities +in such matters.</p> + +<p>A <i>vein</i> is a <i>single, ore-bearing fissure</i>, +generally, though not necessarily, with +at least one well-defined wall.</p> + +<p>When we run across a tabular-shaped +deposit of ore that looks as though it may +<span class="pagenum"><a name="Page_108" id="Page_108">[108]</a></span> +have been put into a pre-existing fissure +or chasm, the chances are that it is a +vein. But a vein must not be confounded +with a dike. A dike is a filling that has +been injected, while molten or fluid, into +an open passageway or rupture across +rocks, or into an opening which it created +for itself. A little examination of the +material should tell, to even the novice, +whether or not the substance is of plutonic +origin. The filling of a vein is not +eruptive, at all. Veins have been filled +from circulating aqueous solutions, by +slow depositions, that have occupied very +long periods.</p> + +<p>A vein may be any thickness, since a +fissure may have been opened to any +width. Hence, a vein may be as thin +as a sheet of paper, or it may be a hundred +feet across. However, it is true that some +wide veins have resulted by a sort of enlargement +from original thin seams. Very +few of the notable wide veins of the world +are believed to have been created by the +filling up of chasms originally as wide as +the present ore bodies. But, in all cases +of real veins, there were original fissures, +<span class="pagenum"><a name="Page_109" id="Page_109">[109]</a></span> +fractures or crevices which acted as channels +for circulating solutions that contained +the materials which were left to +make the vein matter.</p> + +<p>A <i>lode</i> is an <i>assemblage of veins</i> so closely +spaced that the ground between the veins +becomes, in places, ore-bearing, and the +entire width of the aggregation becomes +an ore body.</p> + +<p>A zone of sheeted rocks like schist or +slate, if sufficiently mineralized to warrant +mining, would be a lode. Sometimes, in +certain districts, the earth's crust has been +subjected to many approximately parallel, +closely-spaced fractures, and by the subsequent +filling of these cracks, with the +accompanying corrosion of the walls and +their replacement by ore, extraction of +the entire mass of rocks across a considerable +distance will be found to yield a +profit. Any such body is a lode.</p> + +<p>In the Cripple Creek District, the +ground is criss-crossed in every direction +by tiny fissures which have resulted from +the contraction of the country rock, just +as a bed of mud is fissured in the process +of drying up after a rain. Wherever these +<span class="pagenum"><a name="Page_110" id="Page_110">[110]</a></span> +fissures are found in aggregates that are +closely spaced and in which a majority of +the cracks have a general trend so that +the whole assemblage can be readily +worked as one mass, this whole body of +fractured rock may be found worth mining +and it will then constitute a lode. It +may be mentioned here that the so-called +ore of this district is not really ore according +to the accepted definition. The true +ore, the filling of these innumerable, tiny +cracks, really constitutes but about five +per cent. of the material that is shipped +as ore, but which is principally the "country +rock" broken down with the small +volume of ore.</p> + +<p>In <i>legal</i> phraseology, the word lode has +come to include all sorts of ore bodies. +When the word is thus used, in a legal +sense, it should not be confused with the +strictly technical meaning.</p> + +<p>It has been the fashion for prospectors +to dilate upon the fact that they have +located "true fissure veins." This expression, +formerly on the tongues of most +mining men in districts possessing veins +at all, is now obsolete and hence should +<span class="pagenum"><a name="Page_111" id="Page_111">[111]</a></span> +be placed in the discard. There can be +no such thing as an "untrue" vein nor an +"untrue" fissure. Neither can there be +any vein without a fissure. Therefore, +if there is any vein, it must be a real +or true vein. Accordingly, the verbiage +is to be discouraged. The intention of +a miner, in using this pet phrase, has +been to convey the impression that his +vein extended downward, indefinitely; +there having arisen a notion that some +veins are rather superficial and liable to +"peter out" at slight depths, while others—the +kind he invariably has located—persist +both in size and value to extreme +depths.</p> + +<p>There are districts in which are found +short fissures, generally confined to certain +horizons in sedimentary rocks, such +as the limestones of the great Mississippi +Valley, from which are mined lead and +zinc ores. These are called "gash veins." +These are always readily recognized and +there is not the slightest excuse for confusing +them with the fissures which are +common to other kinds of rock formations.</p> + +<p>A <i>bed</i> or <i>blanket vein</i> is the term applied +<span class="pagenum"><a name="Page_112" id="Page_112">[112]</a></span> +to any nearly flat deposit conforming to +the bedding. Such a body of ore must +be in a sedimentary series of rocks. Coal +bodies are all of this type. Many bodies +of iron ore are also of this type.</p> + +<p>A <i>chimney</i> is an ore body which has not +the tabular form of a vein but is rudely +elliptical in outline, horizontally, and +with a very considerable vertical extent. +A <i>stock</i> is a similar body but it is of still +greater irregularity of boundary.</p> + +<p>These bodies are usually the filling of +extinct volcanoes or geysers, and therefore +they are presumed to extend to very +great depths. The diamond mines of +Kimberly, Africa, are of this type and +the ore is a sort of hardened geyserite or +mud in which are enclosed the precious +gems. In Custer County, Colorado, the +ore body of the Bassick Mine is a conglomerate +of rounded boulders of all +sizes cemented together, somewhat like +concrete, by the materials which really +carry the values. This mass occupies +an ancient volcanic neck or throat of a +geyser, probably the latter. The main +portion of the Cripple Creek District is +<span class="pagenum"><a name="Page_113" id="Page_113">[113]</a></span> +the crater of a great prehistoric volcano. +It might be called a great chimney, but +custom seems to limit the use of the word +chimney to a smaller body such as might +be included in a single mining property.</p> + +<p>A <i>mass</i> is a deposit whose irregularity +of shape is so great that it cannot be recognized +as belonging to any of the types +already mentioned. Masses conform to +no rules as to shape or size. They are +usually the result of a chemical dissolving +of the original barren rocks with a +simultaneous or subsequent substitution +of valuable materials. There are many +instances of ores that have been deposited, +molecule by molecule, replacing equal volumes +of the previous rock, much upon +the order of the petrifaction of wood. +Again, there are immense masses which +are believed to have accumulated in caves +already dissolved out of the containing +rocks.</p> + +<p>While recent geological study of the +districts in which such ore bodies abound +have disclosed numerous facts about their +occurrence, there still remains much conjecture +concerning their origins, and we +<span class="pagenum"><a name="Page_114" id="Page_114">[114]</a></span> +may still believe that they do not conform +to any rules as to regularity or size. +The ore bodies of Leadville are of this +type, and they may be described by the +homely similes that they are as like and +as unlike, and their occurrences are about +as regular, as potatoes in a hill. The +potato-tops give the farmer a suggestion +as to where to dig. So, also, do certain +geological relations guide the miner. And +yet a shaft may be sunk hundreds of feet +down among masses and not happen to +penetrate a single one.</p> + +<p>There are numerous recognized types +of ore body not enumerated here; but it +is sufficient for the average layman in +mining matters to understand these few +distinct types and to believe that all +other types are rarities, and are, as a general +thing, but intermediate forms of +those defined.</p> + +<p class="center"><a name="illus13" id="illus13"><img src="images/illus13.jpg" alt="Shaft No. 3, Tamarack Mining Company, Calumet." /></a></p> +<p class="caption">Shaft No. 3, Tamarack Mining Company, Calumet, Michigan.</p> + +<p class="center"><a name="illus14" id="illus14"><img src="images/illus14.jpg" alt="Smeltery of the Balaklala Consolidated Copper Co." /></a></p> +<p class="caption">Smeltery of the Balaklala Consolidated Copper Co.,<br /> +Coram, California.</p> + +<p><span class="pagenum"><a name="Page_115" id="Page_115">[115]</a></span></p> + + + + +<h2><a name="chap12" id="chap12">XII<br/>THE QUESTIONS OF DEPTH AND<br />GRADES OF ORE.</a> +</h2> + + +<p>The prevailing belief of a few years ago +that ore bodies always improve with depth +has been discredited. Not a single mining +geologist will longer maintain such a +notion. The evidence of many thousands +of mines has refuted this older belief and +it has been proven that quite the opposite +view is the correct one concerning changes +of value with depth. Values, instead of +getting better, do actually, in the majority +of cases, grow poorer as depth is gained.</p> + +<p>President C. R. Van Hise, of the University +of Wisconsin, was among the +early expounders of the newer theories to +account for this fact. The writer heard +him state, years ago, before a scientific +gathering (which, at that time, was not +quite ready to agree with him), that if he +were given his choice, he would much +prefer to own the upper thousand feet of +the earth's crust than all the rest of the +<span class="pagenum"><a name="Page_116" id="Page_116">[116]</a></span> +globe. In this remark, he was referring +only to mineral values, of course.</p> + +<p>This belief that the best values are to +be found not far from the surface has +since become popular, for it is based upon +proven facts. It is not claimed that +values are never mined below an elevation +that is a thousand feet from the +surface. There are many mines, and +great ones, too, that are operating at +depths greatly exceeding this distance; +but in these same mines there will be +found valid reasons for not applying the +general statement to their particular cases. +For instance, the great copper mines of the +Keweenaw Peninsula are productive at +depths of a mile or more from the surface; +but we believe that here the ore must +have been originally deposited at, or near, +the surface, that it was then overlain +with rock strata; and subsequently steeply +tilted by earth movements which carried +some of the ore bodies down to the depths +where they are now found.</p> + +<p>The "reefs" or bankets of the Rand +are so termed because these ore bodies +were undoubtedly ancient coast beaches +<span class="pagenum"><a name="Page_117" id="Page_117">[117]</a></span> +or sea placers. The gravel, sand, and +gold particles were cemented together +into a conglomerate, then covered with +many later sedimentaries, and finally the +continent of Africa was so raised or +altered in some manner as to bring these +gold deposits into their present inland +and tilted positions.</p> + +<p>In veins or lodes, it is not supposed that +ore-making minerals could have been precipitated +from solutions travelling either +upward or downward and obeying chemical +laws if the depth were sufficient to +furnish great temperature or high rock +and hydrostatic pressures. Therefore minerals +which were deposited from aqueous +solutions rising from depths, for example, +must have retained their dissolved condition +until they ascended to horizons +in which both pressure and temperature +were low enough to permit the precipitation +and crystallization that create ores. +Contrarily, descending solutions must +have given off their contents before +reaching the deep zones of heat and pressure, +or not at all.</p> + +<p>It is a quite common phenomenon to +<span class="pagenum"><a name="Page_118" id="Page_118">[118]</a></span> +observe that the richest <i>gold</i> ore in a +mine is found close to the surface, if not +actually at "grass roots." The explanation +is simple. The gold, being the most +stable of the aggregate of minerals composing +the original ore, has the better +resisted the corrosive attacks of atmospheric +agencies and has remained nearly +intact, while its associated minerals have +been dissolved or altered and carried +away. The same amount of gold remaining +with a diminished quantity of +the worthless, non-metallic minerals—the +"gangue"—inevitably renders the ore +richer per unit of weight (such as a ton), +although per unit of volume the value +remains constant, or nearly so, so far as +the gold is concerned.</p> + +<p>But with other kinds of ore, as, for +example, copper, the best grades are +found, not close to the surface but some +two hundred or more feet down. The +explanation is that the minerals of copper +are considerably more soluble than the +ordinary gangues and therefore the weathering +and oxidation that takes place in +the upper horizons of ore bodies will dissolve +<span class="pagenum"><a name="Page_119" id="Page_119">[119]</a></span> +out the cupriferous compounds and +thus deplete the superficial ore. But, by +the flowing of the copper solutions to a +lower zone, there occur certain reactions +that reprecipitate the salts of copper +upon compounds of the metal already +formed and we have instances of the phenomenon +known as "secondary enrichment."</p> + +<p class="center"><a name="illus15" id="illus15"><img src="images/illus15.jpg" alt="Concentrator Division, Washoe Reduction Works of the Anaconda Copper Mining Co." /></a></p> +<p class="caption">Concentrator Division, Washoe Reduction Works of the Anaconda Copper Mining Co.,<br /> +Anaconda, Montana.<br />Largest Copper Works in the World.</p> + +<p>It was this very process that effected +the changes in the character of the ore in +the famous Anaconda Mine, previously +mentioned (page 44). The locator's discovery +was upon an outcrop rich in +silver. Probably the original compounds +of the vein were of both silver and copper. +The silver was more stable against dissolution +than was the copper, with the +result that the base metal was removed +more rapidly and completely than was +the precious metal. The upper portion +of the vein was therefore left rich in silver, +and low in copper. But, as depth of mining +increased, there was found a gradual +diminution of the silver content with a +simultaneous increase in the copper. The +mines of Butte have become known as +<span class="pagenum"><a name="Page_120" id="Page_120">[120]</a></span> +copper mines, and the wonderful records +they have made are ample testimony to +the fact that the change in the prevailing +metallic values has not wrought serious +havoc in the mining industry of the +district.</p> + +<p>Regarding the probability of veins persisting +to great depths, there is this +thought suggested by J. E. Spurr: "Owing +to the pressure exerted by gravity, it +is doubtless more difficult for a fissure to +stay open in depth than near the surface. +The tendency is to press the sides together. +At a certain depth, it is probably +the case that the pressure and the plasticity +resulting from this, together with +the increase in heat, makes it impossible +for fissures, fractures or any openings to +exist."</p> + +<p>There are still many persons who are +reluctant to let go of the cherished notion +about the improvement of ores +with depth. But there is no economy +in deceiving one's self, and the wise thing +to do is to accept the truths as they +are daily proven. It may be worth +while to again refer to the wonderful +<span class="pagenum"><a name="Page_121" id="Page_121">[121]</a></span> +Camp Bird Mine. This mine was discovered +in its true worth years after it +had been abandoned by early prospectors +because it lacked showy, base-metal minerals. +However, since its true merit +has been recognized, it has maintained +large and remarkably rich annual outputs. +As values were beginning to show a material +decrease, about five years ago, an +experienced mining engineer of recognized +standing was engaged to give advice concerning +the future exploitation of the +property. After exhaustive investigation +of the ground, and in the face of +adverse opinions, he recommended the +discontinuance of further development +in depth. At the same time, however, +he advised the exploitation of the ground +laterally or along the strike of the very +persistent vein. His advice was followed +and the company's stockholders had +reason to be advocates of the new theory; +for a very reasonable amount of horizontal +development work opened up vast +stores of rich gold ore.</p> + +<p>And yet, notwithstanding this disquieting +feature that seems to apply to mining, +<span class="pagenum"><a name="Page_122" id="Page_122">[122]</a></span> +there is comfort to be found in the consideration +of the exceptional cases. Every +man may hope that when he locates a +new mine he is taking possession of a +property that will have as extensive ore +bodies as those that have been proven to +exist in the lead-silver mines of Laurium, +Greece, the quicksilver mines of Spain, +or the copper and tin mines of Cornwall. +These mines are in lodes which have +persisted and have been mineralized to +comparatively great depths, so that their +bottoms have not been reached.</p> + +<p>There is a modern idea that has taken +root in the minds of mining men of the +last generation to the effect that the mines +with rich ore are not necessarily the ones +with big profits. There are many men +looking for investments in mines whose +contents are of low grade but in large +bodies readily worked. If a mine with +rich ore can be found and the ore abounds +in such liberal amounts as to warrant +the inauguration of a company with the +essential working equipment, such a proposition +will naturally not be turned down. +However, the faith of some men is placed +<span class="pagenum"><a name="Page_123" id="Page_123">[123]</a></span> +in those mines that may be operated +upon very large scales for long periods +even if the profit per ton be very small. +With a large plant, the unit of expense, +<i>i.e.</i>, the cost of mining per ton, is less +than with a small mine. With the assurance +of regular outputs of ore of a reasonably +uniform grade, the milling equipment +can be planned to handle a mine's +product to the greatest advantage. The +Alaska-Treadwell Mine, on Douglas +Island, is an instance of a splendid +property that has been continuously +operated for about a third of a century. +The ore is low grade in gold but immense +dividends have been declared because +the ore body, a tremendous mass of eruptive +rock, has lain in such a position +that the owners found it possible to +excavate the stuff, to a great extent, by +open-pit methods, although not by using +steam shovels. The ore is treated in a +vast mill contiguous to the mine.