Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-27
CRIPPLE CREEK CRAZE.
Conditions Ripe for the Creates,
Frauds of the Century.

SondstOns Ripe for the Greatest
Frauds of the Century.
From Sta Correspondent of the New York World
Colorado has gone stark mad over the
Cripple Creek gold mines, and a point has
| now been reached al which ten-acre claims
on the stony mountains, anywhere within
district of eight square miles, are valued
at from $4,000 to $4,000 as mere prospects.
The world has seldom looked upon such
spectacle, and the conditions are ripe for
the greatest fraud of this century. Dis
| tingushed mining experts, to whom the
public has right to look for protection,
refuse to denounce trading in barren gram
lite rocks at preposterous prices, because q
few experts, puzzled by new geological con-
ditions in the camp, condemned the whole
district three years ago. As it is today,
they would rather remain dumb while mil
lion-dollar stock compaies are organized on
the basis Of ten-foot holes than take the
risk of even a possible error In Judgment.
This strange and misleading timidity,
combined with the riproaring enthusiasm
of miners who have already made millions
of dollars out of the legitimate mines, ard
are drunk with enthusiasm enables any
rascal who chooses to come into Colorado
ard secure a worthless claim anywhere in
the neighborhood of Cripple Creek to sell 1t
at a high price in the eastern states, or in
Europe, without fear of exposure.
A year ago the selling price of the total
stocks of Cripple Creek was in the neigh
horhood of 5000, 600, and at this moment
the stock values are not far from S20,000,-
600. Perhaps this is not too large a figure,
considering the fact that there is indisputa-
BILE evidence that the combined mines are
nCw producing ore at a rate Of SSb0,Otp0 or
100000 month.
But the real output is confined to a few
sfafts. and after an exhaustive and i'm
partial investigation of the whole subject,
1 am satisfied that out of the 800 or GOO
companies already organized under tho
laws of Colorado not more than 100 are
founded upon actual mines with real values
in sight
1t is true that Winfield Scott Stratton,
the poor carpenter. VINO now owns the In
dependence mine, and has refused within
two weeks to sell 1t for $5.0OO,GJO, is in
of his shafts in new claims but Mr. Strait
ton ia gambling with a full knowledge Of
the game, and with the assistance Of q
large STAFF Of mining experts. who are on
the ground and are familiar with every
foot of 1t. Even under these conditions,
Mr.. Stratton admits that he is gambling
There are no gamblers like professional
gamblers, and there is no folly like the
folly of a practical miner in the first flush
of success. Having won once or twice, he
will invest his money and labor In ground
at which he would have laughed week
before, and the unfortunate outsider Is
thus led to stake his money upon the mere
toss of a penny, with the idea that he is
engaging in a mining enterprise.
nave just come from the great camp at
Cripple Creek, where 10000 delrious peo-
pie are swarming on the hills and in tho
valleys, with gold in their heads gold in
their hearts and gold in their veins. 1t 10
a scene of breathless excitement. The dis
covery of gold in paying quantities has
converted the whole region into a vast
gambling house. Every train is crowded
with Adventures men who want to get
rich in a day. Even as / write these lines
word has been received that hundreds Of
poor men are on their way from Chicago
ard other cities, without the slightest idea
that they are going to desolate region
OF snow-ciad mountains nearly 10000 feet
above the sea level, where there is scarcely
any prospect of a living except for those
who have money to invest OF practical
knowledge and experience to apply.