, 1879-02-23
Found in the Mountain SUBMITS Of
Colorado and Now Being De-
veloped by Chicago
Capital.
What Has Been Done by the
San Juan Bullion Com
pany.
A Profitable Field for Invest
1nentS.

doubt. Every day brings some new alscoVetles'
and tile more thoroughly the rocky businesses
are explored the more marvellous does the char
acter and extent of their wealth appear. Min
ing enterprises as rule have found m nch 1aFof
with Chicago capitalists. but with these treasure
vaults opening at our doors our most copsef'a-
tive and prudent businessmen have not hesl-
tatcd to invest their money, and some OF the
most profitable mines IN the country
are now worked by Chicago capat!al' q.
Although Colorado ;otters numerous IN
in the mountain submits OF the san Juan coull-
try is found some of The richest ORG yet dlscoV-
cred. while the unlimited supply OF the argen-
tlferous deposits gives permanent character 10
the mining operations. Other locatlols eau
show rich deposits, but they are liable to give
out after few months working. The immense
true tissure veins found In the San Juan coun,
try, however, are practically lnexhaustiolc, anu
therefore insure constant ana proditao4e r.
turn on the capital employed III working. onc
Of the first companies to commence @ operations
in this section was the Sau Juan Bullion Com
psny Of Chicago, which was organized IN May,
1878. They secured ] number OF choice
locations near the Town Of Aninlas
Forks, and one Of their mines, known
as the Prince Of Wales, is already pronounced "a
Colorado. A Government official who Inspected
this mine last November reports that: 1he
Prince OF Wales had st depth Of sixty feet de-
yeloped pay streak OF thlrty-slx 1ncnes OF
nearly solid mineral Of very high grade, com-
posed OF galena aud gray copper (sulphurets).
The pay streak gradually widencu, preserving its
valuable characteristics throughout, anu is con-
sfdercl BY experienced miners as one OF tile bcst
lodes, if not the very bes: lode, III the district.
No less than twenty-five different assays ana
1nillruns which have been nude at yale
College, Fittsburg, Denyer, New York,
Chicago, and Animas Forks show
au average OF s37G.74 to the ton Of ore. The
gray sulphurets and galena assay all the way
from $50 to s1,500 per ton., From the tests
made, the lode is believed to be superior to the
famous Comstock lode, which now pays dlVf-
dcnds OF $1,500, 600 month.
Besides the Prince of Wales, the San Juan
Bullion Company have mines on the Iona, the
Fountain, and the Jennie Forbes lodes, all in
the Eureka district, in the neighborioou OF
Animas Forks, and all producing the same quail
itY OF ore.
The Company have their own watcr-powcr,
timber, etc., and this season will erect the ncc-
cssary works to fully develop their property
and reduce the ore which is now being taken
out OF the mines and piled on the dump. The
AtchisoD, Topeka & Santa Fe Railroad, which
is COMPLETED to Alamosa. is being pushed Tor
ward as rapidly as possible towards this dis
trict, and the material reduction OF frei9hts
which will result will greatly assist the dcvel-
oprnent Of the mines. The headquarters OF the
Company IN CnlclG0 arc 1T llUOIl IL aNtLTopOii-
tan Block, where samples OF ores can DC seen,
and full Information concerning the condition Of
the Company and location Of the different
mines will be checrfully furnished to all inter-
estcd. As a reliable and perfectly secure in
ycstnlcnt, with every reasonable prospect OF lH-
mense return, the mines controlled by the San
Juan Bullion Company offer extraordinary in
ducctnents to businessmen. As the Company is
entirely free from debt, all the available capital
can he used in working the mines aud reducing
the ore to bullion for the market.
In the Prince OF Wales Mine shaft has been
sunk to depth Of over 100 feet, and the drift
iu, shows plenty Of ricl, ore. In the Iona lode
they arc also running d tunnel which follows the
lode, and has reacned distance Of over. 100
feet The n,ine shovs.excellent galena and gray
copper ore, which is being taken out in large
quantities. ::
1u this connection it may be noticed that the
amount of Chicago capital already invested in
mining demands the establishment Of Mining
Stock Exchange similar to those in operation in
San Francisco aud New York. All stocks apply
ing for representation should be examined
ami passed on by Board Committee. The
placing OF the stock on the Board would then
be d guarantcc to the public that the mine had
an actual existence, and the stock could he
reached at legitimate market value. Such an
institution properly managed would encourage
capital to invest in mines, anti would bring 4
flow Of bullion to the city, and in many ways
would contribute materially 10 the prosperity
nf CHICAGO.