The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-16

a ton. Now and then a rich pocket Is
struck. however. which will pay a thou
sand dollars and upward a ton. and SUCH
places in the mines are carefully watched,
for fear the miners will carry away the
gold. The manager of one of the biggest
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 golu-bearing rock was
found. He had carried out the richest
pieces from time 10 time in his pockets
and altogether had taken out nirc.- ST.
pounds, which was worth SIS a pound, or
1855 worth of ore.
LEASING MINES
Speaking of the leasing of the Docto-
mine. the custom of leasing mines is very
common here. Men will take mines and
work them for a certain time for a fixed
price. or for a proportion of the gold got
ten out. There are many men who have
good prospects who nave not the money to
work them, and one with a moderate
amount of capital can either get a lease on
such prospects or buy a share in them
Take, for instance. the Anchoria Lelard
mine. the stock of which was selling for 4
cents a share about a year or so ago. 1t
has this year sold for So a share, and ii Is
practically not for sale in the exchanges.
This mine was opened up by a lease. IL
was not considered worth much until a
man named Maloney. from Islkota, came
through Cripple Creek on his way TO Lead
vile. He looked at the mine and leased it.
He spent $500 in opening it up. and in
one year. 1 am told. he took 100000 worth
of gold out of it. His lease has now ex-
pired. and the mine will be worked by the
stockholders.
1 could give numerous other instances of
fortune making in mines. L could find
perhaps ten thousand times as many in
stances of men losing In mines, but min
ing is in reality a legitimate business. and
1 believe if followed with the same care,
investigation and business ability as are
required to give success in other business
es, the chances of making money are good.
Here, for instance. is a list of the millions
aires at Cripple Greek. as given by an
old miner. / do not vouch for the truth
OF his estimates:
w. S. Stratton was worth nothing, is now
worth $40. 900, eco.
James +. Burns, James Doyle and John
Harnan, each worth more than a million.
made out of the Portland and other prop
critics.
James r. McKinnie. a friend Of Stratton
and one of his advisers. has made a mill
lion.
David III. Moffat, long a millionaire. has
easily made two or more millions out of
Cripple Creek. He owns the Florence and
Cripple Creek railroad. which cost a mil
lion. 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, Mofat's partner, has also
made a fortune out of Cripple Creek.
j. f. Maynard, of Utica. N. Y. paid
s1.O0 for the Moose rhine, on Raven hin.
This mine is said to produce now from six
to eighteen thousand dollars a month. An
offer of $500. 900 has been refused for it. but
Maynard and his partners ask $40 0 600.
r. c. shannon who beat Amos Cum
mings for Congress, is said to have made
a quarter of "A million out of the Anchoria
Leland and the Portland, and the FL Paso
Gold King mine, which cost its owners
$500. is said to be worth nearly a million.
In short. there are about ten men who
have made something like a million dol
lars out of Cripple Creek. There are one
hundred men who nave made more than
5000 apiece and there are perhaps one
thousand men who have made $50. 900 apiece
Nearly all of this money has gone to Col
orado people, though the French are now
investing largely and nave some of the
best properties here.
FRANK G. CARpENTEp