Download or read book Sixth Report of the Bureau of Mines, 1896 (Classic Reprint) written by Ontario Department of Mines and published by Forgotten Books. This book was released on 2018-02-16 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Sixth Report of the Bureau of Mines, 1896 The total amount of authorized capital is and all excepting five or six of the twenty-two companies incorporated have been organized to carry on operations in the gold fields of the Province - prospecting, developing and mining. Besides these, there are companies formed under the Imperial Joint Stock Companies Acts, one or two of which brought in large sums of money to spend in opening mines and the erection of works to treat ores. Agreement With an Eng lish syndicate to explore under license of occupation. Many people of small means have been led to invest their savings, and, towards the end of the year, there was a rush for shares in all kinds of mining companies in and out of the Province, some of which were of more than doubtful substantiality. Fortunately the excitement did not reach a serious stage, and, under the new statute of the Legislature for the regulation of extra-provincial companies, the promoters of wild-cat schemes will find that before stocks are sold in the money markets here some better assurance of their worth must be given than a gilded advertisement in a newspaper. Mining stocks may be as safe as stocks of any other kind, yet experience everywhere shows that there is a temptation to exaggerate their value, and that gold stocks especially have a glamour to draw the unwary. It is not the wealthy classes in England as a rule that buy mining shares, and those who have suffered most severely from the drop in South African stocks are ones who could least afford it. There is great need of capital in this country to build up mining but the earnings of one industry should not be squandered in another, and prudent measures of legislation skilfully administered may give valuable service in even so delicate a matter as' the investment of capital, especially when the business is in a far-off field and carried on under other laws than our own. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.