Mr. Haussermann's contention was. that sound business principles were being ignored by speculators who were merely buying for an immediate rise of a point or two and did not expect to hold their stock. The process was repeated until the price reached a point entirely out of line with the production possibility of the mine and the market was in danger of becoming top heavy. Ore reserves, mill performance, dividend prospects, important points for the consideration of the genuine investor, were entirely ignored. The purchase of gold-mining shares for dividend Fequirements has to be conducted with due regard to the possibility of recovering the price paid before profit on the investment can be expected, for a mine is an asset which wastes away a3 the ore is extracted. When all the ore is extracted, nothing remains but a hole
Text read from the printed page and cleaned; old type leaves the occasional error.