S. T. Culp Makes a Strike.
CRIPPLE CREEK, Colo., March 21.—What appears to be a big strike has been made on the Jefferson, a property located south of the Independence, and which is under lease and bond to Culp & Co. In cross-cutting from the bottom of the 200 foot shaft a large body of sylvanite quartz was found which assays as high as $680 per ton.
The vein is fully ten feet in width and the high grade streak measures fully two feet. Ore is being saved for a carload shipment.

Principal Producing Cripple Creek Mines - 1898:

Name: Jefferson claim (Battle Mountain)
Owner: Independence Extension Mining Co.
Capital:
President: W. C. Wynkoop
Vice-President:
Secretary: H. A. Mclntyre
Treasurer: H. A. Mclntyre
Superintendent:
Manager:
Lessees:
Description: 217-foot shaft; steam.
Employes:
Contact:
Notes:

Extension Gold Mining Co.
3549. (New Orleans, La.) I will thank you for an expression of opinion, through the columns of the "Investor," regarding the Extension Gold Mining Co., of Cripple Creek. This company is the successor of the Independence Extension Mining Co., which failed recently owing to inability to meet payment of bond of $18,500 due July 1st.
The bond was acquired by a "pool," the members of which formed the present company. Stockholders in the old company were forced to pay an assessment of 3 cents a share or forfeit their interest in the property. In a circular, issued last year, the secretary stated that he and the president, Mr. Ross-Lewin, owned 300,000 shares of the stock, and as both these gentlemen belong to the "pool" it would be interesting to know whether they and the other members of it, who owned stock in the old company, have paid the assessment.
Mr. McIntyre states that none of the organizers of the old company are now connected with the Extension Gold Mining Co., and that the assessment affects all stock alike. The opinion entertained in Colorado Springs regarding this property, appears to be mixed. One correspondent informs me "that the general feeling there is not at all favorable to the stock" another regards it as an excellent speculation.
If practicable, will you please ascertain number of shares on which assessment has been paid, acreage of the Jefferson claim owned by the company, amount originally paid for it, amount still due contractor for sinking main shaft, extent of development work done, to date, and whether any active work is now being done; dividend prospects.

Ans.: The original company which operated this property under bond and lease was organized in February, 1896, the property being originally known as the Jefferson claim.

Upon investigation, we find that the bond has been taken up by Geo. E. Ross-Lewin cashier of the First National Bank of Denver, and Mr. H. A. McIntire, the former, being the president and the latter the secretary and treasurer of the new company, who propose to turn over the bond to the extension Gold Mining Company, who are required to pay $18,500 for it, or the amount due July 1.

Since the property was allowed to go by default, the original stock would have no value. As to whether the president and secretary have subscribed, they state that they will pay in their own pro rata assessment before October 1, but the amount has not yet been subscribed. They must either do this or forfeit their stock.
The proposition now being made to the stockholders in the old company is that in return for their original stock and three cents per share, they may receive for each share, one in the new company.

The claim owns five acres, or "80x300 feet. There is now due the contractor $500, which is held as a guarantee of good faith.

Upon the personal investigation of the "Investor's" representative, we find that there has been sunk in about the centre of the property, a 300-foot shaft, with a cross cut on the 60-foot level, and two short tunnels running north and south.
At the 100-foot level, another cross cut and two tunnels have been driven in the same directions as those on the 60-foot level, but longer and larger ones, considerable ore having been taken out. These tunnels follow the veins on each side of the shaft, which are quite well defined.
No work is being done on the property at the present time, and water prevented a descent below the 100-foot level, but it is stated by the engineer that a tunnel has been driven on the 300-foot level, several hundred feet on the east side of the shaft, following the vein, but no ore short has yet been found, and no ore of sufficient value to pay for mining has yet been taken out.

The location of the property is quite favorable to the opening of a large mine, since the claim lies directly south of two of the producing properties of that district.

As to whether gold ore of sufficient quantities to pay for mining and extracting will ever be produced, remains entirely problematical, depending upon the extent of the ore bodies encountered, as well as their mineral value.
At present, the property is nothing more than a prospect in the hands of a practical mining engineer, Mr. F. V. Bodfish.

We are informed that there were outstanding, 1,500,000 shares of the original stock, which cost the holders from six to ten cents per share. It is estimated that about 700,000 shares will come in on the new deal, and the company propose to divide the remaining 800,000 shares among themselves and the stockholders.
To develop this property and put it on a dividend paying basis will yet require a large expenditure.

Jefferson Mine.—A. A. Barnes and associates have secured a bond and lease on the Jefferson mine, near Victor and will start operations on a large scale.
It is the intention of the new operators to commence lateral work at the bottom of the 510-foot shaft, as well as to open up the ground in the upper workings.

A steam plant has been installed on the Jefferson lode by the lessees, who have opened up a promising body of ore.

A trial lot of one carload of ore was shipped from the Jefferson mine in Victor.

Operations have been resumed by the Strong Extension Mining Co. on the Jefferson, adjoining the Strong mine at Victor. The shaft on this Battle mountain property is to be sunk an additional 300 ft. by contract.

Work will be commenced in a few days in the Jefferson mine, in East Victor. The St. Paul Mining and Milling Co., composed of capitalists of St. Paul, Minn., will undertake development.

It is announced that the Jefferson shaft will be sunk from the 500-ft. level to 800.

Anderson and Benson, who have a contract to drive a crosscut west on the 500-ft. level of the Jefferson shaft on Battle mountain, the property being located just south of the Strong mine, recently encountered ore.

A rich strike of ore has been reported on the Jefferson, a mine almost in the city of Victor. W. R. Davenport, who has the property under lease, has been working it for some time and has found ore in several places.