</p> + +<p>The Homestake, another gold mine, +has an ore body quite dissimilar geologically +from, but of dimensions approximating +those of, the Treadwell. It is a great +<span class="pagenum"><a name="Page_124" id="Page_124">[124]</a></span> +body of mineralized, crushed shales, standing +steeply in the shape of a lode and +carrying about $3.75 per ton. It has +been followed down considerably over +one thousand feet and although the grade +has dropped somewhat with depth, there +are known to still be millions of tons in +reserve. According to estimates, the +mine has enough positive ore in reserve +to keep the mill running at the rate of +4,000 tons per day for several years even +if no more ore were to be opened up. +This ore nets but 53 cents per ton above +all mining and milling expenses; but a +little arithmetic will show that this mine +is worth twice as much as the mine that +is producing, with more or less regularity, +an average daily output of, say, forty +tons of high grade ore upon which there +is a net gain of $25 per ton, a figure that +is rather high for the average of so-called +"high grade" mines.</p> + +<p>We must, therefore, decide that it is +always wise to think twice before condemning +a mine because its grade of +product is low. It is only recently and +by virtue of marked improvements in +<span class="pagenum"><a name="Page_125" id="Page_125">[125]</a></span> +metallurgical processes that many bodies +of mineral have become "ore." Hence +it is but natural that many of the older +miners fail to grasp the possibilities that +lie in such deposits.</p> + +<p>What is the line of value separating a +low grade from a high grade of precious +metal ore? There is no uniform practice +along this line. One will notice that ores +are nowadays spoken of as high grade +that, before the practice of mining these +described meagre deposits, were reckoned +as low grade. This fact is due to two +reasons, viz., the cheapening of metallurgical +operations, and the greater respect +that is entertained for ores of low +metallic content. The Esperanza Mine, +in Mexico, is called a high-grade gold +mine. Its ore has averaged about $33 +per ton and the profit therefrom about +$19. The Oroya-Brownhill Mine, in +western Australia, has had ore that carried +a value of about $22 per ton and +from it a profit of about $15 per ton was +made. In the Cripple Creek District, +ores that run above $30 per ton are considered +high grade. This means that +<span class="pagenum"><a name="Page_126" id="Page_126">[126]</a></span> +the average rich ore shipments of the +district have a gold content of about 1-1/2 +ounces per ton. The expenses of mining, +freight, and treatment will probably +total close to one-half the gross +value, or about $15 per ton.</p> + +<p>When one speaks of $30 or $40 ore as +rich or high grade, it is not to be inferred +that there is no ore in the shipments +which is not worth a great deal more than +this amount per ton. Such lots of ore +will, no doubt, contain a great many +chunks that would assay many times the +average value. Such selected materials +would not, however, be samples; they +would be what are called "specimens." +The specimen has its place in mine economic +discussions because it furnishes +the basis of operations for the ubiquitous +"high grader" with which nearly +every new and rich mining camp must +contend.</p> + +<p>Some writers claim that the high grader +is a product of modern conditions; but +we find that he has existed for such a long +time that he was given mention by the +Scotch historian and scientist Andrew +<span class="pagenum"><a name="Page_127" id="Page_127">[127]</a></span> +Ure, who wrote of the precautions that +were exercised in working the graphite +mines of England, a century ago, to prevent +the pilfering of even this comparatively +low-grade material. Even the +ignorant African natives of today cannot +be trusted to wear clothing while +working in the diamond mines. No, +the cause of high grading is the innate +greed of human beings and it has existed +from prehistoric time and among +all peoples.</p> + +<p>In this discussion as to grades of ore, +the question may arise as to what might +be reasonably considered the most attractive +kind of a mining proposition. This +is too knotty a query to be answered in a +few words. There are so many different +phases that must be given due weight. +Every mine is a problem in itself. The +Minnesota mines afford the best examples +of profitable iron mining. Under the +classification of underground, tabular deposits +such as veins or lodes, no matter +in what metals their values are found, +Mr. T. A. Rickard believes that the ideal +mine would be one carrying ore worth +<span class="pagenum"><a name="Page_128" id="Page_128">[128]</a></span> +$10 per ton, in a body five feet thick, with +costs not exceeding $5 per ton, and so +mined as to keep one million tons continually +in reserve. According to these +restrictions, he thinks the Robinson Mine, +of Johannesburg, will about fill the bill as +an ideal <i>gold</i> mine. It has a deposit of +about the right thickness to avoid excessive +timbering expense and this ore body +is in such a vast, continuous sheet that +its superintendent can depend upon maintaining +a systematic development that +will assure a constant supply of ore to the +immense mill for ten or twelve years in +advance. This same ore averages about +fourteen pennyweights (approximately +$14) per ton and upon this there is assured +a profit of over five dollars per ton. +<span class="pagenum"><a name="Page_129" id="Page_129">[129]</a></span></p> + + + + +<h2><a name="chap13" id="chap13">XIII<br/>VALUATION OF MINING<br /> PROPERTY.</a> +</h2> + + +<p>Whenever a piece of mining property +is to change hands, it is the proper procedure +to employ an expert engineer to +investigate the ground and the improvements +and so arrive at some estimate +concerning its intrinsic value. Nobody +is infallible and it is a trite saying that +"nobody can see into a mine farther than +the last drill hole." But there is a great +difference in the reliabilities of reports +made by trained and by untrained men. +A self-styled "expert" of the type which +is so abundant in every new mining centre +and about cities frequented by mining +investors will probably not be able to +comprehend anything beyond his vision; +but the mining geologist and engineer—the +man who has devoted the better part +of his life to study and experience along +these lines—will be able to reach conclusions +upon which much reliance may +<span class="pagenum"><a name="Page_130" id="Page_130">[130]</a></span> +be placed. This fact has come to be +recognized by the men who exercise business +judgment in their mining investments.</p> + +<p>The sampling of mines has been studied +and improved upon by succeeding engineers, +until one may say that it is conducted +along strictly scientific lines. The +old method of taking a sample of a mine +by scratching ore from the sides of a +shaft from top to bottom and letting the +collected material at the bottom represent +a fair average of the ore body, has +been relegated to its proper place in the +evolution of mine valuation.</p> + +<p>Without entering into a description of +the methods now employed by the best +examiners of mines, let it be said that +every scientific precaution is taken to +obtain representative portions of the ore +bodies, at such intervals as seem best in +each particular case; that measurements +and assays are made for each and every +sample taken and not for the aggregate +of all the samples; that no opportunity is +allowed unscrupulous persons to vitiate +results in any manner; that a professional +<span class="pagenum"><a name="Page_131" id="Page_131">[131]</a></span> +engineer will not hold nor acquire, in any +way, an interest in any proposition which +he examines; and that the report of a +reputable engineer is equally acceptable +to the seller and to the purchaser, no +matter for whom the work is done.</p> + +<p>Much discussion has prevailed as to +the best means of estimating the amount +and the value of ore in unbroken reserves. +Associated with these beneficial +disputes, there has been a further controversy +as to the correct classification +for reserves of unbroken ore. It is now +conceded among mining men and engineers +to be improper to longer make use +of the meaningless but tongue-worn expression +"ore in sight" as signifying any +known or unknown volumes of ore in the +ground. The only ore in sight is that +which has been hoisted or which has been +broken and stored underground. Well-known +engineers have proposed the following +expressions:</p> + +<p>To denote the contents of ore bodies +which have been exposed on four sides, +we may say <i>ore blocked out</i>, <i>positive ore</i> or +<i>ore developed</i>; for bodies exposed upon +<span class="pagenum"><a name="Page_132" id="Page_132">[132]</a></span> +three sides, it is considered correct to +describe the contents as <i>ore partly blocked</i>; +for such bodies as are proved upon two +sides only, the terms <i>ore faces</i>, <i>ore developing</i> +or <i>probable ore</i> are appropriate; while +in speaking of all ore that may be expected +or suspected, but which is beyond the last +exposures, we may use the expressions +<i>ore expectant</i> and <i>possible ore</i>.</p> + +<p>When it comes to the question of placing +a value upon an undeveloped property—one +in which there is little, or no, development +work or exploitation—it takes +more than the ability of the common +"expert" of the curbstone variety to +arrive at any dependable figures. Without +any exposures, except those that may +have been produced by Nature, and perhaps +with no guidance from facts that +might be obtainable were there adjoining +mines, one might suppose that the +whole matter would resolve itself into +mysticism. Right here is where the +trained man best shows his ability.</p> + +<p>The greatest error of the usual investor +in mining schemes is to rely upon either +no report at all or upon a worthless one +<span class="pagenum"><a name="Page_133" id="Page_133">[133]</a></span> +furnished by an impostor. <i>In no sort of +a mining proposition is a reliable report +so essential as when one is contemplating +the purchase of a "prospect."</i> Successful +engineers, whose predictions concerning +such properties have come true, are sometimes +complimented (?) by being accused +of possessing intuition or prophetic vision. +Call this ability what we will, we must +admit that <i>education and training</i> give +certain qualifications that will enable a +man to arrive at conclusions which, in the +majority of cases, will be found to wear. +<span class="pagenum"><a name="Page_134" id="Page_134">[134]</a></span></p> + + + + +<h2><a name="chap14" id="chap14">XIV<br/>THE MINE PROMOTER.</a> +</h2> + + +<p>With the thought that has justly been +given to the place occupied (or that should +be occupied) in the world's financial and +economic affairs by legitimate mining, +there has developed a well-founded stigma +upon the operations of a class of persons +who have styled themselves by what was +formerly considered a worthy title, that +of "promoters." Since men have found +that it is as possible to go into a mining +deal with the same chances for success as +attach to any other line of investment; +since it has been proved that real, worthy +mining property does not require the +exertions of many middlemen to obtain +capital for its development; and since it +has usually turned out that these "promoters" +have handed the hot end of +deals to their investors, it is not to be +wondered that some sort of a brand would +attach itself to the men who are not in +the business to benefit the industry of +<span class="pagenum"><a name="Page_135" id="Page_135">[135]</a></span> +mining in the least, but really for the +selfish gains which they can pocket at +the expense of the industry.</p> + +<p>These men are legion. The mails are +laden with their seductive letters and +"literature." Brokerage firms are numbered +among these leeches on legitimate +mining. Charlatans appear almost daily +upon mining scenes. The men who engage +in these deplorable practices are +not from any one walk in life: they spring +up from various branches of our social +structure. The general public has learned +that a very prominent Boston magnate +will not scruple to promote a mining +property even though it lacks the merit +essential in attracting the conservative +capitalist. Thousands of people of small +means throughout the United States and +Canada have been recipients of nicely +worded and familiarly-addressed letters +signed by the son of a famous American +author. This son, himself a writer of +some repute, presumed to speak to his +"friends" concerning a mining property +which he promoted and into which he +was glad to allow them to get with him +<span class="pagenum"><a name="Page_136" id="Page_136">[136]</a></span> +"on the ground floor." He frankly stated +that he was not offering such privileges to +the big capitalists. He inwardly knew +that such men do not require holdings in +the Cobalt or any other region. Through +the splendid work carried on by the Government +postal authorities many of these +frauds have been exposed and the perpetrators +brought to justice. In January, +1912, the above-mentioned author, together +with a number of his ilk, were +brought before the Federal Grand Jury, +and found guilty.</p> + +<p>It is not the men of great capital who +are induced, as a rule, into the deals of +the "promoter." It is usually the common +people, the persons of small means +who have saved up a little spare money +from which they hope to realize competencies +for rainy days—a class of beings +inexperienced in investments—who become +the dupes of the promoter.</p> + +<p>There have been notable exceptions to +the statement that capitalists do not yield +to the seductions of these men, but recurrences +are liable to be few. The great business +man is fortified by experience against +<span class="pagenum"><a name="Page_137" id="Page_137">[137]</a></span> +forms of treachery and he is, therefore, not +so susceptible to the allurements of any +"promotion," be it mining or otherwise.</p> + +<p>If one investigates these advertised +mining "promotions," he will often find +that the money paid in by the small investors +purchases a very small portion +only of the capitalization. The men who +conceived the scheme of "promoting" a +concern have carefully arranged to hold +a majority of the stock, so that should +there, by any chance, prove to be a mine, +they are the ones who will reap the greatest +benefits. Further, it often transpires +that the contributions of cash that purchase +the small interests do not perform +the function of development for which +the stock was ostensibly put upon the +market. Perhaps somebody has a desire +to get rich quickly. The operations of +such frauds are so obscured and so complex +to the average individual that sufficient +evidence can seldom be procured +to prove any violation of law.</p> + +<p>A witty newspaper paragrapher once +remarked that out in Nevada the old +adage "Death loves a shining mark" +<span class="pagenum"><a name="Page_138" id="Page_138">[138]</a></span> +was changed to "Death loves a mining +shark." It would seem, however, that if +Death were to love the person bearing the +odious, well-understood title of "shark" +enough to claim him early, the business +of mining would be materially benefited. +The post-office officials of the United +States are to be commended for their +efforts at curbing the despicable operations +of these fakirs. Occasionally the +papers come out with the news that a +firm's offices have been raided and their +business stopped. These news items fall +as awakeners upon the hundreds of gullible, +middle-class persons all over the +country who are known to actually force +their cash remittances upon these fraudulent +operators, much upon the plan of a +department store's supposed bargain sale.</p> + +<p>In spite of the "bad name" that has +been attached to the persons engaged in +starting up enterprises, there is a real +need for more activity in the matter of +inaugurating real, legitimate mining enterprises. +Persons who devote their brains +and energies in the direction of furthering +worthy mining propositions do really +<span class="pagenum"><a name="Page_139" id="Page_139">[139]</a></span> +"promote" the interests of such companies. +What shall such persons be called +if not "promoters"? There does not +seem to be any other word that expresses +the occupation of such persons. The +real solution of this dilemma in which +the honest men engaged in such work find +themselves placed is to denounce, forcefully, +the charlatan as being not a real promoter +but a gross misrepresentation of one.</p> + +<p>Let us, therefore, remove the odium +from this title and give our approbation +to those persons who are earnestly endeavoring, +by honest means, to place +mining enterprises upon strictly business-like +footings. The mining industry needs +promotion and promoters. +<span class="pagenum"><a name="Page_140" id="Page_140">[140]</a></span></p> + + + + +<h2><a name="chap15" id="chap15">XV<br/>INCORPORATION AND<br />CAPITALIZATION.</a> +</h2> + + +<p>Let us consider the legitimate financing +of a new or a reorganized, worthy, mining +proposition. It is the universal custom to +own and work a mine under the laws that +govern a corporation and, for this reason, +the mining man of the day is familiar with +the practices of incorporating.</p> + +<p>It is something of a question at the +start to decide what is a fair price to fix +upon a property as a whole—that is, to +decide what the capitalization should be. +There is no rule to be followed in this +matter. Some organizers will decide to +capitalize at what is expected will be the +value of the property after some time. +Other men will stick to the idea that it is +the proper thing to capitalize for what +the property will invoice at the time. +The higher the capital stock, the greater +number of shares there are for sale, usually. +With a conservative capitalization, +<span class="pagenum"><a name="Page_141" id="Page_141">[141]</a></span> +there may be fewer shares for sale, but +each share is worth correspondingly more +and the chances are much better for an +advance in the price per share whenever +the mine becomes productive. There are +investors who will carefully investigate +this feature and will shun any mining +stock which has any appearance of over-capitalization. +It would be well if all +investors were to follow this precaution.