Gilpin observer., 1905-04-06
NEWS FROM THE MINES and MILLS
British View Of Colorado.


The last issue of the Anglo-C Colorado
Mining and Milling Guide, a London
publication of the standard class, de-
votes considerable space to mining in
Colorado. The tone of the comment is
decidedly favorable and is accompa-
MED by dividend announcements for
the Tomboy, Stratton's Independence
and Camp Bird mines. The Tomboy
group, near Telluride paid a. dividend
of l shilling per share in December,
and is quoted at fifty to seventy-five
per cent. in excess of par value, which
is $5 per share. The Running Lode,
Gilpin county, while not called on the
Exchange, is known in London as a
gilt-edged investment which has al
ready paid back to the London COM
pany much more than their original
risk. It's dividends this year will be
nearly $250,000.
The Camp Bird mines, Ouray dis
trict. earned $131,3G5 net in January
Of this year. as the proceeds of 6,S63
tons of ore. The last dividend was in
February, 1905, and was 9 pence per
share. Two of the Camp Bird direct
ors were recently in this state. says
the Guide, ON business connected with
negotiations for acquiring control
ling interest in the Imogene company,
but before any of the English COM
pany's money is expended the share
holders will have the facts laid before
them, for those in authority say that it
is the shareholders money that will
purchase-if it be purchased-the ad-
ditional territory.
For the Camp Bird a very advant-
ageous eighteen months option has
been obtained on the adjoining terri
tory which, when fully developed will.
it is believed, enormously increase the
| ore-bearing area. The Imogene COM
pany will receive very substantial
| cash payment if the option be exer-
cised, and, on the other hand, will be
relieved from the development expend-
iture which will be carried out by the
| Camp Bird under their own engineers
| advice. Whilst it is not, as Denver
paper states, accurate to say The
| Venture Corporation have effected an
|. advantageous deal for themselves and
the Camp Bird and have acquired for
| ty-nine per cent of the stockholding of
the Imogene Basin Gold Mining Com
pany within the last few weeks deal
is being negotiated on the lines that
the Imogene company by the disposal
| of this territory, will be richer by some
G80,000. and the London company on
their part will acquire about 500 acres
of the more or less valuable mineral
bearing land which adjoins the Camp
Bird. Valuable ore bodies have been
discovered by the extension of about
$4,000 feet of the tunnel from the Ou-
ray side of the range. In conjunction
doubtless with the satisfactory devel-
opments for some time past. and the
profitable work being done on the
Camp Bird the important pending ne
gotiations have caused the shares to
improve of late and are likely to keep
them very firm
The asking price for Camp Bird
stock in London is eighty per cent. in
excess of par. The face value OF the
shares is $5 each and considerable of
the stock is held in this city.
Stratton's Independence continues
to make an excellent record under the
| leasing system. The net profit for jan
uary, 1905, was $G9,430. The last divi-
dend, 6 shillings per share-s125, 900
was disbursed in February and there
is cash enough on hand for another
distribution. A profit of ten to fifteen
per cent. on the face value of the capi-
tal-$5, 200 .OO0-is predicted for 1905.
The company's banker in London re-
ceived draft for $4,000 on account of
January earnings. The profit in De-
cember. 1904. was $55,8SO. Holders are
asking about half the par value for the
shares-$2.50-which shows decided
improvement since June. 1904. when
the company was running behind.
The Guide notices the investment by
London capitalists in the Judge Overs
Rock Hill property at Leadville, of
which 1000 acres, valued at $1,000. 900,
are under lease to the syndicate. which
agrees to make five payments of $780,
600 each as rapidly as that number of
development shafts is completed. That
means 100000 per shaft of 800 feet,
to contact and below. The arrange
ment is of considerable value to the
undeveloped portions of the Leadville
district.-Denver News.