Gilpin observer., 1912-05-09
Colorado.

over Marcn.
Zinc now ranks second in the min
eral production of Colorado. Its yield
Is greater than silver and next to gold,
for the first time in the mineral his
tory of the state. In 1911, according
to Mining Commissioner Thomas Hen
ehan's report, zinc exceeded silver by
nearly $2,000,000. The production of
zinc for the year is double that of
1910, and will be even greater this
year, in the opinion of mining men.
The Primos company at Lakewood
tungsten district, in Boulder county,
has announced a new schedule of
prices for tungsten ore. 1t shows a
big increase in low grade ore and a
small increase on high grade. The
rates are $3.50 per unit for 10 per
cent, $4.40 for 20 per cent, and $3.50
for 40 per cent. ore. The Primos COM
pany expects to start the Lakewood
mill soon. The Boulder Tungsten Pro,
duction Company, recently organized
by ]. G. Clark, NJ. NJ. Rim and j. NJ.
Williams, plans extensive development
in the black metal mining district this
season. The Colorado Tungsten Com
pany will have its new concentrating
plant at Carrie Nation park in com.
mission within thirty days. Mining ac
tivity is not only apparent in the tung-
stem district, but in the gold and sill
YER camps of the county as well.
The richest strike made in years in
the upper Clear Creek district is re-
ported by the Silver Plume Mines &
Tunnel Co. on Mcclellan mountain. In
drifting on a vein intersected 900 feet
from the portal of the tunnel, streak
of gray copper 1 to inches wide has
been exposed that assays 3,494.60
ounces silver per ton. The Silver
Plume tunnel is in 1900 feet and the
company now plans development,
drifting and stopping upon the new
lode. This company now owns the
Mary Eta group of claims that lies
some distance ahead of the present
breast of the tunnel, many of which
make fine showing from surface de-
velopment. In due time all the great
mines of the mountain will be drained
and as result the company will be in
a position to realize handsomely from
foliage standpoint.
The seventh annual report of the
Utah Copper Company, the most gi-
gantic proposition ever floated by Col
orado Springs men, has just been
made public and shows interesting fig
ures. The net profits for the year end
ing Dec. 81, 1911, were s6,237 ,92S.44,
and of this s4,703,022 was disbursed
In dividends, with $1,534, ,906.44 cred
tied to undivided profits. OF the prof
its, S4,470,933.33 resulted from the op-
Grafton of the Utah plants, and s1,76G,-
995.11 from outside investments, in
Guiding dividends on stock of the Ne
vada Consolidated company. owned by
the Utah company. The Utah compa-
ny has paid in dividends during its
seven years existence $11.512, ,472.50
and has undivided profits of s2,731.-
1880. President C. NJ. McNeill and
associates of Colorado Springs promot-
ed the company. Mr.. Mcneil an
nounces that the item of undivided
profits has no bearing on the balance
sheet as surplus, which showed ere
dit Dec. 81 of $6,311 ,020. The compa-
ny has 23O,O00,O00 tons of ore fully
developed, and more than 70,000,00O
tons OF what are called partially de-
veloped ore bodies. Last year it pro-
duced 9s,436,224 pounds Of copper, 40.-
2O2 ounces of gold and 366.907 ounces
Of silver.
The Old Town Mining Company.
X. Kimball, has siled suit in District
Court against the Pewabic Mining
Company, asking judgment for $780,
900. The companies are operating on
Seaton mountain and 1t Is alleged in
the complaint that a shaft sunk by
plaintiff broke into the ground Of the
Pewabic company and that ore worth
5000, 900 was taken from the Old Town
holdings The case will be bitterly
contested.
One OF the great projects being
worked out, which promises so much
for Idaho Springs, is the new smelter
to be erected by L. Sternberger and
brother for their Fall River proper
ties. Sternberger and brother have
been for number of years developing
their properties in this locality of
which they have an immense terri
tory. In uncovering the Emmerson
vein in the Lucania tunnel. with its
immense body Of good ore, they have
been and are still experimenting on
the different methods for the treat
ment of this and other ores and have
concluded to treat them by an electric
smelter.
The Moffat Coal Company will put
crew of men at work on May is to
open its anthracite coal holdings. In
addition to drifting and sinking. drills
are to be used in prospecting the en-.
tire 1000 acres OF coal land controlled
by the company.