The sun., 1897-11-23
.ENDOF The GOLDEN SCEPTRE
Bubble That Hurt Wilmington
ians When 1t Burst.
VISION OF WEALTH VANISHES.
Away Go the Means OF Many Poor In
yestOrs Who Can Ill Afford
to Bear Their Losses.

sought to place somewhere the stock Of
The Golden sceptre Mine, Of Montana
whereof he had with him the prospectus
and concerning which the reports Of Off
cial inspectors, including among then
the State geologist of Colorado, We're SC
Aattering as to be almost incredible.
DR.. Law had letters of introduction tc
several prominent men in Wilmington,
among them Harry S. Emmons, Esq,
the well-known attorney.
From this slight beginning grew a
mining acquaintance and a mining stock
operation, absolutely unparalleled in this
vicinity for the remarkable manner in
which it involved all those who in any
way concerned themselves in it. DR..
Law soon found on his list of subscribers
not only Mr. Emmons and Senator Hig-
gins, but a score of smaller investors, all
Of whom entered his project with the
most absolute faith, expecting to reap
many times what they sowed. About
two weeks ago the mining property of
the Golden sceptre Mining Com
pany, with the thousands Of dollars
worth of improvements which had been
made upon it, was sold at foreclosure sale
under the order of the federal court in
Montana. A new company has taken
possession, and the wealth which was tc
go to Wilmington investors, will 60 tc
others.
The Golden Sceptre property is located
in a remote district. 1t lies far from the
railroad tracks, and to reach it for the
purpose of actual working, railroad had
to be especially built. On the property
was a pleasant water course, the fall OF
which was to be used for power in operat.
ing the stamp mills of the new con-
Germ. The ore lay in one huge mountain,
every bit of which seemed valuable, and
tunnel after tunnel, sunk for experimen.
tai purposes disclosed riches of which
the original location had not dared tc
dream. To be sure the great body OF
ore was described as Glow grade which
would yield but small return per ton
but which, in the aggregate would ne,
millions. To secure these millions
works were planned and projected
whereof the cost was to reach several
hundred thousand dollars. Stockhold.
ers' committees visited the scene and re.
turned, declaring themselves satisfied.
One large mercantile concern in Viii.
mington, that OF Quigley & Mullen, al.
ready distressed, ventured it's remaining
surplus and available cash.
But the estimates Of the cost of placing
the necessary machinery and making the
needed arrangements was fallacious.-
What seemed easy, grew difficult. What
had been reported cheap, was dear. La
Dor far highert than here, ate a tremendous
hole into the company's assets. The rail
road, ,runningthrough rockand over chasm
absorbed "a mint. The water arrange
ment, with the fumes and trestles, the
high priced lumber, the high priced labor,
and the other difficulties encountered,
swallowed up fortune Still the pros
poets were reported bright.
A town soon sprang up on the COM
pany's property, with hotels, stores,
newspapers-a name. The name was
Quigley. This was in compliment to
Winfield S. Quigley, wholesale grocer
here, who had been appointed manager
of the company. Mr.. Quigley knew
nothing OF engineering or mining, but
that made no difference.
Meanwhile, only a favored few
here secured the stock. Among
them were the minister OF Mr.. Emmon's $
church, and many of his parishioners,
Mr.. Emmons' unboundcd faith in the
led him, with Mr.. Higgins and
others, to endorse its notes for a large
sum, in addition to what they paid for
the stock. 1t was marvellous to note
those whom the Golden Sceptrc reached,
for many We're OF the staid, quiet,
non-speculative sort, who are thought to
be beyond mine or stock temptations.
For a long time the Golden Sceptrc
ilourishcd. But one day there
came word that it was in difficulties.
Presently the company made an assign
mcnt for the benefit of its creditors. A
clamorous crowd of unpaid workmen
its property with destruction.
On the top of this came the financial
panic, in which it was next to impossi-
BILE to obtain money upon any security
or upon any terms. Negotiations
with English capitalists were be-
gun with a view to unload
the property. Large creditors pressed
their claims, as well as small. Mr.. En-
mons visited Montana seeking to make