</p> + +<p>But what about the price at which to +capitalize a prospect? By a prospect we +here mean a property that has been favorably +reported upon as worthy of development +but in which, up to date, there is +little, if any, showing of values or reserves. +The engineer's report has recommended +the property as containing the +possibilities of a mine. How much is it +worth? Can he or can anybody even +roughly estimate the sum? An engineer +frequently does fix the sale-purchase price +of a property, but it is not so usual for him +to decide upon a valuation for capitalization. +A very good guess may be made, +perhaps, if there are similar and neighboring +properties which have been developed. +<span class="pagenum"><a name="Page_142" id="Page_142">[142]</a></span></p> + +<p>Assuming a prospect that has been +reliably reported to the owners as possessing +the earmarks of a mine and as +warranting expenditures for exploitation, +upon what basis should a company be +capitalized? If the owners of the property +have capital, the chances are that +they will not care to share their holdings +with other parties. But very frequently +worthy "prospects" are held by men of +no means, and in order to develop their +mines the owners feel the necessity of +coöperation with parties who can furnish +working funds. In every such instance, +there will arise this debate as to the proper +basis of capitalization.</p> + +<p>There is no human means of arriving +at a <i>close</i> valuation of any prospect, so +it becomes a matter of pure judgment as +to future probabilities and the possibility +of placing the stock at the most advantageous +price. A company will, therefore, +be stocked for some round number of +shares, say 100,000, upon which some +empirical par valuation, say $1, is placed +per share. This is not to be understood +as stating nor assuming that the property +<span class="pagenum"><a name="Page_143" id="Page_143">[143]</a></span> +has a present valuation equalling the par +of the entire capitalization. Who would +assert that any mere prospect ever had +such a value as $100,000? No, it is not +the intention of the organizers to claim +that the ground is worth the par valuation; +but some start must be made and +so, in the absence of something precise, +round numbers are made to do service.</p> + +<p>Stock is then offered at figures much +below the par valuation and in such +quantities as will maintain sufficient capital +in the treasury of the new concern to +get the property's exploitation under way +and to so sustain it as to make the prospect +grow into a mine.</p> + +<p>If shares are offered at 10 cents, it +does not mean that a prospect is worth +even that valuation. It does mean (we +are considering now only the operations +of honest concerns) that the men who are +managing affairs believe that the sale of so +many shares at ten cents each will furnish +adequate means for the development and +equipment of the mine. Therefore, there +is a <i>prospective</i> valuation placed upon all +such enterprises. +<span class="pagenum"><a name="Page_144" id="Page_144">[144]</a></span></p> + +<p>Is an investment in such a company to +be considered as gambling? If there have +been sound assurances from reliable examiners +concerning the likelihood of the +ground carrying the essentials of a mine +and the only uncertain element is the +ultimate magnitude of the mine, then +we might say that the investment is not +a gamble at all, since there is no chance +to lose. The purchase of such stock is a +very sane investment and there is no +telling what the returns may reach.</p> + +<p>When incorporating a new company, +it has become the fashion for the owners +of the ground to exchange their titles +for certain specified fractional interests +in the company. This is effected usually +by going through the formality of having +the owners sell their holdings outright +for the entire issue of the capital +stock. Then, according to prearranged +agreements, these owners donate to the +treasury of the company a portion of +this capital stock to be henceforth termed +"treasury stock." The first step makes +the capital stock "fully paid for," since +it has been accepted in full payment for +<span class="pagenum"><a name="Page_145" id="Page_145">[145]</a></span> +the property. The second step supplies +the company with the necessary means +for raising funds to develop.</p> + +<p>There can be no reasonable objection +to this practice. But there is much criticism +of the usual apportionment of the +owners' and the treasury stock. It is +agreed that the incorporators are, as a +rule, greedy in this respect, since they +generally issue more than 50 per cent. +(and frequently 60 per cent.) of the capital +stock to themselves and expect to +float the project to success upon the +money derivable from the sale of the +balance or treasury stock.</p> + +<p>Is a mere prospect, even under the +best natural conditions, plus the effort +incidental to the organization of a mining +company, worth one-half or more of +a producing mine? During an extended +experience in the business of converting +discoveries into patented claims and prospects +into mines, the writer has found +that <i>there is never an owner who is willing +to sell a developed mine for twice the price +he had set upon the original prospect</i>. The +valuation of his holdings goes up by +<span class="pagenum"><a name="Page_146" id="Page_146">[146]</a></span> +greater multiples than mere doubling or +even trebling and it is a rare thing to +find a man willing to sell out a proved +mine at less than ten times the prevailing +valuation that would have been placed +upon the same piece of property before +its development.</p> + +<p>Hence, there is no propriety in the act +of self-appropriating half the capital stock +by the organizers. Investors should be +wary about taking interests in companies +which have been so organized. If an +owner believes that a mine is worth ten +times as much as a prospect, let him be +consistent and offer his undeveloped property +for a tithe of the capital stock in the +anticipated mine. If he has a worthy +piece of ground, he will reap the same +benefits as the holders of the stock who +place their cash against his title to a tract +of virgin territory. If he will not thus act +fairly, it indicates either a questionable +piece of property or an avidity undesirable +in a partner. It is accordingly advisable +to shun offerings in such concerns.</p> + +<p>Another matter to be considered here +is that of overloading a fairly good mining +<span class="pagenum"><a name="Page_147" id="Page_147">[147]</a></span> +enterprise with so much capital investment +that the property cannot be +made to pay proper dividends and fair +interest on the capital. Many worthy, +though perhaps small, mining concerns +have made failures through a disregard +for this economic feature. The proper +adjustment of this matter is a serious +thing and it should not be passed over +lightly. Investors should look into this +phase of mining thoroughly. +<span class="pagenum"><a name="Page_148" id="Page_148">[148]</a></span></p> + + + + +<h2><a name="chap16" id="chap16">XVI<br/>MINING INVESTMENTS.</a> +</h2> + + +<p>One should be able to establish, in his +mind, a distinction between the value of +investments in operating mines and in +prospective mines; and he should likewise +be competent to fix some difference in +his attitude when purchasing the stocks +in these dissimilar projects. One should +invest in an established mine with the +same business precautions that would +guide him in buying an interest in a mercantile +establishment.</p> + +<p>It is possible to obtain, through competent +engineers, the approximate present +valuation and the probable life of any +mine and thus to arrive at conservative +figures that will govern one's investments. +But, when debating the purchase of stock +in a prospect, a man should learn all the +available facts concerning the geology +and the organizers and should then decide, +in his own way, whether he cares to +make the purchase. Even the prospects +offering the finest inducements have been +known to disappoint, just as some less +promising prospects have occasionally +exceeded expectations.</p> + +<p class="center"><a name="illus16" id="illus16"><img src="images/illus16.jpg" alt="Mill of the Roodepoort-United Mines, Transvaal, South Africa." /></a></p> +<p class="caption">Mill of the Roodepoort-United Mines, Transvaal, South Africa.</p> + +<p><span class="pagenum"><a name="Page_149" id="Page_149">[149]</a></span></p> + +<p>So, while there are certain safeguards to +investments, there should also be accepted +the uncertainties which must accompany +the placing of faith in unseen things.</p> + +<p>The same general rules for business +success will attend both commercial and +mining enterprises. Any incorporation +must be handled according to recognized, +successful methods, no matter what its +scope or activity. In most lines of business, +there is a likelihood of growth with +longevity, there being no reason to limit +the life of the usual mercantile business. +With advancing years, a manufacturing +company, for instance, with good management, +will establish a reputation and will +gradually increase its business and its +stock in trade. But with a mine, the +business is one which is most successful +only when actually depleting the assets +at the most rapid rate. With some kinds +of mines such as coal, placer, iron or the +"reef" gold mines of the Rand, the life can +<span class="pagenum"><a name="Page_150" id="Page_150">[150]</a></span> +be very accurately forecast and all activities +may be planned for specified periods.</p> + +<p>In some kinds of mining ground—as +for instance, the irregular masses of Leadville +or the crooked and uncertain veins +of Tonopah—there can be no predictions +that will reliably or even approximately +decide the probable life of the mining +activities of any company. The duration +of mines of this second class is wholly +problematical. A few years ago, there +was much discussion of this subject and +one writer, who had collected statistics +over an extended period and covering +various kinds of mines, arrived at the +conclusion that the average life of a mine +is about eleven years. J. P. Wallace, in +his work, <i>Ore Deposits for the Practical +Miner</i>, in discussing this point says, "The +average mine, if continuously worked, +seldom lasts longer than three to five +years. A mine is valuable not for what +it has produced, but for what it is capable +of producing." This opinion cannot be +borne out by facts, for the brevity he +ascribes to the average mine is altogether +unreasonable and his statement is pessimistic. +<span class="pagenum"><a name="Page_151" id="Page_151">[151]</a></span> +The cases of mines which have +petered out in three or five years are +exceptionally few. It must be that the +experiences of this author have been in +"pockety" districts, for he could not +have lived in any of the worthy mining +camps of the world very long and have +come away with any such notion.</p> + +<p>To take care of this intrinsic feature of +mining, and to place propositions fairly +before the public, there should be attention +given to the matter of recovering +the invested capital before the expiration +of activities through the exhaustion +of mining assets, the ore bodies. This +practice, known as "amortization," is +being given more and more consideration +as people come to realize this peculiarity +of mining. Some companies are now so +organized and managed that there is a +guaranteed refund, at stated periods, or +whenever profits have accrued, of fractions +of the invested capital with accumulated +interest thereon. These funds +are calculated to continue over the number +of years which it is presumed the +mines will live so that upon the cessation +<span class="pagenum"><a name="Page_152" id="Page_152">[152]</a></span> +of mining, the owners of the stocks will +have been completely reimbursed with +their original outlay in addition to the +dividends that have resulted from the +success of the enterprise. It is here that +the problem of the life of a mine enters +into economics, and it is important that +it be given its due share of study. Amortization +is not of American origin and it +has not been adopted in this country to +the extent which it is bound to be in the +future.</p> + +<p>One means of providing against an +extinction of a mining company's activity +with the exhaustion of the ore bodies in +the mines is to provide new mining territory +to which operations may be transferred +at the proper time. This plan has +been very successfully carried out by a +number of large mining companies. When +a mining company has been maintaining +its identity for a considerable period, it +has reached a very desirable stage of +economy in the make-up of its various +lists of officials, superintendents and engineers. +All this efficiency can be very +readily transferred to the operation of +<span class="pagenum"><a name="Page_153" id="Page_153">[153]</a></span> +virgin mining property. Often much of +the equipment of a mine can be moved +and used again. When a mine is known +to be nearing its finish, there is a hesitancy +on the part of the owners in replenishing +the equipment and sometimes the mining +is kept up through the use of worn-out, +inefficient apparatus when, were the owners +expecting to continue mining, they +would purchase and install the new +equipment when it is needed.</p> + +<p>One company in the San Juan region of +Colorado prepared for the contingency by +purchasing neighboring property to which +it moved its operations. Another large +company bought a large piece of mining +property in Mexico, although its initial +operations were in Colorado. Placer mining +companies frequently dismantle, move +and re-erect dredges. +<span class="pagenum"><a name="Page_154" id="Page_154">[154]</a></span></p> + + + + +<h2><a name="chap17" id="chap17">XVII<br/>MINE EQUIPMENTS.</a> +</h2> + + +<p>There is a constant tendency toward +the adoption of machinery for the performance +of every mining act which, +formerly, was done by manual or animal +labor. There are good reasons for this +tendency. Good, trained labor is scarce; +wages are slowly but gradually rising; +ores of lower grade must be mined, and +the tonnages must be correspondingly +greater. The increased economy in production +can be brought about by the +adoption of devices that will supplant, +and even excel, muscular effort.</p> + +<p>A machine can now be installed and can +be operated by a single man to perform +the work formerly done by many men. +There have been machines invented to +entirely, or partially, perform every operation +in and around mines, and one might +imagine an ideal mine in which all such +machines were installed. But even there, +<span class="pagenum"><a name="Page_155" id="Page_155">[155]</a></span> +we should have to grant the presence of +some few men, for it would not be possible +to keep all the machines working without +human, intelligent control. In such a +mine, it might be possible to maintain a +large production with very few laborers +or overseers. Fewer men means less +wages, less labor trouble, fewer fatalities, +and less time occupied in handling men +into and out of the workings.</p> + +<p>In some ways, copper mines are ahead +of gold mines in their equipment. Coal +mines have adopted car loaders which +as yet and without any very good reasons +metal mines have not.</p> + +<p>Plants for mines must utilize the same +sources of power as are used by any other +plants. Steam and water have been the +usual forms, but electricity is gaining in +favor in places where it can be cheaply +obtained. At a coal mine, we naturally +expect to see all the power generated +through the combustion of coal under +boilers. At metal mines—which are frequently +remote from sources of coal +supply—we run across the use of expensive +<span class="pagenum"><a name="Page_156" id="Page_156">[156]</a></span> +coal for all power purposes. When it +is possible to obtain a sufficient supply +and head, water is adopted to furnish the +required power for operation. At mines, +with water sufficient to produce a part +only of the needed power, we may see +both steam and water power utilized. +In the cases of some mines which are +distant from sources of both coal and +water supply, power is generated at +points where stores of natural energy +are available for use and the power is +transmitted (usually as electricity, sometimes +as compressed air) over long distances +to the mines.</p> + +<p>Some mines cannot be economically +operated without the treatment of the +ores upon, or close to, the mining property. +With certain sorts of low-grade +ore, or with those kinds of ores that may +be concentrated before shipment, provision +should be early made for the erection +of appropriately designed mills. We say +the subject should be considered early, +but we do not advocate the premature +erection of any mill. The hills of the +<span class="pagenum"><a name="Page_157" id="Page_157">[157]</a></span> +Western mining states are dotted with +monuments to men's error in this particular. +Here and there (not in our own +country alone, but throughout the mining +world) one may run across an abandoned +mine plant, a complete mill, a smeltery, +a railroad or an aerial tramway, all prematurely +provided for outputs which +failed to materialize.</p> + +<p>There are men still trying to succeed +in the mining business while thinking it +is essential in mining that a complete +plant be the first thing given attention. +Upon the showing in a ten-foot hole, +such men will induce capital to take +interests enough to provide the wherewithal +for purchasing and installing an +equipment capable of handling and treating +the output of a big mine. This is +a grievous mistake that comes about +through misconceptions. It is often true +that ores of the kind these mines are +expected to produce should be treated +upon the ground. But it is also true, +and far more essential, that there be +enough ore to supply the treatment +<span class="pagenum"><a name="Page_158" id="Page_158">[158]</a></span> +works. It is rank folly then to spend the +money needed to make a mine upon a plant +to handle the product. Money should +be spent, first, in exploitation and proving +the value of a property. If the proof +is forthcoming, it is then time enough to +erect the plant. Meanwhile, during the +development stages of a mine, the proper +amount of experimentation can be conducted +to ascertain the correct process for +treating the ore. If ores are produced in +abundance, they may be shipped for +treatment in custom works until such +time as the company's own plant is +ready; or the ores may be stocked up for +emergency mill supply at future times +when it may be compulsory to curtail +the mine production because of accidents +or other unforeseen causes.