Idaho Springs siftings., 1902-11-22
JUST AS
BIG AS
OTHERS
Idaho Springs Home Company Becoming
One of the Strongest In the District.

Idaho Springs Home Company Becoming
One of the Strongest in the District.
Leadville and Cripple Greek have both
demonstrated the fact that mining COM
pany owned and operated by home peo-
pie is the most successful. Both of the
institutions of that character in these cit
les are paying rich dividends and now it
begins to look as if Idaho Springs home
company would be in line before very
long with the same good fortune.
For over year Siftings kept hammer
ing away at the idea that the people
ought to organize a home mining COM
pany. 1t finally succeeded in interesting
the people in the idea and today the Ar
gus Mines and Tunnel company has one
of the largest acreages and best layout of
mineral land in the district. Its claims
cover over 400 acres of mineral bearing
ground and comprise thirty-one claims,
two tunnel sites, mill site, tunnel driv-
en- over $50 feet, over 400 feet of under
ground workings, engine, blacksmith
shop and everything needed in the con-
duct of mine.
The holdings of the company alone
practically make an investment in the
stock worth what is asked for it and the
conservative conduct of the property
shows what a home company can do.
There were but twenty claims when the
purchase was made. At the present time
the company has thirty-one claims, has
added another tunnel site, has driven the
tunnel over $50 feet, driven drifts to the
extent of nearly 100 feet, put in track,
cars, engine, blower and everything that
is needed, and the total cost since the
original price was paid, has been less
than s., 900.
This is looked upon as one of the best
records ever made in the district. The
secret has been economical management
and no salaries to officials except for SER
vices performed.
Here is one of the strongest evidences
of the conservatism of the company. A
large block of stock was sold to Philadel-
phia parties who have listed it on the ex-
change in that city, visited the property,
became even more than pleased with the
prospects and as a result today is selling
on the exchange there for fifty and fifty
one cents per share. The board of direct
ors here at home, however, have not yet
raised the price in keeping with the spec
ulative idea on the Philadelphia exchange
although the best mining men in the dis
trict state that they would be warranted
in so doing as the large acreage of prop
erty and the prospects for the company's
future would guarantee that a fair selling
price should be so cents per share
The officers of the company are all
home men and they declare that the price
of stock shall remain at thirty cents per
share until the great Argus vein is cut,
when it will go to fifty cents and perhaps
81 per share. This vein is giant in size
and has shown some wonderful assay
values almost at grass roots. The same
can be said of the Enterprise and other
veins along the course of the big tunnel.
AS stock proposition the Argus has
been one of the most successful in the
entire district. A majority of the stock
was sold right here at home and was or
iginally placed on the market at twelve
and one-half cents per share. Then it
jumped to twenty five cents and then to
thirty cents, where it remains
1t is stated that the Argus vein is very
close to the breast of the tunnel now and
an early investment looks so good that a
great many local people are adding to
their holdings in the stock.