Idaho Springs siftings., 1904-02-20
RICH GROUP SOLD
SKATER INVESTMENT COMPANY PuR-
CHASE BRAZIL MINES FOR
$500, 900.
PLANS EXTENSIVE DEyEL OPREHT
FREELAND DISTRICT WILL BE GREATLY
BENEFITED BY SALE.


the new owners are preparing for extefi-
sive development Of the property, to be
inaugurated in very short time. The
plans comprise the installation Of fine
hosting plan, at the lower, or shaft No.
I, which is less ihan 200 feet deep, aud
the steady sinking of this shaft and driv-
ing of levels tbeieirom. As Siitirgs has
frequently noted, hne ore body has
been uncovered IN tie surface workin.
at this point, and it is beyond peradver-
,ure that the carry ing out of the plans
outlined will be speedily and richly IL
warded.
The group is situated in the center Of d
heavy producing section, IN the innt
diate neighborhood Of such weil-knoNn
properties as Tie Lamariine. Oneida,
10. Reynolds, isreeland, Gum Tree etc,
and comprises 10 lode mining claims and
a millsite, four Of the lode claims aud Tie
millsite being patented. There has been
large amount OF preparatory work done
IN the three shafts and an adit on the
Brazil vein. There are some so acres Of
fine mining timber on the property. The
ore is ulphide OF lead, carrying gray
copper and native silver, assays ranging
high in silver and with a goodly per
cen,age in gold Miilruns have been
obtained from shaft No. which ran sioo
per ton. All the mine workings show
good mineral.
The new company is composed of local
and eastern capitalists. The local officers
Of the company are: Lieutenant Governor
Warren A. Hsggott. presidentr Frsd. G.
Shaffer, secretary-;reasurcr and Mayor
George Riley managing director. This !.
an exceptionally strong personnel and
guarantees an intelligent, active and
econoulical administration Of affairs.
Governor Haggott during several years
past has had large experience III mines
10 this district AID has been very succ, -.
ful. He IS enthusiastic over the grea;
resources of the Freeland district. He Il
manager Of Tie Ffeelaud Extension, an
old and rich producer, and the news that
he is adding to his holdings in that 10.
cality will be received with satisfaction
by the citiz=ns of that camp.
Mayor Riley. who will supervise and
direct operations. has for years been
heavy and successful mine operator in
the Idaho Springs district. A great deal
of success aud prominence that This
district today enjoys is to be attributed
to the flith and efforts OF the locai
L. ,ka
foundation. through systematic develop
ment of prospects into mines, Of wealth
for themselves and their successors
notable instance Of this was the success
achieved by Mayor Riley and brother
upon the franklin. which they made
prominent producer, finally disposing of
it for a large consideration. Mr. Riley's
thorough acquaintance with the details
of mine operation, his knowledge of the
ores Of the district and experience as a
shipper, combine to make him valuable
adjunct TO the company.
II conversation with Mr.. Fred. G
Shaffer, the secretary and treasurer of the
company, we found him very enthusiastic
over this latest acquisition to his list OF
mining properties. Il have had my eye
on thai group for some time" said he,
''and it was only after considerable en-.
deavor on our part and the prefer Of
large sum that the owners consented 10
part with their property. Another factor
in the deal was Mr.. kennedy's being so
engrossed in his other mining affairs that
he coulG not pay proper attention to the
choicest propositions in the district Out
side the intrinsic value cf the ore already
found, the location OF the group, its
proximity to rich producers. and being
tunnels, certainly assure bright future.
Mr.. Shaffer is the hustling head Of
the Fred c. Shaffer Investment company
of this city and which has furthered some
important enterprises prior to this.
SiftiDgs takes pleasure in the success
achieved by Mr.. Shaffer since he retired
from the managing editorship OF this
paper In the newspaper field, he was
an aggressive and forcible writer, and he
has carried the same energy and power
into the practical work of unlocking the |
gold aud silver treasures of the Idaho |
Springs district.
The capital stock Of the company is |
1000 900 shares. par value 81 per share. |
OF this, 700, 900 have been placed in the |
company treasury and 100000 set aside
for promotion.