</p> + +<p>One who considers these matters from +an economic standpoint will recognize +that there must exist some proper ratio +of mine output to treatment capacity. +Just what this relationship is constitutes +a serious problem for each particular +mine and there cannot be stated any +<span class="pagenum"><a name="Page_159" id="Page_159">[159]</a></span> +ironclad rules that may be applied to all +cases.</p> + +<p>In the first place, we believe <i>a mine +will be operated at its greatest economy +when it is making its largest and most +regular output</i>. This being the case, we +must agree that the plant and mill must +be capable of taking care of this maximum +output. It would then seem axiomatic +that the equipment must be calculated +according to the mine's capabilities. +But, in the youth of a mine, how are we +to know what its mature capacity will +be? Here comes the rub.</p> + +<p>Very nice discussions along this line +have been indulged in by British and +American representative mining men. +When speaking of operations that are +typical of some foreign mining districts +and especially those that possess ore-bodies +whose extents are readily calculated, +no clever prophecy is required to +ascertain the proper amount of equipment. +But there are many regions, +especially in our own country, where +nobody can predict, with any degree of +<span class="pagenum"><a name="Page_160" id="Page_160">[160]</a></span> +accuracy, how extensive will prove to be +the natural reserves of any mine. It is +in such places as these that hard study +and careful guessing are needed, and we +are inclined to agree with George J. Bancroft +when he says, "To my mind, there +is more credit due to those who take up +the hard propositions and make them +pay than to those who exploit bonanzas +along purely scientific lines. The first +usually require energy, sagacity, perseverance +and, very often, daring; while the +others need chiefly cool calculation."</p> + +<p>It is a safe practice, throughout the +world, whenever there is no absolute +means of reaching figures of a mine's ultimate +production, to erect the treatment +installations in units. By a "unit" is +here meant the outfit of machinery and +the other equipment which will handle a +specified round number of tons per day. +In some districts, a unit will be for the +treatment of 10 tons; in other districts +this number may run up to 100 tons. In +the plans provisions are made for additions, +from time to time, as mining +<span class="pagenum"><a name="Page_161" id="Page_161">[161]</a></span> +development warrants. Very much the +same scheme should be followed in the +erection of the plant for carrying on the +operations, which are strictly those of +obtaining the ore from the earth. That +is, mining equipment, as well as the milling +equipment, should be on a flexible +plan so as to be readily adapted to an +increased scale of operation. There must +be space provided for harmonious additions +to the initial plant whenever such +extra parts are required.</p> + +<p class="center"><a name="illus17" id="illus17"><img src="images/illus17.jpg" alt="Spray Shaft House of Copper Queen Consolidated Mining Co., Bisbee, Arizona." /></a></p> +<p class="caption">Spray Shaft House of Copper Queen Consolidated Mining Co., Bisbee, Arizona.</p> + +<p><span class="pagenum"><a name="Page_162" id="Page_162">[162]</a></span></p> + + + + +<h2><a name="chap18" id="chap18">XVIII<br/>MINE MANAGEMENT.</a> +</h2> + + +<p>No matter how splendid a company's +holdings may be naturally, there cannot +be expected any profits from the workings +of the deposits if there be not a sound +business management. H. C. Hoover, +the prominent mining engineer and mine +manager, says, "Good mine management +is based upon three elements: first, sound +engineering; second, proper coördination +and efficiency of every human unit; third, +economy in the purchase and consumption +of supplies." And he goes on to +emphasize the fact that "no complete +manual will ever be published upon +'How to Become a Good Mine Manager.'" +In view of this damper upon +good intentions one might possess, and +granting that the subject is one that cannot +be taught (except along very general lines +possibly), no attempt will be made to +enter into arguments concerning this +important subject of Mine Management. +<span class="pagenum"><a name="Page_163" id="Page_163">[163]</a></span></p> + +<p>Good administrative ability can be +improved by cultivation just as can an +individual of the vegetable kingdom; but +there must first be the existent, innate +ability. No man should attempt such a +hard proposition as the management of a +mine, with its varied phases of activity, +unless he has found himself possessing +the fundamentals that go to assure success +in managerial positions. Furthermore, +he should not think, because he has +been successful in running a clothing +business or any other mercantile line, +that he is certain to succeed in running +a mine.</p> + +<p>The duties of directors and president +are pretty much the same in all sorts of +incorporations. But, while there are +many mining companies—and successful +ones, too—that hold upon their directorates +men who probably never saw a +mine prior to their present ventures, it +may still be stated that it is obviously +advisable to select for such places men +who have knowledge and sound ideas +concerning the industry of mining. To +be sure, if they are ignorant along mining +<span class="pagenum"><a name="Page_164" id="Page_164">[164]</a></span> +lines, they can, and often do, place +the blame for their shortcomings upon +their manager, their consulting engineer, +or their superintendent. But this is not +an auspicious state of affairs and it were +well for stockholders to see to it that +they elect to the directorate men who +are cognizant of mining economics.</p> + +<p>The well-organized mining concerns of +today maintain their engineering staffs +just as completely as do other great technical +businesses. The engineer is a very +important man in mining affairs. His +duties are probably more varied than those +that appertain to any other sort of engineering. +His operations will extend into +the realms of the mechanical, the civil, +the chemical, the metallurgical, the hydraulic, +and the electrical engineers. He +must be posted along the latest conceptions +in geology, mineralogy, and physics. +Besides he should be an accurate and +rapid mathematician and draftsman.</p> + +<p>The manager finds in the engineer his +most helpful and trusted aid. Often +the engineer performs many of the functions +usually attaching to the office of +<span class="pagenum"><a name="Page_165" id="Page_165">[165]</a></span> +manager and, in the absence of the latter +person, he may attend to all of the management. +As stated above, the qualities +that make a good manager are inherent; +hence, to a certain extent, we may hold +the deduction that good mining engineers, +also, must possess innate qualities. Yet +there may be pointed out this distinction +between the make-up of a good man for +manager and that of a good mining engineer: +one, as said, cannot learn his business +except through his own experience, +while the other can receive vast benefit +by <i>study</i> of a theoretical nature and by +<i>practice</i>.</p> + +<p>Lately, there is much said about the +<i>consulting</i> mining engineer. His field of +usefulness is broad. He can be asked to +add his opinions and recommendations +to those of the regular engineer, at any +time; he can be used at times when the +duties are too much for the resident +engineer; he can be called upon to substitute; +he need not live near the property, +but may visit it periodically. Thus, +while his retention is deemed remunerative, +his services are available at a +<span class="pagenum"><a name="Page_166" id="Page_166">[166]</a></span> +fractional part of what he would demand +if he were employed exclusively by the +company.</p> + +<p>Under ordinary working conditions, it +should be considered just as essential for +a mine to take an occasional inventory +as it is for a mercantile establishment. +In truth, there is far more need +in mining operations of the knowledge +thus derived than in any other business. +In mining, as already suggested, the business +is one of selling off the stock in trade +without replenishing it. The opening +of more reserves of ore is not bringing +more goods into the stock, but it may be +likened to simply unpacking more goods +in the storehouse. No new reserve can +be added—they can simply be found and +unpacked, as it were.</p> + +<p>This finding entails the greatest amount +of concern, and upon its successful practice +depends the life of the mine. The +presumption is strong that many mines +have been abandoned while they really +contained possibilities; but lack of knowledge +of things geological, or perhaps +failures to explore, permitted the operators +<span class="pagenum"><a name="Page_167" id="Page_167">[167]</a></span> +to remain ignorant of the splendid +assets that were available. Proof of this +error has been found in many mines that +have been subsequently re-opened.</p> + +<p>The work of sizing up the quantity +and the value of available ore is known as +sampling. It is not well to limit the +practice of sampling to the times only +when a sale is contemplated. Reports +based upon careful sampling should be +issued frequently. Some companies employ +men whose sole occupation is the +daily sampling of every working face. +The assay results obtained from the +collected samples inform the superintendent +just "how the stuff is holding up" +throughout the mine and he governs his +work accordingly. At longer intervals, +the engineer should go into the work +more thoroughly by not only taking +very careful, scientific samples (not the +usual "grab" samples taken by the daily +sampler) but also by making careful +memoranda of the physical appearances +of the ore with its thickness and all geological +data that will tend to throw light +upon the permanency of each body. The +<span class="pagenum"><a name="Page_168" id="Page_168">[168]</a></span> +engineer's monthly report will then be a +substantial guide to the manager and the +directors.</p> + +<p>Managers, too, are expected to make +periodical reports—monthly, quarterly, +or annually—to the directors who, in +turn, issue reports to the stockholders. +The reports of managers and directors +are not usually technical in their nature, +although sometimes it is the practice of +a manager to attach the engineer's report +to his own for the perusal of such readers +as may desire to dip into the technical +affairs of the operations. Usually, the +directors' reports are of a simple, financial +nature, stating the conditions of +affairs in plain business language to the +persons whose cash has been invested in +the enterprise.</p> + +<p>It may happen that, for some reason, +a special report is desired by the directors +who may be contemplating some consolidation +or other financial move and both +the manager and the engineer will be +required to furnish detailed statements +concerning their respective branches. If +a sale is planned, it may be that not only +<span class="pagenum"><a name="Page_169" id="Page_169">[169]</a></span> +the company's engineer, but very probably +another engineer engaged by the +contemplative purchaser, will make examinations. +They may work together +or separately, as best suits them mutually, +but it is upon the reports issued by them +that the satisfactory price for the exchange +of title is based. +<span class="pagenum"><a name="Page_170" id="Page_170">[170]</a></span></p> + + + + +<h2><a name="chap19" id="chap19">XIX<br/>PRICES OF METALS.</a> +</h2> + + +<p>There is only one product of mines +that has a constant market value, viz., +gold. The precious metals, gold, silver, +and platinum, are sold by the Troy ounce: +the base metals are all handled and dealt +with on avoirdupois weights. Copper, +lead, zinc, tin, and nickel are quoted in +cents per pound avoirdupois. Iron and +manganese are curiously sold by mines +to smelting companies on the ton of ore +basis.</p> + +<p>Since gold has been found in every +known rock of every geologic age and is +of world-wide distribution; since it possesses +physical properties that long ago +placed it at the head of the list of desirable +metals; and further, since it does +not occur in very condensed amounts, +generally; this metal was selected as the +standard of value by which the worth of +every other commodity in the world is +fixed. It must therefore be possessed of +<span class="pagenum"><a name="Page_171" id="Page_171">[171]</a></span> +a fixed market value, and one never looks +for quotations on pure gold. The price +of pure gold is set at $20.6718. This very +peculiar value is known as the "mint +value," and is the price which the Government +of the United States pays for all of +its coinage gold. Among miners, as a +rule, the price is thought of as $20 per +ounce, and this is probably because this +is more nearly the actual return the miner +has been accustomed to obtain from companies +who have bought and treated his +ores. Most all the gold produced in the +world is associated with other metals, +such as silver, copper, or platinum, so +that the bullion recovered in milling or +smelting will usually contain the gold +alloyed with such other metals and the +gold is said to be not "fine," or pure. +The fineness of gold in the metallic state +is expressed in two ways. Jewelers have +the carat system, while mints use the +decimal system in expressing such degrees +of purity. Pure gold is 24-carat fine. An +alloy of 3 parts gold and 1 part copper +would be considered as 18-carat gold. In +the decimal system, pure gold is called +<span class="pagenum"><a name="Page_172" id="Page_172">[172]</a></span> +1,000 fine, and the various degrees of +purity are then expressed in their true +proportional amounts. Thus the same +alloy as cited above would be called 750 +fine gold.</p> + +<p>Silver has a fluctuating market value +although attempts have been made, at +times, to establish its value at some fixed +ratio to the value of gold. In fact, a +reader may occasionally run across statistics +of silver production in which it +appears as though there were a fixed +value for the metal, but this will be +found to be due to the use of what is +known as the "coinage value," which is +$1.29198. This figure will be recognized +as our old acquaintance, "16 to 1," <i>i.e.</i>, +this price for silver being one-sixteenth +of the fixed price for gold. There is +actually no such fixation, and prices for +silver are established every business day +of the year in the great metal markets +of the world, London and New York.</p> + +<p>Platinum has been increasing in market +value during recent years and the quotations +have ranged up so high that it is +now more than twice as valuable as gold. +<span class="pagenum"><a name="Page_173" id="Page_173">[173]</a></span> +The reasons for this high price are that +the production of the metal is limited, +whereas the uses for the metal have been +increasing. The greatest production of +this metal is in the Ural Mountains of +Russia, and the output from this region +is handled by a few concerns who virtually +possess a monopoly. These companies +are able to maintain the production practically +constant and to cause the market +price to fluctuate.</p> + +<p>Tin is found in commercial amounts +in but very few regions. There is but +one mineral mined as an ore of tin, viz., +cassiterite, the oxide, which is 78 per +cent tin. Tin is found in both veins and +placers and the great bulk of the metal is +now being derived from the latter type +of bodies in the Malay Peninsula and the +Straits of the East Indies. Formerly, +Cornwall produced the world's supply, +from veins. Although the United States +consumes 35 per cent to 40 per cent of the +world's production, the country does not +produce 1 per cent of this production. +Since the main source of our tin is British +territory, the markets are controlled by +<span class="pagenum"><a name="Page_174" id="Page_174">[174]</a></span> +London, and quotations are issued daily +from that center. Such quotations are +given in units of English money per long +ton (2240 pounds) of metal. However, +prices are also quoted at New York, +daily, in cents per pound, and there is a +real difference in value between the two +quotations to take care of freights and +duty. For instance, on a certain date, +quotations were Ģ190 10s, and 42c. The +average price during 1911 in New York +was 42.281 cents.</p> + +<p>The chief supply of nickel now comes +from the Canadian districts of Cobalt +and Sudbury, where this metal occurs +accompanying rich silver deposits. The +metal is sold by the pound avoirdupois +and prices in January, 1912, ranged from +40c. to 50c.</p> + +<p>Tungsten is a metal which has been +finding more and more uses of late years, +but the production has remained quite +limited. Three-quarters of the world's +total production in 1911 came from a +small district in Boulder County. Colorado. +The quotations on this metal are +given in dollars per ton of concentrated +<span class="pagenum"><a name="Page_175" id="Page_175">[175]</a></span> +ore, and the price is for a certain percentage +of WO<sub>3</sub>, the oxide of wolfram +(tungsten). The schedule of prices announced +in April, 1912, for Boulder +County ores and concentrates provides as +follows, a unit being understood to mean +1 per cent or 20 pounds per ton: For +material assaying 10 per cent WO<sub>3</sub>, $3.50 +per unit; for 20 per cent WO<sub>3</sub>, $4.40 per +unit; for 40 per cent and more, $4.90 per +unit. Ore containing, say, 50 per cent of +the tungsten radical is thus salable at +$245 per ton, the mineral itself thus +bringing a price of 24-1/2 cents per pound.