Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-08

4 = NNNNN I'AA'NANAi H'A AH'' H' NV ~.
CurrLE CREEE, August o. 1896.
| ssY ~ HREE YEARS
{ !. !. !. !. !. !. !. 4. !. !. !. !. !.
T" r-lsf-sgss, ago Il was a hole
l#tslGel In the side OF the
,G '8bl.l,SlH hin Now Il b.
liz I%tl/HY/ one OF the mos,
| efb23lE MHs famous OF the
| g3IiiI9g|H Cripple Greek
| SYa ~ N>.A,S-.----gold mines, and
- 3N~- the report comes
from New Yor, that dNy-onc per cent
Of t. stock has lust been sold 10 a
French syndicate for s75s ago. The
ame syndicate bought the other forty.
a.ae per cent three years ago Tor $3.50.
goo. ltnow owns the whole mine. aud
| /, has paid for It the enormous sum OF
more than one million dollars. This b
he story Of tie Victor mine. which has
b, more than Two years paid a monthly
Edieni o. sac 600. or two per cent
rsn,h on g capitalization Of sLoo1003.
Enough gold is In sight to keep the
-rem busy at the prcscnt tate lot
-5fe than two years, and NJ WiI prob
iby pay dividends Tor years 10 come.
IHe aock is owned, % ~ said, by
.ulgh farmers and market gardeners,
no arc operating through 70 Paris
hlJc. aud who are enthusiastic over
d, dividends which they have already
itrycd.
wHJED 5000 ASp SHADE oyaR \
MILLION
And still the Victor mine cost MOlat
i5d Smith, the Colorado milliUnaires,
vlo developed 70, only 5000. and they
have until this last ialu been getting
01ehlli OF Dos enormous dividends.
Dave Molat Is COlondo's biggest md.
lgaaifc. Eben Smith. bis mining part.
GEO, 3 also a millionaire. lie b. said 10
Be ihr most expert judge ol mines IN
NE wet lie was riding over the
mouu,liH above Cripple Crcci, about
iour years ego when he passed that
hole DO the ground" Two inexpeu.
tnced miners were working att. They
stopped Smith and asked him to come
and look at their claim. He went oyer
ud cDwlgd down into the hole. lie
nsptc,ed the rock and saw that II con
u.ued q tine vein or orc. lie gTunlcd
little as he got out, as though Il did
90 amount 20 much, and upon the men
aging that they would sell the mine for
$500, be laughed at them aud went
aaaU As soon gs he returned to
Ltalylllc, however he tcleguphsd his
ignH Co ind out whether the partic,
Dad title To the NINE and 10 buy II Il
hty could. They did buy DO, paying
iha oAncIs 5000 cash, with an option
on % lug one year Tor so5col This Is
heWay many mines are bought. The
lebtauding Is that the purchaser
lal q, once put his men IN TO develop
DC mine, and all the gold taken on, up
10 DE amount OF the option shall be
oIg TO the sellers. II In the course oil
some specified time, nine months or a
rear DC ialls to take out that amount or
aye 10 pay IT, the mine with all the
t0'l laAen cur. fcyetts to tic original
.eneN' The Victor mine paid tor u.
Fil nom the start. Within q month
several thousand dollars worth OF gold
paying ofo had been sent to the smel
W. ana long before the year was up
lollAl and Smith, out OF the proceeds
q lhgir ore had received back their
l,eg9, had paid the 10000 additional.
W ule expenses OF putting up their
MoiN aud also some big dividends.
!Ley then capitalized the mine at face
la'le OF $1,000, 600 aud offered TO sell
Ie stock. This was along IN about
''54, wien the whole mine wa, offered
" 'uem Tor sale In New York for ys7o,-
'e3' Tie New York capitalists, loR-
"er were afraid OF il aud Il went beg.
thg. They continued TO develop the
nine, and later on they sold the lirst lot
o. stock At ninety per cent OF its par
value To tie French syndicate, guarin-
Nelhg dividends Tor limited time.
Now they have 9ld the balance Of the
slogk 90 twenty-five per cent above par
cav nave, as ] have said, cleared near
y " million aud quarter OF dollars IN
'sA IMAM four years out OF a single
investment,
PROSPECTING TOR GOLD,
lhe above seems TO be an easy way
o' making money. II represents, how.
ever, au enormous amount OF labor, a
'o"ule invested IN machinery and the
fNNNhifN hNlNAl AhAAl W ANAA W
Y, llinaglng a big manufacturing ostab.
\, ,i,'u'hgnl Some people seem TO have |
'ue 'lea that all that Is necessary to !
he. gold, when YOU have found a mine,
p 10 pu'h wheeloarrow NJ to the /
mountain and dig out the bullion with a |
.'A he truth u an enormous amount |
w Work IN connection with the dis, |
OVER and development Of every good |
.'ne' All over the hills about Cripple |
-'t'h YOU will see piles OF earth. They |
.eh iEe new'madu graves, aud they |
~, I' many cases the graves OF the dis.
ippu'h'el hopes and expectations |
'".y afe the holes OF unfortunate pros. |
i,e,o'a and the huls situated near
, ut,.i are IN most instances the places |
'1l'h loTm the homes OF pflspcct1rs |
'No I'Frl thus when they were trying |
W au IS % rich The whole region sur
oun4'ng the Victor aud other big |
uu'h OF this Cripple Creek region Is
''"- yGnmgd with prnspe tors.
D., 'u'e To Cripple Creek through the
~. canyon vln the Florence and Grip.
... creek railroad We wound In aud
w. NIovgh goEcs. the rcd granite
tnol which rose straight up for hun
'yHs OF feet. Now and then these
10y walls seemed 10 almost touch the
~ q Gear mountain river flowed
''Seku Tue CANYON. and IN these xynll4 at