The search for mineral wealth in Colorado led to the exploration of isolated areas like Silver Lake Basin in the San Juan Mountains. As surface ores were exhausted, miners were forced to increase the depth of vertical shafts where they confronted increasingly complex ores that required sophisticated equipment and engineering expertise to extract. Remote communities like Silverton sought Eastern investment to provide the capital necessary for development, creating a class of absentee owners vulnerable to dishonest promotion while lacking practical knowledge. Regardless, the success of deep mining in Colorado relied on the willingness to gamble. Although many Colorado mine owners resided in the state, few lived at the site of their investment. Edward G. Stoiber possessed several qualities that differentiated him from his peers. Not only did he live on his Silver Lake property, but his wife was also his business partner. Stoiber applied both physical and intellectual capital to his mine, which benefitted the region as a whole. He understood the business of mining and how to make a profit through meticulous development. By embracing cutting edge technologies, he proved he could balance his technical education with practical experience. Most striking was his benevolent approach towards his workforce and generous spirit that defined him as an atypical mine owner.
