The mountain gets its name from the Bachelor mine which was one of the first discoveries. This claim was located by a Mr. Bennett in the year, 1885. Mr. John Herrick, a jolly bachelor of Denver, formerly of New York, had been pounding away in this claim for several years; but not until the mountain had given up millions to others, did he wrest a fortune from her rugged breast.
Slowly up the mountain-side the lone prospector worked his way. Some float was found and traced along through the heavy forest. Now and then the great roots of the pine trees forced some rich-looking rock to the surface, and the prospector was tempted to stop and dig, but the float kept cropping out. There was mineral in that mountain and he would follow the outcropping until it disappeared.
Already the prospector began to dream day-dreams of fortune and fame. Slowly up the mountain he toiled, finding fresh signs of wealth at every step. Once in a while the temptation to stop was so great, that it was almost irresistible; but still he went on. When half-way up the long slope, the outcroppings disappeared and he turned back. His trained eye soon led them to the proper place and before the sun went down that day, Creede had laid the foundation for the fortune of not less than a half dozen people.
MR. ALLENBY,
Foreman of the Amethyst.
The new find was called the Amethyst, and upon this vein are located now the Last Chance, New York Chance, the Bachelor and a number of other valuable claims that are worth, or will be when silver is remonetized, from one to five million dollars apiece.
In May, 1892, the Amethyst Mining Company was incorporated.
Mr. D. H. Moffat was elected president; N. C. Creede, vice-president; Walter S. Cheesman, secretary and treasurer, and Captain L. E. Campbell, general manager. A tramway was built to carry the ore from the mine to the Denver & Rio Grande Railroad Company’s track, which cost the Amethyst company many thousands of dollars. Splendid shaft and ore houses were built at the mine, making almost a little city where Creede had walked through a wilderness of pines. The Last Chance, adjoining the Amethyst, owned by Senator E. O. Wolcott, and others, spent a fortune in development work; but the mine has yielded millions to its owners. To Mr. Jacob Sanders of Leadville is due the credit for having organized the Last Chance Mining Company, one of the strongest in the camp.
When the news of the incorporation of the Amethyst Mining Company went out to the world, many inquiries were made by brokers for stock; but none was ever offered for sale.
The capital stock, five million dollars, is divided as follows; Mr. Creede owns one third, Mr. Moffat one third, Captain Campbell one sixth, Mr. S. T. Smith and Mr. Cheesman, a twelfth each. When the statement is made that this mine for some time paid a monthly dividend of ninety thousand dollars, it is easy to figure the daily income of any or all of the gentlemen interested in the property. What a striking example for the monometallist who argues that silver can be produced at a profit at the present prices; but it stands as a well-known fact, that, taking the whole output of Creede camp from the date of the discovery of the Amethyst vein to the present time, every ounce of silver that has gone down the Rio Grande has cost the producers more than a dollar.