The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-07
WENT BY MILLIONS
REMARKABLE JUMP IN ANACONDA
MINING STOCK.

English Syndicate Said to Have Made Big
Deal With D. II. Moffat of Denver-Fif-
teen Million Dollars are InvoiFed-1he
Florence and Cripple Creek Railway an
Guided in the DeaI-Johnson has Lett
for London on a Mission Which Prom
ises Great Development in Mining In
terasts-Other News From Colorado
0anvAr MAY 6-The remarkable jump
In Anaconda yesterday, taken in con-
nsctiou with quiet rumors which have
heen afoat for several days. leads a
number of far-seeing individuals in Den
yer TO prophesy that the state is about
"a witness the largest deal in mining
and other properties that has been
known since the opening Of the gold
era in Colorado.
If reports are to be credited, the deal
will involve the payment OF about $751;
coo, 900 TO D. H. Mofit and mis- associates
and the entire interest oc Mr.. Maffat
in the Florence and Cripple Creek rail
way, the Anaconda mine and the great
cyanide works at Florence viii be trans
ferred to a syndicate consisting Of En-
glish investors.
The telegraph yesterday conveyed the
information that the Victor mine had
been placed in Paris. News from w.
Z. Johnson, who left for London four
months ago, has been Of a most encour-
aging nature, and if the object of Mr..
Johnson's mission is not accomplished
his friends viii be greatly disappointed
L. l, N, -
the train at Denver were 81 hope to be
able to bring back intelligence of the
greatest interest to Colorado. If 1 sue
coed in my mission, there will be many
thousands Of dollars for use in develop
ing different parts of the state"
Mr.. Johnson declined to explain the
nature Of the proposition he carried
with him across the ocean, but it has
been known that he was prepared to
handle the largest transaction that has
been presented from Colorado for many
years It is significant that Hamilton
Smith, the greatest mining expert of the
world, made a careful examination Of
the Anaconda mine last fall and pre-
pared an extensive report for prospec-
tive purchasers in London. 1t is sig
nificant also that Mr.. Moffat is at the
present time expanding upwards of
100000 in placing the Florence and Grip
pie Greek railway in first class condition
and raising the road bed so that all
danger of washouts will be avoided.
The upward movement in Anaconda is
looked upon as evidence that favorable
reports have come from across the wa
ter and in the opinion of persons who
have carefully watched the progress of
events, the sale Of the Maffat interests
IN the great gold camp is almost a
fOregOne conclusion. 1t may require
Two months or more to complete the
details Of such large transaction, but
If President johnson has been success
full in his mission, as This friends claim,
the cash viii begin moving from the
Bank Of England before many days
The character of the men who are al the
Colorado end of the transaction gives
assurance that the money viii be rein
vested at home and the entire state
will be the gamer
The Anaconda mine at Cripple Creek
Is one Of the phenomenal properties
which has assisted in giving the camp
worldwide prominence. 1t is located
on Gold hill and comprises $50 acres. It
has produced over $500. 600 and contains
a tunnel 5000 feet in length, through
which the ore can be transported to the
railway, whence il is carried 10 the
works al Victor. The Anaconda was
original mine as a quarry, the entire
side Of the mountain being shipped for
treatment 1t is one of the properties
Of the district which has been systemat-
ically developed, with tie object ap-
parertiy Of slowing It's valLe rather
than TO stand near the head of the list
as a producer. The values in sight
are known only to Mr.. Moffat and his
-
values run into the millions The
mountain is literally honeycombed with
drifts the tunnels which follow the |
mineral leads in their devious wander |
ings. Few mines Of the continent have |
skin displayed in the Anaconda The |
company Is capitalized a s., 900 900 and |
has at all times been indifferent to |
stock speculation, paying no attention |
10 the fluctuations of the limited amount |
of stock which found its way to the mar
ket
The history OF the Florence and Grip |
pie Creek road is well known. The |
road has paid dividends on a capitan- |
cation Of S1O.0Oo.00O from its start and |
has proven one of the gilt edged railway
investments Of the state. The road IS |
only forty miles in length, but it has !
terminal facilities in the gold camp |
WHICH cannot Dc duplicated. ana the |
down hill haul to the reduction works |
at Florence makes the road a permanen /
cy in the development Of the Cripple |
Creek district.
The improved and enlarged cynaide |
plant at Florence. which is owned prin- |
cipally by AR Moffat, IS the most COM |
plete plant of the kind on the CONT |
nent if not on the world. The plant |
has a capacity of 900 tons of ore aday |
and 1t is said that the cost of treatment |
Will not exceed IS a ton. The Anacon- |
da mine is a huge low grade proposition |
and il has been understood that the |
works at Florence were enlarged main |
" with the object Of treating ores from |
the Anaconda. The amount of ore /
that can be supplied from the noted |
property is practically unlimited. If |
the deal goes through. Moffat and Smith /