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INCORPORATED UNDER AND BY VIRTUE OF THE LAWS OF THE STATE OF COLORADO.
A. G. LEWIS. M. D., Mine Operator | President |
A. MORANDVILLE, Mining Expert | General Manager |
F. D. FOX, Druggist | Treasurer |
E. L. ELLENWOOD, Tel. Opr., Western Union | Secretary |
WILLIAM QUILLIAN, Grocer | Director |
D. B. OVERALTZER, ESQ. | Director |
The above being the incorporators, it will be observed at once that the Sutherland Mining Co. was organized by business men of good standing; they at once adopted business rules and strict business principles in the affairs of the company. Their motto is and has been from the inception of the company to acquire title by U. S. patent, thus avoiding all troublesome vexations and expensive litigation.
The great advantage of this mode of procedure will at once be apparent to any one having any experience whatever in mining in the State of Colorado. The numerous law suits arising from the lapping of opposing claims, or intersecting of opposing claim lines, are all avoided, and the company can persue the even tenure of its own way, none daring to interfere with the lines established by "Uncle Sam."
The Sutherland Mining Co. owns in fee simple the extent of 160 acres, aggregating fifteen lode claims 300x1500 feet; in patenting the section lines with the subdivisions thereof were conformed to for convenience and to save expense. Their ground is now divided as will be seen by reference to the accompanying map.
First, a beautiful mill site of about 20 acres in extent, a natural mill site with a splendid mountain stream flowing through it to the west, and up the stream lies the placer ground, about 40 acres in extent. Gold can be and has been obtained with a common pan anywhere along the creek here, both above and below the forks of the creek, although the bed rock has never been exposed, nor noways near it. This surely indicates plenty of mineral at bed rock as well as in the immense lodes situated above, to the west and south up the creek.
We now come to the Monarch, the main vein of this property, which crosses the property from a north-west to a southeast direction for over five-eighths of a mile. It averages about 27 feet wide and is a part of the great rim or fissure surrounding the base of Pikes Peak, sometimes called a rim from the fact that in many places it stands up several feet higher than the country rock—granite, which through the action of the elements and the lapse of time has disintegrated and settled down and left the quartz of the fissure standing.
This fissure has been traced for 15 miles and it is believed by gentlemen well qualified to judge, that it entirely surrounds the base of Pikes Peak. At any rate gold is found anywhere in this fissure that has been investigated and anywhere between this fissure and the summit of the Peak in any direction from the Peak.
This is believed by men most competent to judge to constitute the Cripple Creek gold fields of the Pikes Peak region, the most extensive and richest in the known world.
It is a well-known fact that there is hardly a mine in the whole region that got pay ore under 200 feet (very few exceptions). The biggest and richest mines in operation here to-day had nothing better than a trace or one dollar or two to the ton for the first 100 to 200 feet. It was pluck and energy that made Cripple Creek "the greatest mining camp on earth."
The mineral industry of Colorado to-day is in its infancy. The number of shipping mines is rapidly on the increase. Rich strikes are of almost daily occurrence, but remember, they are nearly all on the lower levels.
The output of the district for 1899 will surpass that for 1898 by a very large per cent. But, a year or two ago our critics predicted that when we reached the calcite formation that our mineral would play out and Cripple Creek would be a thing of the past. This formation has been reached at about a general average of 1,000 feet throughout the district, but when we reach the calcite formation we find ores are richer than ever.
The foregoing facts show us conclusively that there is one maxim that must be adopted by all Colorado miners and mine managers; i. e., go down and keep on going. The deepest shaft on the Company's property is about 66 feet, that is, on the main vein, marked on the map, the vein being about 27 feet in width, as before stated.
The shaft, although a large one, 7x9 feet, was sunk within the walls of the vein. About 14 feet of the vein is a solid body of chocolate-colored quartz, mineralized throughout, standing in the fissure nearly perpendicular, only dips about one foot in twenty-five. Assays run up to $4 and as high as $6.40 per ton in gold with but little variation in values from 15 to 20 feet to the bottom of shaft, the balance of the vein or about 13 feet is gangue or ordinary vein matter composed of feldspatic quartz decomposed with a plentiful admixture of talc of every shade from the light colored to the dark green.
This part of the vein is also mineralized, but, of course, low grade at this depth.
About 300 feet in westerly direction from the main shaft is a 45-foot shaft sunk on a side or parallel vein. There is quite a number of these on both sides of the main vein. This one is about eighteen inches thick and is of the same composition as the quartz in the main vein. Assays show about the same values.
