ROSSLAND EVENING RECORD, DECEMBER 7, 1899. THE ROSSLAND RECORD. WILLIAM K, ESLING. THe OLpEsT DAILY IN THE INTERIOR. PUBLISHED DAILY BXOHPT SUNDAY. OFFICE: BASEMENT PosTOFFICE BLOCK. TEL: 98. P.O. BOX 535. BULSCRIPTION RAT! Daily, per month Daus! batt year b Daily, per year Daily, per ye x Subscriptions invariably in advance, ‘Advertising rates will be made known upon application. ‘The Recorp reaches the ptople. agp Old Saint. Nicholas. of Course THURSDAY, DECEMBER 7, 1899. TO ADVERTISERS. New reading matter makes your advertisement attractive. We will gladly change your “tad” every issue if copy is presented before 10 a. m. _— Haven't space now totell you of the won- derful variety of Chratmas goods. Come in and Look Around. H. S. WALLACE, IMPERIAL UNITY. It is not many years ago that im- perial federation was regarded as the impossible chimera of a few en- thusiastic dreamers, yet every year sees some step towards its realiza- tion, A great step was made when representatives of Canada were ap- pointed by the imperial government totake part in negotiations with the United States which directly af- fected Canadian interests. Another step was made when Australia was allowed to build and maintain ves- sels for the defense of her own coast. Yet another step was made when the colonial contingents aided imperial troops in the Soudan war and a still further step ‘has been made by the participation of colon- jal troops in the hostilities. in South Africa, A still mare decisive step has been taken recently, according to London dispatches of New York papers. This is that, before con- cluding the Samoan agreement with the United States and Germany, Lord Salisbury communicated its general terms to each government in Australia and New Zealand’ and. obtained their assent to it. . This action practically places each of the self-governing colonies on the footing of a junior partner with the mother country and is a decisive advance towards a recogni- tiorof their right to a part in all imperial negotiations directly affect- ing their particular interests... From |. this to a direct, continuous part in the government of the whole em- pire is not a long stride. Time will work out this change in detail, but that it is coming 1s an evident sigan of the times. The splendid isola- tion of the British empire from the powers of continental Europe. and the open or veiled hostility of some of these powers has done much to- wards drawing closer the bonds which unite the widely separated parts of that empire. The ‘con- sciousness of this condition on the part of the colonies has caused them to hasten to the aid of the mother country when she became engaged in a struggle for supremacy in South Africa. This course was in- spired, not so much by the need of help as by a desire to give to the world a practical demonstration that the empire is united, and that an attack on one of its parts will be re- pelled by all. To preserve and strengthen this union will be the future task of British statesmen. Their aim will be to gradually draw closer the bands so that each part shall feel the added strength there- by given, without drawing them so tight as to chafe any one of- the members, or to cramp its free movement within its own’ sphere. CAUSES OF FAILURE. The manner in which good min- ing properties have proved failures through bad management is thus explained by the Denver Mining Reporter: : First, too high a valuation upon _the property used as a basis of the proposition, or rather too large an amount of stock issued in payment for the property, leaving so little stock in the treasury that its sale will not provide sufficient money to develop the claim into a mine. The amount of stock issued in payment for 9 miaing claim should not be more than the actual cash . Wall Paper, Fane: Goods, ‘Musical ‘Goods, Tove, Notions, Nearly opposite postoffice Rossiand and Grand Forks, B.C. value of the claim at the price at which stock is to be put upon the market. > If the mining claim is worth Sro,- ooo'and the company. is. capitalized at $1,000,000, and it is proposed to. market the treasury. stock: at § cents, the promoter should take 200,000 shares: of stock. ‘and put 800,000 in the treasury; any amount above this to which the promoter is entitled on account of services should be paid from the sale of treasury stock, and the promoter, as the representative of the com- pany, should deal with himself as if he werea stranger. In the ex- ample just given it is proposed to sell the treasury. stock at 5 cents per share: if all of the stock were sold at that price the proceeds would amount to $50,000. | A’ com- pany then with a stock worth $50,- ooo takes $10,000 of its stock, or 200,000 shares, and with it buys a mine worth $10,000, Thus far the