The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-16

Stratton. He had been down In the INDIE
riches He thought that Burns and Doyle
had good thing, and he asked them how
much they would give him If he would take
the claim and show that 1t was worth some
third interest. He at once went to work and
soon struck pay rock" which was won
derfully valuable. For some time they tried
TO Keep the fact secret, for they knew that
II Dave Moffat and the other capitalists who
were working about them should learn of the
value Of the property they would buy all
the claims about it. So they. got their ore
out in secret and carried it down from the
mine at night in sacks on their backs.
AS the ore got richer the sacks were not
large enough to carry all they wanted. So
one night they took wagon up to the mine
and prepared to haul it away by the wagon
load. They overloaded their wagon, how
ever, and it broke down just as they were
about to leave the mine. The next day the
ore was found on the side of the hill with
the broken wagon near it, This showed the
value of the mine and from that time on
they hauled their ore out They had, how
ever to fight for their rights. Other miners
tried to jump their claim and Burns took a
shotgun and drove them out at the point of
1t. They had forty seven lawsuits about their
title, but their ore was valuable that they
were able to pay for the best legal talent and
held their own. They got Stratton to go in
with them and they added the Anna Lee and
other mines to their property until 1t is now
one OF the most valuable in the world. Pres
ident Burns estimates that their average out
put is worth $40 a ton and he says that there
is one streak of ore in the mine that is worth
about $4,000 ton, the rock running nine
teen ounces of gold to the ton. At the sell
ing value of the Portland stock, the property
is worth between $4,000, 600 and S. 600 600 and
| venture you could not buy it for $4,000. 600.
They paid last year more than 900 in
dividends and until last year they were pay
ing three cents share in dividends every
month. They have given a pledge to their
stockholders that they will pay So per cent
in dividends this year and they claim that
they have not begun to get near the end of
their wonderful gold treasure. The mine has
now, it is said, five miles of workings and
its machinery is some of the finest known.
THE DOCTOR MINE.
Many of the best mines here have no
stock on the market. The Oldest miners Of
Colorado say that Cripple Creek will last
for fifty years, and all kinds of fabulous
estimates are made as to the amount of
gold which will be turned out. Gov. Grant,
at Denver, is reported as saying that in
seventeen years Cripple Creek will produce
$500, 0O0. 900 worth of gold.
The result of this belief is that the own
ers of the mines hold their property very
high. There are mere holes in the ground
here which have so far produced nothing,
but which are capitalized for millions. One
rather sanguiEe operator tells me that he
does not believe you could buy all the mines
Of this region today for $500 000, 900 cash. and
the man who expects to come to Cripple
away sorrowful. One property which prom
ises well is the Doctor mine. 1t Is situated
on Raven Hill. and is yet barely more
than prospect, but its owners, l an told,
would not take a million for it. 1t is the
property of two men who came to the
Rockies with little money and bought the
Chief mine and the Doctor mine. two claims
which lay side by side on Raven Hill Thew
spent their first money on the Chief. 1t failed
to pay. and they at last got $40 600 in the
hole. They then gave the work UP for a time
In disgust Shortly. after this a miner came
to them and offered to lease the mines and
to give them a norton of the nroffts. they
acuuiesced. and he went to work. Within a
few weeks he had taken out $50 600 from a
single great lode which he discovered. He
struck crvstallized gold in the quartz by
SHOOTING down the sides of their old work-
ings with dynamite. ard the result is that the
Doctor is row valuable rroDertv.
HOW MINERS STEAL GOLD.
1t is generally known that a large part of
the Cripple Creek ore is of very low grade.
Much Of it has to be reduced by the cyanide
process in order to pay, but there are spots
in nearly every mine where amonts of high
grade gold have been found. The high grade
ore of The Victor mine averages about 5000
ton, and the average value of the ship
ments of Cripple Greek ore last year is es-
tlmated at $50 ton. Now and then a rich
pocket is struck, however, which will pay a
thousand dollars and upwards ton, and
such places n the mines are carefully
watched, for fear the miners will carry away
gest gold mines told me that he often had
his miners searched before they left the mine
and In certain parts OF the mines they were
always required to change their clothes upon
coming in and going out Not long ago a
miner was suspected of stealing ore. His
cabin was searched; and more than 81 500
worth of rich gold-bearlng rock was found.
he had carried OUT the richest pieces from
time to time in his pockets, and all together
had taken out ninety-s-X pounds, which was
worth SIG pound, or $1,536 worth of ore
LEASING MINES
Speaking of the leasing of the Doctor NINE
the custom of leasing mines is very common
mere. Men will take mines and work them
for certain time for liked price, or Tor a
proportion of the gold gotten out. There are
many men who have good prospects who have
not the money to work them and one with
moderate amount of capital can either get
lease on such prospects or buy a share III
them. Take for instance the Anchoria Le-
land mine, the stock of which was selling for
four cents share about year so ago. 1t
has this year sold for SO a share and it is
practically not for sale in the exchanges.
This mine was opened up by lease. It was
not considered worth much until man
named Maloney from Dakota, came through
cripple Creek on his way to Leadvile. He
looked at the mine and leased it. He spent
$1,000 in opening it up and in one year |
am told, he took $500, 600 worth of gold out of
it. His lease has expired and the mine
will be worked by the stockholders.
CRIPPLE CREEK MILLIONAIRES.
l could give numerous other instances of
ne-making in mines. 1 could find per-
maps ten thousand times as many instances
OF men losing in mines, but mining is in
reality legitimate business and | believe
If followed with the same care investigation
and business ability are required to give
success success IN other businesses, the chances of
making money are good. Here for instance
is list of millionaires of Cripple Creek
as gwen by an old miner. l do not vouch
for the truth of his estimates:
w. S. Stratton was worth nothing is now
worth $4,000, 900.
James F. Burns, James Doyle and John
Harnan, each worth more than a milIio,.
made out of the Portland and other nron-
critics.
James R. McKinnie friend of Stratton
and one of his advisers has made a million
David h: Moffat, long millionaire, has
easily made two or more millions out of
cripple Creek. He owns the Florence and
Cripple Creek railroad, which cost a million
but which paid for itself in six months,
and is still making money.
irving Howbart, of Colorado Springs the
owner Of the Anchoria Leland has made a
million.
Eben Smith, Moffats partner. has also made
fortune out of Cripple Creek
j. F. Maynard, of Utica, N. Y. paid 81 600
for the Moose mine on Raven Hill. This
$4,000 month. An offer of $500 600 has been
refused for it, but Maynard and his partners
ask $4,000. 600.
r. c. Shannon. who beat Amos Cummings
III eonSiess' Is sdiu TO nave made quarter
of million out of the Anchoria Leland and
the Portland, and the Ell Paso Gold King
mine, which cost its owners $780, is said to he
worth nearly million.
In short, there about ten men who
have made something like a million dollars
out of Cripple Greek. There are one hundred
men who have made more than $50 600 apiece
ana there are perhaps one thousand men
who have made $4,000 apiece. Nearly all of
this money has gone to Colorado peopIe
though the French are now investing largely
and have some of the best properties here
Frank G. Carpenter