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Page: of 90
to a depth that will guarantee profitable ore, do not attempt an investment. There is no profit at the half-way
point, and you are no better off at that point than you
were when you started. Ascertain what it will cost you to
drive your tunnel so many feet to reach a vein that shows
upon the surface of the property. If you are sinking a
shaft you can depend upon the need for capital to sink
it at least 200 feet, and then you must realize that hoisting from that distance will demand an additional expenditure in the way of machinery. Apply the same business
methods you would apply in any other business. Where
this is the rule success is the rule—where the opposite is
the rule failure is the result. Never invest your capital
until you have satisfied yourself in regard to all these
conditions.
MANAGEMEN’I'—Before you place your capital
to the credit of a mine or a mining corporation ascertain
who is the manager of the property, whether he is familiar
with mining or not, what his success has been in the past
and all these factors that contribute so strongly to the success or failure of the proposition. Bear in mind that you
would not employ a farmer to conduct a mine any quicker
than you would employ a miner to conduct a farm. Take
it right home to your neighborhood. If you reside in or
near an agricultural section you will find two farms adjoining—the one prosperous and productive, the other devastated, grown up to weeds and in every sense unproductive. Both farms have been blessed with the same fertile soil, but the one is well managed—the other illy managed. I can show you the same results in mining. I can
show you where two properties are on the same vein.
One of them is successful and productive. ‘The other
bankrupt. Management is the key to the situation. Perhaps even more cash has been expended upon the unproductive one than upon the one which is uncovering her
Al