New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-21


the three by -ve-mile belt would strike ore This
is true perhaps. literally, but practically most
dangerous mistake An assay, very promising II
obtained near the surface on a well-defned vein
is frequently worthless for the Plutonc granite
Itself carries from trace to s..
GEOLOGICAL FORMATION.
A brief sketch will convey some idea OF the fon
nation. The central pol ton OF the district is the
site Of volcanic eruption apparently OF the Mo-
Gene period Through the primary granite large
quantities OF tufa and breccla We're thrown I'M
probably by several vents. The explosive yio-
lence Of these discharges disturbed the deposits Of
matter previously elected and, in many places
also breccia ted the granite itself For consider.
able time these outbreaks continued. finally chok-
Ing up the vents. The consequent increasing
pressure below then caused the extension through
the granite and everything brecc.a of series Of
long and roughly parallel dikes These bikes
came up through assures partly opened by previ-
Gus CONFUSION, partly by the pressure which
served TO FIJI them. They probably capped the
surface TO a very considerable extent, though the
overflow has now been largely removed by
sion The bikes are composed mostly Of phono-
ltes. audesite, rhyolite and porphyry, with some
diorite dabase. Formed after these. one finds
the assures subsequently filled by deposition Of
vein matter. frequently cutting the breccia and
dikes as the bikes In their turn cut the granite
and Drecca. Many Of these veins are largely
formed by replacement Of country rock along
planes of faultng Deposition Is also found in
shrinkage cracks of bikes and along their con-
tact planes left permeable on cooling The most
important vein matters are silicious or talcose.
The ore is not uniformly distributed in the veins
and bikes. but occurs in chutes and courses, gen.
orally Of southerly pitch. down and along the
assure Along lines Of brecclatOn. also, the cOun-
try rock is not nfrequently replaced by bearing
mineral The gold occurs in several forms, least
commonly free milling. the surface
usually as oxiiZed tellurdes and at greater depth
almost wholly tellurides of which sylvanite r
most frequent Pyrite In this camp rarely beare
FACILITIES FOR TREATMENT OF ORES.
Cripple Creek has been most fortunate in
facilities for treatment Of its ores. The rail-
road placed IL in easy communication with
Denver samplers and smeters. Other plants
early sprang up in Colorado Springs. Pueblo
and Florence, in addition to which there are
now eight in the district. The latter princ-
paly extractors handled last year over $780,
900 worth of ore Most % the here has to
be treated by teaching out the gold with chlo-
rine or potassium cyanide solutions. Some Of
the higher grade ores go to the shelters and a
small proportion 10 stampmills Great credit
Is due those who overcame. by persistent re-
search the difficulties presented by low-grade
teuoride ores much improving the process
that IS 80 ton covers charges for treatment
and freight from any rail point in the district.
Every one OF these plants is working day and
night at it's full capacity, and there Is yet de-
mand for larger treatment facilities most
imyortant development Is being made. Two
new processes have been perfected and are now
being installed. the "electrcar and sulhd,
both Of which are expected 10 reduce the cost
Of extraction. incuing freight to about 81
Within a radius OF four miles from the town
Of Cripple Creek abou. two million tons OF ore
now lying in dumps will be made profitable
BY these processes Many mines hitherto
vaueless will be made paying properties.
INTERNATIONALLY COLORADO WRITERS.
The most difficult task presented to the critic
OF Cripple Creek is that Of estimating its eeiti-
mate business. Properties purchased with
either of two purposes-honest development
stocking and manipulation. Wholly invalid is
the excuse so often given for stocking
pany for million dollars on the basis OF
few claims and putting the shares on sale at a
few cents. Development money, There are
about three hundred negotiators in this town
alone who would secure or furnish development
money in return for a part interest In any
thoroughly good proposition. But for the
stock boomer the facilities here are too ex-
cellent. Any mining s:ein. with or without
basis in fact can be published in either of the
Cripple Creek daily papers by paying an as
sessmeDt' Of 10 cents line. Several mining
writer's for local and Denver papers boast that
they never have been down in a mine, ana
don't intend TO go. They accept any sort OF
heaIsay without pretence u investigation.
AS Denver papers depend considerably on those
of the district mining news published con-
corning Cripple Greek can be relied upon In
inverse ratio to tn, necessity Of knowing the
truth. The writer has again and again heard
the remark: Ore, don; care whether there's
any on the property or not. | can sell II
just as well: stock il. If necessary OF the
stocks az present listed on the exchanges here.
over sixty In all. perhaps one-fifth have to-day
something more than pre- spective value. Even
rated as CANDLES" considering location.
patented area. management capitalization and
present quotation. probably one-third are not
worth the price being paid
Many claims being held at fancy prices
simply because they within the producing
belt. This Is counted cr as pre-eminent recom-
mendation 10 outside buyers. All things includ-
ing price. considered ii is rather the contrary.
Many OF the best investments Tor price and show
ing made to-day are undoubtedly beyond these
limits. The factors determining the value OF
property for direct purchase mainly area and
vein showing or known location relative - prop
critics already producing. These are. as rule
rot difficult to determine. but The utmost care
should be used in the choice Of an intermediary
and examiner. Absolute integrity should be the
frst requisite and Il is at a premium in this dis
trict. Many OF the socalled experts here are also
utterly incompetent. In case Of Investment,
through stock. the character Of the men in con
troll becomes OF paramount importance. Proceels
OF stock sales should BE- devoted - Development
OF property. In justice be il said that this - ire
quently the case hut by no means always Every
purchaser. by increasing the demand Tor Stock
appreciates the value n the Treasury reserve
and. as the manag cement is honest. or otherwise.
increases the opportunity Tor Improvement or
swindle and abandonment of the property 10
the investor these things are vital; TO the mere
stock manipulation they are of little Importance
Cripple Creek Is not So useful district as its
output OF S. 100 600 would suggest Imitation, nov
work Is the general occupa ton. TAe production
Of value per capita In the district Is less than ~
"A year Nevertheless. what has been sald VIII
show that IL Is not the bubble some would nave
investors believe Ia fact il is difficult 10 state
the plain truth Of this camp without appearing
10 boom the excitement. The intention OF this
letter however. is just the opposite. There Is al
ready too much fiction told and written with tnat
purpose. The current year VIII propapiy or.ns
somewhat OF n conapse In stock and real estate
values Ii is strenuously urged that no stock ne
purchased for investment purposes ana no prop.
erty secured by those not IN the ground eNcept
! with the utmost caution in selecting those with
| whom to deal. both to integrity and as To "a
I milIarty with mining In general ana grippe
Creek In particular For those VINO invest wisry
there are good opportunities yet to be seized II Is