The New York herald., 1879-07-06
LEADVILLE.

PREDIc led WEALTH OF THE NEW COLORADO
MINING OBSERVATIONS OF COR
REsPoNDENr-NEw MINING SCHEMES FOR
NEW YORK SPECULATION.
LEADvILLE June co. 1879.
As the season advances the march Of discovery
confirms scientific prediction. There be very
little doubt that Lerke county, Col, far sur
passes Nevada in mineral wealth and that the for
tunes won in the famous Comstock lode will be
eclipsed by the bonanzas Of Leadville. Within the
past forty days fifteen paying mines have been added
to list which already reputable. OF these, two
the Judge Pendry and the Washburndeserve especial
mention. Before their discovery the rolling limestone
had been considered bed rock. When the prospector
had gone through wash, porphyry and iron and had
struck the limestone without finding mineral he
gave up his hole bad job. Judge Pendry was the
first listen the of fscence. who declared that
limestone could not be bed rock and that mineral
would be found below it. He dug through the lime
stone and at depth of 100 feet below the adjacent
carbonate layers he struck the second tier of deposits
considerably richer than the first. Isolated speci-
of his assay 900 ounces. and mill run of
400 is expected. His example was followed by the
owners of the Washburn ana the result has been the
same. At $40 feet below the ground they struck the
second layer Of carbonates which assay 1900 ounces
Thisimpes mill of about 900 ounces But fthe
mine Will y1elu STEADY supply Oh ore oOO
ounces the fortunes Of the eight owners will pres
emily be reckoncd in millions. 1t is becoming gen.
eral remark among miners that the Pendry and the
Washburn cannot be isolated cases. and that all
or nearly all the mines will strike their seconf layer
if they 60 deep enough.
NEW COMPANIES ORGANIZED.
These technical terms-second layers, carbonate
deposits, contact veins assures pancakes &c.-will
all be household words among You in New York
before the summer is out For it is evident that
San Francisco laid hands the Comstock mines
and reaped millions from them, lew York is
going gather the harvest of the mines of Leadve
week deputaton consisting of the president of
the New York Stock Exchange. the president OF the
Board Of Trade of Providence. the superintendent
of the Erie Railway the superintendent of the Adams
Express and a of bankers and lawyers, repre-
sentng capital than dare venture to estimate
spent several days here under the tuteage OF Gov
ernor Tabor and Senator Chaffee. examining the
mines. 1t is understood that they inaugurate the
campaign by introducing to the public. through the
medium of the Stock Exchange the stock Of the Lit
tie Pittsburg Consolidated Company. which has been
incorporated in New York with the trifing capital of
s2o ooe. Inc mines or the Little pitsnurg
plenty ore of good quality. But the monthly
dividend thus far is only fifty cents share or
$1,200,000 per annum, the capital would seem
large. Still the projectors probably know their own
business. Another batch of mines incorporated
and comprising the Carbonate mine, one Of the best
in the camp. has likewise been bought by New York
speculative favor. Senator Jones. of Nevada,
has bought the Shamrock for $25O.O00, and
purposes volt il no said ;1a.n to bring it snn Eut
q true assure vein, carrying a body Of which
assays 400 ounces. with streaks running as high
5000 has been bonded to the great Missouri
mers, Waggoner Gates. for $40 00O and is pretty
lind It's into Broad street before New Years.
Half q dozen other good mines. yielding handsome
nrO ts ire q
follow in the same direction Nor is this surprs-
ins does it follow that these mines are neces-
| and may yield good interest on that amount. But
| S1.0Oo000 in one SUN is so vast an amount
dicates draw single check for much and 1t is
| only through the agency of incorporation and the
machinery of the Stock Exchange that the
of such enormous properties realize their values.
RICH MINERS
After the mines you may look out for the miners.
venture to predict that. within year. the glories
| of the grandest of your oil kings and your Nevada
millionnaires will pale before the dazzle of some
first to New York. then to Paris Their story
can be read in the arabian Nights" You may
form some idea Of it from the fact that Professor
Weiser. who went through the mines with foot
| rule measuring the ore and then assayed samples
from various parts of the veins reported that two
| or three single mines here contained each
100000 and 900 worth of silver. which
could be extracted at small expense 1t is said that
Mr.. Mackay's income is So, 900 900 year. But the
| income of Governor Tabor, who eighteen months
ago kept small grocery store ut the village of Orc.
of pound OF bacon a cake of SOAP will
probably exceed this amount. and his interests
| vast and scattered that Commodore
Vanderbilt said of his early California ventures he
| might be robbed OF million every year without
knowing it, The cashier ot "a small bank here
last November with nothing and in the seventh
heaven receiving appointment at 81 900 year
salary. with board and lodging. He is now worth
100000, and says he will return cast in the autumn
with $lOO.OOO and eighth OF a mine. Two
Irish laborers. whose widest ambition last
| year did not extend beyond regular work at
| u
whiskey on saturdays, are now building very
the Champ Elysces. The owners of the Highland
Mary would have been glad to take $3.50 n few days
ago for their prospects. They struck ore last week
and have Just engaged cook at $l25 a month and a
waiter at s45 1t is difficult, in truth. these luck
ones to say what they are worth. mine will sell
for the in sight, and more. The purchaser
makes no allowance for what lies beneath and
| unseen.
OF course every miner does not strike n bonanza.
any more than every man could go to Corinth in the
| old days. Round Leadville Tor miles and miles,
away in Ton-Mile Gulch and far south in
| Gunnison county the soil is honeycombcd
| dug and dug and dug the vain hope of striking
mineral. and at last when TODD and clothes and tools
and patience and courage we're all worn out, have
abandoned in despair. Here is the opportunity for
| new comers Hundreds OF promising holes be
bought for just the sum necessary to carry the
original owner back to the State from which he
came, and with little labor and be
carried down to mineral. 4 his, however. is trying
country TO live in. and unless rich reward come
| swiftly weary of it. On the I'd of
June the ground was frozen solid. and
| for two days snow storm has ragged
| which has delayed the coaches twenty-four
| hours. Nothing will grow here. There is not pig
or cat in the town. Dogs are short lived. Cows
give gallon of milk per day. bad cold leads gen
orally to pneumonia, and, though the actual mortal
ty is not great the proportion Of sick is large and
doctors busy. Strangers cannot engage in active
| exercise for more than a minutes time. The
too thin to initiate the lungs, and the
sation of impending sunocation Is anything but
| pleasant In the words of OF the oldest inhab-
iants, Irish resident of several months, 'This Is
the best place In the worruld to make money. but.