</p> + +<p>Although copper is used and sold in +very large lots commercially, it continues +to be quoted upon the pound basis. The +United States produces about 60 per cent +of the whole amount mined in the world +and the prices are made in New York +daily. The amount of copper mined in +this country in 1911 was 1,431,938,338 +pounds and the price varied between +11.989 cents and 13.768 cents. There are +always at least two quotations every day +on copper, one being on "lake" and another +on "electrolytic". By these terms +<span class="pagenum"><a name="Page_176" id="Page_176">[176]</a></span> +are meant, respectively, copper produced +in the Lake Superior region and the copper +from other mines. The Lake Superior +copper is the purest in the world and it +always sells for a fraction of a cent per +pound more than the other coppers which +are refined by electrolysis.</p> + +<p>Metallic iron is reduced from a number +of different ores, but by far the bulk +of pig-iron is made from the oxides and carbonates +of iron. Such ores, in the United +States, are obtained principally in Minnesota, +Michigan, Wisconsin, and Alabama. +As already stated, the quotations on iron +are based upon the ores rather than the +pig-iron, and there are two types of such +ore recognized. If the ore is suitable for +the making of Bessemer steel, it is given +a certain quotation per ton, while if it +cannot be used for such a purpose, it is +given a non-Bessemer rating and is used +for casting. The greatest iron-mining +region in the world is in the Lake Superior +country. Here are a number of districts +that are known as "ranges." In +some of these ranges mining is by underground +methods, while in others the +<span class="pagenum"><a name="Page_177" id="Page_177">[177]</a></span> +excavation is entirely in the open by the +use of great steam shovels. The outputs +of these ranges go by rail and water to +the great smelting points along the Great +Lakes and at Pittsburg.</p> + +<p>The metallic zinc on the market is +known as spelter. All quotations on this +metal are given in two systems, the +"pounds Sterling per long ton" and the +"cents per pound." The average prices +during 1911 were respectively, Ģ25.281 +and 5.758c. The American quotations +are frequently given in the unit of dollars +per hundredweight. This offers no confusion, +whatever, for under this nomenclature, +the average price for 1911 would +be stated as $5.758. In the zinc-mining +regions of the Mississippi Valley, the +producers of ore have a practice of putting +the mines' products through their +own mills at the mines and making concentrates +of the zinc mineral, which is +usually blende or "jack," and this concentrated +stuff is then sold to smelting +companies at the daily quotations per +ton of 60 per cent ore. During 1911 the +average price paid in the Joplin District +<span class="pagenum"><a name="Page_178" id="Page_178">[178]</a></span> +was $41.45. Since this amount bought +1,200 pounds of metallic zinc, it is evident +that the miner received only about 3.45 +cents per pound for his metal, the discrepancy +between this sum and the New +York quotation being consumed in costs +of smelting and shipment and in profits +to the middlemen.</p> + +<p>Lead is sold upon a plan exactly similar +to zinc. It has the same various quotations. +For example, the 1911 prices in +London, New York, and Joplin averaged, +respectively, Ģ13.970, 4.420c., and $56.76.</p> + +<p>Quicksilver is sold by the "flask" of +75 pounds. The price ranges in the +neighborhood of $43 to $45.</p> + +<p>There are numerous other metals, but +the more common ones are given above. +Below is given a graphical exhibit of +the course of the prices of lead, spelter, +standard (electrolytic) and lake copper, +pig-iron, and tin for a number of years. +A study of this chart is interesting in +noting the waves or fluctuations that +have covered periods of years. This +chart is reproduced from <i>The Engineering +and Mining Journal</i>.</p> + +<p class="center"><a name="illus18" id="illus18"><img src="images/illus18.jpg" alt="Diagram of Metal Market for One-third of a Century" /></a></p> +<p class="caption">Diagram of Metal Market for One-third of a Century</p> + +<p><span class="pagenum"><a name="Page_179" id="Page_179">[179]</a></span></p> + + + + +<h2><a name="chap20" id="chap20">XX<br/>MINE ACCOUNTING.</a> +</h2> + + +<p>While there has been a great deal of +attention given to the matter of keeping +systematic mine accounts, both in the +main offices and those at the works, there +still is a lack of uniformity in practice. +In the bookkeeping of manufacturing +and mercantile institutions, uniform practices +or systems have become a feature. +But there have been good reasons for +the absence of similar methods in mine +offices.</p> + +<p>There will be found to exist some uniformity +in the accounting as practised +by the mines of a particular district which +are operating under similar conditions; +but when one considers that the mines +of various districts have quite dissimilar +conditions throughout almost every phase +of the business, it is not surprising that +different methods must be employed +in the keeping of their accounts. It is +unavoidable. Mines extracting different +<span class="pagenum"><a name="Page_180" id="Page_180">[180]</a></span> +metals or different kinds of coal will find +it necessary to keep quite unlike records. +Mines with their own mills will likewise +require a different system of accounting +from those that ship their products to +custom works. Open and underground +mines will need quite different styles of +accounts.</p> + +<p>So, it is not possible to recommend any +one method of mine accounting. The +best way to become posted upon this +subject is to investigate the schemes, +the blank forms and the books of some +of the established, successful companies +here and there about the world. In this +way, ideas will be collected, and it will +be possible for the investigator to evolve +his own schemes for recording the accounts +of his company.</p> + +<p>It has come to be recognized as contributing +to economy to maintain systems +of accounts that will enter into minutiæ +concerning every branch of the business. +Just how far this can be carried without +creating office expenses that will exceed +the benefits to be derived from the +detailed information remains a question +<span class="pagenum"><a name="Page_181" id="Page_181">[181]</a></span> +to be decided by each manager. There +are companies with accounts so perfected +that it is possible to quickly ascertain, to +a fraction of a cent, what the expenditures +of any day have been for any +particular part of the operations, as for +instance, the haulage per ton underground, +or the fuse employed in the blasting +of a particular stope. Such details +are highly useful since they prevent leaks +in the costs; but it is a problem to +decide to what extent it is economy to +carry them. These data also furnish the +superintendent information concerning +the efficiency of his many laborers and +the machinery. Labor-saving inventions, +such as the printed blank form, and the +loose leaf, are put to excellent use in +mining offices.</p> + +<p>There are strong companies operating +great mining plants whose records are +open to the perusal of any individual, be +he stockholder or not. In the office of +such a company, a person may turn to +the accounts and see for himself how +much it costs to maintain each and all +of the operations and he can learn the +<span class="pagenum"><a name="Page_182" id="Page_182">[182]</a></span> +size and the value of all shipments of products +of any sort—ore, concentrates, coal, +matte, or bullion. Again, there are those +companies that are so secretive about +everything connected with their work that +even the Government is unable to learn +any particulars, except at very great +trouble.</p> + +<p>The Portland Gold Mining Company, +operating a great property at Victor, in +the Cripple Creek District, is an instance +of the first sort, while the United Verde +mine, at Jerome, Arizona, may be taken +to represent the second sort. Both of +these mines have made splendid records. +It cannot be seen wherein the second +mine is required to maintain secrecy, for +there is no danger of litigation from +neighboring property holders, the one +company controlling, practically, the +mining in its neighborhood. The presumption +is that the owners hold their +business to be nobody's else and they +have a right to keep their affairs secret +if they desire. On the other hand, the +Portland is surrounded by good mines +which profit by knowing the details of +<span class="pagenum"><a name="Page_183" id="Page_183">[183]</a></span> +operating costs and incomes of their +neighbor; but it is found to cost no more +to be open and above board than to keep +things under guard. The Colorado Fuel +and Iron Company will not divulge any +particulars concerning its mining movements; +but there are other just as great +mining companies that will explain every +detail.</p> + +<p>The Clark copper companies, of Butte, +Montana, did not permit much information +to escape their offices, while the +neighboring Amalgamated companies gave +particulars freely.</p> + +<p>The question of secrecy should be considered, +and if there is no very good +excuse for maintaining a privacy it should +not be instituted. The trend of all modern +thought is along the line of publicity +in all our dealings. The only persons +who have a reasonable right to be secretive +are those who have something they +do not care to share or divulge to their +fellow-men. Law breakers, tax dodgers, +and trespassers, could be put into one +class; persons doing research work which +it is premature to publish are a more +<span class="pagenum"><a name="Page_184" id="Page_184">[184]</a></span> +respectable class; manufacturers with +strong competition in the sales markets +are in a measure excusable; even a mine +which is producing some material in the +sale of which it attempts to maintain a +monopoly might be excusable. But it is +hard to see what excuse or benefit there +is for a coal or a copper mining company +to prevent a knowledge of its affairs, if +the business is being conducted along +strictly legitimate lines. +<span class="pagenum"><a name="Page_185" id="Page_185">[185]</a></span></p> + + + + +<h2><a name="chap21" id="chap21">XXI<br/>INVESTMENT IN MINING STOCKS.</a> +</h2> + + +<p>As a feature of investment in mining +stocks, there has always been a more or +less open lure. Generally much larger +returns are promised or are expected than +in other kinds of investments. There +may be absolutely no intention on the +part of the seller to create this impression; +but there does, somehow, exist in +the memories of people accounts of +wonderful fortunes that have been made +in mining.</p> + +<p>There is an amount of uncertainty +about any mine or prospect that appeals +to the speculative proclivities in humans +and it is hard for most persons to resist +the notion that greater or richer bodies +of ore may, at any time, be discovered +in their particular mining properties. +Concerning the average stock purchaser, +then, we may conclude that it is speculation +rather than true investment that +he is seeking. +<span class="pagenum"><a name="Page_186" id="Page_186">[186]</a></span></p> + +<p>The writer hopes that, even in the +short preceding discussions, the reader +will have come to agree with him and to +understand that safe investments are as +possible in mining as in any other business. +It would be a great benefit to this +great industry of mining were the public +taught to take interests—that is, financial +interests—in mining concerns with the +same precautions and with the same +sound business sense that accompany +the purchases of interests in other enterprises. +Writing along this line of thought, +Mr. P. A. Leonard has this to say in +<i>The Mining World</i>: "One very general +difficulty seems to be that the man unacquainted +with mines who is asked to +invest either expects an unreasonable +return for his money, or he blindly closes +his eyes and takes what he calls a 'flyer,' +expecting little more from it than he +would if he bought margins on 'change +or bet on a horse race."</p> + +<p>About the first thing that the promoters +of a new mining company do is to +issue a neat, attractive prospectus. It is +a bait, no matter how reliable these men +<span class="pagenum"><a name="Page_187" id="Page_187">[187]</a></span> +may be nor how worthy the property +they desire to work. Many of these documents +are written in absolutely good +faith and every representation is intended +to be accurate. There are occasionally +offered for sale stocks in mining properties +that warrant the fullest confidence +of the promoters and the investors. +However, careful perusal of a great many +of these pamphlets has led the writer +to the conclusion that at least 75 per +cent. of them are unreliable from the fact +that they either wilfully misrepresent or +because they grossly exaggerate the probabilities +of success beyond all reason. +Exaggeration is a habit with some people +and it is used many times with no real +criminal intent or even consciousness +upon the part of the offender. But its +effect is just as baneful when innocently +inflicted as when it is used in a premeditated +manner.</p> + +<p>Good, worthy mining property does +not need to be hawked, usually. There +have been periods of financial unrest +when it has seemed quite impossible for +honest men to dispose of interests in +<span class="pagenum"><a name="Page_188" id="Page_188">[188]</a></span> +what were unquestionably reliable mining +enterprises. At such times, there has +been nothing to gain by any amount of +teasing the public, and any attempts at +forceful disposal of interests in the concerns +have but served to kill any small +remnants of confidence that the public +may have possessed.</p> + +<p>Prospectuses are usually prepared for +the reading of small investors who may +feel inclined to risk a few dollars or, in +other words, to speculate upon the representations +contained in the seductive +pamphlets. There are a few "Don'ts" +which it would be well for any person +inclined to invest in mining stocks to +read, consider, and follow. For instance, +never invest in any new stock whose +company <i>guarantees</i> specific dividends. +Profits in mining, except in rare cases, +cannot be so accurately foretold as to +warrant such a guarantee. We should +remember that the success of any mine +depends upon many, very many, contingencies +and that some of them are invisible +and are among Nature's secrets. +Again, avoid placing any confidence in +<span class="pagenum"><a name="Page_189" id="Page_189">[189]</a></span> +those companies that are simultaneously +selling treasury stock and declaring dividends. +This is a very common practice +of the numerous "get-rich-quick" concerns +which Uncle Sam has been routing +the past few years. Such crooked practice +is difficult to eradicate, although +severe penalties are awarded the transgressors.</p> + +<p>The success which has been met in the +operation of the <i>great</i> mining companies +of the world can, in the majority of cases, +be traced to the common sense which was +exercised in the business management. +The <i>business of mining is legitimate</i>. If +mining is one of the basic industries of +the world, how could the operation of a +real mine be anything but a legitimate +business? The mere fact that there have +been neat opportunities for, and the practice +of, fraud in the growth of this tremendous +industry does not by any means, +argue that the whole thing is founded +upon unstable premises.</p> + +<p>What is needed is a presentation of the +industry in its legitimate aspect before +all kinds of investors and this can be +<span class="pagenum"><a name="Page_190" id="Page_190">[190]</a></span> +done properly and effectively only by +the rank and file of men interested in +mining. These men should place themselves +boldly on record as combating all +sorts of deals that smack of fraud, and +they should do their utmost to discourage +all delusions that may exist in the +mind of the public with reference to the +supposed lure offered by mining.</p> + +<p>There have been too many causes of +failure in mining for even a partial enumeration +of them. There have been many +errors in getting started, both on the +part of the organizers and the investors. +There have been many mistakes in management. +Many blunders have been +evidenced in the operation of mines which +made very good starts. All of these failures +are attributable to something outside +of the mine's intrinsic worth; they are +mistakes due to inexperience or misconception. +Such shortcomings should not +be tolerated in the make-up of a mine's +managerial staff.</p> + +<p>Perhaps one of the most common mistakes +of mine managers is to submit to a +condition of nepotism that is often furthered +<span class="pagenum"><a name="Page_191" id="Page_191">[191]</a></span> +by directors or stockholders. No +responsible position around a mine should +be filled by a novice. Just because a +director has two or three sons needing +situations does not make it incumbent +upon a superintendent or a manager to +jeopardize his reputation by employing +these young men. Percy Williams, a +veteran mining man, advised "Don't +take your son or nephew or your clerk +out of your store or business house and +send him to Arizona or Colorado to run +things for you at the mine. Sell out first. +If you are a director in a mining company, +do not force the manager or superintendent +to find a job for all your unsuccessful +friends and relatives. Let him hire his +own men. Don't convert your mine into +an asylum for ne'er-do-wells."</p> + +<p>As already stated, there is protection +obtainable by every investor in mining. +One may always secure, at reasonable +cost, the services of competent engineers +whose business consists in sizing up the +worth of mining property. If the services +of these men were more generally +appreciated and secured, there would be +<span class="pagenum"><a name="Page_192" id="Page_192">[192]</a></span> +a great diminution in the number of disappointments +following investments in +mining. An eastern man of means complained +to the writer about the way in +which he had been "stung" in various +mining investments. A little catechizing +brought forth the facts that he knew +absolutely nothing about mining in general +and that, worse still, he had never +investigated—that is, in a business-like +manner—any of the propositions which +had absorbed his ready money. Receiving +no sympathy during the recital of his +troubles but, instead, the assurance that +he "got what was coming to him," he +was prepared to sit up, take notice, and +listen to a severe roasting which opened +his eyes about mining matters. Now, +this man has proved successful in other +lines of business. He is a prominent +lawyer and banker in his own city and +has numerous, scattered, money-making +interests. But he was content to go into +mining without the investigation which +it is certain he would have given to any +other sort of an investment.