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IN the news columns of the daily papers we read that more and more men are starting for the frozen gold fields of Alaska, there to endure the most terrible hardships and suffering, for the chance of being the one in a thousand to be favored by fortune. There is no doubt that there is a considerable amount of gold to be gotten with infinite toil in the Klondike region. Some of the reports place the amount taken out last year as high as $3,000,000. But it clearly shows that strange characteristic of human nature to discard the things close at hand for those that are far away, that so many neglect the greater opportunities at home.
Thousands of American citizens are now investing their hard-earned savings in the numerous Klondike companies, most of which have nothing more favorable to offer than the mere fact that they are about to send out an expedition to discover and purchase claims. None of them have any tangible property to offer as the basis of their capitalization, while there are enterprises at home that offer far more chance for large gains, and certainly an infinitely lesser degree of risk.
None of these, to our mind, is so worthy of investigation by prudent investors as the United States Tunnel, Mining, Drainage and Transportation Company's Enterprise, which is located in Clear Creek and Gilpin Counties, Colorado, the richest mining district of the world. This company is incorporated under the laws of West Virginia, with a capital stock of $5,000,000, divided into 5,000,000 non-assessable shares of one dollar each.
Not a.Mining Scheme
This enterprise differs from the ordinary mining scheme as day from night. In a mine gold may or may not be found, and upon that chance the profits depend; but the profits of the United States Tunnel depend upon the improved facilities it will offer an entire district of great and proved wealth.
Every one would rather own stock of the Manhattan Elevated Railway Co. of New York City, carrying 500,000 passengers day in and day out, than stock in the balloon company which intends starting for the Klondike. You know what the one will do; the other, as the French say, may or may not arrive. In the same way, how much better to invest in a corporation depending on an entire district, in which mines have been producing for the last fifty years, ever increasing, and today having a larger output than at any time in its history, than in a single mine, however roseate the prospect may be.
Clear Creek and Gilpin Counties, in Colorado, produced precious metals in the past five years valued at $29,253,635, according to the official statistics, 70% of this being in gold. Most of this was taken from the mines on Bellevue Mountain by sinking shafts, and thereby extracting the ore. The United States Tunnel, Mining, Milling, Drainage and Transportation Company is building, under the United States laws, a tunnel through this mountain, which taps or cross-cuts mines that produced 45% of this valuation, or $13,500,000.
Instead of working from the surface of the mountain, these mines can conduct all operations from the tunnel at a tremendous saving in expense. Whereas it now costs $8.53 per ton to produce the gold, a careful estimate shows that, worked through the tunnel, it would cost only $4.77 per ton. Of course, the various mines would gladly pay fair royalties to take advantage of this enormous saving.
Thus shafting must now be constructed at large expense, for the purpose of hoisting the ore to the surface. Though the veins grow richer as they grow deeper, the expense of hoisting becomes larger. The richest veins also contain the most water, which must be pumped or drawn to the surface. In fact, mines must frequently be abandoned, not because the ore supply has given out, but because at a certain depth the expense of hoisting ore and pumping water is too great for prof. itable operation.
Saving on Two Items
The saving to the mines now operated on the tunnel, on the two items of hauling and hoisting alone, would be suf ficient to afford an annual income to the company, based on the average yearly product for the past five years:
For Drainage (there is gravity drainage in the tunnel) which alone is sufficient to pay a dividend of 7% on the par value of the stock. As an example of the contracts with various mines this company is now making, we may instance that with the managers of the Fairmont-Shafter Mines which had a product of $270,000 in 1896. The tunnel strikes this mine about 700 feet further than the present advance, and a contract has already been agreed upon with the managers, calling for the payment of $15,000 per annum to the tunnel company for royalty and drainage.
With the completion of the tunnel, mines that have been abandoned will resume work, because of the increased facilities offered. Experts say the output will be increased fivefold.
The company also owns a mill site, consisting of 53 acres of patented ground immediately adjoining the town of Idaho Springs and close to the Colorado Central Railroad. On this site it is now arranging for a fifty-ton stamp mill, and it is proposed to build, besides, smelting works, hydraulic and electric light works for the purpose of supplying power and light to the mines on the tunnel. The company also owns water privileges covering the water rights on South Clear Creek and Chicago Creek giving 200 horse power, which is sufficient for all company purposes. The income from power supply and milling, counting on an annual production of but three thousand tons daily, will be: Power Supply, $100,000 (profit, $50.000): Milling, $821,250 (profit, $273,750), or a total additional profit from supply of power and milling of $323,750, which is sufficient to pay an additional further dividend of 6 2-5% on the par value of the stock. With the additional item of $100,000 for royalty for use of the tunnel as a base for mining operations, the annual amount applicable for dividends would be $780,350, sufficient to pay 15% on the par value of stock. Of this there is no element of uncertainty or risk.
