The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1896-02-29

day without scrap of writing connected
with the contract A motion of the hand
will often announce the acceptance Of a
bid which makes or loses a fortune.
Other professions have no idea Of such
methods, and the average broker has as
high sense of honor as the men of any
other class in the world y
"You were worth $4,000 900. Mr.. Clews,
in 1873, when you suspended. How does
it feel to lose millions?"
s'It feels so bad,'' replied Mr.. Clews,
with shudder, chat don't like to talk
of it, I don't want to think about it.
Why, I lost s2,50o,O00 in one. clip at that
time. 1t was in Georgia bonds. You
know, the state repudiated, and I could
do nothing. I got up, however, but l
don't want to go through such an ex-
perience again"
Speaking of Mr. Clews' belief OF there
being gold era at hand. had chat the
other day with Senator Henry NJ Teller
about the rich Cripple Creek gold mines
Of Colorado. Cripple Creek lies just back
Of Pixies Peak. 1t is perhaps the best
gold region in the United States today.
Senator Teller had just come from the
mines when saw him Said he:
"A wonderful gold development is go
ing on in Colorado, and this has prac-
tically changed the condition Of the state
We seemed to be on the verge of ruin in
1898 through the fall in the price of sill
yer. Now the financial skies have
changed, and all the clouds have golden
lining. New mines have been discov-
cred at Cripple Creek, and we have some
rich gold mines at Camp Creek and Full
ford. The Cripple Greek mines are turn
ing out gold at the rate of from So, 900, 900
to $10,000,000 a year. visited two Of the
greatest mines there during my stay III
the Portland mine I found millions in
sight, and am told that the Independence
mine is equally good. The Portland mine
is turning out about $4,000 worth of
god day, or more than s500,00O a
month. 1t costs very little to get the
gold out. The average is less than Is
cents an ounce, and an ounce Of gold is,
you know worth more than $40. Nine
teen dollars and twenty-five cents is a
good profit off of rs cents. isn't it?''
Il suppose the most Of this money goes
to the East?''
mo, it does not" replied Senator Tel
Ter. Il thank fortune it does not The
East has had little confidence in Colo
RADIO Of late years. 1t would not for
long time take any stock in the gold dis
coveries, and Colorado men had 10 Ge-
velop the mines themselves. This it
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 Colo
rado. We. are practically independent.
Colorado has all sorts Of resources. and if
the people do not want our silver we can
give them gold. If they don't want gold
we will give them COAL and if they don't
want COAL we have got enough petroleum
IN the state to float many of the Eastern
cities. The gold discoveries have filled
the Colorado banks. I heard not long
ago from Colorado Springs My letter
stated that there Was more than 81 ,OoO,-
600 of Cripple Greek gold deposited in it's
bank vaults. I have recent statement
from one of our banks in Denver 1t has
100000 capital, and it's deposits now
amount to more than $7,0o0,O0O"
do you think this gold output will
continue to increase?'
Il don't know why it should not" re-
pied Senator Teller. "Some of the mines
which sa " have enough gold in sight
to keep them busy. for years. and new
mines, as I said. are being discovered.
There is great increase in the worlds
gold product. 1t usually amounts TO
about S15O,000,000 annually. 1t is now
going on at such a rate that it will
amount to more than 5000, 900 900 a year,
and | will not be surprised to see it in
craaset to $3.50 100000 a year. Such an in
crease 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 it will
be, think, several years before we see
substantial change in the financial
situation
Speaking Of the Cripple Creek mines,
senator, who are the men who are maxi
ing the most money out of them?"
There are number of men who are
realizing fortunes replied Senator Tel
Ter. Among other persons who have
valuable property is a man named STRAIT
ton. He owns the Independence mine.
which is now turning out $500,OOO every
month. [ venture to say he can clear
that much a month. Some of his ore
is so rich that it can be taken out at an
expense of 10 cents an ounce, and I don't
suppose that it costs him more than $685.
600 monthly to operate the mine. I was
IOlu WuGIl l Was '.dSC III DenTer that he
had then 100000 on deposit in Denver
bank N
/. WAS Stratton rich man to start
with?" asked.
'No, believe not replied Senator
Teller. '.He came West poor and struck
it rich at Cripple Creek. 1t was the same
with one of the owners of the Portland
mine, which I told you was also turning
out $500,000 month. He was plumber
few years ago and was working for a
few dollars day.
II suppose big fortunes are often made
in Colorado by chance, are they not sem
ator?'' 4
"Yes,' said the senator .luck has q.
great deal to 10 with it. It takes luck
brains and nerves. thought a mine once
for $4,000, and I made 100000 out of it.
l had a chance to go into another for s45.-
900 + would have had to borrow money
to do SO, and was afraid of it, This was
for a third interest and within a short
time the mine was sold for about So, ,OOO,-
coo. I would have made nearly 81, ,OOO.-
600 out of my $A5 900. but did not at that
time have the nerve to risk it. The
same fellows who asked me to 20 in with
them to buy that mine have lately made
a big strike at Cripple Creek. They
bought a mine and stocked it on the basis
Of 5 cents share to raise the $50 600
- u -.