Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1906-08-04
LARGE Incorporation OF
NEVADA MINES


announcements were made by Donald
Gillies and Malcolm Macdonald concern-
ing the plans for developing the many
mines and milling projects which
Charles M. Scilwab has interested him
self and friends in during the last two
years throughout southern Nevada.
There is much in store for the sage
brush State, it appears, from the state
ment of these gentlemen, who came in
from Butte and registered at the
Knutsford, They are just out from
New York, where they met Mr.. Schwab
upon his return from Europe, and came
west via Butte for the purpose of con-
ferring with United States Senator
Clark regarding the railroad situation
at Bullfrog.
Enthusiasm and optimism were writ
ten all over the c~ountenances of the
Messrs. Gillies and Macdonald as they
talked of the work which they will at
once proceed with upon reaching the
Nevada fields, and all of which betokens
a rapid increase in the development of
the southern Nevada camps.
"fYes," said Mr.. Gillies, who has
charge of all Mr.. Schwab's mining in
terests in the West, 1--WE are here
from New York, and are going back to
Nevada now to begin a campaign of
big work. A great many of the pre-
liminaries have been concluded in the
East, and henceforth progress will be
rapid.
II have not been in Nevada for some
time, and naturally know only in a gen
eral way that the conditions are inn
proving. Of the East, | can say that
Nevada and Utah are strong in the
estimation of the investing public.
Indeed, one hears Nevada talked of
favorably everywhere, and | believe a
great deal of capital is coming into
the State this winter.
1.-THE recent attacks on certain Tono-
pah stocks by New York brokers | can
not explain, except on the theory that
the market has been inactive during
the heated term, and the brokers de-
sire to get something moving on the
list, so they could get their commissions.
Mr.. Schwab's plans for various enter
prises will be explained by Mr.. Mae
donald, and further than this cannot
speak at this time"
Malcolm Macdonald talked at length
of the plans of Mr.. Schwab. He ex-
planned that a holding company has
been organized known as the Nevada
Smelling and Mines corportion, CAPT
talized for SIS, 1000, 900, and consisting
of 1000, 900 shares of a par value o.
SIS each. In the treasury are 400, 0O(
shares, and this stock is selling on the
curb in New York at So. so share
Malcolm l.. Macdonald is president
Henry L. Fridenberg of Tonopah is
secrtt ary; Arthur w. Joseph of New
York, treasurer and Adam Underwood
assistant secretary. M. R. Ward Of
Pittsburg, a relative of Mr.. Schwab,
is vice president. Adam Underwood
the assistant secretary, was formerly
private secretary to Senator Clark Of
Montana.
1t is apparent, therefore, that Mr.
Schwab has organized his Nevada in
terests solidly. and while havingghii
personal representatives in the execu
tive departments, extends the ACTIVE
arrangements to the most energeti'
practical men heS eOuld find. TIL
principal office of this company will b
in New York. andth ahief headquar
tiers of the western representatives vii
be at Tonopah, from which all tn
Nevada projects will be directed b.
Messrs.s Gillies and Macdonald.
The board Of directors, in addition I
hosetmentiohed above, includes Charlie
R. Miller of Philadelphia, Leonard A
Dessar of New York, Charles Z
Morris of Montana, E. A. Montgomer
of Nevada, John S. Weller of Pittsbur
and j, G. Butler, Jr., of Youngstown
Ohio.
g ! "The new holding company" e1
planned Me-. Macdonald, "has power I
embarkJin all the work which must
done. We have already several pr
ducing mines, many others that will
developed, and also can take hold
any new projects which may promi'
well. This arrangement puts the N
IA xvada, Smelling and Mines corporate
Is I'M an ,imvulnerable position.
w shall at once push the constru
ton of the mill at the Montgomer
Shoshone mine at Bullfrog, and
will treat all the ores which may cor
to US from other mines. We belle
that we will be able to make 81 Q
profitable to ship, and in this come
ton we were assured by Mr.. Clark