promoter has not parted with any property, as his 200,000 shares of stock absolutely control the prop- erty as long as the balance of the stock remains in the treasury. Only as stock is sold from the treasury do others, as stockholders, acquire the right to be heard in -| control of the property. When 200,000 shares..of treasury stock have been sold the other stock- holders are on equal terms with the promoter. Why should they not be? Iri every respect, except per- EDITORIAL NOTES. Republic wants a railroad and gives Jim Hill notice that, if he will, The stockholders of the Lone Pine and Surprise in Republic have bought 100,000 shares at: 20¢ to raise money to buy a- compressor and sink a main shaft. The are the right kind of promoters. Spokane is to go dry from mid- night to 5:30 a. m., SO says ithe city council. Can it quench its thirst in only 1834 hours a day? The story goes that, in considera- .| tion of his active support during the next campaign, Theodore Rovse- velt has been promised President McKinley’s support for the presi- dential nomination in 1904. W. J. Bryan is said to favor the does not build one, somebody’ else |’ W. H. FALDING, Accountant, Insurance and Mining Agent and Auctioneer. Manag ‘r Rossland: Opera House. AGENT: The Canada Accident Assurance Co., (Aceldent, L'ablility and Pinte Glass.) Plumbing Shop. Spokane Bt., opp. Burns’ market. —— : Clay Pipe and Fittings for Chimneys. ————— Specialty. Telephone 27 . P. O. Box 271. °° i of Ex. nor Hogg of Texas for second ‘place on the democratic ticket with himself, The European powers are’ said to have answered the ‘request’ of the United States for the open door in China by asking if the door will be kept open in the Phillippines. _ ROSSLAND il Electric | aundry — THE, Gity Bakery, XMAS CAKE, made now. Se ,Order no “your Xmas dinner. all made of best mate: “right. Everything as Gheap as you mane nea oer to Be ‘done. Patronize those who spend their money at home with you, and thereby help your own and your city’s interests.... sees 4 ~~ White Labor and Clean : qeWork=2 - —- THE— Fortin Feed COMPANY Hay, GRAIN AND.FEED. 120.E, Columbia Ave. Rossiand, B. Le Roi Livery, Feed & Sale Stables. JOHN F. LINDBURG .... «PROPRIETOR a Heavy Transferring: H First-class Saddle & Pack Horses. STABLES: __ Co! sal Alley, Phone No. 89. ‘sonal liability, the khold should be partners in .proportion to their contribution to the corporate fund. , The usual plan, and the plan which leads to so many disasters, is for the promoter to contribute a mining claim worth. $10,000 or less and take from 600,000. to 800,000 P. 0. Box 16. A. G. Creelman. P. 0. Box 815. ~CREELMAN & BEAM. CONTRACTORS & ~ BUILDERS. George Beam shares of stock, the equivalent from $35,000 to $40,000. } Co Now he attempts to sell treasury stock in order to raise money to de- velop the property. The shrewd investor quickly discovers that the sale of the whole 200,000 shares in the treasury will produce’ but $10,- ooo, out of which must come com- missions, apd that the balance, if honestly ‘spent, ‘is barely enough, possibly not enough, to do the re- quired work to make this prospect amine. “Then again he concludes that the promoter who had shown .| himself dishonest enough to. sell: a $10,000 prospect to his own , pros- pective partners for. $40,000 is hardly a safe man to trust to spend the proceeds of, the sale of the treasury stock and he invests_ else- where. This stock ‘must be sold, if at all, to the inexperienced or misinformed. A value of $40,000 must be lied into the prospect. The promoter, no matter what _his original intention, must so deceive in order to induée co-operation. Instead of representing the actual merits of the property, he must now put into ita fictitious value. This he usually does by assays of picked specimens or eby its alleged prox- imity to some well-known producer, No matter what deception is practised nothing but a miracle can save a proposition thus robbed at its inception, _ Going to the depot? Phone 6 Montana stables, for a gurney. on sil hinds of work, Jobbing promptly attended to Office and shop: Commercial cou: Tear Alhanibra botel. Sourty ROSSLAND, B.C, A New Claim o+++THE.... MANOR (Formerly “-Highland.") R. A GROVES. One of the Leading-Bats of the city. Spokane Street, uext to ‘TZ ootenay.. Hotel—-egy | vox, . First-Class Business Lunch 35 Cents. Oysters in any style, 2 Specialty. Game in Season. si nex. Private Boxes for Fatti-".’ ilies and Parties. Miss K, Swanson, ....-+-+-+++ Proprietress. Butte Hotel. Columbia Ave., west. | Headquarters for Miners. ———— 1 Bar stocked with Choicest . Liquors and Cigars. —_———— Thomas Shanks, - - ~ - Propriétor® peeve SNEV Sun Life Assurance Co., of Canada. |- Sanitary Plumbing as erveus> i T pd a a :: STORE!