Preliminary negotiations were completed in this city yesterday, says the Denver Republican, for the purchase of the Katherine, the Elizabeth Cooper and the Charles B. lodes, owned by the Nugget Mining and Milling company, and located in the Cripple Creek district. The purchase are New York parties, who are on the ground.
It could not be ascertained what the consideration of the sale amounted to, but it is believed to be close to $100,000. The Elizabeth Cooper has been leased and bonded for $75,000 to May 1.
The Katherine is considered the best property, and is at present a good shipper. This mine has a handsome small vein which improves with depth. The shaft is down 325 feet. These two properties, comprising eighteen and one-half acres patented, are located on Raven hill. The Charles B. is on Grouse and is a prospect claim of seven acres.
The Nugget Mining and Milling company is capitalized at $1,000,000. George L. Keener is president and M. S. Heming secretary.

Principal Producing Cripple Creek Mines - 1898:

Name: Katherine Mine
Owner: Nugget Mining and Milling Co.
Capital: $1,000,000
President: George L. Keener
Vice-President:
Secretary: M. S. Herring, Colorado Springs
Treasurer:
Superintendent:
Manager:
Lessees:
Description: 400-foot shaft; steam; idle.
Employes:
Contact:
Notes:

AFTER DEPTH.
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Katherine Shaft Will Connect With Elkton's Fourth Level.
Whitlock and others are putting down the Katherine shaft to connect with the fourth level of the Elkton mine. They are now something like 425 feet. They are paying little attention to ore until they have reached the desired depth, and can run levels on the vein at a point where it has not been worked over.

The production at the Elkton mine at Cripple Creek was raised to 60 tons a day several weeks ago. This output is being steadily maintained.

Colorado Springs, Col., Feb. 20.—On the Elkton property operations are being carried forward on a tremendous scale, not only by the company, but by different lessees and from the different operators between 3000 and 4000 tons of ore are going out each month, which leaves a profit balance of over $25,000 to the company each thirty days.

Denver, Colo.—During January three new strikes were made in the Elkton property, in blocks 7, 8, and 13, at different depths. The company is working 100 men.
The Hayden lease on the Gregory claim of the Elkton has cleaned up about $300,000 in the last six months. The royalties paid from this lease have furnished sufficient funds to pay for the large amount of development work performed by the company in the main workings of the Elkton proper.

Cripple Creek.—The strike recently made in the fifth level of the Elkton, on Raven hill, promises to become one of the greatest rinds in the district. The vein carrying the rich ore is located 75 feet west of the main shaft, and as development work continues it increases in width. All the way across it gives returns of $35 to the ton, while small knifeblade seams carry values as high as $400 and $500.
The Elkton is crosscutting now for an extension of the vein in the fourth level, and it is expected to expose the ore body proper with any round of shots.

Denver.—The Elkton has shipped thus far this month 24 cars of 2-ounce grade. The output for December is reckoned at $50,000.

Cripple Creek—The Elkton Con., working one shift six days a week, continues to ship at the rate of 1,200 tons monthly and the net smelting returns are about $35,000.

Cripple Creek—Bailey & Cain, leasing on the Catherine dump of the Elkton Cons., are taking out about 180 tons of ore a week of a grade that is yielding $2 a ton profit. Beginning this week they intend to increase the tonnage to 200 tons a week.