The Nome nugget., 1903-03-14

branch line from his road between Los Angeles and Salt Lake, distance of about l20 miles. and the Southern Pacific is considering the same propo- stion, and will probably build q spur line from Rhodes Marsh, a distance of 60 miles.
 It costs about S30 to get to Tonopah now. including the staging,
 Traverse would not advise anyone to go up there without money. as all of the claims are Staked, and for miles around, and the only way to get one i> to buy it. and no one is anxious to sell.
 A bit of the history of the Tonopah district is just now interesting. since it has come into such prominence. Soon after it's discovery by J. l.. Butler the outside world became aware of it, rich ness and offered various sums for his interests. to all of which he turned a deaf ear. Finally man named .. F, Turner negotiated with Butler and secured an option to purchase the prop erty for $336 0O0. The terms of the oI- tion called for the payment down of Sj0, coo. and to secure this Turner was forced to draw on John W. WOodside. of Philadelphia, with whom he was as sociated. He cooly notified Alr. Wood side by wire that he had drawn on him for S50.00o and he sure to honor the draft when jt came along. sending him at the same time by wire full partjcO- lar, of the great strike. The draft was paid, and the "Tonopah Mining Com panv. of Nevada" was formed with a capital of 300.000 shares of preferred stock and 1000 GOO shares of common stock of the par value of 9l each to ac- quire the property. The preferred stock was sold al par, and buyer, re- ceivcd with each share of preferred bonus of one share of common stock. Today the common stock iS in demand at S23 per share.
 Soon after the discovery Butler is sued hundred-foot lease, at a - percent royalty. and the royalties that the new owners received in the first month of the purchase reimbursed them for tLe amount of the draft, and other pay ment> were made by the proceed, of the mines. and thus the mines pad fer themselves, which is something un- known in the history of the mining world.
 The company that purchased thi, property is now giving employment to over zoo men and k shipping ore that is yieldidr $500 per ton, and the stock is still rising.
 One of the features of Tonopah i. it's stock eXchange, of which Henry Gut ting is president, which bears the same relation to the town as the chamber of commerce does to Il large city. It is the safeeuard. >aya Mr. Traverse, to the interest of every legitimate mining company in the district. and i- also in l tended to expose and destroy any and all wildcat schemes.
 To add to what appears to be an ex- 1 aggerated statement of this region. the Mizpah mine has eight developed par allel veins carrying rich ore, and it is said by expert mining engineer, that the wealth extends from the grass roots down.
 Buildings are going up rapidly in the town. Mr. Frank Golden is putting up S30,0OO stone building or one of the principal corners. He i- one ot the numerous millionaires of the district. There are more wealthy young men in and about Tonopah than in any other part of the world
 A recent deal was made by the TOno- pah company in the purchase of the eX- tenSivc coal fields between Belleyille and Tonopah.
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