The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1896-03-19
THE CRAZE FOR GOLD
CONDITIONS RIPE FOR THE GREAT
EST FRAUDS OF THE CENTURY.
Cripple Creek tho Great Center of the
Frenxy-Mining Experts Give No Warn
ing-Richest Gold Camp on Earth, but
Claims Should Be Examined.

Claims Should Be Examined.
| have Just come from the great camp
at Cripple Creek, where 30, 900 delirious
people are swarming on the hills and In
the valleys with gold in their heads, gold
In their hearts and gold in their veins 1t
is scene of breathless excitement. The
discovery of gold In paying quantities has
converted the whole region into vast
gambling house. Every train is crowded
with adventures, men who want to get
| rich in day. Even as I write these lines
word has been received that hundreds of
| poor men are on their way from Chicago
4 and other cities without the slightest idea
that they are going to a desolate region OF
snowclad mountains nearly 10000 feet
above the sea level, where there Is scarcely
any prospect of living except for those
who have money to invest or practical
knowledge and experience to apply.
/ Unless something is done to check this
fever, which is spreading all over the coun-
try, Colorado will soon be crowded with
paupers and criminals. There Is little
chance in Cripple Creek, except for ex-
perienoed gold miners and men who have
capital to invest in honestly developing
the porphyry belt. All others had better
stay at home.
rode for five hours over the gold hills
/ In the teeth of driving storm, and still
could see in spite of the white whirlwinds
whistling over the ridges Of pines and as
pens, hundreds of weary men picking at
the hard hillsides in the drifting snow,
and on all sides thousands of empty holes,
outs and trenches-the graves of the hope
of multitudes who long ago abandoned the
place after months Of toll. exposure and
starvation. Yet the big camp supports
&c, 900 people, and at least 5000 miners
are getting their living out Of the ground
today.
| As I hurried along from mine to mine
encountered double teams dragging pom
derous wagons loaded with gold ore down
the hills toward the railway. The wind
rose higher and roared up the vacant val
leys. The snow fell faster and thicker.
| But the gaunt, fever eyed prospeotors
stuck to their holes and trenches, digging,
digging, digging down to the seams and
assures In which the mineral bearing wa
ters foamed up ages ago from the interior
of the earth and left their riches incrusted
In layers of hardened mud among the up
heaved rocks of the great volcano and its
geyser vents.
Day after day wandered among the
hills, talking to miners as they came out
Of the shafts and tunnels. watching the
sorting of ore in the shafthouses, chat
ting with the prospectors, sometimes &c
companied by a working miner and often
aided by distinguished mining expert.
Since then have seen the dividend checks
of many mines, the return sheets from
smelling works and ohlorination mills,
and 1 have even been able to trace out
bank deposits. The result of all this work
Is firm conviction that Cripple Creek Is
one of the greatest gold mining camps in
the world, and that 1t is the only one
which has been developed to such an ex-
tent by poor men.
| But the reckless stories of its riches
which have been spread broadcast In Eu-
rope and America have turned the heads
of investors, and it Is almost as easy now
to dispose of a semiworthless ten acre lot
as a real mine. Cripple Creek Is turning
out many a millionaire and the difference
between the millionaire Of Colorado and
the millionaire of Wall street Is that one
produces wealth without injuring his
neighbors, while the other preys upon his
fellow man.
The speoter in this scene Of honest toll
and sudden prosperity Is the man who se-
cures a piece of ground, or perhaps lease
upon it, or an option to buy it at the end
of few months of prospecting, and
capital stock Of million or two million
dollars and unloads the shares upon the
too willing public, even II he gets but q
few cents share. And although the pros
poets of the mine may be merely problem
atical or the title insufficient or condition
al, although the treasury may be empty Of
stock or funds for developing purposes,
the public will buy because the stock looks
cheap and the position Of the claim upon
the map is alluring.
Not more than Is or 90 of the compa-
nies having stock for sale have registered
their shares with bank or trust company
to protect buyers from an overissue, and
In the case of the Golden Dale mine, which
has 1900, 900 shares at a par value Of 81
each, there was an overissue Of 400, 900
shares 1t is true that the men who make
mining business have done much to pre-
vent frauds upon the public, but the field
is SO vast and companies have multiplied
30 thickly in the past few weeks that moth
ing but the glare of a thousand searchlights
In every financial center and the vigilance
Of stock exchanges throughout the world
will prevent swindling upon a gigantic
SCALE
Two or three nights ago brisk little
man arrived at Cripple Creek from New
York. "I want to buy some very cheap
olaims," he said. "I 1m anxious to get
some lots right of.
After few hours he found miner who
had five practically worthless claims in q
region many miles from the camp. The
price was $500 and 80, 900 shares in the
company which was to be organized. The
New Yorker looked at the claims on the
map, saw that their position would sup
port him In good deal of plausible talk
about the splendid chances Of finding a
mine so near to Cripple Greek, and without
further investigation ne paid the money,
gave the guarantee for 80, 900 shares, pook
eted the titles to the claims and took the
next train for the metropolis. Can any
one doubt the purpose Of this transactionf
A new company will be formed, a glowing
prospectus will be printed, with hand
some map showing the position Of the COM
pany's magnificent mining properties not
far from the greatest mines in Colorado,
the organizer will tell enchanting stories
of how penniless adventurers in the hills
have been suddenly enriched and stock
selling at cents share has suddenly shot
| up to 81 upon the discovery of rich chute