Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1903-04-04
BIG MINING DEAL CLOSED
important Purchase. Merger Of dreal
Tonopah Properties.

Next in Importance to the origihal
purchase by Philadelphia capitalists
of the Butler mines, there has been
no more conclusive evidence oil the
unlimited confidence of eastern lnves-
tors in Tonopah than a final consum-
nation last week, which involves the
transfer of majority holding in the
IG. & H. Tunnel properties Inc
purchaser, it will be noted, is the
official head of the syndicate IN con-
troll of the Tonopah Mining Company
of Nevada, President Arthur BROCK,
while the parties who have declined
to dispose of their proportion OF the
nroperty will be recognized as two
Of the most successful and best in
formed mining men in Nevada. The
sale of mining title for considerably
over the prospectors' conventional
"stake" of $1,000 did not accord
with the practical judgment OF 1. l..
Oddie, general manager of the Tono-
pah company, and H. c. Brougher,
manager and heavy owner in the Gold
Hill company. They preferred to
to ioin interests with the owners OF
other properties adjoining but
further out from the central dis
coveries.
The original owners of the G. & II
Tunnel property were Cal. Brougher,
t. L. Oddie, A. L. Hudgens, ?. Man
ming and Robt. Gordon, their several
, interests being equal, Under incor'
alton the property was capitalized
at $1,000, 600, divided into 400, OOC
shares of treasury and 600, 600 o
! common stock, at par value of 8
each. May Gath, 1902, Arthur Brocl
e of Philadelphia, president of the Ton
+ opah Mining company, secured a tel
: months bond on the mine, making
cash payment of $4,000 each t.
# Hudgens, Gordon and Manning
+ Messrs. Brougher and Oddie re
t tanned their two fifths interest. Tn
: second payment, aggregating $50,
o 900, was made to Hudgens, Mannin
It and Gordon on December Gath, 1907
r On the Gath of March, 1903, the thir
$ and final payment, amounting to s24
e 00A, was made to the selling parties
upon which the transfer of their ii
terests to President Brock was con
pleted. Financial transfers wei
J effected through the Tonopah agenc
( of the State Bank and Trust con
} pany. Brougher and Oddie cou
II have sold at the same ratio, but the
II elected to retain their interests il
ID tact, fully realizing that the grour
is second in value to none save Il
e. great Mizpah and the Valley Vie
~ properties.
Since the bond was given the pro
ertv has been consolidated with ii
Belmont and Acenith companie
The G. &. H. Tunnel claims compri
40 the Occidental, Silver State, b
" mont, Del Monte, Ohio, |. o. .
Shoestring, Favorite, Tsuro and Ii
Belle. Later all these properti
- were consolidated under title of Il
Tonopah-Belmont Development COZ
pany, incorporated under the LAY
of New Jersey, with 1000, 600 shar
:, at par value of 81 each. These a
We divided into $50, 900 shares comm
and 1850, 600 shares of treasu
stock. The majority of the sto'
is held close by the original owne
:. and the Brock syndicate.
g. The great lodges trend or stri
nd directly into this ground. The De
cd ert Queen shaft, at a depth of 5
Il. feet, cut a ledge of good ore thr
no and one half feet in Width which h
nd an easterly sourse. At 585 feet q
~. other ledge was encountered, throuI
ii. which the shaft was sunk twenty-fi
If feet. This also has an easterly ire
ma and dips northwesterly at an ang
.re of seventy-five degrees from t
.re horizontal. The Belmont compa
=