The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1906-11-18
NIXON'S MINING
MERGER BUYS
OUT RIVAL
Gold6eld Consolidated Sc
cures Combination Claims
50 Prevent Litigation
BIG DEAL CLOSED
IN san FRANCISCO
Acquired Property May Be
Ultimately United With
Purchasing Corporation

OIJII1dUeIN OQ1Ceu w 1Cn
Purchasing Corporation
As the result of series of meetings
held in the parIors of the ST. Francis
Hotel. Senator George :. Nixon and
George WInEheId. who a few weeks
ago effected the s5O.0o0.Oo0 merger
styled the GoIdfeId Consolidated Mines
Company, secured yesterday for their
company the Combination mines. mills
and water power lying between the
Mohawk and the January in the Gold
aeId district.
The Combination mines were owned
Jointly by the United States and Brit
ish Columbia Company and a Chicago
syndicate. whose representatives have
been IN conference with Nixon and
Wingheld in this city for several days
This second big coup erected by Nixon
and Wingheld. acting for the Goldheld
Consolidated, not alone makes prob
able the formation of new s1O0o0.0O0
corporation. but it viii have the effect
% putting al an end the impending
litigation which threatens to plunge
Goidheld into the legal miseries that
cost Butte shareholders millions in the
notorious inze-Anlalgamated fights.
II was the desire 10 avoid litigation
that first induced Nixon and wingheld
70 add the Jumbo and Red Top to the
Mohawk claims through the organiza-
tion Of the GoIdheld Consolidated, with
its s5o.ooo.oOo capital Now by the
acquisition Of the Combination the
Consolidated seems 10 have paved the
way for peaceful mining operations in
the Cold field district
ANOTHER CORPORATION
The price paid for the Combination
property Of ten fun claims and three
fractions. aggregating 200 acres.
twenty stamp mills and extensive
power rights. has not been given out.
But as the property, Of which q few
thousand feet only have been worked,
has paid s7ss.Oeo in twenty-five sue
cessive monthly dividends and pro-
duced- ore 70 the value OF s115O, 900 in
the last nine months. the consideration
was undoubtedly large.
The newly acquired property may
ultimately become a subsidiary of the
Gol6held Consolidated. but il is under
stood that z new corporation. with d
capitalization Of s10,0oo.ooo. Of which
s. 100000 viii be placed in the treas
ury. is to be organized by Nixon and
Wingheld at once. This viii probably
-
STOCK Of the new corporation for Cold
field Consolidated stock and 2 single
mana cement Of the neighboring prop
critics. Meanwhile 1t is claimed, and
the claims are based on the present
earnings Of the Combination property.
that with the danger Of expensive It'll
cation removed and the extension of
the milling capacity by the addition of
rev units the new corporation can
earn $1,000 900 q year on the proposed
stock issue.
The deal is one Of the most import
ant ever consunmated In the GoldheId
district. and while it has been in con
temptation capitalists in San Francisco,
New York. Butte, Duluth. Ely. Colo
rsdo Springs salt Lake and Tonopah
are said 10 have applied to underwrite
the securities Of the new company.
which viii be styled the GoldheId Com
binstion Mines Company.
DAVIS A GOOD GUEssER
Senator Nixon, confirming the con-
summation Of the deal. said last night:
Our present control OF the Com
binstion property is TO be exercised
through an option obtained by LOTUS
& Davis. James R. Davis is respon-
sible for getting the proposition
through in the shape we md it. He is
the discoverer Of ore on the Sandstone
and Great Bend properties. He con-
trolls the cold Bar OF BulIfrog and the
Nevada Hills OF Fairview. and he
planned the shaft which cut the vein
Of the Combination tract He is. as
some one said today. the best guesser
in the camp and has never picked a
loser expect some of his salt Lake
and Tonopah friends, Charles Knox.
for instance, George Gun Of Ely. sher-
wood AIdrich of Colorado Springs and
perhaps. sam Newhouse TO come in
with US on this deal, which is. taken
al in al. the most important transac-
fion among the many of the current
year that have made Goldheld famous.
I'VE organize the new consolidated
company on next Tuesday Governor
Davis is bringing the Incorporation
papers from Denver"