The Rich Hill Tribune

War on Bogus Mining Companies.

The Massachusetts legislature is waging a war on the mining sharks doing business in that state. There is no question but that some degree of protection should be afforded the public against the floating of wild cat mining schemes and the trapping of people into making investments in the same.

While it is true that the investor should use due caution about placing his money in such elusive properties as many of these alleged mining companies offer, it is equally true that the state should insist that the chance of swindling in this way should be reduced to a minimum.

Mining properties are always something of a gamble under the best conditions. The mine itself may not pan out according to expectations, and there is possible mismanagement and squandering of assets to be considered. These are contingencies with which the state cannot deal and in which the investor must take his chances. The state can insist, however, that there is a mining property and not an imaginary affair only existing on paper. Here is where the state can exercise a wise protective policy and make this an unprofitable field for mining sharks.