The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-08
CoLORAD0'S GOLDEN ERA.
THE YELLOW METAL Fairly
POURING FROM THE NOM
TAINs.

the New BOOm-The Product seems
IneNhaustibIe-Many Wen Have BE-
come Enormously Rich Within
Yenr-Where the Gold Fields Are
and What They Have Produced.
From the New York Sun.
Denver. Nov. 25-A golden era has
dawned upon Colorado which will proba-
bly, eclipse the wonderful development CT
mining in Colorado resulting from the dis
coveries of lead carbonates in Leadville
in 1879 and continuing until the slump of
silver in 1893. The present condition indi-
ates a most hopeful development Never
in the history Of the state has so much
valuable work been done as during the
closing mining season. To-day Leadville
and Aspen, the two great silver camps,
are shipping a greater tonnage of precious
ores to the reduction works in the valley
cities than ever before in their history.
and there is scarcely a known camp i'm
the state which cannot show a greater
output from its mines this year than dur
ing any year since their discovery.
The knowledge of mining has been ad-
vanced in many ways. Fifteen years
ago practical mining men were few; to-
day an army of practical miners have
been educated. They understand how to
prosecute work in mining territory 10
the best economic advantage. Methods
of ore reduction have been extended and
cheapened: methods of mining have inn
proved: the application of electricity as
a motive power has made formerly UNI
profitable property yield a fair revenue.
A golden era is now predicted conf
IDENTIFY.
Foremost among the fields is Cripple
Creek, which now has a monthly output
of Sl,O00,O00 in gold. This district has
population of 5000, and the daily scenes
of the camp remind the old-umer of the
booming days in Leadville in 1879. The
district for an area of six square miles
presents a spectacle unprecedented in
Colorados mining history. on every one
of the several rounded hills shafts are
sinking, steam hoists are pulling vapor
into the clear air, men are digging
trenches to find the outcropping veins of
gold ore, and teams are hauling TO mar
ket sample lots of the well-proVed rich
ore of established mines.
OF the developed mines the first in inn
portance is the Independence the property
of w. S. Stratton, until few months
ago practical carpenter and visionary
mining prospector. This mine has a shaft
800 feet deep, with levels beginning at
each 100 feet of depth. The ore was
mined in the shaft as il was driven, and
amounted from $4,000 to S2J0000 per
month. The ore has paid for the mag
commodious shaft house, has betrayed all
expenses, and has given the owner "A bank
account that has been sufficient to make
him Independent for all time Stratton has
steadily purchased other properties until
he is to-day the largest holder of valuable
claims and mines in the district, and is
the prospective CrOesus of Colorado. He
has as yet got out the rich gold ore from
only the upper level. leaving the ore be-
tween the first and fifth levels a distance
of 400 feet. to be taken out at his convent
a-s a-ff faI hot Naaaa
in his mine is worth $500, 600. while the
ore below the 500-foot level is yet to~be I'M
covered. Stratton has never placed price
upon his mine, and declares he never will.
The mine is easily and economically
worked, and the ore is so rich that a few
tons day means revenue which is be-
consume. 1t has already become a prob
lem TO Stratton hoy to dispose Of his
Probably next in Importance Is the
Portland. This property, after several
years of litigation over the title to sew
eral of the claims included in the com
pany's present holdings is now intact as
TO title. and is yielding a princely revenue.
1t is stock company capitalized a 1900
900 shares of par value of 81. The COM
pany owns fourteen claims, aggregating
over 100 acres of patented ground and has
/ already paid over $250,O0O in dividends.
! The company is building an immense
shaft house upon the property, and will
expend $4,000 in improvements before Jan.
]. The company employs 1886 men. A
year ago the Portland owners had less
than $l,OOQ in the treasury, but they have
settled with adverse claimants, paid the
costs of expensive lawsuits built inn
| provements. and have developed the mines
on their property out of the yield of rich
ore veins found on the premises. The
company has paid off 100000 indebtedness.
! declared several dividends paid for wages
about $4,000 a month, and still has money
! TO spare. Messrs Burns. Doyle, Barnan.
and Stratton are believed to be chief
holders in Portland stock. During the
| years OF litigation much of the stock was
/ peddled around Colorado Springs at very
! low prices. 1t is this loose stock which
is now being traded for upon the mining
exchanges The main shaft on the prop
erty IS over 400 feet deep, and the ore has
been continuous and increasing in rich
ness with depth, over 81, 100000 wort n
OF ore is now available in the mine and
urlIts, ana further development only adds
to the promise of future richness
The Victor is one of the Oldest mines in
the camp with deep shafts ana drifts
opening up the entire ore body. This is "a
stock company, and much Of the stock
has been sold in London and Paris dur
ing last year. Dividends of 81. 600 a month
! are paid regularly. a recent shipment
| of 800 tons was made to the cyanide works
| in the camp, and it is the expectation of
| the superintendent that this will net the
| company $4,000. One lot of five tons
yielded $1,000. The ore continues to show
more surprising richness with develop
ment.
The Anaconda, with a capital of 81 00a
coo. the stock now being quoted Though
but little offered), at Is cents, owns twenty
claims. aggregating 145 acres Of mineral
property. This is property where the
! ore can be quarried at the surface. with
| millions of tons in sight. The ore is low
I in value. but a process has been found
! which, the management says, will Yield q
/ handsome profit. A large reduction plant
/ is now building in Florence, near the coal
and oil fields to treat the Anaconda ores
| and when the works are completed shin
ments will begin. 1t is upon the promise
| of the result of the reduction process tina n
! Anaconda stock is held. and the predic-
| ton is made that the stock will go to
par.
During the present summer much of the
| Cripple Greek property was DEVELOPED un-
! der leases. The Northumberland Com
| pany capitalized for 100000, leased dur
| ing the summer one of its claims for a
| small sum. The lease was afterward
bought by Black Hills miner who aid
not have a cent to pay down, but took il
upon an agreement to work the claim and
pay for the lease if he struck mineral.
| The lease has yet seven months to run,
and since the mineral was struck the com
pany has offered 5000 for the surrender
of the lease. The shaft is only 25O feet
| deep, yet he tonnage already Shipped is
netting the fortunate holder of the lea Sc
a handsome revenue. When the compa-