Idaho Springs siftings., 1902-08-23
LeadvilIe's Promising outlook.

6Icdl DOudl6 tudl II may nOW
be advanced from the domain of specu-
lation to the more certain foundation
of the axioms. The year 1879 marked
the arrival of the carbonate period,
when the Little Pittsburg, Robert e.
Lee and other bonanzas drew the at
tention of the mining and financial
world and all classes and conditions of
men thronged the rough roads to Lead
vile. Later on came the railroad
period in 1882, and thence to the finan-
cial panic in 1893 the record of the
camp was paean of prosperity.
From the clouds of 1898 emerged the
gold excitement in 1894, with its Little
Jonny, Sedalia, Resurrection, Golden
Eagle, Fanny Rawlings and South
Winnie mines, which have placed the
former silver camp in a strong posi-
tion among the steady producers of
the yellow metal.
In 1896 came another dark cloud, in
the form of struggle between organ
ized labor on the one hand and organ
lied capital on the other. The result
was temporary dullness and discour-
agement, followed by a reasonable COM
promise of differences, the organiza-
tion of the Home Mining and the
Home Pumping companies, the new de-
veiopments in the down town section
and steady increase in output, until
5000 tons per day was the average in
the final quarter of 1901, which was
the record year for Leadville, SO far
as tonnage is concerned.
In 1902 two clouds obscured, in part,
the horizon of Leadville, renewing the
impression that the rewards of the
good are not to be looked for this side
of the grave. The American Smelling
and Refining Company commenced,
carly in the year, to restrict its ore
purchases, causing leasers and mines
TO shut down for want of steady mar
ket. A fall of twenty per cent. in sill
yer, lead and copper quotations in the
open market, accompanied by drop of
sixty per cent in the smelter allow
ance for copper in ores, was an added
impediment. But, despite all this, the
output of the camp has been well main
tanned, the chief loss thus far noted
being a fall in the amount of dividends,
the 1902 figure standing at close to fif-
ty per cent. of the grand total for
1901, which was second only to that of
Cripple Creek.
There is another change in the mine
situation which gives a silver lining to
the present cloud and places 1903 in
the ascending scale. The reasons for
the hope that is in us, briefly stated
are these:
The smelter trust has expended $780,
100 for enlargements and improvements
at its Arkansas Valley plant in Lead
vile. which can now handle 1,200 tons
per day In addition to this, to supply
the demand for iron-silver luxes at
the Denver and Pueblo plants, it has
declared off all treatment charges on
such ores up to $3.50 per ton. Where
the net value to the miner exceeds
that figure a graduated charge is ex-
acted. This concession will largely in
crease the present shipments of such
material. often extracted in connection
with the higher grades.
The Yak tunnel, Denver-Leadville-
Kansas City enterprise, is in from Cal
ifornia gulch 10.500 feet. and 200 feet
more will place it in the heart of the
gold belt 1t assures cheap drainage
and cheap transportations. These COM
bined will result in a steady increase
in the supply of gold-silver ores. with
a good effect upon the market for the
silver-lead material. Awaiting the
completion of the tunnel, many of the
gold-producing properties have recent
ly curtailed their output The cele
brated Little Jonny. good for LOCO, 900
per annum in dividends since 1894, will
this year pay abost S500000. the result
of lessened shipments from its lake of
ore With the opQning of the Yak tun-
mel it will rise at least to the former
mark.
Zinc shipments from Leadville are
gaining in volume and value, and will
continue to do so. The two concentra-
ton plants at present in operation will
be assisted by two more in 1908, that
of the Resurrection company costing
5000 900.
Last. but by no means least. comes
the recent developments on Progress
i've hill-a new Leadville, within 1000
feet of the location of the Little Pitts
burg. The Cady mine. the property
of the Progressive company, has a
shaft down $50 feet. where the original
high grade carbonate formation has
been cut The miners have progressed
in the blanket vein over 1,400 feet
without reaching bottom. and to the
right and left, so far as the levels have
been run, 1t is a sea of ore. ranging in
value from s46 to $50 per ton. the items
being from forty-eight to seventy-three
per cent lead, a varying quantity of
silver and from $1.25 to S. per ton in
gold. The new area, on the western
/ drainage of Big Evans gulch, contains
300 acres. The Fryer Hill Mines Com
pany and the Standard Oil Company
are now engaged in sinking shafts.
Four different smelter concerns have
placed bids for the output, as one ton