Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-02
PROFITS TELL THE STORY.
A Steady Pour of Dividends From the En
terDrise Mines

A Steady Pour of Dividends From the En-
| terprise Mines.
| DENVER, July Newman Hill, the
home of the Enterprise group of silver
mines, is good place to watch. 1t is max
ing straight for fame. No one needs to
boom it. The telling force of facts will do
that, for the new group, almost unknown
until year ago, has turned out one of the
best dividend payers in Colorado. The
future is quite as well assured, since the
| property looks better than ever. Less than
one years work with a gross yield of ST.
O09, 900 has opened up new ore bodies and
has given such further bonds for rich re-
turns that the best judges of mining prop
| erty do not hesitate to place Newman H i'll
in the front rank of mining camps.
Measured by years Newman Hill is not
old. Few people beyond its shadows had
heard of it five years ago 1t leaped into
prominence last year, when dispatch from
Denver reported the payment of 81 ZOO, 900
over the counter of bank in that city to
complete the purchase OF the Enterprise
group This purchase, at the largest cash
price ever paid for Colorado mine, natur-
ally excited the mining world. The little
| town of Rico, in Dolores county, lying at
W
into the line of travel.
Mining men were predisposed from the
beginning toward the Enterprise group.
Its purchase by George Crawford COM
manded respect for it. Mr. Crawford had
behind him record of unbroken success
He enjoyed among those interested in
mines reputation for good sense and good
management Always knowing precisely
what he was about when he took hold of
mine. it was as certain as anything could be
when he bought the Enterprise properties
that they contained great wealth. No one.
questioned tor moment that the foresight
and good judgment which had characterized
his business career had been employed with
their usual care in this case. The only
question now is whether he knew what
good property he had secured.
The history of the Enterprise group may
be told in the pleasing rhetoric of figures 1t
was turned over to company in the latter
part of August of last year. Since Novem-
ber l, when the first information of returns
was given to the public, it has paid in divi-
dends $3.50. 900 on Its capital Of g, SOC, ,ooo A
modest notice of its dividends which ap-
pears monthly in the newspapers tells in
part the story of the property's manage
ment. 1t can give only meager idea how
ever, of what has been done or of what is in
prospect
A summary of the returns of three lots of
ore shipped from the property from June 1
to 18 shows the way shipments are
now running. One lot OF five cars runs g. O3
ounces of gold and 267.7 ounces Of silver to
the ton, making the value of five cars $12,-
400. A second lot of five cars runs 32S
ounces Of gold and 256 AZ ounces of silver,
value of the five cars $4,000 A third lot
runs 3.93 ounces of gold and 254. ounces of
silver, value of $4,000 tor the five cars
There are seven cars on the way to the
smelter which are worth SIS, 900, being high
grade ore; 27 cars Of low grade ore having
value of 81, 300. This makes total value of
shipments from June to June 18, S62. 200.
Receipts for May Isl cars) amounted to
SS3, $50 40, and receipts to May 1 were $677,-
174 OF, making a net total to June 1 of
S761 024 Al since the mine was operated by
the company, The. average net value per
ton of ore has been S125, or 81, $50 per car,
and the total gross value of ore produced,
from which expenses of freight, hauling and
treatment were taken in making the net, was
81, OO9, 900.
While these figures leave no doubt that
the property has proved to be all that
was expected of it, they hardly do justice to
the facts. In the development of the various
mines vast ore bodies have been exposed In
all directions. A new vein in the Jumbo |
mine, one of the group, may be cited as
sample of these drifts 1t assays from two |
to five ounces of gold and from 200 to 400 !
ounces Of silver per ton.~ In general the |