MINING COMPANIES.

Otago Witness, Issue 2400, 1 March 1900, Page 20

MINING COMPANIES.

TO THE EDITOR. Sir,—The last sentence of the article on mining companies in Saturday's issue reads as. follows:—" Xn the, meantime brokers should restrain vendors from xDresaing further properties on the market." This suggestion must -have amused • all_-old- mining speculators who have passed through booms —aye, "even a dredging boom. Doubtless many of the old sharebrokers, after reaping a golden harvest, •would gladly see a stop to the flotation of new cerripanies, but pray, what would become of the ciop of new brokers eager to taste blood? Are u they in the least likely to listen, to editorial iwords'i'of caution? Verily, no.. So long as ?aar:insatiable public demands, and is eager to j'swallow,':-new.-ventures—good; bad, and indifTfirentrfan'd to rush nearly, all shares up to a

J high premium, so long will claims be placed on thd market. At present any ground in the watershed of the Molyneux is eagerly competed for, and all difficulties standing in the way of profitable working, assuming ordinary payable gold in the ground, are ignored. Elevation, caitage, fuel, repairs, are never taken into account, and, as for prospecting, time enough to attend to that small detail after the company is floated —shareholders are the proper people to bear cost of in'ospecting, not prometers and vendors. In 12 months or less there will be 'some sore hearts and empty purses, but meantime it is little use preaching: the fever is on, and it must urn its course. The public need not be the least afraid that the supply of claims will run out. So long as the demand continues, means will be devised to satisfy it, and eveiy claim offered will be described as equal to or superior to any other. —l am, etc., Old Speculator.