* ^ Uoiv.of Ji|, library 54 H-%5 — *** LIBRARY . OF THE - UNIVERSITY OF ILLINO 1 " MINING COMPANY, Of Leadville, Lake County, THE Bald Mountain Mining Company (Of Leadville, Lake County, Colorado.) LIBRARY OF THE UNIVERSITY OF ILLINOIS CAPITAL STOCK, $10, 000,000. 1,000,000 SHARES-PAR VALUE, $10.00 EACH. Office of the Company, 21 Nassau Street, Rooms 22 and 24. NEW YORK. ARTHUR & B O N N E L L , STATIONERS* 57 Liberty Street. THE BALD MOUNTAIN MINING COMPANY, LEADVILLE, LAKE COUNTY, COLORADO. Incorporated November 8, 1879, under the General Laws of the State of New York. President, J. E. PEYTON. Treasurer, EDWARD P. COE. Secretary, CHARLES WENDELL. Trustees, J. E. Peyton, Hacldonfield, N. J. Wm. G. Vermilye, N. Y. James Havemeyer, N. Y. J. S. Andrews, N. Y. Edward P. Coe, N. Y. Andrew Mitchell, N . Y . Charles A. Sherman, N. Y. F. A. Fane, N. Y. T. W. Mofeat, Denver, Col. Manager and Mining Engineer in Colorado, H. B. BEARCE. Office of the Company, 21 Nassau St., New York. Bankers in Colorado, FIRST NATIONAL BANK, DENVER. Bankers in New York. MECHANICS’ NATIONAL BANK. Registrar of Transfers in New York. CENTRAL TRUST COMPANY. Attorneys and Counsel, WARD & JENKS, New York. B. M. HUGHES, Denver, Col. S. P. ROSE, Leadville. ! 008087 FANNY BARRETT. RED LION LODE. U PPER. BELLA D. G.W.KASSLEN. CLAYTON. PHILLIPS^ CHEESMAN. HALLACK. COLORADO. Jiur&U'>iu, tf ]l,37 Liberty S;\f . ' THE Bald Mountain Mining Company. PRO SPECTUS. The property of the Company consists of the following well defined mines : HERCULES, HAZARD, UPPER, BELLA D., G. W. KASSLEN, CLAYTON, CHEESMAN, HALLACK. The “ HERCULES” and “HAZARD.” These two mines are a part of a group of mines located on Fryer Hill, a spur of Bald Mountain, a district well known for its rich silver and other mineral deposits. The developments made, through the shafts sunk at the various points on the property, indicate the same rich quality 6 and quantity of ores discovered in, and now being taken from the mines, operated in the immediate vicinity, viz. : THE LITTLE PITTSBURG CONSOLIDATED, CARBONIFEROUS, LITTLE CHIEF, CRYSOLITE, LITTLE EVA, AMIE, CLIMAX, DUNCAN, MATCHLESS, ROBERT E. LEE, and many others ; all of which are producing large quanti- ties of paying ores. There can be no doubt that the Hercules and Hazard when fully developed, will be found to pay as large dividends as any of the adjacent mines (which range from $50,000 to $200,000 per month). This opinion is confirmed by the location of the property and through the work done and being prosecuted, as will be seen by accompanying maps and the statements contained in the subjoined report of H. B. Bearce, Mining Engineer, and letter of E. H. Moffat, Jr., Vice-President of the Little Pittsburg Consolidated Mining Company (the former the Consulting Engineer of this Company). Leadville, Col., Oct . 13 , 1879 . Col. J. E. Peyton, New York. Dear Sir: I have made as careful examination as possible of the HAZARD and HERCULES lodes, situated on Fryer Hill. The location is a fortunate one, it being on the north end of the LITTLE CHIEF, and east line of the CARBO- NIFEROUS MINE, and in the immediate vicinity of the 7 LITTLE PITTSBURG, CHRYSOLITE, DIVES, WIN- NEMUCK and NEW DISCOVERY Mines. (See map.) The location makes the ground valuable, without taking into consideration the development that has been made. There is on the HAZARD a well timbered shaft 140 feet deep. At a depth of 81 feet iron was struck carrying silver, and occasionally small pockets of galena and carbonates, but not in quantity sufficient to pay. Assays through this iron, which was 28 feet thick, run from 16 to 84 ounces silver per ton. At this point, 81 feet from the surface, a small drift was run south 20 deg. Ea. 24 feet. From some reason that I cannot explain this drift was run on top of the iron in the wash and drift, and of course produced nothing. Under the iron lay 10 feet of sand carbonates, low grade, only assaying 8 to 36 ounces. From this point the shaft was sunk through clay and porphyry 49 feet, until water stopped them, they only using a windlass to hoist with. A drift has also been, run at a depth of 105 feet from the surface, north 25 deg. Ea. 35 feet. This drift is mostly in iron, with occasional small pockets of high grade ore, assaying from 84 to 796 ounces silver per ton. A winze was sunk at the end of this drift 16 feet deep, and the same body of sand-carbonates was struck as in main shaft, where also a drift was started and run a short distance, but it was too wet for examination. THE DISCOVERY SHAFT- This shaft is 176 feet from the working shaft. At this shaft they struck iron and water at a depth of 60 feet, drilled through 13 J feet of iron, averaging assays 60 ounces silver ; also 5 feet of sand carbonate, that assayed 105 ounces. This shaft was stopped, evidently for the lack of means to buy an engine and pump. The HERCULES shaft is down 130 feet, is located in a 8 south-easterly direction from the HAZARD working shaft about 75 feet, and near