Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1899-02-22
GOOD MINING NEWS.
DR., G, W. Snyder, a Chicago
Capitalist, Interviewed.
Syndicate, With Unlimited Capital,
Will Soon Be Organized.
VIII Operate In White Mountain Range
In Lincoln County.
WORK WILL COMMENCE MKT MONTH

Dr. q. ". Snyder, a wealthy capitalist
OF Chicago, VINO IL the promoter OF the
scheme by which syndicate OF Chicago
moneyed men will be organic Vi In the
near future for the purpose Of developing
the almost fabulous mineral resources In
the White mountain range In Lincoln
county, is in the city 10 day, the guest OF
his Old friend, Judge "A. L.. Warren. Dr.
snyder arrived last night from the south,
where he has been for some time past
looking over ths ground where the pro-
posed syndicate will commence Its opera
Iions.
A representative OF THE CITIZEN was
introduced TO Dr. Snyder to-day and in
answer 70 a request for information that
gentleman said: II am now on my way
10 Chicago, where, In a very short time,
expect u syndicate will be- organized TO
develop the wonderful resources OF the
country around Ruidoeo, Psrson City,
B0nito and N0gal, in the White noun
tain range While IL is our intention 10
make specially OF mining, We may also
10 some railroad building IN order TO sd.
vance the country more rapidly. We have
secured possession Of the historic Hope
we'll milne and twenty three other mines
In the same locality, which carry vast
quantities o. low grade ore and which
we believe justify the erection OF q large
mill, the construction on which | be-
lieye will commence In the course OF the
coming month II will cost In round
numbers about $250,000. but this will
only be preliminary In ths matter OF
expenditure by the syndicate In this ter
ritOry.
IL am not at liberty TO give the names
~ the parties who are interested In the
enterprise, for the reason that some of
them are not generally known as min
ing men. The report. however, that II
was TO be n Letter syndicate IL erroneous
~ Il. u Letter Ia one Chicago capitalist
who IL not interested. ] can say, how
ever, that the only question now Is IA 20
the value OF the property and not as TO
the capital required. The amount OF the
cspitaliZ alton OF the syndicate will he
Just AZ much rs Ia required, whether
IL be one million or hun
fred million dolla-s. The only
question now, az ! have said. Is the re-
port on the value of the property, which
will be- made by an expert representing
the men who contemplate going into the
syndicate. But there IN absolutely no
doubt about the result OF the experta-
tica. as all that is demanded by ths gym
iicsts Is l.0o0,000 tons OF ore, running
from 50 TO ~ pr ton, and II the expert
cannot find hundred million tons he
cannot find pound. lpassed the exper:
on his way 10 Inspect the property while
| was coming to this city"
During his stay In this city Judge
Warren and other citizens. interested
more particularly in the mining
properties In this section OF the
territory, have been telling DR..
Snyder OF the wonderful mining
possibilities in the Cochiti, Golden and
San Pedro districts and trying 10 get
him and his syndicate interested In them
also. The doctor stated that once estab-
lished In the White mountain country,
the syndicate would probably make their
operations there base for other opera
tions and would absorb mining proper
ties in many other parts OF the territory
The headquarters of the new syndicate
will be at PaTsOn City, Lincoln county.
DR.. Snyder will leave this evening for
Chicago.