The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-10-20


w. II. T., Baltimore. Md.-we seem to
have nothing on hand in regard TO the
Montezuma Goldfeld Mining company;
will make further inquiries.
H.. c. r., Denver, Colo.-The Nevada
Leasing company owns a lease upo the
Florence mine on which a large amount
of work has been done. This lease is
getting into splendid ore and has the
prospect of becoming one of the best
producers of Goldfeld. 1t joins the
famous Reilly lease, which up until the
Mohawk discovery. had the record of
producing the most money in the same
length of time for the whole camp of
Goldheld.
Z. w, Breckenridge, Mich.-You ask
what is the difference between a pros
pect and a mine and at what stage does
a developing property advance from the
stage of a prospect to that of a mine.
Various answers could be given to this
question. according to the standard
adopted. The mining promoter has one
standard, the mining engineer another.
Mark Twain said that a mine was a hole
in the ground owned by a liar; he said
he knew because he owned a mine. The
mining DfuI1OttT. ~ ~ pun BoSC u vi
ing stock, might dub a claim with a
prospect hole, a mine. but the mining
engineer would perhaps define a mine as
follows: A valid location upon ledge or
vein with a shaft 100 feet deep, in ore.
with drifts of 100 feet each. from the
bottom of the shaft. also in ore, and
with crosscuts of 100 feet from the bot
tom of the shaft. OF the rock extracted
in the course of sinking and drifting.
one-tenth to be ore. As a rule mines
must show ore in the workings, and
have a record of production. This is the
standard generally adopted by men who
difrerentiate between the words, pros
pect" and mine
=. B., New York.-You ask what are
the requirements to be filled by a com
pany before it's stock is listed on the
Goldheld Mining Stock exchange: The
Goldfeld Mining Stock exchange has
what is called a listing committee which
examines carefully into the organization
of the company. the physical conditions
of it's property, and its legal status. In
the list of questions to be answered and
submitted to writing and sworn to by
the applicants, thy must give the name
of the company date of organization;
officers, directors and the capitalization;
the full number of shares and par value;
the number of shares of treasury stock
and how much sold; the amount of cash
and stock in the treasury; whether the
funds of the company are deposited in
the company's name; the name of the
bank; amount of Indebtedness, if any,
whether the stock is assessable; the
number of claims owned by the company,
acreage, and in what district; whether
the claims are patented or surveyed for
patent; whether there is any bond on
the claims; if so. the amount and when
due; whether there are any conflicts or
any litigation pending. the development
work on the property in shaft, tunnels,
wines. raises and crosscuts; number of
men being employed at time of applica-
ton; distance from railroad; machines
and equipments; character and kind of
ore; m amour in sight; whether
shipments have been made, and IL so,
when, where and to what amount the
returns. All these questions must be
answered satisfactorily before the APP
plication is passed. The statement is
sworn to before a notary public.
J. E. s., Manhattan, Nev.-We are dill
gent in our attempt to find the exact
stauts of the old Bulls and Bears Mining
company of Goldfeld. We find that the
entire acreage of the Bulls and Bears
Mining company was sold outright to
the Norcross Investment company of
Butte, Mont, and cash paid, and that
the W companies have no connection
whatever. The five southwestern claims
of the group were Incorporated as the
Norcross Mining company the other five
claims are as yet unorganized, but will
be incorporated in a short time under
the name of the Potter Mining
AS far as we can find out there rave been
no dividends paid from the sale of the
Bulls and Bears treasury, and we pre-
sumo the amount received is intact
John Herbert Nee of Fillmore street.
San Francisco, is the attorney for the
Bulls and Bears company and is at
tending to it's affairs. We are unable to
state exactly what disposition will be
made of the money received from the
sale of the property, but understand
that it will be distributed in the shape
of a dividend as soon as the business of
the old company is settled. We are now
in correspondence with Mr.. Nee with
the expectation of getting a full state
ment of the status of affairs.
w. 3. E., Butte, Montana.-The Dixie
company owns so acres in the southeast
part of the Goldfeld district. about three
miles from Goldfeld. There is a shaft
as feet deep on the property with
drifts and crosscuts in all directions
from every level from the 50-foot point
down on a wide dyke of low grade ore.
Within the past few days the company
has resumed work on it's property as a
result of a thorough expert examination,
and the management seems to be san
guine that it Will soon open up pay ore.
A. B., Hagerstown, Md.-The Dixie
company owns so acres three miles
southeast of Goldfeld. A shaft is down
375 feet, drifts and crosscuts are run
in all directions from every level from
so feet to the bottom on a wide dyke
of low grade ore, too low to pay to work
under present conditions. The mine is
now being examined by experts to lay
out plans for future work and it is un-
derstood that the work will be started
shortly. More extended references to
the Dixie company will be found in an
other column.