Durango semi-weekly herald., 1902-11-27
$5O,0oo,ooo
FOR THIS
SECTION
(Denver Republican,

tion company. and the Bear Creek
Mining Il Reduction company Will De
| filed within a few weeks. Their ag-
gregate capitalization Will be S5O.OOO,-
600 which is said to have been sub
| scribed The four corporations VIII
develop and furnish transportation to
new areas of southwestern Colorado
| northwestern New Mexico, southeast
ern Utah. and central Arizona. Den
yer will furnish supplies Tor vast
territories with natural resources.
| The route between this city and the
Pacific coast as planned would be 25O
miles shorter than any other railway
projected or already in operation.
The railroad is generally claimed to
be a Gould project which will, when
completed. furnish a western outlet
for the Missouri Pacific-Denver & Rio
| Grande systems. and also for Goulds
Texas Pacific system. The route VII
extend almost in direct line from
Denver southwest to San Pedro har-
Dor on the coast of Southern Califor-
mia. The coordinate corporations are
| expected to develop the coal beds in
the sections through which the rail
road will pass, utilize the iron deposits
which have lain dormant for lack OF
transportation facilities, and also open
up the richest gold bearing sections of
| Colorado and southeastern Utah.
Plans for Great Enterprise
Are Given to the Public
Charles II. Gage, who has been one
of the chief promoters of the combin-
| ed enterprises, returned from the
east a few weeks ago and announced
that he had been promised all the
assistance required There is no
doubt, he says that each one of the
enterprises will be inaugurated early
next year and carried through with
out delay.
Some of the best financiers of the
east he says, are interested in the
companies. including in addition to
he Gould representatives, j. f.
Krepps OF Pittsburg, general western
representative of Douglas, Lacy &
Co, New York bankers; George c,
Carson of Pittsburg, inventor of the
Carson process for the manufacture OF
steel and many times millionaire; ;
T. P. Shonts of Chicago, president OF
the Illinois. Indiana & Iowa Railway
company. and also heavily interested
in eastern and middle state railways.
Charles + Mcconnell president OF
the Smelter City bank of Durango,
Colo is interested in the companies,
together with other capitalists who
have been holding coal and iron lands
in the southwest for many years, cher
| fCb ha hnnn thnu
might develop them.
Most of the capital has been pledg-
ed in the east. says Gage, and title has
been acquired to many acres OF the
best coklng coal land in the vicinity
of Durango. southeastern Utah and
northeastern New Mexico. to thous-
ands of acres of the superior timber
OF Mogollon section in Arizona. and to
he vast iron deposits in southern and
central Utah. Much of the latter is
manganese. having no peer anywhere
in the United States.
Route of the New Railroad Outlined.
The new railroad as planned will
commence, on the northeastern end,
at Creede. follow the Rio Grande up
to its head and there open up the
Bear Creek mining district. TIL,
principal camp in the district will be
known as Gold Gin. This section car.
ries immensely rich deposits OF tel
iurlum ores but the values have been
lost in smelling processes. The de
posits lay dormant except for spasmod-
lc efforts made by poor prospectors to
make them pay, which were inaccessi-
BILE partly on the inaccessibilitys of the
district and partly because there were
no known processes for saving the
gold values. Leaving the head of
Bear creek this new line will strike
the head of the Vallecito, on the con.
mental divide of the San Juan range
and following this stream have a wa
er level 10 miles to Durango.
From Durango south the road will
follow the Animas river to the iunc-
uon of that stream with the San Juan
aifording railroad facilities to the
fich agricultural and fruit growing re
ston of Pennington. n NJ. and Mon
tezuma county. Colorado.
In the vicinity of Pennington will
be located the steel plant OF the South.
western Fuel G Iron company. to be
built on the most modern plans and to
utilize process for the manufacture
of steel which is the sole property OF
It's inventor. George w. Carson
These patents are said to enable a
manufacturer to produce steel and
IRON products. given the natural re.
sources cheaply. for one-half the cost
Of making the same articles by any
OF the processes used at Pittsburg or
any other steel works in the world II
is proposed bv the promoters to man.
ufacture at the Pennington plant rail.
road rails. and merchant and struct,Ir-
al iron and steel. and the case.steel.
truss railroad tie, which is the inyen.
tion of Mr., Gage The geograpbicoI
location of the plant is counted on to
enable the company to supply the ori-
entail, west coast and South American
markets with steel and iron products
var below the cost of transporting
them from other American plants.
Following the San Juan river west.
7 ward the new road is to have
branch into the iron fields of Utah
winch is TO furnish the Farpin o.or