Gilpin observer., 1906-03-15
NEWS FROM the MINES and MILLS

W
pany is in position to practically
dictate the price of the metals it
smelts, and 1t has therefore been able
to force up the price of silver and lead.
Before the merger of the Western
smelling plants each smelter marketed
it's own product. The several corpor-
ations were bidding against each other
for market When the merger was
effected the purchaser was forced to
deal with practically one concern, and
that concern amply able financially to
take care of its interests. The result
was the advance / have spoken OF.
The miners have benefited because we
settle with them on the basis of the
market quotations for silver and lead.
AS an example of the way the prices
of these metals have been advanced
study these figures:
In December, 1902, silver sold as
low as 4S cents per ounce, and the
average for that year was So cents. In
1903 the average was 53k cents, in
1904 81 cents, in 1905, 60 cents, and
for March of 1906, 65 cents.
Lead averaged under 4 cents per
pound, or $50 per ton, for years, and
it is now selling for $105 per ton.
While we have pushed up the mar
ket price of the metals we have re-
duced the smelling charges until they
are now lower than at any time in the
history of the state. That statement
can readily be verified by any one who
will take the trouble to investigate.
The people of Colorado should be op-
timists. The surface of our mountains
has barely been scratched. How many
more Cripple Creeks and Leadvilles
a a hidden a In mi ta1
vide? Only time and the faith of the
prospector can answer that question.
For my part believe our children and
our children's children will witness an
ever-increasing output from our
mines.
Capital is needed. however, to do the
work. Take the case of Leadville. A
few years ago Sam Nicholson came to
us with a story about second con-
tact in that camp which would pro-
duce fabulous quantities of ore. We or
ganized the Western Mining Company.
Diamond drills revealed the second
contact, we unwatered the downtown
district at great expense, and Lead
vile experienced its second birth. The
mines which were thus opened up are
now shipping 10000 tons of silver-lead
ore monthly. These shipments benefit
almost every camp in the state. for we
mix me ores of Leadville with the sui
phide product of other camps and
thus economically extract the precious
metals.
Only men of wealth could have af-
forded to undertake the task of finding
this second contact. In fact. many
men of ample means had refused to
take the hazard.
1t all shows how we are dependent
one upon the other No class can stand
alone. Prosperity to be genuine must
be general.
The men who are at the head of the
American Smelling and Refining Com
pany have no desire to pose before this
community rs philanthropists, but
they are anxious to be regarded as
good business men. We not only de-
sire 10 treat our customers fairly, but
we want TO make our men contented
and happy. We have made some ex-
periments along the lines of profit
sharing and they have proven so sue
cessful that we propose to increase
them. These experiments commenced
in 1904, when. after paying the divi-
dends on our common and preferred
stock. we set aside a certain percent
among our employees above the rank of
foremen. We distributed about $780,
600 that year, and in 1905 this was in
creased to 100000. Last January we
admitted all our employees TO this prof
it-sbaring. and the sum to be dis
tributed this year will far exceed that
o. last year.
We do not put these expenditures on
our books under the head of charity"
but under investment" The wise
business man shares his prosperity
with his employees. Then the latter
feel direct interest in the tasks set
for them. and the result is that the bus.
mess grows and the business mans
profits increase.
| believe the man who owns his own
home and who earns enough to prop
erly feed, clothe and educate his chill
dren is a more efficient employe than
the man who is clinginS to the ragged
edge of existence. ] like TO have my
men come TO work with n song on
their lips. because. viewed from
purely selfish standpoint, they will do
more work than the men whose hearts
are not so light.
This moralizing naturally leads to
the inquiry: How can YOU better the
condition of the great mass of our peo-
pie? Without going into long discus
sion of economics. | want to commend
the work of two state institutions
the School OF mines and the Agricul.
tural college. These schools should be
dealt with generously. not alone by the
state. but by the rich men who live
within our borders. The graduates OF
these institutions are going TO have an
important part in the work of placing
Colorado in her proper place among
the sisterhood of states. l do not
mean to belittle the work of the State
University and other institutions of
higher education. but | fear the peo.
pie do not appreciate properly the good