University of Nevada, Las Vegas

Forward Mining Development Company Prospectus page 10

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put is due to the numerous discoveries of late years in different parts of the globe of new fields, particularly placers. Unquestionably, the output of these add greatly to the world's store; but one must look for the source of not the least substantial increase—to the wonderful strides made in the applied sciences and to the improved and more business-like management and conduct of quartz-mining operations."The New York "Herald," in a recent issue, said:"It is undeniable that the most influential men in the business world have turned their attention to mining, the source of nearly all wealth, and those persons who have been enslaved to the idea that the only safe proposition was a 5 per cent, or 6 per cent, security, now realize that many millions of interest have been lost to them through heeding the advice of those who are interested in cheap money; and, further, the richest men in the world are mining kings, many of whom have grown powerful through the proper application of originally a moderate capital, and it is proven that while millions of dollars have been lost in railroads, farm mortgages, Eastern industrials, and building associations, the American mining industry has steadily advanced, making enormous profits for its supporters, building great states and cities, and pointing with pride to the American possessions of 253 mines that have paid in dividends over $625,000,000."Quoting from "The New York Engineering and Mining Journal" of Jan. 5, 1905, we have a grand total of dividends paid by public mining companies in 1904 of $46,692,000, which, compared with $31,470,000 paid during 1903, shows an increase of 48 per cent. The copper mines should be credited with a large share of this increase, as 17 declared $26,161,000, which compares with $15,989,000 paid by the same number in 1903. The gold, silver and lead companies, 77 in number, declared dividends of $19,106,000, which is $4,394,000 more than 1903. The largest dividend-paying mine is the Silver King of Utah, which declares monthly $100,000 and an extra of the same amount in December, on a share-capital of $3,-000,000. In addition to the above dividends, Americans shared in the payments of $2,219,000 made by seven Mexican companies; $338,000 by two in Central America, and $456,000 by two in Canada.There were many more millions paid to individuals and close corporations, of which we can get no record, and hence the above figures are by no means complete; to the lay reader they quite suffice to acquaint one with the possibilities of the industry, and the desirability of mining stocks as an investment.Reverting to such items as the following, taken from the Denver, Colo., "Mining Record," it is easy to understand why mining is receiving such widespread attention:"Goldfield, Nev., Jan. 7, 1905. —The Combination Mines Company has paid its third dividend, being for $32,000, or 10 per cent. on stock outstanding. It has been ascertained that the company intends to pay this dividend regularly every month, instead of quarterly, as heretofore stated. It is not only able to do this, but, as a matter of fact, it has been placing an equal amount for the past two months into a reserve fund, and will con-10

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