Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-06-17
PROSPEROUS CRIPPLE CREEK
L. C. FERREE, A FORMER KANSAS
CITYAN, TALKS OF 1T.
The Mines, He Says, Were Never So
Prosperous as NOw-What the
Gold Belt Really Is
and Where.

tf1Ct were never so prosperous DIS tlISy AZ
at the present time, and there never were
such opportunities offered to make money
there as right nOw," said Mr.. L. c. Ferree.
a former Kansas Cityan, who is now In
the city for a few days, on his return from
an Eastern trip. Mr.. Ferree left Kansas
City for Cripple Creek about two years ago
and is a member of the firm of the Riley
Ferree Investment Company, one of the
largest and most successful mining firms
in the district to-day. 70 a reporter for
The Journal, Mr.. Ferree said: 1T is the
gold output that makes a mining camp.
The output of this wonderful camp reaches
now nearly s., 900 per month. or at the
rate of $50 900 per annum, and Is GER
tainly the greatest gold camp on eartn.
all running to their full capacity, and some
of them are over 200 cars behind. IhlS IS
being remedied, however, by the erection
of several new cyanide and ~chlorination
mills, besides the present mills are ADDING
to their capacity.
great? Judge for yourself from this. Two
years ago there were only three mines
with depth of 800 feet; now there are a
to 500 feet, and to-day the largest producers
showing that with depth the camp grows
better. Altogether there are about 800 ship
ping mines, and every week adds one or
more to the list; most of these are less
than 200 feet in depth; The history OF
chute of ore is encountered in one OF these
fssure veins the extent of IT as TO depth
is yet unknown, and for that reason 1t Is
safe to presume Cripple Creek will be a
great gold camp twenty-five years from
what is the extent of the present gold
belt wher these mines are lOcated?
About three and One-half miles square
will AXE in all of the shipping mines. 1t
is the most compact mining camp, IN the
world, and for this reason mining Is more
certain and opportunities Tor making
money are greater compared with other
camps. 1t also takes less capital TO open a
pay mine. For instance, If your neiShbor
opens a pay vein which runs toward your
little prospect work will open the, same
vein on your ground, and you Will have
shipping ore with an expenditure OF Only
a few hundred dollars.
"A great many of the best located and
valuable properties are owned by STOCK
| companies which We're organized three or
four years ago and their treasury stock
disposed of at very low figures, the pro-
ceeds of which were used up IN paying
salaries and unnecessary expenses, instead
of paying for the development OF their
property, and the result is now they lind
their hands tied, as their stock Is scattered
and. being worcestershire, have no means
of raising funds for development. Many of
these companies are leasing their prop
critics in blocks, being satisfied with roy
alties. For this reason Cripple Creek is
becoming a great leasing camp. Many
leasing companies and syndicates are
formed to operate leases rms deveiopes
the camp more rapidly and gives the small
er operator a chance to get a producing
mine. Instead of using capital in acquir-
ing a title, they use it in the development
and opening up of ore bodies. and many
a man is counting his monthly income 10y
the thousands by this leasing process.
| There are at present several leases with
an output of $4,000 per month.
Cripple Creek needs no advertising-it
has had too much of il in the past, which
has resulted in all kinds of wildcat
schemes. Companies were organized and
worthless stock sold all over the country,
much TO the detriment of the camp and
legitimate mining. As l said before, the
gold belt is only about three and one
half miles square, yet there are hundreds
of stock companies formed with ridiculous
ly large capitalization, based merely on To-
cation of claims $50 called mines) five to
ten miles from the gold belt, which have
absolutely 10 mineral merit and are con-
sequently worthless, and. in many in
stances. this .ock was sold as high as 10
cents per share. being n valuation of $780,
900 for the properties. They were not even
prospects. | would like to emphasize this
! point for the benefit of those who may
| become interested in mining. that in in
vesting money in Cripple Creek stock or
1 mines, see that the properties are located
in the gold belt, where gold is known to
exist. and let the other fellow do the piO-
neering in the outlying country, where
the formation. location and everything is
against il ever being a mine. Our expe-
rience has proven this fact, for our opera
tons have been confined to the best locali-
ties in the gold belt, with the result of hav-
ing now three shipping properties which
are paying handsome dividends to our
clients and friends who Joined us in the
enterprise"
Are they making any new discoveries Of
ore
Hardly a week passes but Q new vein of
pay ore is opened. Only a few weeks ago
a strike was made on Beacon hill of ore
running up into the thousands per ton.
Cripple Creek is a high grade camp. that
is. the richest gold ore has been found
there of any camp in the world. I have
a handsome specimen of ore with me that
runs Sl32.O00 per ton and which dazzles the
eyes of the oldest miner"
Here Mr.. Ferree displayed a rock about
as large as a mans fist which was liter
ally covered with gold and which is GER