</p> + +<p>The time should come when there +<span class="pagenum"><a name="Page_193" id="Page_193">[193]</a></span> +would not be such a prevalent "slaughter +of the innocents" in mining investments. +People must learn to curb their gullibility +in such affairs. But this has proved +almost impossible. Just as it is in the +nature of some persons to gamble, and it +takes something more than misfortune at +gaming to wean them from the vice, so it +is with a certain class of men who can not +overcome the temptations of dabbling +in mining. Such men will not desist +even when they have suffered several +delusions, and will continue to "send +their good money after their bad," absolutely +defiant of the well-meant advice +of friends who are often in position to +judge of the merits of any contemplated +investment. Probably every mining engineer +of any extended experience can +tell of instances in which he has endeavored +to discourage clients from investment +in unworthy mining enterprises +but in which the gambling instinct of the +clients has overridden the sound advice.</p> + +<p>During the early days of the wonderful +Cripple Creek District, all sorts of +wildcat tricks were successfully practiced +<span class="pagenum"><a name="Page_194" id="Page_194">[194]</a></span> +upon the "tenderfeet" and the "down-east +suckers." In one case, stock was readily +unloaded upon the representation that a +person could stand in the door of the +cabin on the property and "look right +into the shaft-house of the Independence +mine." This statement was not untrue, +although grossly misleading; for while +it was actually quite possible by the use +of a telescope to span the intervening +three or four miles, visually, the prospect +lacked the propinquity to the famous +mine that was the bait implied by the +statement in the prospectus. This is +but one of many ingenious tricks that +were played. Did the outcome of this +one fraud cure the victims of irrational +mining investment?</p> + +<p>Railroads, too, have, in the past, added +their troubles to the mining men. Recent +laws have, however, to a great extent, +mitigated the annoyances and unjust +practices that the common carrying companies +have been in the habit of committing. +It is now obligatory upon a railroad +company to treat all shippers without +favor or discrimination, so that the difficulties<span class="pagenum"><a name="Page_195" id="Page_195">[195]</a></span> +formerly experienced by one mining +company in getting enough ore cars +to transport its shipments while its rival +company could have cars in abundance, +is now almost a thing of the past. It +takes time to right all wrongs of this sort. +It is a slow matter to get laws framed, +passed through the necessary legislation, +and made effective. But the outlook is +favorable, along this line.</p> + +<p>The leasing system has exercised an +influence upon the mining activity of +many districts. By this system is meant +the custom of renting or letting the whole, +or fractional parts, of a mining property +to miners who enter upon and work the +premises, extract the ores, and pay to +the owners a specified percentage of the +receipts from the marketing of the ore. +This practice has frequently been the +only successful way of operating some +mines. It has, at times, been the manner +of operating practically every mine in +certain districts.</p> + +<p>In districts carrying pockets of very +rich ore, "high grading" has been discouraged +in this way, for the "leasers" +<span class="pagenum"><a name="Page_196" id="Page_196">[196]</a></span> +(incorrect, though common, word for +lessees) do their own mining and there is +much less object in stealing.</p> + +<p>In other instances of mines which have +been operated by the owning companies +until they were past a profitable stage, it +has been proved possible to prolong the +life of operations very materially by leasing +the property to miners, who always +work with more diligence and economy +for themselves than they ever do when +working under "day's pay." This feature +of leasing has been quite a factor in the +lives of some of the mines of the Cripple +Creek District. Until the recent drainage +of the district through the Roosevelt +Tunnel, there were numerous small—and +even some large—properties that had +worked all the ore bodies previously known +to exist above the water level of the district, +and had been obliged to shut down +because of the heavy pumping expenses. +Company operation did not longer pay. +But the plain "leaser" and his partner +could go into such old workings and they +could prospect and find ore bodies that +had escaped the observation of the superintendents. +<span class="pagenum"><a name="Page_197" id="Page_197">[197]</a></span> +The expenses incurred in +leasing are low. It is true that lessees +will not probably take as good care of +mine workings and equipment as will +"company men," and often a property +may be seriously crippled through the lack +of sufficient timbering after having been +in the hands of a set of lessees for some +time. But, on the whole, there has probably +been more benefit than loss through +the letting of leases.</p> + +<p>When, a few years ago, the plans of +the National Forestry Service were put +into effect, there was great complaint +recorded concerning the rulings that +were made against various miners. Some +very well authenticated cases of wrongs +were cited. However, it is now believed +by all fair-minded men that there has +been no intention, on the part of the +officials of the Forest Service, to interfere +with any legitimate mining enterprise. +There was a well-founded object, viz., to +put a stop to dishonest practices in obtaining +title to timber lands by the misrepresentation +of mineral finds.</p> + +<p>The General Land Office passed a rule +<span class="pagenum"><a name="Page_198" id="Page_198">[198]</a></span> +authorizing Foresters and Assistant Foresters +to make inspections of all mining +claims within their reserves and to report +to the Secretary of the Interior. The +idea embodied in this rule was that these +men, being agents of the Government and +upon the ground, are able to investigate +the facts concerning every mining claim +and its claimant and so to run across any +evidences of fraud that might be attempted +in the securing of title. Trouble +immediately arose because the Foresters +were not all experienced miners and prospectors +and so were not thoroughly qualified +to pass judgment upon the merits of +mineral lands. This weakness has been +admitted by the officers of the Service +but the excuse has been offered that there +was an immediate need for a great many +Foresters and it was not possible to secure +men trained in both forestry and mining +at such short notice. "Just as soon as +conditions became better understood, and +money was available to allow the Service +to hire men whose judgment in mining +matters could not be gainsaid, such men +were employed," says Paul G. Reddington, +<span class="pagenum"><a name="Page_199" id="Page_199">[199]</a></span> +recently Forester for the Rocky Mountain +Regions. It is true that much fraud has +been prevented in the practice of taking +up Government lands and it is also quite +true that the Forest Service is endeavoring +to uplift the mining industry in the +western portions of the United States.</p> + +<p>Mining is bound to become a still +stronger factor in civilization as metallurgical +processes multiply and there are +discovered means of more economically +extracting the valuable contents of ores. +Minerals which are not now ores—according +to the accepted, scientific definition, +because the values cannot be recovered +at a profit—will, at some future +period, become ores. It is not safe to +make any close predictions along this +line, for such marked reductions in treatment +costs have been going on during +the last few years that mining men are +entertaining great expectations. Inventions +for improvement in metallurgical +lines are being placed upon the market +so frequently that it is difficult for even +the professional metallurgist to keep +posted. This being true, it is clear that +<span class="pagenum"><a name="Page_200" id="Page_200">[200]</a></span> +the layman cannot expect to keep abreast +of the metallurgical advance. At the +same time, it is well for everybody to be +slightly conversant with the wonderful +advances being made in the reduction +and dressing of ores. Conspicuous in +this field are the improvements that have +been effected in cyanidation, electrolytic +amalgamation and extraction, and flotation. +These processes are applicable to +the lower grades of ore. Among the very +recent successes in the treatment of very +low-grade gold ores are the operations +conducted in the new mills of the Portland +Gold Mining Company, Stratton's +Independence, and the Ajax Gold Mining +Company, all in the Cripple Creek +District. All of these mills are now treating +old mine dumps, the contents of which +were considered as absolutely waste matter +at the time it was excavated. This +stuff is now ore and its treatment is making +fine profits. There is still a demand +for cheaper methods of reducing ores of +zinc. There are vast quantities of stuff +that contains very good percentages of +zinc, but the material cannot be mined +<span class="pagenum"><a name="Page_201" id="Page_201">[201]</a></span> +and treated at a profit under existing +conditions. With the invention of something +radically new in the metallurgy of +this metal, there will be opened an entirely +different aspect in the zinc-mining +regions. The Leadville District possesses +great reserves of this material that is +being held until it may become "ore."</p> + +<p class="center"><a name="illus19" id="illus19"><img src="images/illus19.jpg" alt="Florence Mine and Mill, Goldfield, Nevada." /></a></p> +<p class="caption">Florence Mine and Mill, Goldfield, Nevada.</p> + + +<p><span class="pagenum"><a name="Page_202" id="Page_202">[202]</a></span></p> + + + + +<h2><a name="chap22" id="chap22">XXII<br/>THE MEN OF THE FUTURE<br />IN MINING.</a></h2> + + +<p>The mining of the future will probably +be largely in the hands of young men. +To arrive at any conclusions concerning +the probabilities of success, therefore, we +are obliged to recognize the dual conditions. +In other words, there is to be +an interdependence between men and +mining. Up to this point in our discussion, +we have dwelt upon the probabilities +as viewed from the standpoints of natural +resources and of human capability. In a +certain degree, we have already covered +the ground of this present chapter; and +yet there are some points that must be +given special consideration.</p> + +<p>What is the true status of metal mining? +Alarmists would have us believe +that civilization is rapidly exhausting the +world's reserves of available metals. Conservative +investigation, however, repudiates +such notions. The best that can be +<span class="pagenum"><a name="Page_203" id="Page_203">[203]</a></span> +claimed for the reliability of such disconcerting +statements is that they may apply +in <i>some</i> districts, to <i>some</i> grades of <i>some</i> +kinds of desirable mineral matter.</p> + +<p>It may be true that the early miners +have removed the "cream" from Nature's +deposits in some districts, in the sense that +they have skimmed off, as it were, the rich +surface portions. But this does not signify +the exhaustion of deeper ore bodies, +nor does it mean that the pioneers were +the only capable prospectors.</p> + +<p>Why should we have any reason to +deny the ability of present or future +generations to find just as good mineral +deposits as did our predecessors? Persons +in some of the older of the western mining +states—as for instance, Colorado or California—are +apt to carry a misconception +along this line. They can see a number +of idle "camps" that are mere relics of +former thriving mining communities and +they are liable to jump to the conclusion +that the day of mining at such places is +past, forever. However, as we look at +the subject in a more rational light, we +shall see that there is no more authority +<span class="pagenum"><a name="Page_204" id="Page_204">[204]</a></span> +for such an assumption than there is for +one to the effect that a farm in the wintertime +is a worthless proposition simply +because, temporarily, it is not producing +its customary summer yield. Just as +Nature brings about changing conditions +for the farmer, so will economic forces +establish varying degrees of attractiveness +to the miner.</p> + +<p>It is unfair to judge one of the pioneer +mining districts by its activity at the +present time, if the productiveness happens +to be small. Let us look for the +reasons of the apparent decline. The +chances are that the inactivity will be +shown to be due, not to an exhaustion of +ore bodies, but to some needed changes in +mining or metallurgical methods. Very +likely, under a readjustment of our notions +about that particular district there +will appear to be as great latent possibilities +as ever cheered the earlier operators. +The prospects may appear to be even +better than this, and the future may +appear to extend greater opportunities +than were ever manifested in the past. +Investigation may disclose great bodies +<span class="pagenum"><a name="Page_205" id="Page_205">[205]</a></span> +of ore that could not be seriously considered +in the earlier working of the region. +In fact, speaking technically, the stuff in +question was not ore at the time of previous +operations, for it could not then be +made to yield a profit. And yet, by +introducing some changes in equipment +or methods of working or treatment, +there may be possibilities of making a +great deal of money from an abandoned +property; and the chances are good that +this same profit may be won at a much +more rapid rate than was ever before +possible and that therefore the economic +conditions are enhanced. For we must +not lose sight of the fact that the greatest +profits in mining usually accrue from the +most rapid exhaustion of the ore bodies.</p> + +<p>A mine, or even a whole district, may +have been deserted because of failure on +the part of original miners to recognize +the value of certain minerals. The recent +revival of activity that has been +noted in Leadville mining circles is but +an instance in point. In this district, +miners have given a delayed recognition +to some important minerals of zinc, and +<span class="pagenum"><a name="Page_206" id="Page_206">[206]</a></span> +the indications are that Leadville has +entered upon another of its eras of mining +activity.</p> + +<p>But, it is not necessary to restrict our +thoughts to the old mining regions, for +if we can observe how easy it has been to +overlook valuable deposits in a country +that has been subjected to severe mining +work, for years and years, what must we +conclude concerning the possibilities of +the many and vast undeveloped areas in +remote portions of the globe? It would +seem that there is indeed very small cause +for alarm about the exhaustion of the +earth's metals.</p> + +<p>No, it can be shown that mining, which +is one of the very fundamental industries +of the world and the one upon which every +other form of commercialism rests, will be +carried on with a continual increase in +magnitude just as long as man exists. As +the richer and more easily mined ore reserves +of Nature are exhausted, improved +and cheaper methods of mining, transportation, +and treatment will be introduced +and at a pace that will equalize +this exhaustion. We, of the present generation, +<span class="pagenum"><a name="Page_207" id="Page_207">[207]</a></span> +see the eminently successful +handling of copper ores of grades so low +that they were not given passing consideration +ten years ago. The outlook +would appear to be that the improvements +in methods and costs will not only +keep abreast of needs in such matters, but +the probabilities are that they will take a +very marked lead, with the result of a continually +increasing scope to the mining industry. +Let us then entertain optimistic +views about the <i>future of mining</i>.</p> + +<p>Now, as to the future of the young +man who engages in mining there is just +as much to be said as there is concerning +the career of a young man in any other +line of business. This word "business" is +used advisedly, for the day is past when +any person has a right to say that mining +is anything but strictly legitimate business.</p> + +<p>We look to the young men of the present +and future to correct all of the shortcomings +that have hindered the establishment +of mining upon its deserved plane +of stability in the minds of the general +public. Young blood will take a lead in +<span class="pagenum"><a name="Page_208" id="Page_208">[208]</a></span> +the dissemination of the correct thoughts +about mining.</p> + +<p>The successful man in mining will be, +as heretofore, the one with the right qualifications +in his make-up. Is a college +education an essential prerequisite to +success in mining? No, the writer is not +one to declare that young men cannot +succeed in the business without college +training. However, there can be no +avoidance of the proposition that the +chances of the college-trained man are +better than are those of the man who +has not had the benefits of such a career.</p> + +<p>A man may be said to engage in mining +in three different ways. Thus, he +may operate mining property; or he may +perform any of the manifold lines of +mining engineering; or he may be an +investor in mining property or mining +stocks.</p> + +<p>To prove a success when enrolled in +either of the first two classes, there is no +denying the advantages of technical, +mining education. The successful investor +likewise will do well to make a consistent +study of mining economics, and the +<span class="pagenum"><a name="Page_209" id="Page_209">[209]</a></span> +more attention he gives to the many +phases of approved modern mining, the +greater will be his ultimate achievement, +financially. Just as education along usual +school branches is of immeasurable benefit +to any man of business, so is it to +the mining man. And in just as great +ratio is the possession of innate business +ability.</p> + +<p>Education and natural ability are the +two elements that will count in the future +of any young man in mining.