The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-13
CRIPPLE CREEK MINES.
The Output OF the New Colorado
Gold Fields.
Some Valuable Information About the
Operations Of the Owners and Pre-
iectors of CIaims-Stock
Specializing.

Cripple Creek. so far ~ is now
known. embraces little area with q "a.
,iins of not more than three miles. II
contains. all told, perhaps eight or ten
square miles of ground. This at the
outside world yield 600 or REQ full claims,
On these there would be possibility,
l do not say probability, of finding
veins rich enough 20 bear the cost OF
working. There are in the district, SO
ear, some 1900 located claims. You
may Judge of the probable value of the
most Of them.
Of these $4,000 claims of course the
many are merely fractional. About
1900 are patented, and have title estab-
hshed. OF these 1900, 200 are shipping
ore. In other words, there are 10000
odd claims in the district that so far
rs developed are practically worth
nothing at all.
To put the matter in another way,
upwards of 900 companies have been
organized thus far to operate in the dis
trict. and dozens more are being put
in the field each week. OF these goo or
more companies about six per cent, OF
so or so in all. own producing mines.
And of the latter but IL of Is are divi.
dend-payers.
OF course, in the clever and seductive
circulars which the countless mining
brokers scatter broadcast, you will read
of this or that company which will be
a dividend-payer the very next week
or the very next month, or something
like that, and whose stock may be
bought now for song, and later be
worth par. And they point to numer.
GUS instances-to such splendid mines
as the Portland, for example. Just a
year ago stock in the Portland was SELL
ing at 40 cents, and now it is some
where around 200. and paying a divi-
dend of u per cent on its value. There
are number of such instances as this,
SO that it Is slight wonder that people
should lose Sheir senses and invest in
all sorts OF worthless and wildcat"
schemes that are thrown on the
market. But if you will recall TO mind
that the gold kings of California did
not make their money mining in the
hills, but by manipulation on the stock
exchanges, you may perhaps conclude
to keep your money in a safe place. !
do not mean that all of the stocks Of
fered on the exchanges of Colorado are
worthless, but 1 do mean to say that
most of the companies that are being
foated or offered in the east are the
sort that have no standing, or will
bring in Colorado nothing like the price
asked for them east. 1t is fact that
more money is always spent on the
claims next adjoining a bonanza mine
than is ever taken out of the mine it
self
In Colorado, OF. for that matter. all
over the mining west, they divide mine
owners into producers and consumers
Into the men who put money into a
mine and the men who get money out
of it. The meaning of this is that min
ing has come to be business or a sci
ence which requires skill and training,
and technical knowledge, and the same
amount of shrewdness and ability
which is required for success in any.
other line of trade. There may be
greater follies than for an eastern man
to put his money into Colorado gold
mines. Just at the moment 1 think of
one-that is, specializing in mining
stocks.-Harper's Weekly. r.