The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-05-02

Grand Fncampment, Wyo., April 5O.-
Development in this district VIII be
very rapid. The best and most modern
machinery is now on the way to Wyo-
ming's mining metropolis. Contracts
are being let for the sinking OF deep
shafts and the extension of the tunnel
breasts deep into the Sierra Madres-
The Grand Encampment district To-Day
is attracting the attention of more cap
italists and mining engineers than ala
Cripple Creek when it had attained
twice the age of the Wyoming camp
2 Six months more viii prove TO the IN
credulous that the prophecies OF those
who have investigated are not. without
foundation. 1t viii clinch the evidence
its mines have already adduced that
the district is phenomenally rich IN at
least three ores-coppeT, cobalt ana
gold. 1t is highly probable that SIX
months more will prove Grand En-
campment TO be the field of the richest
mineral deposits between Cripple Creek,
Colo. and Butte, Mont 1t is possible
that another six months will establlsh
Grand Encampment as the greatest
gold and copper camp on earth
People are coming in in shoals on
every stage. and no one goes away DIS
satisfied. Those who believe most de-
IermlnROlX IN the ulClIlCl ttic Lie OAACo
that make the closest investigation and
examination. hundred buildings are
now either in process Of construction
or under contract for erection. Not
only business houses, but residences,
are springing up on the beautifully To-
Gated townsite, which is building on
the north banks OF the Grand Encamp-
inert river, where the mighty Sierra
Madre mountains form crescent,
while the plateau where the town is
located becomes the key to the situa-
ton, over which and through which
people visiting Wyoming's new gold
fields are compelled to pass in going
into or coming cut of this marvelously
rich mineral camp.
Cooperative mining, rightly con-
Quoted. is a paying proposition, OBJ
serves the editor of the Mining and
Scientific Press. Men earning a little
more than their daily requirements and
wanting to have their surplus money
produce them more than the ordinary
savings bank investment. can get to-
gether to the number of 10 or Is, each
paying a settled amount weekly into a
common fund for prospecting. The
main point is to be sure of their man,
for the strength OF a venture of this
kind depends upon the ability and re-
liability of the prOspector who spends
the money. When he has a good pros
DtGI. a little more lIle IISI quota
will be required to develop it. In this
development expensive machinery is
not to be thought of at first; mining
ma chinery men now make small stamp
mills that are economical and effective;
two three and sometimes five heavy
rapid-drop stamps, discharging on
three sides, are in this regard found
satisfactory. In case extensive devel-
opment or purchase of expensive ma
chinery is deemed necessary. when
that point is reached is a good time to
get expert opinion, for then begins the
manufacture of mine, which is as i'm
portant as its discovery. and the ques-
ton arises whether it is best to sell or
bond or for the co-operators to make
their own development.
OF course, such an investment as
that indicated needs close watching.
Though confidence be at the bottom of
it, nevertheless 1t would not do to take
too much for granted and each one in
terested must have immediate knowl-
edge of just what is being done Many
a fine property has been discovered and
developed by just such small begin
nings, the same rules being required in
this as Sn any other legitimate bust
ness. the advantage in mining invest
ments being that there is no more
gamble about it than any other bust
ness. and where successful it is I'M
usually satisfactory.
Where such a scheme is pushed it is
often easy to find a buyer, with the
joint stipulation that all the money is
TO be used for developing, the original
owners retaining certain interests-that
is, they would part with a portion of
their holdings for the sake of having
the property developed, on the propo-
sition that without such additional cap
ital they could not go ahead, and that
IT WnIlld h. hpftnT- n frS Of
a developed mine than three thirds of
a prospect. as an undeveloped mineral
location is probably the most unpro-
ductive form of real estate that one
can possess. There is much in the mt
tuai plan to commend itself to the
judgment and action of small capital
lists.