The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-01-11
Fortunes Made In Mining
Stocks

Great fortunes have been made
IN the gold fields of the world. par
ticularly In those OF Australia.
California, Alaska and Nevoda; but
tho great proportion OF fortunes
have been gathered. not by the
miners themselves, but by the
men who held stocks In the gold
mines. The dlscoverers have often
sold their properties for q song.
Shortly after location. ths Mo-
hawk claim at Goldfeld Was trad
cd for O mule. These shares first
sold at 10 cents and later at $1,000.
This mine was the great producer
Of the qoldneld Consolidated.
which has since paid over fourteen
million and q half dollars dividends
on stock LeRoi went from so
cents to s11%0 share: Tonopah
from 90 cents to $3.50: Dos Es-
trellas from 80 cents to 3155 n
share; Crown Reserve placed at IS
cents advanced TO $4,000; Nipisslng
went at $500 and sold later for
$500; Kerr Lake went from s10o
TO sl1.O0; Hudson Bay from, o5
cents TO $3.50.
Some Values Today.
Ten dollars invested In Swansea
In 1880 became worth $4,000 and
has paid $500 In the meantime.
Calumet q Hecla returned early
investors $500 on every dollars
worth of stock. Shares are now
worth S42o e share.
The LcRoi mine sold in 1890 for
s1260, Its market value today is
$4,000, 900. and shares are worth
$50. Ono hundred dollars invested
In this mine a few years ago Is
worth s25o.ooo. and has drawn In
the meantime $4,000 In dividends.
Marshall Field paid s62o for his
share OF a mine that brought him
100000 when Il was sold A quar-
ter Interest In the celebrated Com
stock sold for $4,000. Tho mine
produced s6oo.ooo,ooo, and the
stock sold as high as $1S76 a share.
The Tom Boy nine at Telluride.
Colo, was bought In 1890 for S125,-
900. Nine years later IT wes sold
for s1s.0oo.o00, a three quarter
interest In the Independence at
Cripple Creek was sold by the orig
lnal locator four years after dis
covery for $40. 900. The Dutan
mine in the Rainy River district.
Ontario. advanced from 800 as a
In, 80 I.sf
proposition In 1895, The Copper
Queen was offered for s20o6 In
early days. and there were no
takers for the Bonanza In eastern
Oregon. which now produces a mill
lion dollars q year.
Some Individual Cases.
\ well-known business man Of
ST. Paul had his check written
interest In the Lefto HIS friends
persuaded him not to Invest. A
few months later 1t sold In London
for S5.000.0 900. Friendly advice"
cost this man a million dollars.
Two men were offered shares In
the Calumet &c Hecla In 1871. One
man bought $1,000 worth. but the
bank at per cen. interest, which,
compounded for 80 years, netted
him ssf71 The other investment
is today worth $4,000, and has
In addition drawn sI,06s.600 as divs-
dends-a total of si,53s, 500.
Professor Treadweu sold 100
shares OF United Verde to bis
cousin. Mrs. +. II Chase OF
Ranger. Me-. at $1.oo q share.
Later he offered her 200 moro
shares at so cents. but her hus-
band urged her not 70 buy, saying
that she had already thrown away
500 into q hole In the ground.
When Clarke began buying I'd
the stock in 1889. he offered Mrs.
Chase IS a share and later ad-
vanced II TO $3.50 8 share, which
she refused.
In 1900 Boston brokers offered
her $4,000 for her investment OF
Sl00
But for her husbands advice,
she would have taken tho addi-
tional shares offered her by Tread
well, and would today be worth
$I0o, 600.
a tidy profit on an investment Of
s20ol