the end line of the LITTLE CHIEF. With the exception of drifts on the HAZARD, a description of the HERCULES would he a repetition, as they pass through the same formation generally, the iron, perhaps, carrying more pay ore than the HAZARD. In my judg- ment, with the exception of the shafts that have been sunk, the exploration made amounts to but little in a systematic development of the ground. They do prove, however, there is mineral the same as found in all the other mines on the hill, underlying all of the ground covered by these shafts, but as to its richness or extent, they prove nothing. I see nothing to condemn the mines in the fact that no large bodies of rich mineral have been struck with the present developeraent ; but the fact that such large bodies of mineral have been found, with the limited exploration yet made, induces me to believe that a proper exploration of the ground will develop bodies of rich ore, the same as found in the adjoining mines. I am familiar with the underground workings of all the mines of importance on the hill, and in all of them there are many places where shafts could have been sunk with like or worse results, while proper explora- tions have developed bodies of ore of great value in their im- mediate vicinity. In short, it h possible, but hardly proba- ble, that with the immense bodies of ore exposed in the LITTLE CHIEF and the other mines in the group that have been developed, that the ore deposit stops at the line of HAZARD and HERCULES. I believe that with a reasonable supply of brains and. ex- perience, helped with the necessary machinery and, means, success is certain. Yours respectfully, H. B. Bearce. 9 Office Little Pittsburg Consolidated Mining Company, ) 113 and 115 Broadway, New York, Oct. 22, 18 r »9. \ Fred’k A. Fane, Esq, My Dear Sir : In regard to the Mines, HERCULES and HAZARD, situated upon Fryer’s Hill, Leadville, Colorado, which you have purchased, I can say they are surrounded by the celebrated mines CARBONIFEROUS, LITTLE CHIEF, and 0. K. Also amidst many other valuable mines, namely, LITTLE PITTSBURG MINING COM- PANY’S mines, and others which are paying largely to- day. The property being so favorably situated, 1 can most cheer- fully endorse it as very promising, and have no doubt of its proving successful. Yours truly, David H. Moffat, Jr. Gentlemen connected with the Bald Mountain Mining Company, who have recently visited Leadville and vicinity, for the purpose of making a careful examination of the mineral deposits of that section, fully concur in the state- ments made by Messrs. Dodge, Potter A Co., as given in the Prospectus of the Little Pittsburg Consolidated Mining Company, as follows: “ These mines were discovered and located in May, 1878, and from August last to the present date have yielded to the owners about $1,600,000. “As the contiguous properties are all producing rich ore in large quantities , it is fair to calculate for at least a propor- tion of the remaining ninety-five per cent . of the company’s teritory coming fully up to that ivhich has been opened. “ Much has been said and written by parties interested in other localities against the durability and permanence 10 of these mineral deposits. In reply we have only to say that each day’s work strengthens our claim that these im- mense ore beds are capable of paying dividends for many years to come, and to this we have the united testimony of many eminent mining engineers and experts, who have been furnished every facility for making a complete and compre- hensive examination of the property.” LOVELAND HILL MINES. The property of the Company situated on Loveland Hill. a spur of “Buckskin Joe” Mountain in Park County, is about ten miles from Leadville, and two miles from the town of Alma. It consists of the following mines : UPPER, BELLA D., G. W. KASSLEN, CLAYTON. CHEESMAN, and HALLACK, the group containing in all above 60 acres. Adjoining, and in the immediate vicinity, are the following mines, which are being developed, and are now producing large quantities of very rich ore. Among them will be found the FANNY BARRETT, RED LION, BUCKEYE STATE, SAMARITAN, PHILLIPS, ORPHAN BOY. MOUNTAIN LION. These deposits are considered by many as among the richest yet found in the state ; which opinion will no doubt 11 be fully confirmed at an early clay through further develop- ments now being made. The Bald Mountain Mining Company has been organ- ized in the City of New York for the purpose of developing and operating the properties hereinbefore described, upon* all of which shafts are being sunk with very satisfactory results. The gentlemen comprising the organization in the City of New York are well and favorably known to the public. Their associates in the West are gentlemen of high character, and long experience in the mining interests in that section. The valuable mining property acquired by this Company is now partially developed. With prudent and economical man- agement of its affairs, no enterprise