Pike County press. (Milford, Pa.) 1895-1925, 1896-01-31
A COLLAPSE COMING.
THE PRESENT MINING STOCK sPEcU-
LATloN WILL RUIN MANY.

However, Stocks Are stIl Absorbed -
Rapidly as They Are FIoated-New Min
ing Exchanges sprlnsing Up All Oves
ColoradO-ActIvity at Cripple Greek.
A collapse is the inevitable conclusion
n be predicted for the present mining
stock craze. Cautious Colorsdoans are
already asking when the crash will
come. They think it is not far of. They
cannot understand the strength Of the
present movement, for stocks are still
absorbed as rapidly as they are floated.
One day last week in Colorado Springs
a brokerage company sold out four -flfths
of the treasury stock Of a new Cripple
Creek prospect company in a minutes.
On another day of the week they re-
ceived S33, 900 from the sales of stock of
another new company. One day last
week in Denver the announcement was
made that a certain mining company had
filed incorporation papers. A prominent
mining investor was named as one of
the incorporators, and the demand for
stock was so great that it was all sub
scribed in one day. Another Denver
btiOIb fbuhu VI bAO heo
been discovered upon any of its claims,
was compelled to advance the price of
stock to 90 cents to prevent too much Of
the stock from going upon the public
market The managers of another com.
pany regret that they permitted too
much stock to be thrown upon the mar
ket a month ago, for since that time
they have leased a property in which
they have found very valuable ore, and
were it not for the amount outstanding
the stock could be forced mp to 90 cents
or better.
The brokers who are plunging deeply
into the stock business by having leased
wires between Cripple Greek, Colorado
Springs, Denver, Kansas City and Chi
cago are seriously handicapped just now
by the extent of their buying and selling
orders from the east. 1t is no unusual
thing for a telegram to come in order
ing the purchase of 200, 900 or more
shares at the market price. While 1t is
difficult to fill such large orders quick.
ly, it is next to an impossibility to sell
again in such large blocks. The local
markets are nervous, and as the pur
chasers of most of the stocks are people
of small means who are holding for
short profit any decline starts an incipi
ent stampede. Sales must therefore be
made in lots of a few Thousand shares
That schemes to defraud are being
formulated no one can deny. The in
quiries made in Cripple Greek by stran
gers for prospects anywhere within
radius of ten or more miles indicate
that some wildcat companies are to be
organized. 1t is not necessary to incor
porate in Colorado, and therefore it is
beyond the power of Colorado people to
protect innocent investors from such
schemes.
Mining exchanges in the state are in
creasing in number. They are being
formed in the smaller towns, while in
Colorado Springs, Cripple Creek and
Denver the number of brokers has fast
become a veritable army. There will be
a mighty crash when the collapse comes
and the settling up day shall arrive.
West Creek becomes a permanent
mining camp, for sylvanite, the ore
which made Cripple Greek, has at length
been discovered in the 20 foot shaft of
the Hoosier claim in that camp. It is
asserted that a central vein has been
traced across the country from Tyler
through Pemberton, West Creek and
Woodland Park, almost to the town of
Cripple Creek. This would give con-
tinuous orefeld where mines may be
located for more than 40 miles through
the mountains.
A coal dealer living in Denver was
compelled several years ago to take a
deed for 160 acres Of land in payment
of a debt of $3.50. A few days ago he
had an offer of $25, 900 for 40 acres of
this land, which he accepted. After the
sale he was told that the 40 acres lie in
the heart of the West Creek district.
Last summer free gold was discovered
in Newlin gulch, 30 miles south Of Dem
yer.
This week the property was transfer
red for $40, 900 cash and $3.50, 900 in
bonds to a company which proposes to
operate placer mines. 1t is estimated
that the ground will yield from "a. 80
to IS per cubic yard.
In Cripple Creek a number of new
companies are adding to their holdings.
Fifty acres have been added to the
property of the Humboldt Consolidated,
making total of 200 acres, and strike
of rich ore is reported from the Gamma,
one Of their claims.
The annual report of the Isabella Gold
Mining company was made recently.
The gross value of the ore product for
the year was $362, 220, netting profit
at the mine of $3.50, 456. The average
net value Of the smelling ore for six
months was $62 per ton, and for the last
six months of the year e121. The COM
pany has a surplus of s157, 116 in the
treasury.
The final payment has been made ON
the Christmas on the southern slope of
Bull hill. A short time ago 5000, 900
was offered for the property; the pres
ent owners paid but $21 300 for this
mine. The best ore runs 90 ounces to
the ton.
There is no longer doubt as to the
discovery of silver lode veins in the
Hahn's Peak country. near the Wyoming
line. The Hidden Treasure, at a depth
of 100 feet, has opened up six inch
streak of mineral which assays 500
ounces in silver.
The town of Saw Pit, in the San Mi
guel district, has now 200 people and is
growing every day. The recent sales of
three properties in the gulch at high
price have attracted attention to this dis
triot. -Four properties have already
shipped ore To the smelters and a dozan