The Earth a Vast Treasure-box–$300,000,000 from the Comstock Lode–A Short Story of Three Millionaires–Opportunities in Mica Mining–Fortunes in Salt Wells–$10,000 for Locating a Mine–Not a Cent of Capital Needed–The Gold Belt of the United States–Two Men’s Earnings with the Pan–What Michigan Boys are Doing–Big Dividends in Tin–A Man with an Income of $2 a Minute.
The immense significance which minerals play in our industries and the glittering fortunes made by delving into the earth, are faintly indicated by the truth that the output of final 12 months aggregated the just about unthinkable sum of almost $1,000,000,000. Profits in mining come primarily from 4 sources. The shopping for of mining lands with a view to sale, prospecting for the aim of promoting claims, placer-mining, and mining by equipment. Here are a number of of probably the most promising roads to the earth’s hidden treasure.
353. NEVADA SILVERThe Comstock lode produced in three years $100,000,000, of which $30,000,000 went for price and dealing bills, and $70,000,000 for income. Altogether $300,000,000 have been taken from that celebrated mine. In the African mines there are sixty-nine corporations. In 1896 the bottom dividend of any of those corporations was 10 per cent., and the best 350. In 1897 the bottom was 10 and the best 500 per cent. The accounts of the way in which that such males as James Flood, James G. Fair, and William Sharon obtained their treasure from silver mines reads just like the fascinating story of a well-liked novel.
354. ALUMINUM, THE NEW MINERAL“The product of aluminum in the United States,” says a mining knowledgeable, “should be three million pounds in 1900.” The current worth is from thirty-five to fifty cents per pound. It is discovered mainly in Georgia and Alabama on the foot of the Appalachian system, however there isn’t a recognized motive why it shouldn’t be found in different parts–the mountains of Tennessee, North Carolina, and Pennsylvania.
355. NORTH CAROLINA MICAIn the mountains of North Carolina are discovered one of the best mica dikes within the United States, however the strategies of mining are crude and convey small revenue. Here is a chance to make an enormous prosperityby the manufacturing of mica with equipment akin to is utilized in extracting different minerals.
356. KANSAS ZINCZinc is a mineral which has an important future. It is getting used largely instead of tin. There are many zinc mines, and particularly within the Western States, as but undeveloped. One acre in Galena, Kansas, produced $250,000.
357. MISSOURI COTTASFor clay go to Missouri. It is present in 90 out of the 114 counties of the State. From this mineral three corporations in Kansas City are manufacturing sewer-pipes and dealing on an invested capital of $1,000,000. They have an annual output worth $1,100,000, or greater than 100 per cent. revenue, much less, in fact, the price of manufacturing. The sewer-pipe trade will vastly improve with the expansion of cities.
358. NICKEL MINESNickel is a steel for which there’s a continually rising demand. Aside from the huge variety of nickel-plated articles, it has not too long ago been discovered that metal, alloyed with a small share of nickel, makes the toughest substance recognized which may be produced on a big scale. It is sure for use in future for the shells of our ironclads. In North Carolina and in Oregon, are massive deposits of this useful ore awaiting the hardy miner or daring speculator.
359. MEXICAN IRONNear town of Durango, Mexico, are the most important iron mines in North America, however as but totally unworked. There are 10,000,000 sq. toes in sight, sixty per cent. of which is metallic iron. An alternative for capitalists.
360. TENNESSEE LIMESTONEIn the foothills of the Cumberland Mountains are ranges of blocks–lower Carbonifererous and Devonian shales, and impure limestone, however the rocks of the basin correct are pure limestone. This limestone when pulverized makes one of the best phosphate, and is value $18 a ton. A mining authority states that with correct working it ought to provide not less than 200,000 tons of rock each year.
361. FORTUNES IN COPPERForty-eight per cent. of the copper of the world is within the United States and Canada. The worth is $200 a ton. Almost all of the mines of the Lake Michigan area are making revenue, however the trade is but in its infancy. When it’s recognized {that a} mine has been made to pay which accommodates lower than one per cent. of copper, it may be seen what fortunes are in the mines that pay from forty to fifty per cent., and there are some that pay much more.