</p> + +<p>Space might be devoted to the discussion +of the possibilities of young men in +the field of research work along scientific +lines that would add materially to the +economy and scope of mining. Such a +career offers inducements looking to the +achievement of honor as well as fortune. +The field for such service is ready. +<span class="pagenum"><a name="Page_210" id="Page_210">[210]</a></span></p> + + + + +<h2><a name="chap23" id="chap23">XXIII<br/>MISCELLANEOUS CONSIDERATIONS.</a> +</h2> + + +<p>There are regions producing ores that +are too refractory for the simple treatments +that might be given by company +plants located at the mines. There are +districts that have many small gold and +silver mines with ores that do not yield +to simple milling processes and which +must therefore be shipped to custom +smelteries. Even were the ores amenable +to milling of some sort, it is often the +case that the mines are not of sufficient +magnitude to warrant the maintenance +of their own treatment plants.</p> + +<p>Under proper trade and commercial +conditions, there is no impropriety in +shipping ore to a custom plant or in selling +it outright to a company owning +such a plant. But, contemporaneously +with much of the mining in the West, +there has been such a monopoly on ore +treatment that great injustice has been +<span class="pagenum"><a name="Page_211" id="Page_211">[211]</a></span> +wrought to the shippers of small lots of +ore. Not only has this accusation been +true of smelting concerns but also of +milling companies. Once in a while representatives +of such corporations will +arise and attempt to refute these statements, +but the evidence is overwhelmingly +against them, and their arguments +of being benefactors of the miner +fall flat.</p> + +<p>By consolidation of companies and +the elimination of competition, arrogant +methods and unreasonable charges have +been put into force; and the managers of +mines have been obliged to accept whatever +rates the monopolists saw fit to +charge for treatment and whatever arbitrary +prices they cared to pay for the +metallic contents of the shipped ores. +Very gross extortion has been practised +and even yet there are many mining +camps which are so absolutely under the +control of these concerns that properties +which should pay well, under just and +favorable conditions, are forced to remain +idle. These conditions could not be expected +to prevail forever, and the time +<span class="pagenum"><a name="Page_212" id="Page_212">[212]</a></span> +is now at hand when the extortionate +smelting and milling trusts are meeting +with pronounced opposition and a greatly +diminished business. The state of Utah +has demonstrated the ability of ore producers +to bring the oppressors to time and +the mine owners of that state are in a +much more favored position right now +than are the miners of Colorado, for instance, +who really have been the greater +sufferers. The Utah mining men have +benefited by the sad experiences of the +miners of the sister state. In Colorado, +the American Smelting and Refining Co. +has been a domineering factor in the mining +industry for years, and the decrease of +mining in Colorado has been contemporaneous +with the oppression of this great +corporation. The real cheating that has +been practised by the ore-buying and +ore-treating companies is well understood +by all mining men who have been within +their clutches.</p> + +<p>It seems to be a fact that every tyrant +eventually proves his own undoing. In +the case of the oppressive smelter trust, +the greed resulted in an immense income +<span class="pagenum"><a name="Page_213" id="Page_213">[213]</a></span> +for the time being; but as mines were +obliged to close down because of the unjust +charges imposed for handling the +ores, the quantities of ore handled continued +to diminish. During the past few +years when mining has been so unusually +dull in many of the western mining +camps, it has been very difficult for the +smelting company to secure enough ore +to keep running, and the present outlook +is not encouraging. Statistics will show +that the production of the metals is not +really so low as the decrease in tonnages +would seem to indicate, and the discrepancy +is accounted for in the fact that very +many mining companies have installed +their own plants for either actually recovering +their metals or for reducing their +bulk of ores by concentration before shipping +to the custom treatment plants. +Thus the smelting company may still be +turning out a large amount of metallic +lead, for example, but it is smelted from +concentrates instead of from crude ore +and the tonnage, the principal basis for +estimating smelting charges, is very much +less than was formerly handled in obtaining +<span class="pagenum"><a name="Page_214" id="Page_214">[214]</a></span> +the same amount of the same sort of +product. The investigations started by +the oppressed ones in their efforts to evade +the oppressor have led to wonderful +results, and it is no longer necessary for +the miner to depend upon the smelter.</p> + +<p>Some similar sharp practice against +the mining fraternity was attempted and +for a short time successfully carried on by +what was termed, in Colorado, the milling +trust. This concern handled the ores +from Cripple Creek, principally. The +larger mining companies soon began the +erection of their individual plants and +the practice has been extending until it is +now common for Cripple Creek mines to +own and operate their own reduction +works, much on the order of the practice +in the Transvaal country.</p> + +<p>As a final word in this discussion, the +author wishes to reiterate his belief in +the legitimacy of investment in mines and +mining stocks. When mining is placed +upon sound business principles and every +detail of the work is carried on with strict +attention to sound economy, there can be +few failures. This means that business +<span class="pagenum"><a name="Page_215" id="Page_215">[215]</a></span> +judgment and expert advice must be used +from the very start—in other words, that +no false starts must be permitted. Then, +after getting under way in a worthy enterprise, +the successful mine operator +will exercise just as close scrutiny of +every operation, method, and employee +as do the men who conduct other successful +lines of business.</p> + +<p>This little work has been prepared +primarily for the perusal of men and +women who are not personally acquainted +with details of mining, but who entertain +notions of becoming financially interested. +It is hoped that the simple descriptions +of some of the elementary details will +prove of use to a great many persons.</p> + +<p><span class="pagenum"><a name="Page_216" id="Page_216">[216-19]</a></span></p> + +<p> </p> + + + + +<h2><a name="chap24" id="chap24"><span class="smcaps">Capitalization and Dividends of North American Metal Mines.</span></a> +</h2> + + +<p class="center">============================================================</p> + +<table style="margin-left: 10%; padding-right: 7%; font-size: 7pt" summary="Financial Statistics"> +<tr> +<td class="col1" style="text-decoration: underline">Company</td> +<td class="col7">|<br />|</td> +<td class="col2" style="text-decoration: underline">State or Country</td> +<td class="col7">|<br />|</td> +<td class="col3" style="text-decoration: underline">Metals Produced</td> +<td class="col7">|<br />|</td> +<td class="col4" style="text-decoration: underline">Capitalization</td> +<td class="col7">|<br />|</td> +<td class="col5a" style="text-decoration: underline">Par Value per Share</td> +<td class="col7">|<br />|</td> +<td class="col6a" style="text-decoration: underline">Dividends to Jan.1, 1912</td> +</tr> +<tr> +<td class="col1" > </td> +<td class="col7">|<br />|</td> +<td class="col2"> </td> +<td class="col7">|<br />|</td> +<td class="col3"> </td> +<td class="col7">|<br />|</td> +<td class="col4"> </td> +<td class="col7">|<br />|</td> +<td class="col5a"> </td> +<td class="col7">|<br />|</td> +<td class="col6a"> </td> +</tr> +<tr> +<td class="col1">Alaska-Mexican</td> +<td class="col7">|</td> +<td class="col2">Alaska</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">$1,000,000</td> +<td class="col7">|</td> +<td class="col5">$5</td> +<td class="col7">|</td> +<td class="col6">$2,634,381</td> +</tr> +<tr> +<td class="col1">Alaska-Treadwell</td> +<td class="col7">|</td> +<td class="col2">Alaska</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">5,000,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">11,385,000</td> +</tr> +<tr> +<td class="col1">Amalgamated</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">155,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">63,579,315</td> +</tr> +<tr> +<td class="col1">Anaconda</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">30,000,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">47,70,000</td> +</tr> +<tr> +<td class="col1">Arizona</td> +<td class="col7">|</td> +<td class="col2">Arizona</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">3,669,300</td> +<td class="col7">|</td> +<td class="col5">1.20</td> +<td class="col7">|</td> +<td class="col6">14,373,550</td> +</tr> +<tr> +<td class="col1">Baltic</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">6,050,000</td> +</tr> +<tr> +<td class="col1">Boston & Montana Cons.</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">3,750,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">62,425,000</td> +</tr> +<tr> +<td class="col1">Bullion-Bek & Champion</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">silver, gold</td> +<td class="col7">|</td> +<td class="col4">1,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">2,738,400</td> +</tr> +<tr> +<td class="col1">Bunker Hill & Sullivan</td> +<td class="col7">|</td> +<td class="col2">Idaho</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">12,211,350</td> +</tr> +<tr> +<td class="col1">Butte Coalition</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">15,000,000</td> +<td class="col7">|</td> +<td class="col5">15</td> +<td class="col7">|</td> +<td class="col6">2,450,000</td> +</tr> +<tr> +<td class="col1">Calumet & Arizona</td> +<td class="col7">|</td> +<td class="col2">Arizona</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">11,500,000</td> +</tr> +<tr> +<td class="col1">Calumet & Hecla</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">112,750,000</td> +</tr> +<tr> +<td class="col1">Camp Bird</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">5,387,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">6,541,960</td> +</tr> +<tr> +<td class="col1">Centennial-Eureka</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">5,000,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">2,700,000</td> +</tr> +<tr> +<td class="col1">Champion</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">5,700,000</td> +</tr> +<tr> +<td class="col1">Colorado</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">200,000</td> +<td class="col7">|</td> +<td class="col5">0.20</td> +<td class="col7">|</td> +<td class="col6">2,270,000</td> +</tr> +<tr> +<td class="col1">Copper Range Con.</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">40,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">10,751,180</td> +</tr> +<tr> +<td class="col1">Crown Reserve</td> +<td class="col7">|</td> +<td class="col2">Ontario</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">2,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">2,387,898</td> +</tr> +<tr> +<td class="col1">Daly</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">gold, lead, silver</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">20</td> +<td class="col7">|</td> +<td class="col6">2,925,000</td> +</tr> +<tr> +<td class="col1">Daly-West</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">gold, lead, silver</td> +<td class="col7">|</td> +<td class="col4">3,600,000</td> +<td class="col7">|</td> +<td class="col5">20</td> +<td class="col7">|</td> +<td class="col6">6,201,000</td> +</tr> +<tr> +<td class="col1">DeLamar</td> +<td class="col7">|</td> +<td class="col2">Idaho</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">400,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">2,737,520</td> +</tr> +<tr> +<td class="col1">Doe Run</td> +<td class="col7">|</td> +<td class="col2">Missouri</td> +<td class="col7">|</td> +<td class="col3">lead</td> +<td class="col7">|</td> +<td class="col4">10,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">2,448,478</td> +</tr> +<tr> +<td class="col1">Elkton Con.</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">2,666,959</td> +</tr> +<tr> +<td class="col1">El Oro</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">5,750,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">12,426,590</td> +</tr> +<tr> +<td class="col1">Federal</td> +<td class="col7">|</td> +<td class="col2">Idaho</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">30,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">8,300,000</td> +</tr> +<tr> +<td class="col1">Gemini-Keystone</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">500,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">2,000,000</td> +</tr> +<tr> +<td class="col1">Goldfield Con.</td> +<td class="col7">|</td> +<td class="col2">Nevada</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">50,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">11,027,812</td> +</tr> +<tr> +<td class="col1">Granby Con.</td> +<td class="col7">|<br />|</td> +<td class="col2">B. C.</td> +<td class="col7">|<br />|</td> +<td class="col3">copper, gold, silver</td> +<td class="col7">|<br />|</td> +<td class="col4">15,000,000</td> +<td class="col7">|<br />|</td> +<td class="col5">100</td> +<td class="col7">|<br />|</td> +<td class="col6">3,778,630</td> +</tr> +<tr> +<td class="col1">Greene Con.</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">10,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">6,137,800</td> +</tr> +<tr> +<td class="col1">Guggenheim Exploration</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">all metals</td> +<td class="col7">|</td> +<td class="col4">22,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">10,151,995</td> +</tr> +<tr> +<td class="col1">Hecla</td> +<td class="col7">|</td> +<td class="col2">Idaho</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">250,000</td> +<td class="col7">|</td> +<td class="col5">0.25</td> +<td class="col7">|</td> +<td class="col6">2,090,000</td> +</tr> +<tr> +<td class="col1">Hercules</td> +<td class="col7">|</td> +<td class="col2">Idaho</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">1,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">3,132,000</td> +</tr> +<tr> +<td class="col1">Homestake</td> +<td class="col7">|</td> +<td class="col2">S. Dakota</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">21,840,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">19,955,550</td> +</tr> +<tr> +<td class="col1">Hond. Rosario</td> +<td class="col7">|</td> +<td class="col2">C. A.</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">2,955,000</td> +</tr> +<tr> +<td class="col1">Horn Silver</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">10,000,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">5,642,000</td> +</tr> +<tr> +<td class="col1">Iron Silver</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">all metals</td> +<td class="col7">|</td> +<td class="col4">10,000,000</td> +<td class="col7">|</td> +<td class="col5">20</td> +<td class="col7">|</td> +<td class="col6">4,250,000</td> +</tr> +<tr> +<td class="col1">Kerr Lake</td> +<td class="col7">|</td> +<td class="col2">Ontarion</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">2,430,000</td> +</tr> +<tr> +<td class="col1">La Rose Con</td> +<td class="col7">|</td> +<td class="col2">Ontario</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">7,500,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">2,890,912</td> +</tr> +<tr> +<td class="col1">Mammoth</td> +<td class="col7">|<br />|</td> +<td class="col2">Utah</td> +<td class="col7">|<br />|</td> +<td class="col3">gold, silver, copper</td> +<td class="col7">|<br />|</td> +<td class="col4">10,000,000</td> +<td class="col7">|<br />|</td> +<td class="col5">25</td> +<td class="col7">|<br />|</td> +<td class="col6">2,220,000</td> +</tr> +<tr> +<td class="col1">Mohawk</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">2,150,000</td> +</tr> +<tr> +<td class="col1">Mountain</td> +<td class="col7">|</td> +<td class="col2">California</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">6,250,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">4,216,250</td> +</tr> +<tr> +<td class="col1">Naica</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">30,000</td> +<td class="col7">|</td> +<td class="col5">300</td> +<td class="col7">|</td> +<td class="col6">3,190,000</td> +</tr> +<tr> +<td class="col1">Nevada Con</td> +<td class="col7">|</td> +<td class="col2">Nevada</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">10,000,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">2,400,000</td> +</tr> +<tr> +<td class="col1">Nipissing</td> +<td class="col7">|</td> +<td class="col2">Ontario</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">6,000,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">5,490,000</td> +</tr> +<tr> +<td class="col1">North Butte</td> +<td class="col7">|<br />|</td> +<td class="col2">Montana</td> +<td class="col7">|<br />|</td> +<td class="col3">copper, gold, silver</td> +<td class="col7">|<br />|</td> +<td class="col4">9,000,000</td> +<td class="col7">|<br />|</td> +<td class="col5">15</td> +<td class="col7">|<br />|</td> +<td class="col6">9,040,000</td> +</tr> +<tr> +<td class="col1">North Star</td> +<td class="col7">|</td> +<td class="col2">California</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">2,786,988</td> +</tr> +<tr> +<td class="col1">Ontario</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">silver, lead</td> +<td class="col7">|</td> +<td class="col4">5,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">14,962,500</td> +</tr> +<tr> +<td class="col1">Osceola</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">8,958,650</td> +</tr> +<tr> +<td class="col1">Panuco</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">2,000,000</td> +<td class="col7">|</td> +<td class="col5"> </td> +<td class="col7">|</td> +<td class="col6">7,465,000</td> +</tr> +<tr> +<td class="col1">Parrot</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">2,300,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">6,991,138</td> +</tr> +<tr> +<td class="col1">Penoles</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">silver, gold</td> +<td class="col7">|</td> +<td class="col4">2,000,000</td> +<td class="col7">|</td> +<td class="col5">50</td> +<td class="col7">|</td> +<td class="col6">4,741,687</td> +</tr> +<tr> +<td class="col1">Phelps, Dodge & Co</td> +<td class="col7">|</td> +<td class="col2">U. S.