New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-21
COLORADO'S NEW WEALTH.
THE MINES on FRYER HILL.
TIL 0II-'fs7 V.N It ~ I1'S II11@I1'
TWO FAMOUS BONANZAS-NEW DISCOVERY

tFROM STAFF CORRESPONDENT OF THE rRIBUSE.l
LEADvILLE, Col, June 3.-After the mines on
Iron and Carbonate Hills had been discovered and
their richness demonstrated Mr. George II. Fryer.
miner of some experience, conceived the idea that
there must be similar deposits of silver in the hill
lying north of Stray Horse Guicb. Taking a COM
pass, he says, he ran a line from the Carbonate
Mine across the guleh, and having determined the
probable direction and pitch of the vein, if
should be found, selected a spot and began to sink
a shaft. This proceeding looked upon with
great contempt by old prOspectOrs. The discovery
of mines before the Leadvilie carbonates were I'M
covered was a profession occupation, with it.
well-understood and carefully followed rules Of
procedure. The "prOspectors of the Western
mining regions have themselves, rarely been miners
Il has not been their business to develop
veins of the precious metal or 10 take
ont ore. They have been simply the discoyereu
of Mines and having struck pay rock" they have
generally sold out and moved to new fields.
Nor does the professional prospector" % digging
about on the mountain sides in an almess way
hoping to make a strike, but he proceeds syste-
mahcally and IN some degree scientifically. liz
searches up and down the guches for ioat" OK
detached pieces of orc that have been broken of
and washed down to the stream. Having found
"hoat" of apparent richness he takes careful note
Of the position in winch It lies and the general con-
tour of the ground in the vicinity in order to deter
mine the direction from which Ii must have come.
Then he goes upon the hill to find the outcrop, and
if successful does no more work upon il than is
necessary to prove the value of the mine he has
discovered. Bya systematic search like this Mr.
Stevens discovered tho Iron Mine.
A REVOLUTION II PROSPECTING.
The finding of carbonate has made revolu.
ton IN the business of prospecting. In only few
i.,.t Ina 81, NJ ~ Ia
veins been found. and many of the best min es have
been discovered Oy digging places where there
were no surface indications of the presence Of Ein-
eral. The prOspector ia this camp takes his pick
and spade ON his shoulder, and, having taken INTO
consideration all the fact, brought TO light by
mines and prospect holes already opened, chooses a
spot and begins to dig for luck" Mr. Fryer was
one of the first to conjecture that the silver ore
having been found m two adjoining hills might also
be found in third, and so, shoyeing away tho
snow, he began his'work. At distance Of fifty or
sixty feet he found VEN, IN which the ore, Though
not assayng as high IS that taken from some other
mines. surpassed them all IN the magnitude OF the
deposit. He called his mine the New Discovery
and the mountain Oh which II was situated IIyef
Hill"
At about the same time that Mr.. Fryer began his
shaft, IN the Spring of 1873, two other men, George
Hook and August Rischc. both without means, in
duced Mr. Horace A. w. Tabor, who then kept
small store on California GuIch to enter into part
nership with them and put in what miners call
grub stake" BY this it is meant that the person
possessed of means shall furnish provisions and
tools to the pr0Spect0rs while they are searching
for mineral, and In return have q share Of what
they fud. Mr.. TabOr's partners went up upon the
hill where Mr.. Fryer was digging. and selecting
spot above his shaft began to sink OF their own
Mr. Tabor has often said, since, that ii he had known
where these men were going, he never would nave
risked anything on their success, and more than
once before the ore was struck he talked OF With
drawing his :" grub stake" Soon after Mr.. Fryer
found the ven Messrs. Hook and Rische also pierced
il. Tho called their mine the " Little PlttsDurg"
TWO FAMOUS BoNANZAs.
In these two mnes, the New Discovery and the
Little Pitsburg,! have been uncovered the most re-
markable bodies of silver yet discovered in this
whole region. Mr. Tabor, who, believe, bought
out his partners, took out of the Little PitJsDurg
and sold in five six months three or four hun
bred thousand dollars worth OF ore. and then sold
the mine to Messrs. Chaifee and Molatt for large
sum of money On the 18th of last November the
New Discovery. Little PIttsburg and two less inn
portant mines, the Dives aud Winuemuc,
sodated under management, and although
since that time the work upon them has been
mainly in the nature of development, no more ORE
having been taken out than necessary, IN driy-
ing drifts and levels, and TO bring tle deposits into
sight, THESE mines nave palu tncU OWbtIb over anu
above expenses, the cost of new buildings, machln-
cry, etc. 800, 900 month.
The deposits IN the New Discovery and Little
Pttsburg Mines are different from any OF those
which have before described. lIhe Dives and
Wlnnemuc are as yet comparatively uhdeNelopcd
uliuesl The ore consists largely of " sand carhoIi-
ates colored with oxide of IRON; and while there
Is irregulaTlty IA its thickness, II Is found over
large areas. ak, eight ten and IN some Instances
from twenty TO thlrry-n feet through. The mine
has been developed for the purpose Of showing tho
ore, and where tle largest deposits are, gaugways
have been cut around them, dividing them INTO
blocks each fifty feet square on IT'S base. These
can be easily measured, and by taking trial
the value of he IN them can be- accurately as
certaIned. Daring the visit To Leadylle last week
of the New York directors of the Little PIltsOur2
Company, recently formed, Professor Rosslter
W. Raymond was employed 10 make care
full examination OF the mines aud report.
In his verbal statement he sand The ore that could
actually be measured aud the value of which could
he accurately estimated would net the company
-, 100000, of which Tl,oOO.OOO Is IN the New
Discovery Mine ana $500. 900 IN the Little PITTS
burg In addition to this, he said, the company
is pretty certain to realize 81 ,OOO 900 more from ore
which eau be only partially seen, and ths estimate
is made on less than 10 per cent OF the whole terri
tory of the company, rs contiguous properties on
every side are working IN rch pay ore Ihe rsut 9f
future ex plOratou IN these mines no can tell,
but the prospect 0fndng other large bodies OF orc
not yet uncovered is, to sag the least. promising.
These mines are to be sold, | believe, in ioWr
blOcks-l4 at $50 per sharr, on a basis OF $1,000
600 for the whole property y az $50 per share. on
a basis of S5,0o0,00O for the whole property re-
mainder on the Stock Exchange al market rates.
The first quarter, | understand, was all promptly
taken up by the Board of Directors and few of
their friends within ten days. The second block IS
now beiug rapidly subscribed for at $50 per share,
and with the large dividends which this property
is capable of paving from the start, there viii prob
ably be but little delay III placing all the stock 70
be sold.
FEATURE OF THE LITTLE PIrTsBURG GROUP.
One popularity of the Little Pittsburg group OF
mines, and indeed of all that have thus far been
developed on Fryer Hill. must not be forgotten.
While in all the other mines have thus far de-
scribed the upper and lower boundaries of the VEN
are marked with more less distinctness, in the