Editorial

Title

Editorial

Language

English

Source

The Marsman Magazine Volume ll (No. 5) November 1937

Year

1937

Rights

In Copyright - Educational Use Permitted

Fulltext

EDITORIAL The securities and exchange commission is doing excellent work in protecting the public against unscrupulous mining promoters; its recent expose of a most flagrant case of phoney promotion is evidence of that. In this work the ~ommission will receive the heartiest conperation of every legitimate mining company, for those who are engaged in developing the mineral resources of the Philippines are more than anxious that the dishonest parasites who have attached themselves to the industry be eliminated. There is a danger, however, that the commission, in its zeal to protect both the government and the public, may unwittingly hinder the progress of the legitimate operators. There is no intent, of course, on the part of the commission to interfere with the mining operators who are producing some P4,500,000 in gold every month and who are adding immeasurably to the wealth of the country. An investigation has been started recently into mine management contracts. The object of this investigation has been to determine whether or not such contracts were legal. It is the contention of the commission that a company formed for the purpose of working a definite group of claims should not be allowed, after proving the claims worth(Please turn to page 24) Table Of Contents PagB Monthly Production . . . . . . . . . . . . . . . . . 1 Itogon Mining Company . . . . . . . . . . . . . 1 Suyoc Consolidated Mining Company . . 1 United Paracale Mining Company . . . . . 2 San Mauricio Mining Company . . . . . . . 2 Union Mines, Inc. . . . . . . . . . . . . . . . . . . . 2 Diamond Drilling . . . . . . . . . . . . . . . . . . 4 G. A. V•an 8'teenbergen . . . . . . . . . . . . . . 6 Gumaos Goldfields, Inc. . . . . . . . . . . . . . 7 Marsman Hongkong China Ltd. . . . . . . . 7 Acoje Mining Company . . . . . . . . . . . . . . 8 Palidan Suyoc Deep L~·vel Tunnel Company . . . . . . . . . . . . . . . . . . . . . . . . 8 Paracale National Gold Mining Company. 8 San Mauricio History by H. L. Barr . . J 0 Power-Allen Diesels in the P. I. .... 1~-13 Forster-Hunter . . . . . . . . . . . . . . . . . . . . . . . 18 Doornbosch Leaves . . . . . . . . . . . . . . . . . . . . 18 Burgess Baby . . . . . . . . . . . . . . . . . . . . . . . . 18 Patco Completes 4 Years . . . . . . . . . . . . . . 18 Itogon Mining Company Staff List . . . 19 Let's ·Get Acquainted J. E. Atkin~son G. H. Evans . . . . . . . . . . . . . . . 21 Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 23 THE MARSMAN MAGAZINE Published each month for Marsman & Company, Inc., Marman Building, Pm·t Area, Manila, Philippines. P. 0. Box 297 The magazine is sent to all stockholde-rs of Marsman managed properties and to all •tall members of the companies associated with the Marsman mterests. NOTE: All ore values, bullion figu,,.es, etc., given in this magazi1le are ezpressed in pesos based on gold at $85.00 an ounce and sil'Ve'f' at the ma'f'ket price. Figu't'es given in monthly reports are based on mine assays, and may differ to some eztent from final mint or smelter returns. Reproduction of materials published in The Marsman Magazine is welcomed. Cuti used may be borrowed, or matrices supplied, upon application to the editor. SUBSCRIPTION PRICE. PS A YEAR. RALPH KEELER, Editor and Business Manager THE MARSMAN MAGAZINE for November, 1937 23 EDITORIAL (Continued from page 23) less, to branch out into the mine management and operating business. The experiences of the past few years have shown that this is a reasonable premise; few companies organized for working a mine have the 01;ganization, the financing, or anything else to qualify them for mine management or operation. The companies formed for the express purpose of engaging in mine management and operation, however, have a different status. Such companies, if properly handled, have competent engineering staffs, suitable equipment, and adequate financing. Mining is an expensive undertaking. It takes much money and time to explore a mining property, and to prospect and develop it if it is found to be mineralized. It takes even more to bring it to the producing stage. Further, sound management calls for intelligent busines.s direction, and for good judgment in buying supplies, in handling labor, in marketing the product, and in dozens of other details. Few mining companies can handle the mass of detail connected with successful mine management and operation, by themselves. Every phase of the industry, from the first prospecting to the final shipment of bullion, calls for the services of experts. If it were not for large opera.ting companies, with skilled staffs, the mining industry of the world would never have been able to reach its present stage of development. And so it is. in the Philippines. The bulk of the gold produced today is the result of a number of organizations. For the future welfare of the miniug industry of the Philippines, and for the accompanying benefits which the Commonwealth will derive, the commission should not interfere with the ~legiti mate operators. There could be no better way of killing the industry. MARSMAN AND COMPANY, INC. Board of Consulting Engineers: J. 0. Enberg, Chairman, A. Beckerleg, R. W. Crosby, J. B. Findley, J. 0. Greenan, G. W. Kerr, J. B. Stapler, C. A. Weekley, A. Welhaven. Geological and Field Engineering Section: J. E. Atkinson, L. W. Buchanan, A. M. Dixon, Frank Erno, S. Foley, J. E. FJTfe, E. J. Halsema, H. G. Iverson, G. H. Newman, J. D. Ross, C. G. Scott. Purchasing Department: Insurance Department: E. J. Sanders, Acting Purchasing F. J. Courtney, Manager. Agent. · Accounting Department: John Hunter, Asst. Treasurer C. E. Strait, Chief Accountant MARSMAN TRADING COMPANY Incorporated under the Laws of the Philippine Islands HEAD OFFICE: Marsman Building Port Area, Manila, P I. P. 0. Box 297, Manila, P. I. BRANCH OFFICES: Baguio, Mountain Province, P. I. Paracale, Camarines Norte, P. I. BOARD OF DIRECTORS OFFICERS J. H. Marsman Bemj. S. Ohnick E. E. Wing C. H. Hirst A. F. Kelly C. H. Hirst, Manager G. H. Evans, Purchasing Agent John Hunter, Asst. Treasurer A. J. O'Malley, Assistant Secretary C. E. Strait, Chief Accountant H. A. Ottiger, Manager, Baguio Branch H. J. H. MacLean, Manager, Paracale Branch Bodega. 13th Street,Port Area, Manila, P. I. J. H. Marsman, President Benj. S. Ohnick, Vice-President E. E. Wing, Vice-President A. F. Kelly, Treasurer M. H. O'Malley, Secretary

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