St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-16

dollars and twenty-five cents is a good
profit off Of Is cents, isn't it?"
COLORADO RICH MEN.
Eyes, it is,v said I. But Ilsuppose
the most Of this money goes to the
East?'
mo, it does not" replied Senator Tel
Ter. I thank fortune it does not. The
East has had little confidence in Col
orado OF late years. It would not for
long time take any stock in the gold
discoveries, and Colorado men had to
develop the mines themselves. This is
what want. I want to see the state
develop itself and get the profit. We
don't want lot Of fellows living in the
East and fattening off the body Of Col
orado. We are practically indepen-
dent Colorado has all sorts Of re-
sources. and II the people do not want
our silver we can give them gold II
they don't want gold we will give them
coal, and If they don't want coal we
have enough petroleum in the state to
float many Of the Eastern cities. The
gold discoveries have filled the Colo
RADIO banks. heard not long ago from
Colorado Springs. My letter stated
that there was more than a million
dollars of Cripple Creek gold deposited
In its bank vaults. have a recent
Denver. It had half million dollars
capital and its deposits now amount
to more than seven millions of dollars.
THE GOLDEN ERA
do you think this gold output will
continue TO increase?"
II don't know why 1t should not"
replied Senator Teller. Some of the
mines which l saw have enough gold
In sight to keep them busy for years,
and new mines. as / said, are being
discovered. There is a great increase
in the worlds gold product. 1t usu-
ally amounts to about $3.50, 100000 an
nually. 1t is now going on at such
q rate that it will amount to more
than $500. 900 a year, and I will not
be surprised to see it increase to $780,
100000 a year. Such an increase will
surely raise prices and silver will go
up. ] do not, however, believe that
this will make immediate good times.
Capital is timid. There are few new
factories being started, and 1t will be,
l think, several years before we see a
substantial change in the financial
situation"
Speaking of the Cripple Creek
mines, senator, who are the men who
are making the most money out of
them?''
There are number Of men who
IRE TedilZlUS fortunes, replied SEN
ator Teller. Among other persons
who have valuable property is a man
named Stratton. He owns the Inde-
pendence mine, which is now turning
out half million dollars every month
i venture to say he can clear that
much a month. Some of his ore is so
rich that 1t can be taken out at an
expense Of 10 cents an ounce, and |
don't suppose that 1T costs him more
nj tn 70
mine. was told when l was last in
Denver that he had then 100000 on
deposit in Denver bank
Was Stratton a rich man to start
within" l asked.
No. believe not" replied Senator
Teller. He came West poor and
struck 1t rich at Cripple Creek. 1t was
the same with one of the owners of
the Portland mine. which 1 told you
was also turning out half million
dollars month. He was a plumber a
few years ago. and was working for a
few dollars day."
GOSSIP ABOUT MOFFATT.
How about David H Moffatt, SEN
ator?' I asked. HE is also a self-made
millionaire, is he not?"
Yes. replied Senator Teller. when
I first knew David H. Moffatt he was
running little book and stationery
store in Denver. He came west from
Omaha, I think. He left the book
store to be cashier Of a bank, and his
money making ability was such that
he was soon able to buy a majority
of the stock Of the bank, and became
its president. / don't mean that he did
anything not strictly honest, but he is
a natural money maker, and he has al
ways been successful"
What is Mr.. Moffatt worth now.
senator?'
II suppose he is worth anywhere be-
tween $10.000,000 and SIS, 000 0OO," was
the reply. He is SO rich now that he
can't help making money. He may lose
little here and there, but he is bound
to come out on top. Why, not long ago
he had to take a mine for a debt of
$4,000. He put money into it and de-
veloped 1T. and out of that mine alone,
/ venture, he has taken a million. He
is now interested in mines all over Col
orado. He owns railroad and other
operators of the West. He has large
interests at Cripple Creek"
EXPERIENCE WITH A TRAMP.
What kind Of "a man is Moffatt, SEN
ator?" said I. you remember how a
tramp scared him into a present of
$4,000 with little bottle of water?"
II was not water. replied Senator
Teller. 1T was a bottle Of sweet OIL
l have talked with Mr. Moffatt about it.
He was sitting in the back room Of his
bank in Denver one day, when a wild
eyed looking fellow entered. He seem
ed to be desperate. and he said he was
so. After a few moments talk he pull
ed little bottle out of his pocket, held
1t up before Moffatt and told him that it
contained 'nitro-glycerine He said he
was bound to have some money, and
that Moffatt could choose between CIV
ing 1t to him and being blown into
atoms. He told Moffatt that he was
bound to have $4,000: that he must