362. GERMAN AMBERIn Memel, Germany, a dredging firm pays the federal government an annual rental of twenty-five thalers a day for the privilege of dredging within the Kurische Hoff, close to the village of Schwarzarts. But it’s not to be supposed that that is the one spot the place amber is to be discovered. It will likely but be found on this nation.
363. AFRICAN DIAMONDSDiamonds in huge numbers are discovered within the beds of many South African streams, however when you have capital you might develop an trade like that of the De Beers Company, which is paying forty per cent. each year.
364. TASMANIA TINA single firm in Murat Bischoff has paid greater than $7,000,000 in dividends to the lucky homeowners of a tin mine.
365. GEORGIA SAPPHIRESIn 1872, Colonel C. W. Jenks, of Boston, picked up 100 of those useful stones at Laurel Creek, Rylang County, Georgia, a single gem of which was bought for $25.
366. ROCK SALTRock salt is present in Syracuse, New York, and in Michigan, additionally in Louisiana, and in South Eastern Arizona. It is believed that if these mines had been bored deeper, potassium salt–a salt hitherto not discovered within the United States–would be found, and residential crops take the place of overseas imports. Here is an opportunity for enterprising males.
367. ASBESTOS POCKETSA worthwhile pocket of asbestos was discovered a number of years in the past on Long Island not removed from Brooklyn. Present provides come from Sal Mountain, Georgia, and from Wyoming. It is believed that the serpentine rocks in Western North Carolina, in addition to related rocks in California and Oregon, include wealthy deposits of this mineral.
368. PROSPECTS IN PLATINUMThis is a steel of very nice significance. It has not up to now been present in massive portions within the United States. The most promising subject is the North Pacific Slope, following the road of the coast mountains. Some day, it’s thought, that wealthy platinum mines could also be found there equal to these in Russia, and, in fact, the early prospectors will reap massive fortunes.
369. PETROLEUM WELLS“Petroleum,” says a number one article within the _Electrical World_, “is the coming fuel.” It is believed by many who the joy over the invention of oil fields in Pennsylvania in 1865 can be repeated on a a lot bigger scale in oil areas but to be found within the far West. At current, the mountains of Wyoming look like probably the most promising subject. To sink an oil effectively prices $500 on the common. On Oil Creek, Pennsylvania, a number of wells have been struck which yielded 3,000 barrels a day. One of the quickest methods to build up a prosperityis to prospect for oil, and when a wealthy vein is struck to purchase as a lot land as you’ll be able to. A younger man named Johnny Steel as soon as owned almost all of the land the place the Pennsylvania oil wells had been found. His revenue was over $1,000,000 a 12 months, $30,000 a day, or about $2 a minute. But, verifying the adage that “a fool and his fortune are soon parted,” he not solely spent all this huge revenue, but additionally squandered your complete principal, and got here ultimately to work as the driving force of an oil wagon on the very oil farm he had as soon as owned.
370. GOLD DISCOVERIESDraw a line from Colorado Springs, Colorado, north to Laramie City, Wyoming. From these two factors draw straight strains one thousand miles to the west and inclose the parallelogram. You have inclosed what is named the good gold belt of the United States. Nearly all of the gold has been found inside these comparatively slender limits. Cripple Creek produced $8,000,000 in 4 years. A person who walked into that place three years in the past to save lots of his stage fare is now taking out $100,000 a 12 months from his mines. Dawson City, method up within the frozen British possessions, guarantees to do in addition to any gold discovery within the United States. Two males, the Thorpe brothers, cleaned up with their pans $13,000 in eight weeks. This was however a really small a part of the immense quantity of gold present in an insignificant creek, however there are not less than 5 hundred creeks on the branches of the Yukon River, a lot of them little question as wealthy because the one which gave Dawson City its fame.
371. PROSPECTING FOR MINES“How many undeveloped mines are there west of the Mississippi, which, if developed, would be valuable properties? There may be ten thousand. It is far more likely that there are a million.” Extract from “Mines and Mining Industries in the United States.” The identical authority additionally says {that a} prospector who has spent a 12 months in finding a mine ought to obtain $10,000 from a capitalist as his share. Mark this, you who suppose mining has no prospects, apart from males of treasure.
