The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-03-09
MILLIONAIRE MINES.
Men Who Fave Made Great Fortunes,
and How They Got Their Start.
Front the St. LOUIS Globe Democfdt

17xchange was established two month ago
ard addresses are delivered at regular in
+ervals before members of the Exchange
and their friends, while the newspapers
have entered the field in response to the
,,onnlar demand fox Information on the sub
iect of mines and mining. Beginning with
March /, daily quotations will pe exhibited
Of the Exchange upon all mining pro erty
in which Kansas City is inter- sted. Fully
a dozen mining properties i'll differ mt parts
If the West are controlled by local capital
ists A large return IN the shape of divi-
dends has kept the interest at lively heat
and SPECTATORS and capitalists OF this city
nropose to enter the field and grasp at some
If the enormous riches that flow from the
mineral resources of the West. The in
creased interest in mining may, perh ps, be
partly explained by the fact tlat the soec-
nlative fraternity cannot see the profits in
real estate that the past three years have
exhibited, and have turned their attention
to mining.
Old miners say that every ten years since
1S49 the country has gone wild owe the dis
covery of rich deposits in the West. An
examination of the history of the Industry
in this country shows the statement to be
true In 1S49 everybody wanted to go to
california; in 1859 the discovery of gold at
Pixies Pead flooded the West with adven-
turers; in 1869, Virginia City; in 1879,
Ieadville; while 1889 will eclipse the record
by discoveries all over the West
Mr.. James H. Myoes, superintendent of
mines in Summit county, Colorado, and a
successful miner of twenty-five years expe-
rience, was encountered at the Exchange
bv your correspondent yesterday Mr.
Mvres picked up 800, 900 in gold dust wash
ing places in Arizona, Colorado, and Mon
tana before he was 25 years OF age. He is a
pleasant and oblging gentleman and was
readily drawn into conversation on his ia.
Vorite theme.
"Mr Myres, is there any money made in
miningp
The reply was almost startling
Il never knew a man that stuck to min
ing closely for ten years who did not make
a fortune. Last year Sl03, 100000 were
taken out of the mountains. Within the
past seventeen years the States and Te ri
tories west of the Mississippi have produced
S6l50J0,000 i'll mineral products. The
s25,000.000 invested in machinery produced
$50, 000 last year. Half the product
may be- marked down as clear profit. The
mines of Colorado ao le give EMPLOYMENT
TO 10000 men. Yes, there's money in min
ing 1t stands alone as the only Industry IN
which a man may engage without a single
dollar to his credit and wind up million
ARE. This is entirely possible in mi ingn
y
viii you be kind enough to name the men
that have made fortunes in the mountains"
The veteran settled himself in his chair
crossed his right leg over his left knee, tilted
his hat over the back of his head, and began
his reply:
Senator Hearst, of California, is beyond
doubt the best miner in America. Originally
from Missouri, he began in the mountains
as day laborer. He steadily assembled as
inf 10 ig
to-day the richest man in the United States
There is not mining State or Territory in
which he is not owning and working some
mining property. He has 5000 men in his
employ in this country. He stated to me
recently that he hadn't lost dollar in
mining for twenty years past. Have heard
him say that he would much rather be in
his mines than in Washington. His wife's
social pirations led him to accept official
position.
&. Jim Witchlatch was formerly owner of
the Witchlatch Union mine, near Union
ville Mont. He sold his mine TO- 81 800, 900
in gold. He lost this stake on Wall street,
went back TO Leadville, and in six months
made 1920, 900, and lost every nickel of it in
1888 by the failure of Grant & Wards
bank. Nothing daunted by his recent col
lapse, Witchlatch turned up at Kingston,
n. NJ. Last spring he got a bonded lease on
end sold it to st. Louis parties so as to place
a bank account Of $150,00O to his credit
AT the present time this lucky child of for
tune is in Brooklyn nursing a broken leg.
THE Mary Murphy mine was sold by the
discoverer six years ago for $4,000. ST.
Louis people bought it. For three years
past the airy Murphy mine has been pay
ing dividend on $3,000000.
Tom Bowen went to Colorado from
VII l., -,
health, and, being member Of the Masonic
fraternity, t hey paid his board the first
winter One night Bowen won 500 at
poker, gave it to prospector for a grub
stake, and gained the Little Aunie and Col
conda as the result of his venture. These
two mines have paid as high as $4,000 a
day in hard cash. A conservative estimate
places the ore in sight at $500, 900. To-
day Tom Bowen is United States Senator
and the most popular man in the State of
Colorado.
'The reward Of perseverance, Joe Stan
ley, one of the wealthieSt men of Denver,
and Vice President of the Denver City Ma
tlonal Bank, had prospect ten years ago
ia Gllpin county His wife took in wash
ing to buy flour and bacon, while Joe dug
his way 100 feet through barren rock. He
had no capital and couldn't hire assistance
AT the end of 700 feet he struck pay ore and
named it the California mine. A party Of
Englishmen on a tour through the State
gave him 100000 in cash for the mine
1t has paid them over $5,0OO,00O in oivi-
dends, and is still being worked.
Gov. Tabor is supposed to have made
more money out of mines in ten years than
any other man in Colorado. Outside OK
$l,0OO,0OO that he has invested in Denver
real estate, his fortune is all invested in
mining property. At the same time the
Governor is the heaviest borrower in the
State
Diamond Joe Reynolds income from
mines he owns in Colorado is over 100000
year His investments in the Centennial
State were mainly made through an Irish
man that worked on one of Reynolds steam
boats on the Mississippi river. Diamond
used to say that he hadn't much education
himself, and he wanted a partner in the
same fix, so that he could depend on a
square deal. His partner, Col John Nor
Tlssey, is immensely wealthy, and has over
$500, 900 invested in race horses. His stables
IN Denver hold Us of them. Three years
ago he married a school teacher, as he
GAINED, in order to learn to read and write
Diamond Joe lives like prince in mag
nltlcent residence in Chicago.
The first mine ever sold in Colorado was
disposed of by Joe Watson. twenty-five
years ago. He received 100000 for his
mine That was big money in those days.
lie lost IL all by dissipation, and went broke
Tor two years. In 1882 he got 500, 900 cash
Tor his interest in the Evening Star mine
hear Leadvjlle. Joe Watson has not one
cent on earth to-day.
hot