The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-03
NEWSOF THE MINING WORLD.
TIE SLUMP IN SILVER PLAYS THE
MISCHIEF WITH COLORADO MINERS.
Denver Shelters Refuse 70 Handle Ore
Many Mines shut Down-The Production
OF Mexican N1ine. Greatly Incrensinr-
No silver Mtper Operntiug In Arizona

Denver sneiter- Refuse 70 Handle Ore
Many Mines shut Down-The Production
OF Mexican Mines Greatly Increasing
No silver Nai.er Operating In Arizona.
DENVER. June 2a-Hoping for o better silver
| market the mine owners have done consider
| able development work this season. but the
slump In silver during the past three days
caused the total suspension Of all development
| work, and many OF the working mines shut
down. At this writing there are 400 car loads
OF ore In the railroad yards OF Denver. and the
smelters refuse to purchase or handle It.
| There being no market day by day for tho
| bullion. the smelters simply had to suspend
purchasing. and conducted the business only
because OF the time and tonnage contracts now
on hand. Buying silver at 80 and selling at ~
| or lower Is not profitable. One smelter last
week bought q consignment OF ore at work
ing charge OF 500. when last year the maxi
mum charge was never more than $40. and
| from that down to premium.
Ores containing gold. silver. lead, and cop
per were refused this week. Even Cripple Creek
gold ores found no market. Such a state OF
| affairs never was known before In Colorado
| and the entire mining industry was paralyzed
| for the time being.
| The inevitable result will be to force the gold
| properties into prominence and stimulate
those mines that show gold bearing ores. AS
| nearly all the silver producers carry gold. the
stoppage OF that output will tend to reduce tho
| supply OF gold The bonanza silver mines
| such as the three Creole mines. the Moie
Gibson and the Smuggler. carry little gold; it
| is the smaller producers that yield gold with
the silver.
| Gold mining in Colorado has been neglected
| ever since the great strike In silver In Lead
VILE in 1870. Though undeveopcd gold dis
| tricts have been known to exist In Colorado for
years. no effort has been made to explore or
open these districts to demonstrate their CON-
| merciai values. One of these districts lies
about the town Of Mancos. in Montezuma
| county.
| The La Plata Mountains form tho watershed
for that entire district and gold bearing
| quartz leads can be traced In those mountains.
| The minernlzed matter Is found in lime and
| Quartzite formation. and where the richest
| bodies are found. chutes or chimneys break
through. In other sections true assure veins
| are found. Mention was made in these COLI
| umns several weeks ago OF the formation OF
company OF Denver and New York men with
| plenty Of funds to examine the value of the
placers along the Mancos. At present sew
| enty-fve men are employed by the company
| to build fumes. and the company will use
! 125 900 feet OF lumber this season. The only
difficulty this company fears is the large boul-
! ders that are found scattered through the
| placers- Besides this placer enterprise. tho
| company is developing four fissure veins to
| demonstrate their worth. The gravel beds are
very deep. and it will require heavy expendi-
| ture OF money to obtain results. The reports
| Of assays ofvein matter and pans OF placer dirt
show very rich gold workings. but nothing OF
| tangible value will be learned from Mancos
until the fumes are COMPLETED. Nuggets have
been found. and some gold. obtained by pr1m-
| tive processes. has been sold.
| Yesterday an old prospector sold in Glenwood
| Springs S21a ounces of gold nuggets and gold
| dust which he says was the result OF weeks
work in n district upon the Grand River. That
district is supposed to DO between Steamboat
Springs and Wolcott station.
Four or five companies with money to build
fumes and sluiceways are working upon the
Four Mile placers near the northern line OF the
State. The sample tests show return OF 80
per cent. to the cubic yard. Water is scarce.
| and Is brought at great expense q distance
The Independence has produced $50 tons OF
ore that averaged $40 ton. and it has n very
Ssa 81 he eis NAY hs
leased for $50 900 and royalty OF 10 per cent:
| unusual activity. and is opening many old
a MIi the Msscotte. at Alma. that gave a
Fod and 81 sysr iris Tch nd is
ilve;inGh streak strike has been made 40 also
man. The camp Of Alma has shown great de-
| velopment work this season. .,
Telluride was in fourishing condition. and
G is fb ss nnS s1e fns
tons daily, The plant is ne largest Of It's kind
has "f been en- established It now, has a news.
make sensation; The town IS named Gold
ths viii aar
sa them sg Silver nss
are all right regardless OF the price OF silver.
| provided there Is market at all
| NEW MEXICO.
| SILVER CITY, June 27.-Since the erection OF
Of tie e' mnes in that county has
| increased very largely and In none ot the
b n the State t S rned whe
| borders on New Mexico. Considerable ore is
| yet exported from Chi huahua to this country.
| but il is from points whore there are no smelt-
quires special treatment Three or four years
from Mexico in very large a uantities, and were
treated In the smelters ct FL Iaso Socorro.
OF this kind Of ore to this country have been
| limited. Within three years a number OF large
haze been built and Pvt int o59pn
Fuel IL high In Mexico. and the cost OF re-
| ducinG ore there Is much higher than II 10 In
| this country. but the duty which was mpOsed
on lead ore by this Government made 1t neces:
sary to reduce this kind Of ore, in Mexico. and
the SIN eli ers on this side Of the line lost largo
and profitable business. Ono OF the largest
producing companies which ships ore to this
pany. u Now York organization, which owns
and operates rich mines and an extensive cat
Ito ranch ut Corraitos. about 100 miles south
OF Deming. The ore which this company pro-
duces is a high grade silver ore which is quite
refractory. This ore IL shipped to Demng. and
there reshipped to smelters. The production
OF the mines Is from $4,000 to $4,000 per
month.
Large reduction works are building at Bato-
pilns whore A. X Shepherd. better known rs
BOSS" Shepherd. In very largely interested In
| mines. The output OF these mines Is consid-
erably larger than tho OUTPUT OF the C9rralitos
| two years when the in prov ements which are
now being made viii be completed. the o1tpnt
these %nes wv be mot ess hna
there is little gold produced in the district.