Gilpin observer., 1905-11-09
NEWS FROM THE MINES and MILLS

distrust, take Cripple Creek. Since
1871, say fourteen years, the Cripple
Greek district, about six miles long by
four miles wide, is said to have pro"
duced $139,000,000 worth of gold and
incorporated Cripple Creek companies
are said to have paid $35,0G0,000 in
dividends, irrespective of the profits of
individual operators and lessees. That
is one side of it.
Look at the other side. In the
earlier days of Cripple Creek there
were hundreds of questionable proper
ties and companies (many OF such
companies being Matched in the EasD,
trading on the name and fame of Grip
pie Creek, which properties and com
panies, for variety of reasons, could
never amount to anything. Apparently
nothing was too wild cat to find ready
takers and throughout the whole
United States very many millions OF
shares We're purchased, at prices
ranging from few cents upwards,
with less investigation than the ppr-
chaser would give to the purchase of a
new pair of shoes, or horse. \ large
proportion of such companies We're too
inherently rotten to get listed on any
reputable stock exchange. Some, not
quite so bad, did get listed FOR time,
only to be struck Off OF the stocks
which continued listed. some of them
were manipulated ON the exchanges,
by the insiders at the expense of the
outsiders
"Hill's official Cripple Creek Manual
published in 1900, contains the names
and particulars of no fewer than four
hundred and ninety-six (496) Cripple
Creek mining companies. Where are
hD ;.,,
to-day? On the junk pile The pro-
moters and brokers worked the public
with Cripple Creek stocks to a finish
They killed the goose that laid the
golden egg. They forfeited and de
stroyed public confidence, which for
several years past they have been
vainly trying to regain.
To-day Cripple Creek as an ore pro-
ducing district is probably in better
condition than ever befosa in its his
tory. 1t has recovered from its labor
troubles of 1903. Its gold production
for 1904 was upward of S14 900, 900. Its
gold production for 1905 may equal
that of 1900. viz, upward of S1S.00O,-
900. But the Cripple Creek stock mar
ket apparently cannot be galvanized
into life, for the general public. profit
ing by past experience, decline to
again come into the game by purchas-
ing the surviving stocks which have
merit, and many of which are based on
ore-producing, protit-paying mines.
They cannot depend upon having a
square deal The only connection
the general public now wants with
Cripple Creek is. if possible, 10 realize
a little cut of the Cripple Greek stocks
with which they are loaded up and
a "a naT iaI
of doing so is very remote contin-
gency.
The same separator class OF pro-
moters and brokers that killed Cripple
Creek stocks is now devoting its en-
ergies to southern Nevada where the
Cripple Creek bunco game seems
likely to be repeated on new genera
ton OF credulous, contiding, gullible
spectators with gambling propensi-
ties.
In few years at most the Youngest
of you will finish your four-year course
at this school and enter upon your Sc
lected life's work in the mining indus
try.
Never forget one thing. viz. that
though you leave this school as 'chock
full of science as Dickens Captain
Cutie regarded old Sol Gills. the math-
ematical instrument maker, to be. all
that you have learned there, theoret-
ically and technically. is merely a ba-
sis for the practical knowledge YOU
will have then to acquire by actual ex-
perience in the mining field.
''lt will largely rest with each of you
whether You identify yourself with le.
gitimate mining, or drif, into associa-
tions with those who run the other
kind, inimical to yourselves. your fu-
ture career and professional standing.
In these days of frenzied finance.
rake-off and graft in high places. as re-
Gently exposed in banking insurance
and other companies, and of notorious
dishonesty and general rascality in the
promotion of bogus mining companies
and mining stocks, II is reassurng that
our beloved President - Theodore
Roosevelt-is holding up high ideals
of public and private citizenship for
the guidance of all. but in particular OF
young men just preparing for profes-
sdonal ana business careers. You. in
dividually. cannot do better than
adopt as your life's motto the square
deal so forcibly advocated by Presi-
dent Roosevelt.
I'm conclusion trust that every one
of you, in your future careers, may do
credit to the mining industry, to your
chosen profession, to this school and
to yourselves"