New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-21
MINES OF COLORADO
Al FINAL, LETTER FROM SILVER CLIFF.

OFTEN MADE AND SURE WAY TO AVOID
THEM-A FIFLD FOR CAPITAL.
(FRoM STAFF CORRESPONDENT OF THE rIIBUSE
SILVER CLIFF. Colorado, July oG.-There are
mines and mines for sale here at Silver Clilf, and
this series of letters would not he complete without
few words about the inv estment of capital in this
camp. / suppose there is not an inch of ground III
the whole rich chloride belt that is not already
covered by ut least one claim, and the country all
around. far outside of the limits within which good
ore has been found. has been prospectcd and dug
into until it looks like an enormous praiIie-dog
village. Almost every one of these prospects"
good and bad, is for SALE and the owners are many
of them. anxously waiting here for purchasers
Every week somebody from the Last who mas inc
fever" arrives, buys mine within twenty-iour OF
forty eight hours, and returns home believing his
fortune is secure. have been here only few
days and yet l have already heard of three such
sales to gentlemen who came since | did and two
of whom have already returned As only n lew
hundred dollars is generally paid for mine pnr-
chased in this way the amusement is not ruinously
expensive, unless the buyer has 1t so bad" as to
spend additional thousands of dollars Ill trying 10
develop barren rock, while by these transactions
little money that would probably be squandcIed IN
some other way if not in this is brought into the
camp and helps the boys along. 1t Is n'eileSs 10
say that there is very little danger that mines
bought in this way Will ever produce any good ore
no matter how much money Is spent III their deNei-
opment. / believe Silver Clf can furnish larger
assortment of this merchandise than any other
mining camp l ever visited, Leadvilc alone ex-
ccpted.
THE OPPORTUNITIES FOR CAPITAL.
But there are good mines to br bought here; not
for two or three OF five hundred dollars, but Tor ten
twenty. or fifty thousand dollars, tie price being
tod nv bp ql1 a
found in them, and the extent TO which the
ground the, cover has been explored Some mines
that have turned out well have been bought Tor
very small sums of money here during the past TWO
years but there had BEEN at the time, very H''le
prospecting done upon them, and nobody could
know how they would turn ont. Such oppor'u-
mites ere not now likely to De presented. There
are in this town at least half dozen men who'
by education and experience a:c able to recognize
a good mine when they see IT, and VINO nave neeh
here 4 wear or more studying this formation and
watching closely every new development that Is
made. They know every mine on the chloride belt
in which good ore has been found IN any quantity
and, backed by Eastern capital, they stand ready
TO snap ND every good bargain that Is offered. IT
| is not reasonable 10 suppose, therefore, that
stranger can come here and. the first day alter his
arrival. buy bonanza for Il smiling
Eastern capitalists who want good mines ana are
willing 10 pay good prices for them cam bclieNc'
find some here. Many OF. the owners are poor men,
unable TO build mills upon their property or 10
| command the capital to do It, and are anxious to
| sell if they can get what they think their claims
| are worth. person who goes about 1t III blSl-
ness-like way will have no trouble IN lhding these
men. The whole ground ought to be carefully
| looked over before purchase is made ana II the
assistance of mining expert of established repu-
lt, I'M
,ronerty can he secured the fees that are paid him
| will be money well spent. The mine to he pur-
! chased should be thoroughly examined III every
part assays of the rorl from every point where II
| has been opened should he made and the ore In
| adjoining claims carefully examined and tested.
| EVERYTHING about the formation and the ln0Ica-
| lions W hch point to good Ore as well rs the posi-
! ton in which pay IOcG is generally discovered
! shoul1 he noted In short. if an intending pur
| chaser goes about his investigation IN business
Ike way. there will be very little DANGER that he
| will be deceived or cheated. There onght to be 40
more risk in lnyiug mine than IN buying q
grocery store, and there would not be if the same
| nrccautjons we've taken and the same business
| principles applied.
1wO MISTAKES OFTEN MADE.
Having bought mlnc, the question arises
What shall lc done with it? Build Mill More
money has been wasted in the building o. rcduc-
toD works 70 handle the ores of mines which after
ward turned ont to have very little or III them
| than IN any other !w9y connected with the bUai'
ness. 4 good conservative rule laid down By
some of the most successful miners i'll this country
is that no mill should bc built on any property
until enough ore is in sight 20 supply 1t for year
! There onght to be 40 guess-Work about inns. liz
ore ought to be whore il can be seen ana measure d
and ossovcd aud not hidden away in tie earth II
mob. M al lDf4F Il f. III q
the mill is bought than to take the risk OF runninl
ont Of ore after il is built. If the mine dsappoint
the owner be does not have a mill on lis hands io
which he has no use; if the mine Turns out We'll
thu increase in its market and real value, on ac
count of the developments made, VIII he ~ lcas
five times rs great as the amount OF money spent
The expense OF operating mines and reduction
works in this camp is about the same as III t''
older mining centres in this state. The rate d"
freight from Canon City on general lnei"hahhls'
is now 70 cents per 100 pounds and on machinery
one cent a pound. Lumber can be obtained AT ldl
priccs for a mining camp, and fuel now costs -
cord for pine wood. The completion OF the ran
way will probably cause a material reduction to b
made IN the price Of freights, and it is believed
that coal will then be delivered here for - ton
one ton Of coal being equal for the purpose OF max
ing steam to three cords of wood. Labor c0at
abcut the same here as ut Leadvilc. Miners, car
peuters blacksniths. and other mechanics are pai'
s3 n day fOremcn and engineers from II TO -
dav Common laborers receive from - to - %
day very few being willing to work Tor the iormc
price. have said in 4 former letter that DeneVc'
fiat the ores of the chloride belt II handled II
large quantities and IN the most economical way
ran be mined and milled for 50 n ton, ana ! nav
s,Dce seen no reason TO change that opinion. a
that rate handsome profits could be made IN treat
inc ten.our ce ore and ore Of even lower grad
could be handled with advantage.
One Of the worst mistakes that has been mad
dnring the last two years in the management 0
mining enterprises has been the oYer-stocklhg o