Daily camera., 1901-01-23

productive mining property he owned Ct
controlled in the Cripple Creek distric'.
the Golden Cycle. His interest in the
Victor mine consists Of judgment for
debt. bu. i. is highly probable that dur
ipg the next few months this, too. will be
surrendered to new syndicate, For .
long time it has been evident that this
once powerful factor in our mining At.
fairs and also at different periods widely
influential in the building and conduct OF
our state railways and in financial affairs
has begun Systematic process Of con.
solidAt,ng his fortune into sound and
safe securities, which, IN the event OF his
death. could no, be shaken by any but
the most violent monetary sturbances.
Instead Of expanding as before he has
been steadily contracting. He Is now 50
years OF age. All his life long every
bent Of his active intellect has been 10
ward money getting. 1t was inborn, and
from earliest boyhood an irresistible i'm.
pulse. He never touched mining in any
form until 1870 and then only as mat.
ter of sheer necessity to project the First
National bank, Of which be then was
cashier. from overwhelming danger.
Prior to the tremendous events follow
ing the discovery Of mineral At Lead.
vile there had been no temptation for
men Of his stamp to engage 10 gold or
silver mining. His partner. the presi.
dent of the bank. had never been with
out engagement in that pursuit from the
day he landed in Gregory gulch in 1860
to. me day of his death. He vas always
dabbling in schemes of magnitude which
called tor the expenditure of thousands.
Bui urge rs he would, Moffat refused to
en,er the field. His business was bank.
ing. good, safe, legitimate. steadily pro-
gressive banking, and he would listen to
no proposition which involved risk tax
ing. But there came time when he
was compelled to take a hand, and a
large one. too. in that business also. 1t
was then that he became thoroughly in
fected with the fever. and in subsequent
years 1t took complete control Of him
AS his gains from various transactions
multiplied BY millions, banking became
subsidiary TO the speculative vertures.
All m-n know the result. But It is only
jus, to say that however deeply he might
plunge into the wild whirlpool of prec.
ious metal extraction, however wide and
deep and costly the ventures which at
uacted him to play the game for all il
was worth, there never was moment in
which he jeopardlzed the safety or spsc.
ulated with funds of the b ink. VIA, be
d d in mining was with his own private
money; not dollar belonging TO deposl'
tors was risked. The greater part Of
Mr. Nj, fats vast accumuiations from
the mining industry has been acquired
during and largely perhaps because Of
his association with Eben Smith. 1t was
Smith who directed the great scheme Of
underground work in the Maid and
Henrlett combination of valuable claims
on Carbonate bill, which laid the basis
Of all subsequent operations in the min
ing field. II was Smith who examined
and reported upon every other property
that was purchased and developed to the
paying stage. 1t was Smith who pro
nounced upon Creede's discoveries at
the camp now called Creede. and led to
ths production OF several modest for
tunes there for all that joined Moffat in
the pool.
But though late, Moffat and Smith,
finally seeing the trend of events. man.
aged to secure number Of great prop
critics in Cripple Creek. What they did
wi h them is a story often recited. To
promote these interests Mr. Moffat built
from bis own private purse the Florence
& Cripple Creek railway. He first gave
NCW 1osA SdpNAhStS thS OPPOItuuity
but panic prevailed there at that time
and they fell down. SO to speak. There
fore, having set his mind to the consum-
nation OF the project, he took up the
burden and finished il, and later on sold
it at tremendous profit. As time passed
both he and his partner, Smith, became
the richest and most powerful miners in
this part of the vest, How many mil.
lions they made cannot be estimated,
but good many. One day last summer
there came dispatch from Victor that
Moffat and Smith had quarreled, sepa.
rated for good, and would conduct no
more enterprises under the firm name.
When published 1t created vast surprise
and unlimited speculation as to the
cause. 1t followed that Mr. Moffat was
disposing OF every partnership interest
he had with Smith together with his
railway, milling and other properties,
One by one they passed into other hands
and thus the mighty leaders in the min.
ing world went each his way alone.