New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-24
ly UNUSUAL ACTIrITY IN GOLD-MIyING.
A p MEEKER DESCRIBES THE GREAT ENTER
PRISE THAT HAS SUCCEEDED THE RE-
! crNr pI,s1NESS PANIC IN COLORADO.

p MEEKER DESCRIBES THE GREAT ENTER
PRISE THAT HAS SUCCEEDED THE RE-
CENT BUSINESS PANIC IN COLORADO.
r-,on the closing of the minis OF India to the free
co,nape OF silver the State OF Colorado suffered
severe panic and many Of Ter people thought that
s,m greater disaster would follow the repeal of the
silver purchase clause in the Sherman act Ihesr
fears while not justified by the seque; caused
grea. revival of activity in prospecting for gold In
the production Of which Colorado has always oeeh
an important factor. though OF recent years her
silver mining has assumed such prominence as
rather to overshadow that of the yellow metal
I'VE are on the eve Of a gold BOOM" said A. B.
Meeker. explaining the condition OF ahairs 10
Tribune reporter Yesterday Mr.. Meeker is well
known in Chicago and New-York. and has large
Interests in Cripple Creek, Colorado where at pres
ent there is great excitement between the miners
and their EMPLOYERS over the readjustment or wages
resulting in a serious strike. referring 10 this
region Mr. Meeker declared that he would not De
surprised IL the production of gold there which
amounted to $4,000 in 1892 and $2.405oW in 1873
should rise 10 more than double the last-named
amount In 1894 At the end Of 1892 there were oniy
FIVE steam hosting plants in the entire district while
on January /, 1894. there were twenty-sM IRIS
percentage Of increase will fully hold its own Tor
the current year. The collapse Of silver, SAID MI
Meeker. threw 10000 men out OF employment In COL
orado alone. and other llver-producng regions
"
energy and enterprise Of the people Of the mining
regions Of the West have been directed toward tne
discovery of gold and the invention of cheaper neh-
DDS for the reduction Of gold bearing ores.
In the Cripple Creek district declared Mr. MeeRer
new mining companies have been Incorporated WIN
an aggregate capital Of several millions or dollars.
and he added that among the men interested IN
gold mining In that region ID. II. Mofat. presi
dent OF the First National Bank of Denver; j. J.
Hagerman W. T. Bonbright Of Philadelphia ". i.
Fisher of ew-Haven. and many others. chicago
capital Mr.. Meeker asserted, being attracted
10 the new mining camps. j. Il. McFatrich, one OF
tie directors OF the Masonic Temple Association
vas president Of the Chicago Cripple Creek Com
Iany with capital stock OF 100000. and H. o..
Lant son Of OrringtOn Lun was secretary OF Ine
Union Mining Company, with a capital OF slZtoVVV'
II said that a good many millionaires were H.
krested as stockholders in many OF these companies:
Application had already been made TO list many OF
the stocks OF Colorado mining companies on the
Chicago Stock Exchange. and 1t was predicted 10y
many that Chicago would witness a repetition OF tue
mining excitement which followed the silver Doom
IN Leadvile fifteen sixteen years ago. -
The Tribune reporter Informed that President
Moffat, OF the First National Bank OF Denver. pre-
cicted that there would be J0Q men In the Grippe
Creek region by August ]. OF great Importance az
affecting the future growth and prosperity OF TINS
region. Is the wonderful increase In facilities ior
transportation assured SO far such faciitles
have been imperfect Three prominent railway ines
VIII soon have extensions Of their roads built anu
completed into this region in order that they may
secure the trafic that now awaits them there.