The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-21


done.
Cripple Creek. Colo. Feb. 1s.-(Spe-
cial orrespondence.l- probably more
people are inquiring about Cripple
Creek, both as to a place for profitable
investments and as a lucrative bust
ness point than any other known point
in the world. The condition of the
country exaggerates the number of
persons who are anxious 10 better their
condition. Taking all things into con-
sideratiOn. the thousands Of places
that viii each contribute some popula-
ton to this place and it is an easy pre-
diction that Cripple Creek Will be
overpOpulated and overdone in bust
ness way and that the beginning of
next month will find many disappoint-
ed people here. This is not the fault
of Cripple Creek, but the abuse of its
prospects and opportunities. care
not how rich the mines prove the bust
ness opportunities here are limited.
II must be borne in mind that this
is a mining camp, that the business
must always be retail and that manu-
featuring and wholesaling will be
practically unknown. There may be
some jobbing trade and some smelling
and ore reduction works here, but this
does not change the proposition that
Cripple Creek cannot be a manufactur-
ing or wholesale commercial point. 1t
has been suggested that the mines are
very rich and that last December
than million dollars was taken from
them and that this ought TO support a
large population. 1t may be conceded
that the mines are rich, that the figure
for DEFENDERS production is not over
stated but it is not TO be lost sight of
that this vast production came from a
few mines like the Portland, Independ-
ent and Victor and that a large part
of this production is profit, which goes
TO the owners who live elsewhere. So
the aggregate mine production, a good
thing in its way, may lead to false con-
ditions. Now if this place is 10 be but
a retail point and everything argues
that way-it has no cheap fuel, no raw
material, no country tributary, no
railroad facilities to name, and the
most exorbitant freight rates-then
the town has its commercial limita-
tons. While one may not guess just
what mining camp may come TO and
may not be comparing one camp with
another come TO a very correct judg-
ment yet he may approximate the fut-
ure by the light of the past. 1t IS
urged that this camp shows more
mines that are rich than any camp on
record, that to this, producers" are
being constantly added and therefore
this camp cannot be compared with
any thing in history. Assuming this
to be true (and from the best Informal
ton il seems to be true) and yet the
business of the town has IT'S limits. and
if for example a hundred men should
come here with stocks of dry goods it
is easy TO see that this would be a
business catastrophe. How many men
in the various lines of business are on
their way herein fact already here
looking for a location-I do not know
but that this number with the con-
comitant high rents promises business
stagnation if not disaster, is a predic-
ton that future events will surely
verify
The business that seems to be the
most profitable is the combination Of
liquor selling and gambling. These
people pay the highest rents and have
the biggest crowds. The Branch and
the Turf on opposite sides of Bennett
avenue. accommodate a constant
crowd between them of from 800 to 500
persons, of course they don't all play
and drink, but enough to keep the
games open til II at night In many
instances day after day the same per
sons toy at the game that for days has
played them false, in the hope (tOo Of
ten vainD that fortune will favor them
If they peTsevere, or that the place to
find your money is where you lost it,"
The greatest number of people who
come here have in view Investments
mines. mining stocks and real estate.
wherefore if one could prove an oracle
upon Cripple Creek investments he
might find many 10 call him blessed:
on the other hand, If he direct money
into those places, like the tomb Of man
from whose bourne none return" as
well might he have the brand of Cain
upon him. The truth is, il is almost
impossible to direct one In the way of
safe investments in mines and min
ing stocks. There are in the neighbor-
hood Of thousand stock companies in
the district, most Of which will never
amount to shucks. Very many that
may be honestly managed will prove
worthless. the lode never developing
into anything more than a prospect"
Then there are others that TO make a
showing acquire patented property
and declare dividends all for the pur-
pose Of booming stock. There still
be others, representing good property.
that when a rich lead is struck the
matter is kept a secret, work stops till
such time as the outstanding stock
can be bought in at a nominal value
when the whole thing goes forward
with rush, the stockholder regretting
his sale. not realizing the fact that
there was system in freezing him out.
There are honest stock companies and
those that are organized 20 catch the
few dollars OF the smallest invest
or. This seems 20 be the only way the
small fly can get interester n a
mine-Toy buying stock. And II may
be added that the chance for loss Is
better than gain. Even the
good stocks have not been profitable
investments IN the last six weeks-the
money being made by buying under
the market II Is hardly probable that
mining stocks viii boom until some
thing tang Iole happens in the affairs OF
the various companies 10 justify u
As 70 speculation n mines. outside |
the good producers that same unceT- |
tainty prevails The best mines are
and sold ard IN this way are |
practically safe investments. But this /
takes a large sum Of money and as the \
small investor cannot buy such prop ]
srty he must deal in leases or pros
c-cts. As the limits OF the district are 4
no; known there are all kinds OF pros
poets. ranging IN value from nothing 4
~. located all over the country for I
ten miles or more around. Thus IL may /
D easily concluded that most q these
mining claims viii prove Of 10 value
While some VIII prove 20 be valuable.
wherefore Il follows that buying min
ng claims = a lottery: good indlca-
ion may mislead while a shaft may