Gilpin observer., 1914-01-29
GOLD COIN GROUP
TO RESUME WORK

Irving T. Bush, president or the
Bush Terminal Co., of New York
city, had this to say: II don't look
for what might be called boom,
but rather steady gain in business
of all sorts. l am sure resump-
tion of normal conditions In the busi-
ness world will soon be apparent for
President Wilson has given us what
the country has been clamoring for,
and that is real revision of its tar
if laws. The signing of the curren-
cy bill was very gratifying to me,
too, and / at once Joined the ranks
of those optimists who see in Presi-
dent Wilson a genuine leader of men.
He was the first President to appre-
ciate the need Of an adequate bank
ing and currency system. What he
has accomplished in the 10 months
of his tenure Of office Stamps him
as one who can be thoroughly trust
ed to inaugurate sane and intelli-
gent general legislative program
which will not injure legitimate busi-
ness"
Mr.. Bush is many times million
aire and controls many of the large
corporations In the east. He is also
principal owner of the Gold Coin
group Of mines, consisting OF seven
teen patented claims on the north
side Of Quartz hill near Nevadaville,
that has produced over $4,000, 900
since their discoveries. The prop
erty is now idle but with Mr.. Bush's
optimistic turn Of mind, we may look
for this famous group OF mines to
reopen in the near future. The lodes
comprising the Gold Coin group were
discovered in the early sixties and
made fortunes for many OF the pio-
neer business men of Denver. They
also built the town OF Nevadaville
which was a busy and thriving town
while the mines were successfully op-
Grated, but with deep mining, the
water became SO troublesome that
deeper exploration had to be aban-
doned. and after working out the sur
face ground, the mines were closed.
The Newhouse tunnel from Idaho
Springs cuts the group about 1900
feet deep. The distance between the
deepest shaft and tunnel is about
400 feet, and with an upraise, would
drain all the mines of the group
and expose vast quantities Of virgin
ground that has known riches. The
property came into the hands OF the
Gold Coin company in the early nine
ties, and was successfully worked
until compelled to close on account
of the water. The property has a
forty stamp mill on the property.
where all the mill ores were stamp
ed when the mine was in operation.
This mill is also equipped with
crushers and concentrating tables Of
modern type. The main shaft has
one of the finest hoisting plants in
the county and also a six-inch Cor
way company, branch of the c. &
S. railway. enters the mine and mill
and all ores are cheaply handled.
Mr.. Bush will undoubtedly make a
trip here shortly and II he makes the
aforesaid raise from the Newhouse
tunnel and drains the mine, there
is plenty Of ore in sight on the lower
levels to last some time. and the
four hundred feet between the tun-
mel and the bottom of the shaft is
virgin ground, capable Of producing
for long time to come. The mine
was steady producer for nearly fif-
ty years and was only closed because
the vast amount Of water made min
ing too expensive. With this mine
again in operation, at the south side
OF Nevada. and the famous Hubert.
lying Immediately to the north, that
is now being worked and producing
large quantities Of rich ore, who is