can present stronger in- ducements to capitalists for a safe and 'profitable investment , than the Bald Mountain Silver Mining Company of Colorado. The agricultural resources of the State are keeping pace with its mineral development, and the facilities now furnished by rail, and the abundant products of the soil, give an assurance that labor can be obtained in Colorado on as favorable terms as in any other part of the United States. Each day’s work is an assurance that the results antici- pated by the officers of the Company, will be realized within a reasonable time. LIBRARY UNIVERSITY OF ILLINOIS REPORT OF Col. J. E. PEYTON, President. New York, Dec. 11, 187 . To the Trustees of the Bald Mountain Mining Co Neiu York : Gentlemen, — In compliance with your request I have visited the property of the Company, situated in Park and Lake Counties, in the State of Colorado ; and, after as care- ful an investigation as time and circumstances would admit of, respectfully submit the following as my report : I first visited the six claims situated on “ Buckskin Joe ” Mountain, near the town of Alma , Park County. I found that the shaft on the “ G. W. Kasslen ” had been sunk to the depth of 44 feet, at which point low grade ore was found, with positive indications of an improvement in quality as the shaft was lowered — the shaft having first passed through strata of lime rock and thence through por- phyry, or what seemed to be a species of lava, the lower portion of which is generally found overlying and in contact with the mineral in that section of the country. This is the only shaft that has been sunk upon the property, and is dis- tant from the “ Fanny Barrett ” about 2,000 feet. These claims extend across the spur of “ Buckskin Joe ” Mountain, on a range with the “Fanny Barrett,” the latter being situated nearer the summit. The “ Fanny Barrett ” is considered, by many experts and practical miners, as one of the richest mines yet discov- 14 erecl in that State. At a depth of five feet from the surface low grade ore was discovered. A shaft has been sunk upon this property to a depth of 65 feet, 60 feet of which is through mineral, stated as ranging from top to bottom, at from 30 to 325 ounces per ton. The thickness of the lode has not yet been ascertained. Drifts have been made in different directions from the main shaft, at various locations, extending from 30 to 40 feet, with no change in the character of the mineral from that discovered in the shaft. I am justified in saying that on comparison, the property of your Company contains the same metal, but to what ex- tent cannot be determined until the shaft has been sunk to a greater depth. The indications of the surface with those of the mineral, are that the mines will be found equally as rich as the “ Fanny Barrett.” On the north side of the mountain the mines known as the “ Buckeye State,” “Earnest,” and “Phillips” have been opened; the two former containing iron, silver and galena. The latter adjoins the “ Cheesman ” (one of the group of this Company’s mines), aijd has produced in the upper strata above $c 00,000 in gold : the lower deposits con- taining iron, galena and silver, simtlar to that found in the ‘ Fanny Barrett ” and “ Kasslen .” On the south, and nearly opposite what is termed in the group the “ Upper”, is the “ Good Samaritan,” rich in min- eral same as the “ Buckeye State ” and “ Earnest ” on the ogposite side. The “ Orphan Boy,” on the south side of the monntain, is near the property of this Company, and about on a range with the “Phillips,” the upper deposits gold, the lower sim- ilar to those of the “ Phillips.” The “ Tender Foot ” is a mine that is being opened at the foot of the mountain ; product, free gold. These gold de- 15 posits are evidently washings from the upper portion of the mountain. The six claims of this Company at this point, contain up- ward of sixty acres, a large portion of which is heavily tim- bered — an essential element in successful mining. The town of Alma is distant from these mines about two miles, situated in the heart of one of the richest mineral districts in the State of Colorado. It has a population ol about 300, which is rapidly increasing. The extent of the mining business in the vicinity will be comprehended by the presence and braying of the numerous donkeys passing in and out of town, which furnish transportation for the mine- ral from the mines, and supplies for the miners. I have rea- son to believe that the town will be supplied with railroad communication by the middle of next summer, and that a smelting furnace will be erected in the course of the coming spring. With these facts before you, you can readily form an ap- proximation of the value of your property in this locality. At F airplay, the county seat of Park County, I ex- amined the records in the office of the County Clerk. The claims had been duly and properly recorded, with no pre- vious or adverse claimants. The title to the property is without dispute. I next visited the “Hercules” and “Hazard ’ mines, situated on Fryer Hill, in the vicinity of the town of Lead- ville, Lake County. The “ Hazard ” is virtually an exten- sion of the “ Little Chief ” in point of direction, and ad- joins the “ 0 K,” the “ Hercules ” (one of the Company’s claims), and also the “ Carboniferous,” which latter adjoins both of the Company’s claims. These, with other contig- uous mines, have been so elaborately reported upon, and are so well understood as to require no statement from me to those who have made themselves familiar with the district. 