Los Angeles herald., 1906-12-02


negotiable value Of securities that are
held in all parts OF the country.
Leasing has made the year 1905 the
greatest I'm the history Of gold mining
in all ages, and although It has mace
many millionaires In Goldheld, the
greater portion OF this new wealth has
gone into homes in every state In the
| Union This is but the beginning, ana
the year 1907 should show double the
records made in the present twelve
months.
Greater Than Wall Street
The enormous production of gold and
| the remarkable enhancement of values
of mines on the money map, have al
most given Goldheld n surfeit of
money. The money per capita in
Goldheld is greater than the per capita
wealth In the Wall street district of
New York. One of the most remark
able conditions is the large amount of
money on deposit in the Goldheld
banks. The bank Of John S. Cook and
company has deposits OF 100000 al
though the bank capitalization was
only $4,000, but recently Increased to
$250,000.
There are $2,OOO,OOO on deposit in the
state Bank and Trust company of
! Goldheld and that Is only a branch of
that institution, which also has enor-
nous deposits at Tonopah and has a
capitalization of only 100000.
The Godfield branch of the Nye ana
Ormsby county bank with a capitali-
zation of only 100000 for it's entire
chain of banks, carries deposits to the
amount of 81 100000. The total of ready
cash in Goldfeld is about S10,0OOOOO,
and the local deposits are being in
creased at the rate of about $500,000 a
month.
one of the bankers who help to
handle these enormous sums is j. l..
Lindsay, cashier of the State Bank and
Trust company and secretary Of the
Nevada Title and Trust company. Be
sides being a banker, Mr.. Lindsay is q
thorough mining man and has made a
fortune in leasing. He is about oil
years old and formerly was mayor of
Cripple Creek in Colorado. His lease
on the Florence mine alone is produce
ing about $4,000 a day, and his holdings
ali over the Goldfeld district represent
an enormous sum- He is associated
with Hayes and Monnette, w. K. Rob-
insoh and George Vickers. as well as
other leading mining men who place
great value upon his advice.
Success of Wngfield
sStriking as an example is George
Wingfield, moving spirit and organizer
of the Goldfield Consolidated Mines
company, which is capitalized at $780,
100000, and takes in the Goldfeld Min
ing company, the Combination, Mo-
hawk, Jumbo, Red Top, Jumbo Ex-
tension and Laguna. Wingfield was a
cattle man, but all men In Nevada are
born miners. 1t is only three or four
years since he rode into Winnemucca
and formed a partnership with George
Nixon, who was a banker there. Wing
field went to Tonopah. where he made
q comfortable fortune for both of
than Than thpy hrpnphaI i'm 1no
ing, and in buying up mining prop
critics and developing them. Wing
field has wonderful ability in pick
ing out prospects that will be-
come mines, and practically every
thing that he and his partner have
undertaken has been success. and the
people of Nevada have honored George
Nixon with seat in the United States
senate.
When the Mohawk became the min
ing wonder of the world, and the adj
joining mines had proved themselves to
be of enormous value, Wingfield con-
ceived the project of making the larg-
est and richest single gold mine in the
world. With the aid of Mr.. Carstairs
of Philadelphia, John S. Cook and few
Others he began buying up control of
big mines. The purchase of control of
the Jumbo and Red Top from the Tay-
lor brothers involved millions, and
Wingfield paid cash. He also saw the
difficulties which threatened in the apex
suit of the Mohawk against the CONF
bination mine. He acquired control Of
that mine also, and now it has been con-
solidated in one great company where
there can be no further cause for dis
pute as to apex rights. He showed his
shrewdness in discovering the large
blocks of stock still in the treasures of
the various companies, and when he OBJ
tanned control of the issued stock it
also gave him control of the vast sums
represented in the unissued treasury
stock.
When he completed the organization
of the Goldfield Consolidated Mines
company his personal fortune was esti-
mated from $40, 900, 900 to $12,00O,000. Mr..
Wingfield is about 2S years old. keen
and shrewd in business. He owns prop
erty which, when fully developed,
should make him count his wealth in
nine figures. However, Mr.. Wingfield
has only taken his just share, and the
greater part of the wealth he and his
associates have created has been dis
tributed among investors all over the
country.
Tex Rickard is a youthful cowboy