Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1880-04-15
romeroy's Mining swindle.

Brick Pomeroy appears to be
drawing certain of his admirers into
scheme as infat ed as his greenback
humbug. This time it is pretended
mine near LeadyilIe, out of which
he is going to give hundred thous-
and or 50 of "working men" for.
tunes for $3.50 each. Mr.. S. B. Lum,
Jr., formerly of this county, iavors
us with a COPY of the Leadville
Daily Herald, which exposes Ponce
roy's scheme after the following
fashion:
The Herald frequently receives in.
quiries from the east in regard to
mining schemes about which il has
no knowledge whatever, and about
which it can gain no reliable infor.
nation, and though We have frequent.
ly discovered that the properties
upon which these schemes are ba sed
are comparatively worthless, we have
not received sufficiently reliable in
formation concerning the character
of operations in the eastern stock
markets to enable us to take proper
measures to expose schemes which
we are satisfied are worthless.
The latest scheme of this charac-
ter, however, that is now beng
pushed In the eastern states, is one
with which many of the older resi-.
dences of Lake aud Park counties
are perfectly familiar, and of the
fraudulent character of which they
are well satisfied.
| In the year 1860 a claim was 10.
Gated in Pollock Mining district, at
the head Of the Blue in Summit
county, and ohristened the Qaandary,
the name aptly describing the char
acter of the mineral discovered. The
mineral was scattered in detached
particles through the lime rock, and
was mostly zinc blend. The claim
has been abandoned and relocated
several times, some of the parties
who have periodically attempted its
development, having expended as
much as two thousand dollars upon
the name of the Monte Cristo, a
stock company organized with
Brick" Pomeroy, DR.. Belden and
DR.. Warren, of Alma, as its princi
pal promoters, and the stock thrown
upon the market at $3.50 per share
the par value of which is $40. The,
value of the property is an undis.
covered qnanitv, and as the several
operators have been twenty years
discovering it, it seems likely to
remain so. Some five years ago,
the parties then operating the mine
took out a quantity of ore aud haul.
ed it over to Alma tor treatment.
After it had been treated, the parties
told Mr.. Bergh, who supplies us
with those facts, that if they got
everything cut of the ore that was
possible, the receipts would not have
paid for the transportation. The
property of the company, aside
from its deposit of lime stone rock
consist of y stamp mill, worth per-
haps two thousand dollars, and as
we are informed, few articles oil
office furniture. So much for the
company's property, as it Is known
in Colorado. Now, as to the man
nerin which the stock is being place.
"Brick" Pomery came to Colorado
last winter and distinguished him.
self by addressing a labor meeting
In Denver, in which he dweslt par
ticulary upon his love for the labor
ing mana love, the working of
which were perfectly familiar to
very many of his hearers. While 10
the state he became interested 10
some manner in this scheme, and is
now the principal agent for the man.
ipulation of the stock. The princi-
pal scenes Of bis operations are in
the states of Illinois, Iowa and Wis
consin, aud the persons who are be-
coming stockholders are principally
working girls, mechanics and labor.
ing men, who ont of their scanty
earnings ere subscribing for stock
that in all probability is not worth
the paper it is printed upon. These
classes, having acquired a confidence
in Pomeroy, as friend of tho work
ingman, subscribe readily and it lie
not at ell improbable that the entire
capital stock will be subscribed un-
less some measures are taken to
convince the people in the localities
mentioned Of the real character OF
the enterprise. No minor familiar
with the history or character of the
mine would venture dollar 10 its
development, and where miners are
afraid to tread Pomcroy seems to
be successful in inducing poor peo-
pie, ignorant of the facts, to ven
ture.
There are many such schemes in
successful Liberation, many of them
with even less pretensions than this
to which due attention will be paid
es soon "a the facts are defaitely
known. There are largo number
OF good mines in the vicinity Of this
claim, and it is due to the owners of
this property that their prospects
shall not be injured by the booming
of valueless property when the bub-
bic bursts, as it must burst sooner