The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-09-29
A subscriber, Fort stsiiacoom, wash.


Subscriber, Fort steiiacoom, wash
Leasing companies and leasing syndi-
Gates are organized and Incorporated the
same as holding or regular mining com
panies. with this exception: The latter
own ground and have real assets-while
the former or leasing company own the
right to operate others ground only.
For instance-a number of people not
owning any ground of their own wish
to get into mining, and they secure a
privilege or lease to mine another's
property. They pay a rental or h is
called a royalty for such a privilege.
The royalty is usually 20 to rs per cent
of the gross production. These leas-
ing companies are as a rule not capt.
talized nearly so high as regular hold
ing companies. They have treasury and
common stock as do other companies,
and sell treasury stock for development
purposes. When their lease or privilege
expires, the company has no assets UNI
less II SHOULD have taken over some
other lease. A number of these COM
panies have recently been formed in
Goldfeld to work on promising property,
which the companies owning same are
unable or unwilling. for one reason or
another, TO undertake to work. A num-
Der of these leasing companies have
been very profitable. Leasing, as a rule,
is only undertaken where the chances
are known to be better than even.
The mpa which you mention owns
both real property and a lease. The
lease terminates the first day of Janu-
airy, but the Company is left with a full
- ~1Ar XhA hna.t nf tho HfGfrfafs
therefore, the stock will continue to
have a basis of value after the lease,
which the company is now working, has
expired.
J. A. s., Frankfort, Ky.-Our attention
has been called to an error made In this
department some weeks ago in regard
to the affairs of the Goldfield Ledge
Mining ompany There is no difficulty
over the title of the property which con-
sists of five claims located six miles
southeast of Goldfeld. The Goldfeld
Ledge Mining ompan is a Denver cor
poration and has spent something like
$4,000 prospecting the ground COM
prised in their holdings. Some good as
says have been had from time TO time,
but so far we do not know that any
pay ledge has been opened up. The COM
pany is working a force of miners on it's
ground, the development work being
lone under the supervision of Engineer
Thomas NJ. withers. This group was
formerly known as the Cleopatra, and
our error in a former issue was due to
a confusion of names.
b. E., Brooklyn, N. Y.-The Goldield-
Orc Mining company owns ground To-
Gated on the easterly slope of Columbia
adjoining the Booth and al
ready a very good showing exists. The
shaft was sunk 80 feet and considerable
drifting was done on a strong ledge
which carries values of from IS to SIC.
At present a gallows frame is under
construction and a hoist has been pur-
chased and is on the ground. 1t is the
intention to sink from 800 to 500 feet
and develop extensively. The treasury
is in excellent condition. The capitaliza-
tion is 1000, 900 shares. 100000 of which
are treasury. The officers are Henry
Weber, president; Uri b. Curtis, vice
president and VIM. G. Ish, secretary.
L. X. B., Memphis, Tenn, ct al-Re-
garding the Ajax Bullfrog Mining COM
pany, would say that advices from one
of the best known engineers of the
southern country are to the effect that
the Bullfrog Ajax has most excellent
properties at Crescent. and that devel-
opment work is being pushed with good
results. Mr.. M. l.. Cook, mining en-
gineer, S~earchlight, writes: THE Ajax
Bullfrog Mining company owns a group
of claims in the Crescent district, To-
Gated about IA miles from Searchlight.
This is a good piece of property, / hav-
- -
been on the ground %patenting the same"
The clippings sent us are probably cor
rect.
r. n. A., Columbus, o.-The News
reported on the GoldfieId Nighthawk
Mining compan in the issues of June
% and July IA current. The conditions
now are practically the same as at that
time and the demands upon the editor
of this department are such that reports
on the same property cannot be made at
such frequent intervals unless some
thing new develops or the inquirer is
very particularly DESTROYS of additional
information. The property in question
is well located, in good financial condi-
ton and good hands.
L.. M. J., Coroopolis, Pa.-The firm
you inquire about is one of the largest
and most substantial, financially, in
Goldfeld or Nevada. Their promotions
nave been successful and their stocks
are all selling above the original fota-
tion price.
T.. ". M, Cedar Rapids, Iowa.-Your
inquiry. in regard to the Manhattan
Gold Standard Mining company. was
answered in last weeks paper to which
Won will refer AQ tn the matter OF
listing stock we suggest that you write
to the president of the company.