Gilpin observer., 1905-02-16
Immense LeadvilIe Deal.

reports of great mining deal at Lead.
vile, in regard to which the Denver
News of the 9th inst says:
A deal involving between $4,OO0,O00
and $5,OOO,O00 has been closed by
Judge Frank w. Overs of this city,
with syndicate OF London capital
lists. Eight hundred acres of ground
property of Judge Overs, will change
hands as a result of contract which
was signed in New York about three
weeks ago.
This transaction Is one of the larg-
est that has taken place in Leadville
property for years, and Is of the ut
most significance both othat camp and
to the state, as 1t assures the develop
ment of hitherto virgin territory.
For the past year the United Mining
and Development Company of New
York has had under lease from Judge
Overs 320 acres of ground adjacent to
the present purchase. That company,
under the supervision of Robert b.
Stanton, the celebrated mining expert
of New York, has put down drill holes
to the limestone formation, one $50
feet and the other 500. And now, on
the strength of these drill holes, the
New York company will Immediately
unity to what is known as drill hole
No. !.
Robert B. Stanton is also employed
as expert for a wealthy English syndi-
cate, by whom he was sent to Sumatra
recently for the purpose of examining
mining PROPERTY. He discouraged the
Sumatra investment and suggested
that the foreign capital be turned into
the United States-in fact, into Colo
RADIO. He recommended Judge Overs
property on Rock hill. An investiga-
ton followed, with the result that
meeting was arranged in New York
between representatives of the English
syndicate and the owner.
The contract that was finally en-
tered into provides that a shaft be
sunk to a depth of about 500 feet on
each 160 acres of the SO0-acre tract.
Payments will be made at the rate of
about $1,000 per acre on each 160-acre
block as the shaft is completed. In
other words. the contract calls for
series of five payments of 100000
each. Work on the first shaft will be
commenced Immediately. 1t Will be
put down on the Frank" claim.
1t Is also stated on excellent author
ity that the same syndicate is endeav-
oring to obtain $40 acres additional of
Judge Overs propery lying due north
of that now under lease to the United
Mining and Development Company,
but as yet this deal has not been
closed
Judge Overs owns about 800 acres
of ground IN this part of the Leadville
district. Besides his big contract with
the London syndicate he has. during
has recent trip to the East, leased
eighty acrps-tha hal nf hA
Frank claim-to a party of New York
financiers. This in itself would be u
large deal. but the extent Of his 800
acre lease and bond quite overshadows
II.
In ali, the past two week have been
most eventful for the Rock hill district
of Leadville. which was originally
opened up by the now famous Reindeer
mine. owned by John F. Campion and
associates. The strike which was
made In that property was soon fol-
lowed by others of almost equal i'm
portance. There was the Dome, the
Bessie Wilgus. and last week the Muir
ply opened up eighteen feet of rich
chloride ore. The last named is owned
by w. G. Brown of the Western Bank
of this city. John Harvey, Jr; Maurice
Starne and John Murphy, the three
latter of Leadville.
These big strikes have attracted
widespread attention. and have been
directly responsible for the introduc-
ton OF large amount of eastern capi-
tai into the state. and especially into
the Rock hill district.
For example, Frank Bulkeley of this
city has. within the past few days.
made arrangements for the sinking of
shaft on large tract of land imme-
diately adjoining the property of the
ROCK Hill Consolidated Mining Com
rany on the north. Mr.. Bulkeley is
backed in this enterprise by number
OF New York capitalists.
The controlling interest was pur-
chased last Wednesday from Lieut..
Gov. Jesse Mcdonald and his associ-
ates. by Jerome b. Wheeler OF Manitou
and New York, together with some
eastern capitalists. The consideration
is said to be something over 100000
Friday last articles of incorporation
were filed by the Rock Hill Mines Com
pany, which has secured lease on the
ground OF the Rock Hill Consolidated
Mining Company and some adjacent
claims. This company is being financed
by Boston and Springfield capitalists.
who will sink the shaft which is al
ready on the property 100 feet deeper.
making 1t $50 feet. And from this
shaft they will prosecute extensive de-
velopment work.
Numerous shafts have been started
on Rock hill in an effort to open up
such bonanzas as the Reindeer. Bessie
Wilgus and others. In fact, Leadville
has seen n period OF unparalleled ac-
tivity during thespast few months. and
the latest deal Of Judge Overs with the
London syndicate will open up to that
camp brighter future than even the
most sanguine have dared dream Of.
When the English company starts act.
I've work, together with the other new
enterprises which have been under.