The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1905-05-26
WEEKLY MARKET LETTER.
Comments on the Local Situation by
Kenneth Donnellan q Co.
GoLpF1ELD, NEv.. Nav rs, 1905.


That Guldtirld il on a firm substantial
ba~is a. far az business is concerned was
never more clearly demonstrated than
during the past week. The close at q
b tnk IN most communities is the cause
,or alarm and general depression in all
lines uf business. The first day or tw,
after the unfortunate occurrence of iht
first uf the week in the closing of a lucaI
bank had the effect of making business
quiet, but that M alarm was felt. out
Idle of the few unfurtunates who We're
caught. demonstrated itself in all
branches of business.
While the buying was somewhat less
than the previous week, yet the holders
ri the stock held on, demonstrating the
tact that the better class OF investors
are aware that this slump is only tenn
porary, and thai by holding the stocks
they will not only make good interest ON
heir investments, but also Il handsome
profit this is certainly a good indica-
ton for q camp the age of Goldtield.
The public outside of Goldield, too,
showed their faith in these stocks by
holding on and not being frighten' d A.;
his was demonstrated 10y the steady
though low prices prevailing in Gold
field stocks.
One of tn. most important happenings
al the week was the investigation by the
Rye Patch Water company of the water
conditions existing in Goldtield. We
lave stated before in oar letters that
Il c several mills which have been erect
eel aud were III process OF erection IN
,ioldiield would do a great deal towards
establishing the ~perinanency of Gold
Ield. In case the aforementioned VA
ter company decides To bring the water
nto Gnldtield they will bring it in in
-uch quantities a. to make il of advan-
age 10 the mills, and they will put it in
here mt such a price as to materially re
,luce the cost oil reduction OF ore; that
this Will he OF great benefit to the lower
grade propositions l unquestioned, and
he people of Goldfield are entering into
| the proposition with a vim, and we hope
soon tn chronicle the fact that this wa
ter will be brought in, which, together
with the advent of the railroad and the
bringing in of cheap electrical power,
will put Goldtield on a basis second to
none among the mining camps. The
above conditions will not only make the
reduction OF ore cheaper, but will re-
luce the cost OF production, and it gives
as pleasure to state that the business
men OF Goldfieid are taking hold of these
enterprises enthusiastically, knowing
full well what benefit will be derived
thereirOm.
There is bnt little difference to chron-
icle relative to the prices between the
i close OF this and last week we can only
reiterate our statement of the last two
weeks, hat those who buy now will
reap a good profit"
Goldfield Mining remained about the
same as last week and in good demand.
The new pump is now working on thu
January with very good results; sinking
has commenced and the lifting of ore re-
sumed. Some Of the ore which was ia
ken out by the leasers is now being
worked through one of the local mills
with very good results.
Jumbo remained inactive.
Red Top was in good demand with
prices steady sinking is going on in this
property and we look for a shipment to
be made soon. When this stock COM
mences to move it will go rapidly.
Jumbo Extension and Vernal fell off
some during the week.
Columbia Mountain, Adams, Blue
Bull and Mohawk were inactive.
The situation at the St. Ives has never
been better; actual development is 60
ing on and when the contemplated ship
ment is made this stock will go by jumps,
AS the shipment will be a large one and
| valuable. -
Diamondfeld fell off slightly during
the week, but at the close of the week
was in demand at about the same prices
which prevailed last week.
Personal examination of the Sand
storm property was made by this firm
| during the week and most satisfactory
results noted. The new strike on lease
No. 10 promises to be n of the great
est interest to the holders OF this stock.
The ledge which has been struck in this
lease is strong and has every indication
of permanency, the values running high
er than expected. Further development
on this ledge, we are certain, will verify
our statement made last week-that the
SaI dstorm will prove n of the great
est properties in this district. Every
indication points to the fact that the
ledge SO struck is a continuation of the
rich ledge opened up on No. 5 on which
our readers are thoroughly posted.
Black Butte showed the greatest
strength of any OF the stocks in Gold
field this week, being largely in demand
and prices advancing Sc during the week;
this stock will go higher.
The business OF this firm has grown
to such large proportions that it became
necessary, in order to carry out the bus
mess TO better advantage, to incorpo-
rate our company; accordingly last
week our company was incorporated I'M
der the laws of Nevada, with a capital
~ization Of 5000 900, with 100000 paid
in. 1t is the intention of this company
to carry on the business with the same
attention to details and the advantage
OF our clients as prevailed heretofore,
and any orders placed with us will re-
ceive prompt attention. The new ar
rangement will enable us to give u
clients complete information speedily
On any properties or stocks which they
may call upon us for. Do not hesitate
to write for any information SO desired.
We quote subject to market fuctua-
tons:
LATEST BIDS:
Tonopah, common Did ........... .$13 90
-TOnopah ibid. ....... 3 05