Gilpin observer., 1905-11-30
NEWS FROM The MINES and MILLS


reau places the aggregate value of the
products of the manufactures of Ari-
zona for the last year at $2S, ,0S3, 1872, as
against $2O,43S,9S7 for 1900. Copper
refining is the principal industry rep
resented in the bulletin, the production
amounting to $22,761, ,9S1. The capital
employed in 1904 amounted to $14,.
395,656. There were 1875 wage earn
ers employed, and wages amounting to
$3,963, ,24S were paid to them.
The controlling interest in the In
dependence Consolidated property, to-
| gether with the Hull City Placer. has
passed from Eben Smith and w. P.
Durham to J. T. Milliken of st.
Louis. The selling price is not given
out, but it is thought to be about
| $750,000. The sale was made Novem-
Der 23rd, and all of the old directors
except w. S. Montgomery resigned.
Mr.. Milliken, it is understood, will APP
point new board at once.
The Pay Day Mining Company,
which is controlled by A. T. Reynolds,
has let contract to Thomas Lotus of
Durango to build a spur from their
mine to the line of the Rio Grande
Southern railway. The spur will be
two miles in length and will strike the
west of Durango. The mine has been
in active operation for little more than
two years. but during that time it has
become one of the best producers in
the La Plata mountains. The proX-
unity of bed of coal to the mine led
experts TO believe that no mine of any
value could be found at this place.
Mr.. Moore of New York City, private
secretary to Senator Elkins, one of the
heavy stockholders of the Dunderberg
Mining Company, operating the Terri
Bile group, has been at Georgetown ad-
justing the judgments against that
mine, the amount of which will exceed
100000. AS soon as the details have
been completed it is understood that
the property will be developed on a
scale greater than ever before. Pre-
vious to the litigation more than fifty
men were employed. Ore reserves
have been uncovered and the property
placed on paying basis. The com
pany mill is running full time, and last
week six carloads of lead and zinc con-
centrates were shipped to the Denver
smelters.
In the Georgetown district men are
clearing the old workings on the Mag
net group, recently acquired by
Thomas Rodda and associates of Idaho
Springs. The old Doric tunnel power
plant has been put into commission
to allow of an examination of the lodes
cut in by that bore. The purchasers
of the Magnet have completed negotia-
tions with the Doric trust of London,
England, for permanent right of way
for the development of the Magnet
group. At the time of the suspension
o. work on the Doric tunnel the head
ing had penetrated Magnet ground,
and it is expected that a good tonnage
will be marketed within short time.
This enterprise is being financed by
eastern and southern capitalists.
From the proceeds of the sale of the
Gold Coin mine dividend OF 500, 900
was paid by the Gold Coin Mining and
Milling Company November 25th. The
dividend was at the rate of 10 cents
share and was the thirty-third paid by
the company, which during its history
has disbursed in dividends approx
mately S1,33O, 600 Between S15O,OOO
and 100000 was paid by the Gold Coin
company TO the Granite company for
the Gold Coin mine. The deal in
cluded the famous Gold Coin shaft in
the Cripple Greek district. and adjoin
ing property to the extent of about
fourteen acres. l lie trOlu lOln company
still holds about 1875 acres of choice
ground, including the Monte Rosa,
Morning Glory and North Gold Coin
property.
The Cripple Creek correspondent of
the Denver News says: The Banner
Gold located on Rosebud HILL is to the
front with one of the richest strikes
made in many months in the Cripple
Creek district. Five feet of ore liter
ally filed with sylvanite has been
opened at IA distance of 325 feet east of
the shaft. The values are in the gran
ite. and the vein is forth and south.
the Banner will have l40 feet of shoot.
1t is seventy feet north of the Mary
Nevin property, that will also get the
same shoot and also the same dis
tance south of the Anchor. that will get
about seventy feet of the vein before ii
leaves its line and again enters the
banner territory. The present opeI-
ators only fired one round of shots
when they We're forced TO suspend op-
erations because of the heavy flow Of
water encountered. The controlling in
terest in the lease is held by the Equit.
able Finance and Development Com
pany. and is known as the G. G. Jack
son e. Co.'S lease.