Work Already Accomplished
The tunnel begins at Hukill Gulch, half a mile from the town of Idaho Springs (36 miles by railroad from Denver), and runs through Bellevue Mountain, under the rich group of mines at the head of Virginia Cañon, across the most productive part of Russell District, through the very heart of Quartz Hill, and into the midst of the best mines of Gunnell and Eureka. The entire distance is three and a quarter miles, and from mouth to terminus the tunnel runs through contiuuous gold-producing territory, found in true fissure veins. Of the gold-bearing veins directly crossed by the tunnel, 114 have been already developed and patented, and as many more have been discovered and worked. Work on the tunnel was begun in 1895, and has been continued since. Five hundred feet has already been completed, and a railroad tramway has been laid the full distance. The tunnel can be driven at the rate of twenty feet a day, the entire year. With the improved appliances now being built, it will be completed in two and a half years, or should it be deemed advisable to work from both ends, in half that time. Profits commence as the work progresses. Mr. James C. Fagan, the superintendent and resident director, in a report dated August 1, 1897, says: "From present indications we should be able to pay a dividend July 1, 1898."
Fair Profits Sure. Big Dividends Probable
The company also owns fifteen mines, each 1,500 feet on the lode by 150 feet in width, located on the line of the tunnel. Ore rich in gold has already been struck in several of these mines, and as the whole group lies directly within a well-known belt of productive lodes, with many producing mines to north, south, east and west of them, there can be no doubt that they will prove good paying mines. The Omaha, Wabash, Big Four, and Gazette are particularly promising. They have each shafts from 15 to 20 feet deep, and the veins thereon are
Notice is now given that on January 1st, 1898, the price of Shares will be
advanced to 75 cents
UNITED STATES TUNNEL, MINING, MILLING
from 4 to 5 feet wide, and assay from $7.00 to $21.00 in gold. The tunnel has already cut two blind lodes which assay well in gold and will pay well for working. The mines are there and are now being worked. The ore is there in great abundance; indeed, there is enough to last 125 years. From the reports of our experts and the opinion of all experienced mining men, the profits from the treatment of the company's own ores are expected to be not less than $750,000 per year, with chances for further gains.
Surely a Safe, Legitimate Business, Perhaps a Bonanza
In investing in this company the stockholder is thus assured, beyond all chance of risk, a considerable dividend on his investment, and the additional probability for enormous gains. In the Klondike mining companies, and in fact all other mining investments, there is always an element of chance. This is entirely eliminated in this investment.
Reliable, Trustworthy Management
The president of the company is Mr. Edward A. Quintard, Savings Bank President, New York City, and the directors are E. A. Quintard; F. Baltes, Bank President, New York City; J. C. Abel, Publisher Nickell Magazine, Boston: William L. Wood, Cashier Bank of Jamaica, Jamaica, N. Y.; Alexander R. Hart, President Long Island Electric Railway Co., Brooklyn, N. Y.; William E. Lown, President Tidal Oil Co., New York City; James C. Fagan, Idaho Springs, Colorado; Homer A. Hoit, New York City, and C. E. Jackson, Banker, Middletown, Ct. The gentlemen composing the Board of Directors are all men of unquestioned integrity and large business experience in successful ventures, and afford absolute guarantee that the affairs of the company will be honestly, skillfully and economically conducted for the benent of all the stockholders. They have all paid for considerable blocks of stock, which shows that they personally feel assured of the merit and reliability of the business.
Where the Money Will Go
All money received for stock is to be used for the rapid completion of the tunnel, erection of smelting and concentrating mills, larger stamp mills as needed, electric light works, etc., etc. A new air compressor has just been purchased, and is now being put up on the property.
Special Limited Offer
For the purpose of quickly obtaining more money to rapidly complete the work, the company offers a limited amount of treasury stock (par value one dollar per share) at only fifty cents a share. The fullest investigation is invited, and prospectus will be sent to any address on application. Any inquiries will receive immediate attention, but as the amount of stock to be sold at the special price is strictly limited, it is advisable
Not to Delay
How to Subscribe.-For every two shares you wish to purchase, remit $1 by money order, bank check, or draft; thus $5 will buy ten shares, $10 will buy twenty shares, etc. Make all checks and drafts payable to William E. Lown, Treasurer. Stock certificates will be sent you by return mail. Write your name and address very plainly.
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