Los Angeles herald., 1906-10-14
BOSTON CAPITAL
NOW IS ACTIVE
COPPER DEVELOPMENT NEAR
SEARCHLIeHT
Southern Nevada Promises to Become
Wonderful Producing Section.
Purohaoe Of Mining stock
by Wise Operators

lust recently it has developed that
the. Boston magnates who own the
ouartette mine have been quietly ac-
uuiring a number of copper prospects
IN the camps that surround Searchlight.
At Gina. on the Salt Lake road, this
coterfe of Quartette millionaires have
bought the Copper King group of twen-
ty claims for S120,000; $4,000 has been
paid down and the remainder Will be
Forthcoming in monthly installments OF
like amount. Already 10000 has
been spent for machinery to equip the
mines. and three shafts are being sunk
10 water level in order to demonstrate
the continuity Of the veins. The crop
pings on the surface are bold and OF
great width, carrying from to 10 per
cent in copper, and give Indications Of
great permanency. Further indications
OF the tremendous naturalization of
the region is that the copper veins are
paralleled by silver-producing leads,
and this calls to mind the fact that the
Gina copper district was once known
as Nuscal, a famous silver producing
region. Some Of the silver mines were
worked by the Mexicans in the days OF
Spanish occupation of California, and
the archives Of the former Spanish re-
Eime show that great amounts of the
white metal were produced In this dis
trict with arastras and other primi-
tive methods of mining.
Effect Of Experts Report
The entry of the Bostonese into the
Gina district followed the report of
famous copper expert, in which he
stated in no uncertain terms that this
was a continuation of great spur lead
ing off from Nevada's mother lode,
upon which were situated the great cop
per deposits of Furnace creek and
Greenwater. The report of the expert
disclosed the fact that the surface
formations in Gina. Searchlight's near
by copper camp, were Identical with
the massive lodges upon Patsey Clark's
famous Furnace Creek mine, 100000
shares of which are owned by Los An
geles investors represented by II. L.
Percy, treasurer of the Los Angeles
stock exchange. The Furnace Creek
stock was acquired by Los Angeles in
vestors at prices from rs cents a share
up, and is today worth on the New
York curb over Sc share, having net
ted the owners a half million dollars
since April 1t is in the Furnace Creek
and Greenwater districts, of which
Gina and Search1ight are the southern
extension, that John w. Gates, Chas.
Schwab, Bob Montgomery, Henry
Clews and other famous financiers are
struggling to see who can acquire the
greatest holdings.
All Eager to Buy
An evidence of the fact that the
Gina -Searchlight copper fields are at
tracing the attention of the greatest
copper miners in the world is indicated
by Sam Newhouse's recent offer Of
100000 to Gus Hamstadt for his Copper
Queen property, and the same owner
has also been approached by the Gug-
genheim syndicate with an offer in six
figures for his great copper mine in
the New York mountains, which is a
part of the same district. Wilson
brothers, the millionaire mining men Of
Salt Lake, have just bought for $75 900
the Johnny group of copper claims, and
have already sunk shaft over 200 feet. |
Adjoining the Copper King of the Quar-
tette company is the Standard No. / |
and Standard No. 2, both of which are
producing copper mines controlled by |
Los Angeles capital. Other copper
mines in the district are the Giant
Ledge and Clark Mountain properties, |
and at Ivanpah, few miles from Gina, |
there are a number of other mines.
1t is certain that the quiet and unos-
tentatious manner in which capitalists
have invaded this region is an indica-
tton of the faith that men of money
have in the Searchlight district, for
there have been no red lights burned
nor pyrotechnics resorted to to boom
the region 1t has been a case of steady
minerlike development work, where ev-
cry dollar spent has strengthened the |
already firm conviction that this is TO |
be one of Nevada's greatest copper pro-
ducing districts.