Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-08-01

his business career int bank. He was flf-
teen years old at the time and started life
as a messenger boy in the New York Ex-
change Bank of New York. A year later
he went to Iowa toraGt as a bank clerk in
Des Meines, and [. twenty, he was cashier
of the Bank of Nebraska, at Omaha. This
was just about the time of the Pixies Peak
gold fever, and Dave Moffat got q wagon
and mule and came out here to find his
fortune. Denver was then too small for
bankers. and Moffat started book and
stationery store. selling. as an old miner
told me the other day, an envelope a sheet
OF paper and stamp for nickel. A few
years later the First National Bank was
founded, and Moffat was made it's cashier
He soon became president, and 1t is through
him that the business of the bank has so
increased that it now amounts to more
than nine millions year.
II was at the bank that I met Mr.
Morat who knows perhaps as much
about mines as any man in the west. He
Is miner. not in the sense of being a
prosrector or of going out into the mines
and working them. He is a mine owner
rather than mine digger. He has the
shrewdest OF experts connected with him.
His prospectors are always on the march
and he relies upon their judgment as to his
properties. With all the millions that he
mas in works below ground he seldom goes
into mine. He buys mines and develops
them on the judgment of his experts, and
his credit is such among the capitalists of
the world that he can command any
amount OF money at any time for almost
any enterprise which he wishes to under
take.
COloradO's New Mines.
During our chat asked some questions
as to the new mines of Colorado. He
replied:
I'VE have never had so many miners at
work here as we have today More mines
are now teing developed than ever before
ana the prospect Is that there will be
steady increase in our gold output. In
1889 we produced less than 81 600 600 worth
of gold. Last year our output was more
than s1s.OO00OO. and I believe that we will
run the figures up to at least $25,OO0,OOO
TINS year This gold comes from all over
Colorado. There are good mines in TWEEN
ty different counties, and we are by no
means dependent upon any one region,
such as Cripple Creek, for our output"
The Cripple Creek Mines.
"How about the Cripple Creek gold?
Will it last?"
Il dent like to predict as to the future
OF any gold-mining REGION" replied Mr..
Moffat Zone is apt to give either too
high or too low an estimate, but the in
dications are that there are enormous
quantities of gold about Cripple Creek.
Inc properties in which I am interested
ana with which I am familiar show that
me camp has a great future. The fact
something like ss,OOO,OOO worth of gold last
year Is strong argument as to their rich
ness. Many prospects are being opened
which promise well and profitable mining
come"
There has been a, great change in min
ing IN recent years, has there not?"
har YES 5, ,s seplied Mr. Moffat: Il came out
was Fixes Peak or bust Denver was
th gold camp. and the greater part of
the mining done was placer mining. Gold
was hrst discovered near Pixies Peak, and
not much thought of That came later.
Now we are having another great gold
era. rms era, however, is not one of
placer mining. 1t is almost entirely a
smelling and a milling proposition. It
comes to some extent through the fall of
SILVER, out more from the new methods
OF the reduction Of ores Until lately it
hardly paid to mine gold that was worth
less than s16 a ton. Now we could reduce
gold that runs s. a ton and still pay
shgnt profit to the miner. The result Is
that vast quantities Of gold-bearing rock
whlch were formerly considered valueless
are now being reworked. There are hun
dreds of dumps in different parts of Colo
Iado containing values which will some
DAY be extracted and which will add vastly
TO our wealth. Abandoned mines are now
being reopened and prospecting is being
done on new basis"
Lots of Gold In the Rockies.
what will be the effect of these new
processes upon the gold supply Of the
world, Mr.. Moffat"'
Ihey will increase it immensely" re-
pied the mining millionaire. "They are al
ready Increasing it and there is no telling
Why. Colorado is just at the beginning of
us mineral development! Only the small
est part or the state has been carefully
prospected and the few spots where the