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One of the biggest consolidations ever effected in the camp was made yesterday in Colorado Springs when the properties of the Alta Mont and the Deadwood were put into one company.
The total acreage of the new company amounts to sixty acres, all of which is located on Tenderfoot hill. The Alta Mont group consists of 38 acres while that of the Deadwood amounts to 23 acres.
The new company will start out with a cash reserve of $50,000, one of the biggest reserves any company ever started with in the district. They will very soon commence active work in the district and before long one may expect to see smoke issue from the smoke stack of a big plant on Tenderfoot hill.
They will sink a three-compartment shaft on the hill and thoroughly prospect that section. As they have expended a great amount of money they know just what they are doing in this present project.
The moral risk of the company is the best in the world and the people of the district will understand that they intend going ahead and doing good work.
The officers of the new company are: W. A. Otis, president; C. C. Hamlin, vice president; O. H. Shoup, secretary and treasurer. They, with P. B. Stuart, V. Z. Reed and E. D Wetmore, form the directorate of the company for the first year.
- Colorado Historic Newspaper Collection: ⊞ The Morning Times=Citizen, February 28, 1900
- Colorado Historic Newspaper Collection: ⊞ Morning Times, March 1, 1900
THE TENDERFOOT HILL CONSOLIDATED MINING CO.
In the early part of the year 1901 The Reed Investment Company, of which Mr. Verner Z. Reed is president and O. H. Shoup secretary, adopted a policy of working the properties which they controlled by the leasing system.
They were among the first to inaugurate a longer time lease with a lower royalty, so that on all the properties which they control, there has been active development work carried on during the past year by lessees.
The Tenderfoot Hill Consolidated Mining company suspended operations on company account over a year ago. The company owns what was formerly the Alta Mont group and the Deadwood group, on Tenderfoot hill.
The main shaft is over 500 feet deep and the company have in the treasury a working capital of $26,000.00 in cash.
- Internet Archive: ⊞ The Cripple Creek Times (New Year 1903)
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