The Idaho Springs siftings-news., 1905-08-19
SIFTINGS>NEWS ( Soaass xosass s.s
Want ORE SUPPLY
GOLDEN SHELTER AGENTS AFTER BIG
MINES HERE.
ARE GOING AT IT RIGHT THIS TIME
WILL REoRoRNizE AFTER SEPT, AND
RUN AS PRIVATE PLANT.

The persistent rumors circulated
throughout the mining financial field of
both Denver and Gilpin and Clear Greek
counties to the effect that the resumption
of the Golden smelter is but question of
a short time, brings to the surface the
fact that negotiations are pending be
tween agents of the reorganized srnelter
company and the owners of several of
the best aud largest producing mines in
Gilpiu and Clear Creek counties, among
which are the Old Town, Lotus group
and the great Saratoga properties. While
some may look upon this statement as
somew hat visionary, the source Of this
Information can be unquestioned, but al
the same time the parties to the transae-
tion refuse to deny or affirm the story at
the present time.
1t is fact conceded By mining men
best informed on the existing conditions.
that the Golden smelter cannot be sue
cessfully operated by treating custom
ores alone, and to assure permanencY TO
/ the enterprise il must have constant aud
adequate source of ore supply. and to
4 gain this must of necessity secure the
| control Of one or more OF the largest pro-
dueers. Idaho Springs being the nearest
shipping point, the smelter people uainr-
ally seek this d strict for an ore supply of
the proper character and volume. The
advantages to be derived by the owner
/ ship or control of the properties under
consideration would be Of incalcnlable
/ value as il would insure an ineXhaustihle
supply Of ore aud the success of the
enterprise would then be unquesiioned.
The custom ore handled by the plant
would then he only an incident in their
smelling operations
In anticipation of the resumption Of
operations by the smslters the Golden
! Globe says in part:
During November and December. 1904.
business was good, and the books show
that the company cleared $4,000 during
those two months. The company had
purchased the dump at the old smeltef
west OF the presen, plant for $50. 900 and
were to pay for /, at the rate of 5000 per
week, and on failare 10 pay the dump
was 10 revert 10 former owner. This old
dump is exceedingly rch in mineral.
owing to the careless way Of handling ore
in use years ago. The material IS a great
help in the way of iiux besides the min
eral values in the dump. Thr days run
on the stuff taken from this dump real
ized $1,000. this was the last run before
the shut down on May i3. Ioo5. During
January, February and Mach oi this
year, il was impossible for the manage
ment to procure ore on which to run the
smelier, but the expenses were just the
same as il full supply OF ore had been
on hau5. and during that time. all that
had been made before that was used mp,
leaving the company in a tight place
along in April. A carload OF matte worth
from 5000 to feooo IS shipped from the
smeiter every three days when running
at full capacity, and on this shipment The
company can draw S. per cent OF its
value so that the money can be turned
over rapidly, provided tina; full and
regular supply Of ore can be secured for
the furnaces. There has been disagree
ment between the eastern men and the
local members of the company. There
are about 90 tons OF very rich stuff in the
bottom of the furnaces that will run
about $500 TO the ton. and IL taken out
and sold it would pay all Of the company 5
debts.
There is scarcely doubt but that the
Golden smeiter. If run on a business basis
with plenty of ore is paying business
and there are men Of capital who are
ready to take hold Of 1t if the present
company could settle their differences
and be in a condition TO transfer their
lease. 1t is the opinion of well posted
men that the eastern members of. the
company will have the matter settled be-
fore they go home, and daily meetings
have been held lately for this purpose,
and that, when the present difficulties
are settled, the Golden smelter will re
sumo on sounder and better basis than
il has heretofore been run. Plenty of ore
can be secured, and with good business
management there is good money to be
made. We hope soon to be able to an
nounce that the smelter will blow in for
an era Of prosperity, such as it has not
known before.