The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-27

the Cripple Creek region. There are
more than a thousand Of them, and
the capitalization of the new mining
companies Incorporated last year ag-
gregated 5000 100000 The fee which
Colorado gets for each Incorporation Of
a million is 500, and the state received
more than $4,000 last year for incor-
porations alone. 1t is estimated that
capital stock of face value of $500, 600
600 has been hoated on the Cripple
Creek mines within the past year. and
1t is probable that the other new min
Ing companies Of. the state, added to
1t, would have a face value equal to
the national debt.
STOCK BUYING IN COLORADO.
Stocks in many Of these mines are
bought and sold on the exchange.
There are stock exchanges in all of the
mining cities. Denver has two. Grip
PIE Creek two, and the people@of Colo
RADIO Springs speculate so generally in
mining stock that it Is said when you
hire a servant girl there you have to
give her an hour off in the middle of
the day to attend to her stock specula-
tons. With stock selling at one cent
a share. such girl could buy 100
shares for dollar, or. if she had re-
cefved her monthly wages, she could
perhaps, buy thousand shares of
these one-cent stocks for $40. The
mines are capitalized in this way.
largely as result of the hard times
A great deal Of the mining done now
is by combination Of small investors
and in case one-cent mine turns out
we'll the investors realize largely Of
course, most of such investments are
gambling, and large proportion Of
those who invest in them take the
stock as flyer" many not even
knowing anything bout the mine which
they are buying. One of the shrewd-
est mining capitalist In Colorado said
to me the other day:
Many Of the tenderfeet who come
cut here seem to want to be hum
plugged. They don't investigate the
properties in which they buy stock.
and they don't seem to want legitf-
mate mines. Their sole care seems to
be whether the stock Is cheap or not,
paying little regard as to whether it
is good. Some Of them want to buy
gold lands by the acre, and, In fact,
large part of the speculation in Col
orado mines this year has been fos-
tered by real estate agents. You see.
Denver has been very dull Turing the
hard times, and the real estate men
We're almost starving when the Grip
pie Creek gold fever brought out
tnas time they left Denver and went
20 Cripple Creek, and bought land by
the acre near the mining camps and
capitalized It. At the same time the
country came in
''They went through the ceremony of
digging holes, called them mines and
stocked them. They took their stock
books home with them and filed them
out ad libitu1n. They sold their stock
at few cents a share, and in many
cases the buyers are still waiting to
hear further from them. The truth ia.
the man who believes in guarantee of
81 out Of one-cent investrn is a
fool. There is chance for such an oc-
currence, it is true, and 1 know that
there have been many instances Of
this kind in Cripple Creek. I know.
for example, one man who bought
Portland stock when it was 31a cents
a share. He invested $400 in it. and
when he sold the other day he cleared
$4,000. I know Of other fellows who
have put $400 into other stocks. and
whose stocks are not now worth more
than the paper on which they are
printed. Buying cheap and unlisted
stock is like gambling in Monte Carlo.
The chances are almost altogether
against you"
THE MOUNT PIsGAH sWINDLE.
And still you can never tell where gold ia
until you find 1t. Some of those one cent
holes may turn out to be worth fortunes,
and 1t may pay you to invest in some Of
them if YOU will take the preliminary stsus
which I have advised at the beginning of
this Letter to find out as to whether they
are offered by reliable parties. The best
part OF the Cripple Creek region was once
sold for $7.5G0, and only about six years
ago there were thousands OF miners wan
dering over these gold fields which are now
producing milliOn dollars month ana
cursing the authors Of the famous Mount
Pisgah swindle. Mount Pisgah is only a
few miles from Cripple Creek. You can see
it from almost any one OF the famous
mines Of that region. 1t was at thar time
the center of a gold excitement brought
about by two swindling prospectors. These
prospectors dug bole in Mount Pisgah
and sailed the mine, a. it is termed bv
bringing rich gold ore from other PARTS of
the state and buryins It In their shaft.