GOLDEN CYCLE MINING & REDUCTION Stock 1920 Cripple Creek Gold Inc 1887 D Moffit

Description

The
Golden Cycle Mining and Reduction Company
. Stock issued on
June 15, 1929 at Colorado Springs
, Colorado. Incorporated in 1895 in the State of West Virginia. Offices in Colorado Springs. Embossed company seal lower center. Certificate No. 14727 was issued to J. G. Duncan for 500 shares of capital stock ( per share).
Company capital was ,500,000
. Hand signed by company president and secretary. Certificate is about 8.5” x 11”. Black print with brown overprint/underprint.
Large vignette with the company’s massive milling and smelting plant at Colorado City, with "The Largest Cyanide Mill in the U.S. - Daily Capacity 1200 Tons" printed beneath vignette.
The Golden Cycle Corporation was incorporated in 1895 as the Golden Cycle Mining Company. The name changed in April, 1915 to The Golden Cycle Mining and Reduction Company, and in July, 1929, the name again changed to The Golden Cycle Corporation.
The company was originally incorporated in 1885 by David H. Moffit, a Denver banker and financier. By 1900, the company had acquired many mining operations when it was sold to John T. Milliken of St. Louis. Milliken built the Golden Cycle Mill in 1906 south of Colorado Springs, at Colorado City (Pueblo County). He chose the site because the area had a good supply of water, the trains from Cripple Creek had a down hill run, and because of the availability of the vast supply of soft coal needed to roast the ore from the areas just north of Colorado Springs. Because of the high sulfide content of Cripple Creek ore, the smelting process required that the ore be crushed, roasted, and leached with cyanide. The coal necessary for roasting was close at hand near Rockrimmon, the Black Forest, and the present site of the Air Force Academy. It was proved cheaper to bring the gold to Colorado City, than to take the coal to Cripple Creek, and the Golden Cycle became one of the town’s major employers. The working class neighbors around Colorado City were within walking distance of the mill. In 1907, a fire destroyed the mill, but Milliken had a more modern and efficient mill completed in 1908. The success of the Golden Cycle forced all other mills in the area out of business and it acquired most of the lucrative Cripple Creek business. Milliken sold the mill and most of his mines in Cripple Creek in 1915 to Albert Carlton. Carlton had several successful projects in the mining district and was the instrumental force in starting the Midland Terminal Railroad. The Midland terminal linked the mining district with the town of Divide. From there the ore was picked up by the Midland Railroad and transported to Colorado City. Now, with his purchase of the mill and over 100 mines from Milliken for .5 million, Carlton was crowned the "King of Cripple Creek". Carlton ran the railroad, mill and mines until his death in 1931. Albert's brother Lester took over the operations until his death in 1938, when Albert's widow, Ethel, ran the business. The Golden Cycle was then the only gold refining mill left in Colorado. Mines in Park, Golden and Gilpin counties had to ship their ore by train to the Golden Cycle, where it was refined and sent on to the U.S. Mint in Denver. By 1935 the mill had processed 468,000 tons of gold ore at per ton.
Condition:  Very Fine
, two light vertical folds, very minor creasing, no tears, very light water staining top border, light signs of wear/handling/toning (see photos), punch cancelled.
Printer:
Smith Brooks Company, Denver, Colorado.
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