Gilpin observer., 1906-02-01
Predicts Mining Prosperity.

A. +. Wuensch, conservative and
experienced mining engineer of Den
yer, who has lately been over consid-
cradle part of Colorado, in an inter
view, gives some interesting facts and
optimistic views regarding the status
of the mining industry. He said
"A visit to some of the more promi-
nent mining districts of the state
shows an increased activity in mining,
and it requires no prophetic imaSina-
ton to see boom with the approach
of the season, when with greater COM
fort and economy, prospecting and the
reopening of long-abandoned mines
can again be prosecuted.
There is no question but that
great deal of eastern capital as well as
home money, will go into Legitimate
mining ventures this year. Investors
of the East will be attracted to mining
largely through the great advance in
the price of stocks of all industrials
founded upon the metals. The ad-
vance of fifty to two hundred per cent.
of such stocks as the American Smelt-
ing and Refining Company. Amalgam-
ated Copper, Anaconda, Colorado Fuel
and Iron, Federal Lead, etc, cannot
ldll dllenllOu lHt SOulNS
of the metal products, and cause in
quiries into the condition of the min
ing industry by an investment-seeking
public.
THE western people will be more
strongly attracted to mining by the
high price of all the metals in the
crude ore. They now see profits
in many base metal mines that years
ago did not pay operating expenses.
One foresees in this condition the cen
ter of mining interests swinging
again. this time from gold quartz min
ing back to silver and base metal min
ing And it is gratifying, as the base
metal mines are the great producers
of tonnage, require larger working
forces with large concentrating mills
and smelters, big fuel and supply de-
mands and much transportation OF ores
and materials. The conditions are ripe
for great change in Colorado for the
better, favoring greater industrial ac
tivity. with no danger of eXcesses or
overproduction.
Foremost in the base metal produc-
ton of Colorado to-day is lead, with
an annual output of about S5.0OO,OOO
In 1886 the average price of this metal
was SOS per 100 pounds. The produc-
ton of the United States was 115,0OO
tons. and the close of the year saw
over 10000 tons in stock and no mar
ket. Last year the production was 322.
500 tons with absolutely no stock in
hand and n price that advanced gradu-
ally from January, 1905, TO January,
1906, from si.55 to $500, and firm
market.
Zinc. every pound of which sur
faced by Colorado mines ten years ago,
was source of loss, as from 30 to 80
cents per unit penalty was exacted by
the smelters for their metal in excess
of a small field maximum, is now an
important source of revenue. over Si,-
100000 worth of the previously objec-
tionable mineral was produced last
year. And the spelter market calls for
more at increasing prices. From 1S2.-
900 tons in 1904 the output increased
5000, 900 In 1905. and the price from
$5.1O to $500. Stock in hand, nil.
Cooper has also advanced in price
despite large increase In production,
and with no stock in hand Is quoted at
1876 against an average price OF 1882
during 1904.
Equally gratifying is the condition
of the markets for silver. iron, man
ganese, tungsten, bismuth and other
metals produced In Colorado.
"rhe person who cannot foresee In
creased activity and consequent pros
perity of this state is surely very OBJ
tuse"