The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-05

| It has Already Been Felt in Boston and
it and will, in All Probability, Start q
Mining Exchange-An Hands are Look
| ing to the Gold Fields at Cripple Greek
l where More of the Yellow Metal than
| Ever is Eeing Taken Contradictions Of
| a Boom.
| Chicago, Nov 4-The gold mining fe-
yer is coming. Financial Spectators
| declare it will be as epidemic and far
| reaching as was the grip. Contrary TO
| all precedent, it is spreading from the
east to the west. with London as the
| central point. 1t has appeared in New
York and Boston, and a number Of spo-
radio cases have been observed in Chi
| cago. But now it is believed a general
outbreak in this city is imminent.
The governing committee of the Chi
cago Stock Exchange ignored the signs
of the times when it became manifest a
few weeks ago by promptly tabling
resolution to appoint a subcommittee
to investigate and report on
the advisability of listing mining Sc
curities on the board. But within a
week it realized that the gold fever was
spreading and a special meeting was
called and a subcommittee was ap-
pointed to investigate and report. This
committee is composed of c. c. Adsit,
Frank n. Gage, and J. J. Townsend
Their report probably will be submitted
next week. 1t is known that Mr.. Adsit
is opposed to listing mining securities,
that Mr.. Gage is in favor of the innova-
ton, and that Mr.. Townsend is an I'M
known quantity. Should the report be
adverse IL is believed in financial cir
cles a mining exchange will be estab-
lished in this city within a few weeks.
The committee of the Stock Exchange
may visit the Cripple Creek gold dis
trict in Colorado before making its re-
port. although some opposition has
developed to this program.
While London has gone wild over the
gold discoveries in South Africa, the
capitalists of this city, as we'll as of
several other European capitals, are
now directing their attention to the gold
fields of this country, and especially to
Cripple Creek. Their agents have been
f1ocking to Colorado for several months
past, and dispatch to the Tribune
from Denver yesterday states that they
Cripple Creek district
WHERE THE GERMS ARE.
1t is predicted the germs that will
spread the approaching fever will ema-
nate almost exclusively from this dis
trict. AS gold territory it is almost
unknown in the east, although much
less has been published about the town
(which bears the same name, but sim
ply as a wild mining camp. John w.
Prodfit, prominent banker and brok-
er of Colorado Springs, who has watch
ed the development of Cripple Creek
since the first discovery of gold in that
erstwhile peaceful valley, was at the
auditorium last night. He has just re-
turned from New York and Boston and
leaves for Colorado tonight. He said
the gold fever was well developed in The
east and he looks for an outbreak in
this city within few weeks at the far
theSt.
1.-The most interesting thing as we'll
as the most vital about Cripple Creek
he said last night, "is the already large
and increasing output of the precious
mineral. This was, at the opening of
1895, at the rate of 100000 a month.
This has grown until the product from
the principal mines in the district will
reach 81, 600, 600 for October and is ex-
pected to increase for November and
December. The wiseacres and experts
in the early days shook their heads and
predicted that the deposits of gold Dor
ing ore would not be down to any great
depth and many capitalists took this
view and turned aside from investing in
the territory. At that time the veins
were thought to be cash and not true
fissure veins. The contention has been
w "A ~ 4
of the last two years.
Colorado Springs men alone had suf-
ficient faith in the permanency OF the
mineral supply TO stand by the camp.
But most of it's supporters We're men
of small means and development went
forward slowly. 1t was this fact that
gave Cripple Creek the name and fame
of the poor mans camp" The veal
thiest men there today were carpen-
tiers plumbers, and farmers two years
ago. One of these pioneers. who re-
Gently retired with a comfortable for
tune. was. less than a year ago. con-
ductor on a street railway in Colorado
Springs, and an invalid at that. The
mining district of Cripple Creek covers
an area OF thirty-six square miles and
has a population of 10000 people. In
1891 it was an unnamed cattle pasture.
Today ii is the worlds most famous
fissure vein gold district.
CRIPPLE CREEK CHANGED.
at was the last place in the world
that an old prospectOr would have look
ed for gold. Now it is covered with
prosperous towns. and l have told you
of the gold output, which is constantly
increasing. The town of Cripple Creek
has a population of 1900, Victor 5000,
and smaller towns are Anaconda. indie
psndence and Altman. each of which
boasts a pos;ofice. Cripple Creek and
Victor have telephone and electric light
service, water works, churches. schools,
and each supports daily newspapers.
The town of CRIPPLE Creek was founded
in 1891 and is thirty miles southwest of
Colorado Springs. Two railroads now
run into the district They are the Md
land Terminal, which connects with the
Santa Fe Sysetm, and the Florence and
Cripple Creek. which connects with the
Denver and Rio Granie.
''One of the most striking features
connected with the development OF the
district" continued Mr.. Proudfit. was
the independence OF the pioneers Of out
side capital. This was made possible
by the fact that every man IN the DIS
trict who is earning wages. from the
superintendent OF a mine down 10 a
Gish-washer in a miners boarding
house, puts back one half his earnings
in the development OF some property in