</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">50,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">8,766,747</td> +</tr> +<tr> +<td class="col1">Plumas, Eureka</td> +<td class="col7">|</td> +<td class="col2">California</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">1,406,250</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">2,831,294</td> +</tr> +<tr> +<td class="col1">Portland</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">8,677,080</td> +</tr> +<tr> +<td class="col1">Quincy</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">3,750,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">19,330,000</td> +</tr> +<tr> +<td class="col1">Richmond</td> +<td class="col7">|</td> +<td class="col2">Nevada</td> +<td class="col7">|</td> +<td class="col3">gold, silver, lead</td> +<td class="col7">|</td> +<td class="col4">1,350,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">4,453,797</td> +</tr> +<tr> +<td class="col1">San Rafael</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">60,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">3,218,338</td> +</tr> +<tr> +<td class="col1">Sta. Gertrudis</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5"> </td> +<td class="col7">|</td> +<td class="col6">3,960,000</td> +</tr> +<tr> +<td class="col1">Sta. Maria del Paz</td> +<td class="col7">|</td> +<td class="col2">Mexico</td> +<td class="col7">|</td> +<td class="col3">gold,silver</td> +<td class="col7">|</td> +<td class="col4">120,000</td> +<td class="col7">|</td> +<td class="col5">12.50</td> +<td class="col7">|</td> +<td class="col6">5,568,000</td> +</tr> +<tr> +<td class="col1">St. Joseph</td> +<td class="col7">|</td> +<td class="col2">Missouri</td> +<td class="col7">|</td> +<td class="col3">lead</td> +<td class="col7">|</td> +<td class="col4">20,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">7,208,357</td> +</tr> +<tr> +<td class="col1">Silver King Coalition</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">silver</td> +<td class="col7">|</td> +<td class="col4">6,250,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">12,522,385</td> +</tr><tr> +<td class="col1">Smuggler</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">silver, lead, zinc</td> +<td class="col7">|</td> +<td class="col4">1,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">2,235,000</td> +</tr> +<tr> +<td class="col1">Standard Con</td> +<td class="col7">|</td> +<td class="col2">California</td> +<td class="col7">|</td> +<td class="col3">golod, silver</td> +<td class="col7">|</td> +<td class="col4">2,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">5,194,130</td> +</tr> +<tr> +<td class="col1">Stratton's Ind</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">5,500,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">5,028,568</td> +</tr> +<tr> +<td class="col1">Strong</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">1,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">2,275,000</td> +</tr> +<tr> +<td class="col1">Tamarack</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">9,420,000</td> +</tr> +<tr> +<td class="col1">Tennessee</td> +<td class="col7">|</td> +<td class="col2">Tennessee</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">5,000,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">2,056,250</td> +</tr> +<tr> +<td class="col1">Tomboy</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">2,561,000</td> +</tr> +<tr> +<td class="col1">Tonopah</td> +<td class="col7">|</td> +<td class="col2">Nevada</td> +<td class="col7">|</td> +<td class="col3">gold, silver</td> +<td class="col7">|</td> +<td class="col4">1,000,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">6,450,000</td> +</tr> +<tr> +<td class="col1">United</td> +<td class="col7">|</td> +<td class="col2">Montana</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">50,000,000</td> +<td class="col7">|</td> +<td class="col5">100</td> +<td class="col7">|</td> +<td class="col6">7,625,000</td> +</tr> +<tr> +<td class="col1">United Verde</td> +<td class="col7">|</td> +<td class="col2">Arizona</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">3,000,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">26,722,000</td> +</tr> +<tr> +<td class="col1">Utah Copper</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">15,268,000</td> +<td class="col7">|</td> +<td class="col5">10</td> +<td class="col7">|</td> +<td class="col6">5,629,785</td> +</tr> +<tr> +<td class="col1">Utah Con</td> +<td class="col7">|</td> +<td class="col2">Utah</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">5</td> +<td class="col7">|</td> +<td class="col6">6,900,000</td> +</tr> +<tr> +<td class="col1">Vindicator Con</td> +<td class="col7">|</td> +<td class="col2">Colorado</td> +<td class="col7">|</td> +<td class="col3">gold</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">1</td> +<td class="col7">|</td> +<td class="col6">2,227,500</td> +</tr> +<tr> +<td class="col1">Wolverine</td> +<td class="col7">|</td> +<td class="col2">Michigan</td> +<td class="col7">|</td> +<td class="col3">copper</td> +<td class="col7">|</td> +<td class="col4">1,500,000</td> +<td class="col7">|</td> +<td class="col5">25</td> +<td class="col7">|</td> +<td class="col6">6,300,000</td> +</tr> +</table> + +<p class="center">—————————————————————————————————</p> + + + + +<h2><a name="chap25" id="chap25">INDEX</a> +</h2> + + +<p><span class="pagenum"><a name="Page_221" id="Page_221">[221]</a></span></p> + +<p> Accidents, <a href="#Page_104">104</a><br /> + Adit, advantages of, <a href="#Page_97">97</a>, <a href="#Page_100">100</a>, <a href="#Page_101">101</a>, <a href="#Page_104">104</a><br /> + Adit, defined, <a href="#Page_95">95</a><br /> + Ajax mine, <a href="#Page_200">200</a><br /> + Alaska, <a href="#Page_8">8</a>, <a href="#Page_44">44</a>, <a href="#Page_67">67</a>, <a href="#Page_123">123</a><br /> + Amortization, <a href="#Page_151">151</a><br /> + Anaconda mine, <a href="#Page_44">44</a>, <a href="#Page_119">119</a><br /> + Arizona, <a href="#Page_77">77</a><br /> + Australia, <a href="#Page_26">26</a>, <a href="#Page_125">125</a><br /> + <br /> + Bancroft, Geo., <a href="#Page_160">160</a><br /> + Bankets, <a href="#Page_116">116</a><br /> + Bassick mine, <a href="#Page_112">112</a><br /> + Batea, <a href="#Page_64">64</a><br /> + Bingham Caņon Dist., <a href="#Page_73">73</a><br /> + Black Hills, <a href="#Page_33">33</a>, <a href="#Page_74">74</a><br /> + Blanket vein, <a href="#Page_111">111</a><br /> + Brazil placers, <a href="#Page_8">8</a>, <a href="#Page_67">67</a><br /> + Buried placers, <a href="#Page_61">61</a><br /> + Butte District, <a href="#Page_44">44</a>, <a href="#Page_183">183</a><br /> + <br /> + Cages, <a href="#Page_102">102</a><br /> + California mining, <a href="#Page_26">26</a>, <a href="#Page_31">31</a>, <a href="#Page_42">42</a>, <a href="#Page_61">61</a>, <a href="#Page_67">67</a><br /> + Camp Bird mine, <a href="#Page_33">33</a>, <a href="#Page_121">121</a><br /> + Canadian mining claims, <a href="#Page_54">54</a>, <a href="#Page_55">55</a><br /> + Capitalization, <a href="#Page_140">140</a>, <a href="#Page_216">216</a><br /> + Charleton, A. G., <a href="#Page_16">16</a><br /> + Chimneys, <a href="#Page_112">112</a><br /> + Churn drilling, <a href="#Page_65">65</a><br /> + Climatic influences, <a href="#Page_83">83</a><br /> + Coal mining, <a href="#Page_20">20</a>, <a href="#Page_23">23</a><br /> + Coal washing, <a href="#Page_17">17</a><br /> + Colorado Fuel & Iron Co., <a href="#Page_183">183</a><br /> + Colorado lode claims, <a href="#Page_52">52</a><br /> + Comstock lode, <a href="#Page_43">43</a>, <a href="#Page_91">91</a>, <a href="#Page_99">99</a><br /> + Concentration, <a href="#Page_13">13</a>, <a href="#Page_156">156</a><br /> + Consulting engineer, <a href="#Page_165">165</a><br /> + Copper mining, <a href="#Page_24">24</a>, <a href="#Page_43">43</a>, <a href="#Page_73">73</a><br /> + Copper, price of, <a href="#Page_175">175</a><br /> + Cornwall, <a href="#Page_25">25</a>, <a href="#Page_122">122</a><br /> + Cost of patenting claims, <a href="#Page_58">58</a><br /> + Cradle, <a href="#Page_64">64</a><br /> + Cripple Creek District, <a href="#Page_91">91</a>, <a href="#Page_109">109</a>, <a href="#Page_112">112</a>, <a href="#Page_125">125</a>, <a href="#Page_193">193</a>, <a href="#Page_196">196</a>, <a href="#Page_200">200</a>, <a href="#Page_214">214</a><br /> + Crosscuts, <a href="#Page_96">96</a><br /> + Custom treatment, <a href="#Page_210">210</a><br /> + <br /> + Dead work, <a href="#Page_79">79</a><br /> + Dikes, <a href="#Page_108">108</a><br /> + Directors' functions, <a href="#Page_163">163</a><br /> + Dividends of N. Amer. mines, <a href="#Page_216">216</a><br /> + Dry placers, <a href="#Page_71">71</a><br /> + <br /> + Egypt, <a href="#Page_22">22</a><br /> + Ely District, <a href="#Page_74">74</a><br /> + Esperanza mine, <a href="#Page_125">125</a><br /> + Examination of mines, <a href="#Page_130">130</a>, <a href="#Page_191">191</a><br /> + Exploitation, <a href="#Page_79">79</a>, <a href="#Page_166">166</a><br /> + Extralateral rights, <a href="#Page_53">53</a><br /> +<span class="pagenum"><a name="Page_222" id="Page_222">[222]</a></span> + <br /> + Failures in mining, <a href="#Page_190">190</a><br /> + <br /> + Gash veins, <a href="#Page_111">111</a><br /> + Gangue, <a href="#Page_118">118</a><br /> + Giants, <a href="#Page_68">68</a><br /> + Gold, price of, <a href="#Page_170">170</a><br /> + Gold production, <a href="#Page_30">30</a> to <a href="#Page_38">38</a><br /> + Golden Fleece, explained, <a href="#Page_24">24</a><br /> + Grab samples, <a href="#Page_167">167</a><br /> + Greece, mining in, <a href="#Page_25">25</a>, <a href="#Page_122">122</a><br /> + <br /> + High-grading, <a href="#Page_126">126</a>, <a href="#Page_195">195</a><br /> + Homestake mine, <a href="#Page_33">33</a>, <a href="#Page_123">123</a><br /> + Hoover, H. C., <a href="#Page_162">162</a><br /> + Hydraulicking, <a href="#Page_68">68</a>, <a href="#Page_70">70</a><br /> + <br /> + Inclines, <a href="#Page_95">95</a>, <a href="#Page_100">100</a><br /> + Incorporation, <a href="#Page_140">140</a><br /> + Iron ore prices, <a href="#Page_176">176</a><br /> + <br /> + Joplin District, <a href="#Page_13">13</a>, <a href="#Page_91">91</a><br /> + <br /> + Kansas coal mining, <a href="#Page_5">5</a><br /> + Kemp, Jas. F., <a href="#Page_18">18</a><br /> + Kentucky lead mining, <a href="#Page_8">8</a>, <a href="#Page_85">85</a><br /> + Keweenaw Peninsula, <a href="#Page_116">116</a><br /> + Kimberly diamond mines, <a href="#Page_43">43</a>, <a href="#Page_112">112</a>, <a href="#Page_127">127</a><br /> + <br /> + Labor considerations, <a href="#Page_84">84</a>, <a href="#Page_85">85</a><br /> + Lead, prices of, <a href="#Page_178">178</a><br /> + Leadville, <a href="#Page_44">44</a>, <a href="#Page_114">114</a>, <a href="#Page_150">150</a>, <a href="#Page_201">201</a>, <a href="#Page_205">205</a><br /> + Leasing, <a href="#Page_195">195</a><br /> + Leonard, P. A., <a href="#Page_186">186</a><br /> + Life of a mine, <a href="#Page_92">92</a>, <a href="#Page_150">150</a><br /> + Lode defined, <a href="#Page_51">51</a>, <a href="#Page_109">109</a>, <a href="#Page_110">110</a><br /> + Long tom, <a href="#Page_65">65</a><br /> + Low-grade mining, <a href="#Page_122">122</a>, <a href="#Page_200">200</a><br /> + <br /> + Machinery, <a href="#Page_89">89</a>, <a href="#Page_154">154</a><br /> + Management, <a href="#Page_162">162</a><br /> + Mass, defined, <a href="#Page_113">113</a><br /> + Metallurgy, <a href="#Page_14">14</a><br /> + Mexico, <a href="#Page_34">34</a>, <a href="#Page_43">43</a>, <a href="#Page_125">125</a><br /> + Mexican mining claims, <a href="#Page_55">55</a><br /> + Milling, <a href="#Page_14">14</a><br /> + Mine accounts, <a href="#Page_179">179</a><br /> + Mine, definition of, <a href="#Page_4">4</a>, <a href="#Page_8">8</a>, <a href="#Page_20">20</a><br /> + Mine promotion, <a href="#Page_134">134</a>, <a href="#Page_139">139</a>, <a href="#Page_146">146</a>, <a href="#Page_186">186</a><br /> + Mine reports, <a href="#Page_168">168</a><br /> + Miner's licenses and certificates, <a href="#Page_55">55</a><br /> + Miner's pan, <a href="#Page_64">64</a><br /> + Mine sampling, <a href="#Page_130">130</a>, <a href="#Page_167">167</a><br /> + Mine timbers, <a href="#Page_188">188</a><br /> + Mining, defined, <a href="#Page_20">20</a>, <a href="#Page_80">80</a><br /> + Mining engineer's functions, <a href="#Page_164">164</a>, <a href="#Page_191">191</a><br /> + Mining plants, <a href="#Page_105">105</a>, <a href="#Page_154">154</a>, <a href="#Page_155">155</a>, <a href="#Page_157">157</a>, <a href="#Page_160">160</a><br /> + Minnesota iron ranges, <a href="#Page_6">6</a>, <a href="#Page_42">42</a>, <a href="#Page_72">72</a>, <a href="#Page_127">127</a><br /> + Monitors, <a href="#Page_68">68</a><br /> + Mount Morgan mine, <a href="#Page_6">6</a>, <a href="#Page_73">73</a><br /> + <br /> + Nevada Cons. Copper Co., <a href="#Page_6">6</a>, <a href="#Page_74">74</a><br /> + New Zealand, <a href="#Page_61">61</a><br /> + Nickel mining, <a href="#Page_34">34</a>, <a href="#Page_43">43</a><br /> + Nickel, price of, <a href="#Page_174">174</a><br /> + <br /> + Ore defined, <a href="#Page_18">18</a>, <a href="#Page_19">19</a><br /> + Ore deposition, <a href="#Page_117">117</a><br /> + Ore dressing, <a href="#Page_14">14</a>, <a href="#Page_16">16</a><br /> +<span class="pagenum"><a name="Page_223" id="Page_223">[223]</a></span> + Ore in sight, <a href="#Page_131">131</a><br /> + Ore reserves, <a href="#Page_131">131</a><br /> + Oroya-Brownhill mine, <a href="#Page_125">125</a><br /> + Open pit mining, <a href="#Page_72">72</a><br /> + Ophir, location, <a href="#Page_24">24</a><br /> + <br /> + <i>Pertinencia</i>, <a href="#Page_56">56</a><br /> + Placer dredging, <a href="#Page_66">66</a>, <a href="#Page_153">153</a><br /> + Placer defined, <a href="#Page_60">60</a><br /> + Placering, <a href="#Page_14">14</a><br /> + Platinum mining, <a href="#Page_33">33</a><br /> + Platinum, price of, <a href="#Page_172">172</a><br /> + Political considerations, <a href="#Page_87">87</a><br /> + Porphyry mines, <a href="#Page_76">76</a><br /> + Portland mine, <a href="#Page_182">182</a>, <a href="#Page_200">200</a><br /> + Prospecting, <a href="#Page_39">39</a><br /> + Prospects, <a href="#Page_148">148</a><br /> + Prospect drilling, <a href="#Page_65">65</a><br /> + Prospectuses, <a href="#Page_186">186</a>, <a href="#Page_188">188</a><br /> + <br /> + Quicksilver mining, <a href="#Page_43">43</a><br /> + Quicksilver, price of, <a href="#Page_178">178</a><br /> + <br /> + Reddington mine, <a href="#Page_43">43</a><br /> + Reddington, P. G., <a href="#Page_198">198</a><br /> + Reefs, <a href="#Page_116">116</a><br /> + Richard, R. H., <a href="#Page_15">15</a><br /> + Rickard, T. A., <a href="#Page_127">127</a><br /> + Riffles, <a href="#Page_68">68</a><br /> + Robinson mine, <a href="#Page_128">128</a><br /> + Rocker, <a href="#Page_64">64</a><br /> + Roosevelt tunnel, <a href="#Page_196">196</a><br /> + <br /> + San Juan Region, <a href="#Page_33">33</a>, <a href="#Page_99">99</a>, <a href="#Page_153">153</a><br /> + Secondary enrichment, <a href="#Page_119">119</a><br /> + Secrecy in operations, <a href="#Page_183">183</a><br /> + Shafts, <a href="#Page_94">94</a>, <a href="#Page_98">98</a>, <a href="#Page_100">100</a><br /> + Silver, price of, <a href="#Page_172">172</a><br /> + Silver production, <a href="#Page_136">36</a><br /> + Skips, <a href="#Page_102">102</a><br /> + Slope, defined, <a href="#Page_95">95</a><br /> + Sluices, <a href="#Page_68">68</a>, <a href="#Page_69">69</a><br /> + Sorting, <a href="#Page_14">14</a><br /> + South Africa, <a href="#Page_24">24</a>, <a href="#Page_33">33</a>, <a href="#Page_35">35</a>, <a href="#Page_128">128</a>, <a href="#Page_149">149</a><br /> + Spain, <a href="#Page_122">122</a><br /> + Spurr, J. E., <a href="#Page_120">120</a><br /> + Steam shovelling, <a href="#Page_7">7</a>, <a href="#Page_72">72</a><br /> + Stock, defined, <a href="#Page_112">112</a><br /> + Stratton's Independence mine, <a href="#Page_194">194</a>, <a href="#Page_200">200</a><br /> + Stripping, <a href="#Page_75">75</a><br /> + Sudbury district, <a href="#Page_43">43</a><br /> + Supplies, mine, <a href="#Page_87">87</a>, <a href="#Page_88">88</a><br /> + Surveyor-General offices, <a href="#Page_58">58</a><br /> + Sutro tunnel, <a href="#Page_99">99</a><br /> + <br /> + Tin, price of, <a href="#Page_173">173</a><br /> + Title to property, <a href="#Page_81">81</a><br /> + Tonopah district, <a href="#Page_13">13</a>, <a href="#Page_150">150</a><br /> + Topographical considerations, <a href="#Page_82">82</a>, <a href="#Page_99">99</a><br /> + Transportation considerations, <a href="#Page_82">82</a>, <a href="#Page_194">194</a><br /> + Transvaal, <a href="#Page_13">13</a>, <a href="#Page_91">91</a><br /> + Treadwell mine, <a href="#Page_44">44</a>, <a href="#Page_123">123</a><br /> + Treasury stock, <a href="#Page_144">144</a><br /> + Treatment monopolies, <a href="#Page_210">210</a>, <a href="#Page_214">214</a><br /> + Tungsten, price of, <a href="#Page_174">174</a><br /> + Tunnel, defined, <a href="#Page_94">94</a><br /> + <br /> + Unionism, <a href="#Page_85">85</a><br /> + United Verde mine, <a href="#Page_182">182</a><br /> +<span class="pagenum"><a name="Page_224" id="Page_224">[224]</a></span> + U. S. Bureau of Mines, <a href="#Page_28">28</a><br /> + U. S. coal claims, <a href="#Page_47">47</a>, <a href="#Page_48">48</a><br /> + U. S. Forestry service, <a href="#Page_197">197</a><br /> + U. S. lode claims, <a href="#Page_46">46</a>, <a href="#Page_51">51</a><br /> + U. S. mineral output, <a href="#Page_32">32</a> to <a href="#Page_37">37</a><br /> + U. S. mineral surveyors, <a href="#Page_56">56</a>, <a href="#Page_58">58</a><br /> + U. S. placer claims, <a href="#Page_49">49</a><br /> + U. S. Postal Dept., <a href="#Page_138">138</a>, <a href="#Page_189">189</a><br /> + Utah Copper Co., <a href="#Page_6">6</a>, <a href="#Page_73">73</a><br /> + <br /> + Van Hise, C. R., <a href="#Page_115">115</a><br /> + Vein, defined, <a href="#Page_107">107</a><br /> + <br /> + Wallace, J. P., <a href="#Page_150">150</a><br /> + Wallaroo mine, <a href="#Page_43">43</a><br /> + Wasp No. 2 mine, <a href="#Page_74">74</a><br /> + Wildcatting, <a href="#Page_137">137</a>, <a href="#Page_193">193</a><br /> + Williams, Percy, <a href="#Page_191">191</a><br /> + <br /> + Zinc, price of, <a href="#Page_177">177</a><br /> +</p> + + + + + + + + +<pre> + + + + + +End of Project Gutenberg's The Business of Mining, by Arthur J. 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