SMITH, ABBOTT AND CREEDE--AGREED THEY ABANDON THE HOLE.
In 1886 at Monarch, George L. Smith, Charles H. Abbott and N. C. Creede
formed a company for prospecting purposes. Smith and Abbott were to
furnish the funds, while Creede did the searching. This company lasted
for nearly four years, during which time a number of locations were
made, some of which they could have sold at a good profit; but they
held on for more money, always spending liberally for the development
of their property.
[Illustration:
NO. 378 INTERIOR OF LAST CHANCE MINE BOARDING HOUSE
CREEDE COLO. MAR. 24, 1893]
Just before the little company went to pieces, Smith and Abbott went
over in the mountains to where Creede with two miners had worked all
winter, on Spring Creek. After making a thorough examination of the
prospects, it was agreed that they should abandon the hole and break up
the partnership. This action was not taken because of any disagreement;
but the men who were putting up the money were discouraged.
Just before visiting the property, Smith and Abbott received a letter
from Creede, in which he said:
“I notice by the general tone of your letters lately, that you are both
becoming discouraged with my hard luck. I assure you that I am doing
the best I can. Take new courage, stay with me a little longer, and I
shall find the greatest silver mine in America. I feel it in my bones.”
But they had tried so long and spent so much money, that they had
become discouraged.
Smith, since that time has made a small fortune out of mines. Senator
Abbott, who is well known and universally respected, is the manager of
a Monarch property in which he is largely interested. He has a home
in Denver where his family live; but spends most of his time in the
mountains, still toiling, and hoping that he, too, may find a fortune
in the hoary hills.