This one also stands nearly erect between granite walls. Some specs of free gold has been found in this, as well as in the main shaft. So far, no water has been encountered to bother. It is easily worked, being soft. The miners pick it up and shovel it into the buckets very rapidly.
A shaft can be sunk here for less than one-half what it would cost in solid rock. Numerous mining experts have visited this property, and all, without a single dissent, pronounce this the best surface indication they have seen in the state or elsewhere.
Taking all the surroundings into consideration; first, the placer gold in the creek; the formation of the contiguous mountains; the numerous small veins, or shoots, feeders they are sometimes called, and the main fact that this is a part of the great fissure that seems, at least, to surround the base of Pikes Peak; the character of the vein matter; the fact that it is mineralized with gold almost to the paying point near the surface, the inevitable conclusion will be forced upon the mind of any man that knows a little bit about mining or has a distant idea how a mine looks that this property with development will become a great and highly valuable mine.
There is no way of estimating the real value of this mine. It will be seen by reference to the map that the Company owns all of the north one-half and the south-west quarter of the north-east quarter and the northeast quarter of the north-west quarter of section 17, township 14 south, of range 67 west.
In addition to this they have interests in and control many other claims, some of them, at least, are very flattering prospects, but they do not claim to own anything except what they have U. S. patents for.
Their charter covers the entire mineral industry in any and all parts of the state of Colorado, including the buying, selling, owning, locating, leasing, operating mines and mining claims, concentrating, smelting, refining all gold and metalliferous ores, gravels, sands or rocks.
Also the building and operating of flumes, ditches or conduits, the building of and operating telegraph and telephone lines, building and operating of railroads by steam or electricity and everything else in any way connected with the mining business or handling ores of any and all kinds from taking them from the ground until the bullion is delivered to the U. S. mint.
They have adopted and have now in operation a very stringent set of by-laws, one of which provides that no officer of the Company can draw or receive any salary for services performed until the Company is paying dividends to the stockholders. The Company is out of debt, nor, according to the by-laws, can it contract a debt without a majority vote of the Board of Directors.
Therefore, it will be readily observed that every safeguard has been thrown around the stock-holders that was possible. Every individual that owns one share of The Sutherland Mining Company's stock is a part of the corporation to the extent of his holdings.
The office of the company is located in Colorado Springs, in the El Paso County Bank Block. The officers of the Company are:
A. Granville Lewis, M. D., President and General Manager
George Gardner, Secretary, Attorney at Law
L. D. Hubbard, Treasurer, Attorney at Law
O. F. Sisco, Director
Fred Sterns, Director.
The Board of Directors are all well-known and prominent men, and it can be truthfully said that they are all leading men of this section of the country.
Dr. Lewis, the President and General Manager, has a record for integrity and ability as a financier second to no one, having formerly been President of the Breckenridge Savings Bank, of Breckenridge, Missouri, the stock of which was selling at 60 cents on the dollar when he took charge of the bank's affairs.
By his management in straightening out the business of the bank, the stock rose to and sold at $1.10 on the dollar in one year. He has lived in this vicinity twelve years. Has been engaged in mining about ten years. He is not only an assayer, but an analytical chemist as well.
He has had an extensive experience in prospecting, locating and operating mines; was until lately President of the St. Paul Gold Mining and Tunnel Company, but he gave that up in order to have more time to devote to the business of The Sutherland.
His judgment is highly valued by all mining experts and mining men who know him.
George Gardner, Secretary, a leading lawyer of Colorado Springs, and one of the rising men of Colorado, has a large and lucrative practice in his profession.
L. D. Hubbard, Treasurer, also a prominent attorney, has the confidence of all who know him. No man stands higher in the community in which he lives than he.
Fred Stearn and O. F. Sisco, the other two Directors, have just as good standing as those heretofore spoken of.
It will be observed that the affairs of the Sutherland Mining Company are in safe hands. Very few mining companies in this state have the aggregated acreage patented that they have and then they are still locating, leasing, patenting.
In a word, they are in business to stay. It is no idle guess to predict that they will forge their way to the front and become one of the solid institutions of the country.
The stock of the Company has never been thrown upon the market, has never been listed on any stock exchange, for the reason that the management did not want to see it manipulated and hawked over the boards. The stock exchanges have been carefully conserved, by reason of which they have a large treasury reserve, there being one hundred and ninety thousand shares remaining in the treasury.
A limited amount of this stock will now be offered for sale to investors, but there must be a distinct understanding that it will not be hawked over the boards of any stock exchange on earth.