16 Through the courtesy of Gen’l H. B. Bearce, General Supt. of the Little Pittsburg Consolidated Mines, we were permitted to descend the shaft and examine the work done by that Company, which, from a careful inspection, not only shows thoroughly systematic mining, but a body of mineral such as has never before been discovered in any other part of the continent. The reports by the various Companies, of this deposit, seem fabulous until you are present and real- ize the truth of the statement by seeing it in person. To give an idea of this deposit, I adopt the following from the report of the Little Pittsburg Consolidated Mining Co., which can be relied upon : “ The pn sent development shoivs conclusively that nearly the entire ground covered by the four properties is under- laid by a vein of ore from 4 feet to 35 feet in thickness , av- eraging 110 oz. silver and, 25 per cent . lead to the ton. u In numerous places large ore bodies have been exposed , which assay from 500 to 1,000 oz. silver to the ton. u It is easily mined and reduced , cost of mining being about 10 per cent. u The vein lies nearly horizontal in the earth , at a depth from 60 to 150 feet below the surface , and varies from 4 to 35 feet in thickness .” The “ Hercules ” and “Hazard ” contain a fraction over 17 acres, and are, doubtless, underlaid by the same deposit described in the above report, both as to the thickness and quality. The dip of the “ Little Chief ” inclines in the direction of the “ Hazard,’" both in mine and surface, which indicates that the mineral deposit will be found thicker and richer as we follow the direction of the dip. This opinion is concurred in by all experienced miners and experts, and, we may say, is confirmed in the sinking of the shaft on the “ Hazard,” as 17 stated in the report of Gen’l Bearce, which, with a recent letter from that gentleman, I submit as a part of this report. An engine has been recently placed upon the property, and the work is being rapidly prosecuted under the super- intendence of Gen’l Bearce, whose recent reports assure us that the indications are that a rich body of mineral will be reached at no distant day. It is generally conceded by all familiar with “ Fryer Hill,” with whom I conferred during my brief stay at Lead- ville, that the “ Hercules ” and “ Hazard ” will be found, upon full development, among the richest mines in the group. This fact no one acquainted with the location seems to doubt. The records in the County Clerk’s office and the Land Department, so far as could be ascertained under a careful examination at both places, show that the title to both the “ Hercules ” and “ Hazard ” is clear. Gen. B. M. Hughes of Denver, and Capt. S. P. Rose of Leadville, who stand at the head of the legal profession in that State, are the attor- neys of the Company, and will furnish a brief of title at an early day that can be implicitly relied upon. No other claims to these properties are recognized at the land office in Denver. The legal notice has been published in due form of an application for Government Patents to both prop- erties. I consider that the title is clear and distinct on the “ Her- cules ” and “ Hazard,” the records showing no defect in the title of either. The property is in the hands of Gen. Bearce, who is emi- inently qualified to take care of your interests in every re- spect. In conclusion I would say, that in my judgment you .may congratulate yourselves upon having acquired a good title 18 to two of tlie most valuable mining properties, in proportion to tlieir extent, in the State of Colorado, which statement time, perseverance and good management will fully verify. Respectfully submitted, J. E Peyton. (COPY.) J. B. Chaffee, Prest. J. C. Wilson, Manager. Geo. C. Lyman, Secy. H. B. Bearce, Supt. LITTLE PITTSBURG CONSOLIDATED MINING CO. Leadville, Col., December 5, 1879. Col. J. E. Peyton, Dear Sir: — I have just returned from a careful examina- tion of the underground workings of the “ Hazard ” and Hercules ” mines. The prospect could not be more flattering for a rich find than they are. The headings in both swells being in as good a body of iron as has ever been found on the hill. I am very confident we are near a large body of ore. Whether I can strike it on the present swell or deeper can only be deter- mined by further developments, which I am pushing as rap- idly as possible. Respectfully, H. B. Bearce.