Gilpin observer., 1910-11-24
BIG COMPANY
REORGAN|zES

In last weeks issue of the Clear
Creek Miner an interesting article
appears dn connection with the visit
of the Sternberger brothers to this
and Clear Creek counties. These gen
tlemen are heavily interested in the
county, and in Russell Gulch, this
county. Samuel Sternberger, veal
thy shirt manufacturer CT Philadel-
phia, does not visit his holdings very
often, but his brother, Leopold, gives
the management CT the 'vaat inter
ests of the Sterabergers in the two
counties his entire attention.
THE immediate object of Mr..
Sternberger's visit here, however,
was vastly of more importance than
a tour of Inspection" says the Min
er. Some thirty years ago with his
brother Leopold he was engaged as
now in the shirt manufacturing bus
mess in Philadelphia. From a very
humble beginning the business has
increased to one million dollars a
year Notwithstanding their pheno-
menal success, however, the result CT
combined and harmonious, painstak
ing effort, Leopold, the elder, waxei
restless. He had read of the vast for
tunes in our western mines; the lure
of gold mining was upon him, the in
dustry which combines healthy ex
element with sober business meth
DDS. He. decided to come west. Dis
posing CT his half-interest in the
business to his brother, Leopold came
TO Gilpin county, Golden Gilpin,'
from whose mines then, as now, an
nually poured millions. Satisfied with
the outlook, Mr.. Sternberger at once
quietly began the acquisition, ella N
by claim, mine by mine. of what IS
now conceded to be the largest min
heral estate in Colorado, 300 patented
lcje claims, 1900 acres of gold-bear-
ing land, comprising a large portion
o: the Gilpin goli belt. with three
niles OF water power along Fall riv
er. sufficient, we venture to say. to
turn every wheel in this district IL.
utilized TO It's capacity. With this
are mill sites fer all probable de-
mands of the property for generations
10 come.
ITO develop the mines a crosscut
tunnel. the Pennsylvania, was start
ed on Fall river and run 1900 feet.
In 1891 Leopold Interested his brother
Samuel in the enterprise and the
Pennsylvania Mining company was
Incorporated. The twenty years have
elapsed and the old charter having
expired, reircorporation was decid-
ed upon. The articles We're made cut
and filed this week, capitalization
figure. From what we can learn, the
present operations upon the Clifford
mine AMI in the Washington tunnel
will be continued up to a certain
point o. development. when there will
be inaugurated larger plans.
THE new Pennsylvania company,
like the old, is close corporation.
equipped with ample funds to carry
out present plans. 1t has set aside,
however. as a working capital 600.-
900 shares of its 'talization, n
limited portion of which may be
placed upon the market after a while
for the extension of the big cross
cut tunnel TO its objective point, Rus
sell Gulch, all the way penetrating
the vast veir system owned by the
Sternberge-3.
This enterprise is destined to be
of vast Importance to these two
counties, directly and indirectly. 1t
means a permanent and material in
crease in ore production. in the num-
Der OF men employed. in needed sup
plies, and in the reputation Of ncrth-
ern Colorado's great sulphide belt as
q safe and profitable field for the
careful investor"