New-York tribune., 1902-03-16

GRANITE MINES NEW owNERs-CoMPARIsoN
WITH AUSTRALIAN GOLD FIELD.

Colorado Springs, Col, March II CspecaD.-
Charles L. Tut. Spencer Penrose and Charles NJ
MacNeiu. officers OF the United States Reduction
and Refining Company. Of New-York and this city.
to-day purchased the Granite Mine at Cripple
Creek, paying therefor $4,000. The owners
took charge at once. and sent out their first ship
ment of seventy-two tons OF high grade ore. The
mine is developed depth OF $50 feet. and is
OF the richest properties Battle Mountain. It
lies Immediately contiguous to the Portland. there
by covering Of the large veins OF that prop
erty they emerge from Portland territory. Spen-
Penrose is well known in the East. being a
brother Of Senator Boise Penrose. OF Pennsylvania
Lnarles D. Walcott. Director OF the United States
Geological Survey, at Washington, has appointed
Dr. w. S. Ward, Of Denver. to collect statistics
upon the annual gold production OF the Cripple
Creek dia trict DIR. Ward has already entered upon
his duties, and Is receiving official returns from all
the mines Of that district upon the production Of
1901 This is the first official recognition which the
United States Government has made of Cripple
Creek in the way Of collecting statistics on what
the great gold camp is doing year by year.
Stockholders OF the Elkton Consolidated Gold
Mining Company agreeably surprised last
week by the action Of the board OF directors IN
declaring a quarterly dividend OF four cents
share capital stock OF 100000 shares. The dis
bursement amounted TO 100000. and will be paid
March 20. This brings the total dividends paid by
this company in years 10 S.404460 81 It being
the ffty-frst dividend of the company.
An event Of unusual interest the annual
meeting Of the stockholders of the EI Paso Consoli-
dated Gold Mining Company, held yesterday, at
which President S. S. Bernard gave out some Of
fetal figures regarding the standing of this Cripple
Creek mine. He stated that the holdings OF this
company located TO give them 1900 feet
Of undisputed vein rights along a series OF rich
gold bearing veins In the last year, while explor-
ing the tunnel level at depth OF SS5 feet. body of
measuring twenty-five feet at it's narrowest and
forty-two feet at the widest point, discovered
The from $50 to 1910 a ton and every pound
Of rock is being shipped to the smelters. The mine
produced $3O74S A in the last year and paid divi-
dends amounting to $l0425O. of which $4,000 is rep
resented in the stock dividend paid last fall.
The failure of Frank c.. Andrews president Of the
Detroit Savings Bank of Detroit made Itself fel
this week in the Cripple Creek district by the clos
owned by Andrews and a few capitalists OF Detroit
They have spent 100000 uDon 1t in the last three
years.
The greatness OF the Cripple Creek district is In
dicated at this time by the official returns on the
gold production of Westraia. the leading gold dis
trlct or Australia, In the year 1901. Statistics show
the gross output was $50 267 against S2I LOIS
900 from Cripple Creek in the same period The
Westralian fields comprise three hundra5 sanS
of Cripple Creek is only thirty SQUARE miles
Westralia is in its fifteenth year; Cripple Creek
tenth year produced only IS S44 OIL as against s24
US.GO In the tenth year of the latter. |
The annual meeting Of the stockholders of the
F1ndley Gold Mining Company held last week
In this city and the following board of officers was
elected: John II. Hobbs, president and treasurer:
J. J. Key, vice-president and secretary. and w
X. Dudley ]. s. Tucker, F. L. Ballard Georee Rev
Buckman and D. A. Richards. directors ~
The New-Zealand Consolidated Company own
Ing valuable acreage Bull Hill began driving
new level from the six hundred foot point in ths
main shaft to open the rich chute disclosed in
from fifteen 10 twenty-five tons week the ore
running 500 ton In gold