The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-06-30
COLORADO MINES CLOSED.
Every Mine, MIL and Smelter in
the State Will Stop.
THE EFFECT OF THIS STEP.
Eighty-flre Thousand Men Will Be
Thrown Ont.
This Conclusion Arrived at After Two
Hours Meeting of Mine and Mil Own
ers = Prominent Miners Inter-
viewed on the Outlook.

DENVER, June 29.-lSpecial. = The
crash for Colorado came today when sill
yer dropped to 60 cents. Pandemonium
reigned on the mining exchange and
stocks went begging for buyers. S1.5O
was bid for Mollie Gibson, the pride of
Colorado, with sales of shares at 3. The
mining men on receipt of the Wall street
quotation on silver held an informal
meeting at which no action was taken,
and adjourned to meet at 3 O'Clock at the
Brown Palace Hotel.
At 8 O'Clock the rotunda of the hotel
was crowded with men who represented
the wealth and brains of our famous city
and state. The meeting was called
promptly on time, there being present
from out the city Manager Freeland of
the Aspen contact, B. Clark Wheeler of
Annie and Mineral Field, w. Brunaton
of Cowan, Craven Tunnel and Della S.,
Z. d. Adams, a large owner in the Snug
gler; ID. w. Hiemen, another Smuggler
owner; Manager Cox of the Mollie Glib
son and President Haggerman of the
came; President ID. r. @. Brown and
Manager John Valmer of Aspen, Morse,
Holden, Edward Rogers of Creole, Ed.
Smith, George Smith of Percy Mint,
David Moffatt, John Morrissy and q num-
Der of other prominent mining men.
After two-hour session they adopted q
series of resolutions ordering the imme-
diate cessation of mining in the state.
The resolutions declare that the world
cannot transact business without silver
money; that the actual cost and value of
the metal far exceeds the incorrect views
which the monometallists formed; that
the inevitable course of events will
quickly demonstrate that enormous sums
OF money invested in railroads, loans and
other property Will so depreciate in value
that the monometallists will also be con-
WINGED that some action must be taken
with silver to resort to its legitimate use,
which it has not held from time imme-
mortal.
Talk among mining men develops that
a mass meeting in this city of the big
business men of the state will be shortly
called to take emphatic action on the
situation; also daily meetings or a series
of meetings, which will be looked fol
with interest.
B. Clark Wheeler, when interviewed by
your correspondent after the meeting
said: 'fFree coinage will be the result OF
this, and the gold bugs will be brought
down from their high and merciless
perch
D. w. Heymen, interested in the Snug
gler, said: ssThis is the hardest rub Den
yer and Colorado ever had. 1t will re-
salt in the passage of free coinage act
by a special or the next session of Con.
gress. Wall street and the administra-
ton are accountable for it. Eighty five
thousand men will be thrown out of EN-.
ployment, causing great suffering to bus.
mess which it will take several years tc
overcome. Free coinage is bound tt
come, must come, and will.' And Mr.
Heymen voiced the sentiments of severa
of his mining associates who surrounded
him during his announcement of Wal
street.
Dave Moffat, the great financier anC
miner was more reserved in his remarks
"Cleveland," he said, "must give us tn,
free coinage the united west demands
We are not toddlings any more and loan
must be made for all the country, no
Wall street and London alone. Silver i
the money and free coinage we mus
have"
E. D. Holden, the 'sLittle Napoleon, ,
was most severe in his denunciation 0
Wall street and said: 'sUnless we hav
free coinage we viii establish monarch,
of our own. We'll refuse our obligation
in the east and default our bonds and in
terest.'' This statement he sent to Wal
street brokers, Watson & Company in an
swer to query from them on the outlool
of Colorado. Mr.. Holden has owe
$500, 600 in bullion at his smelter Dough
at 81, and today with silver at 62 he is il
bad shape.
The EUeRing Post rakes Holden over tn
Goals for this statement, and claims 81
is criminal blunder and will DO NOR
harm to the business of this city in on
day than the decentralization of silver il
India could do in year. The substantial
business men of Denver will not repudi
" ate their obligations in the east or else
where" Continuing, the Post turtle
says that "Mr. Holden hbels the GOO
name of our people and writes himsel
down as dangerous man to the city,
1t closes with the following sarcastic par
agraph: "It is a pity that such hair
Drained agitators ever attain position t,
do harm in a community. If the mex
mail from the east brings instructions &
foreclose mortgages and stop loans tn
people will have E. 4. Holden to blame
TELLER NOT ALARMED.