Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-08-17
WILL WORK MINES
OF The UBEHEBE
From the Tonopah Daily Bonanza.


= and wrested wealth from the 4
= struggle, is back to the scenes 4
" = of his fortune-fest. %Salsberry 4
G y was one of the early corners into 4
d y Tonopah, and shrewd as to bust 4
. ness chances and alert to OPP 4
y p%ortunity, he was one of the 4
= money makers from the start. I
He saw the needs of the grow 4
= ing camp, and was quick to pro- 4
. vide them, and at the same Z
. time he kept his eye open to q
y the new discoveries. 1t is es- =
= timated that at the present =
= time Mr.. Salsberry can write .
= his check for a million. .
.
The latest deal that he has put
through is the formation of a syndi-
cate to work the mines of the Upe-
hebe district. He was one of the
first to get into the district, and has
incorporated fifty claims into the
Ubehebe Copper Mines and Shelter
Company. He has had the property
thoroughly p~rospected, and has had
considerable development work done.
Experts have examined the formation
and made a close study of the ground
and pronounce the Ubehebe one of
the most promising copper districts
in the world.
Fortified with this knowledge, Mr..
S~alsberry incorporated a company
with a capitalization of three million
shares, of which 600, 600 shares were
put into the treasury. Then he went
East to form a syndicate to work the
property on a splendid scale. He
succeeded in interesting a number of
capitalists in Pittsburg, Philadelphia,
Baltimore, Detroit and Cleveland,
and invited them and their engineers
to accompany him to the district.
They came out here in a special car
as the guests of Mr.. S~alsberry a little
over a month ago, and We're taken
from here to the mines in automo-
biles.
The capitalists and their experts
We're much enthused over what they
saw, and the deal which had been
presented by Mr.. Salsberry was clos
ed, virtually, before they left the
country. They wanted a million
shares of the stock at twenty-five
cents a share, but the promoter of
this gigantic scheme desired to hold
100 1000 shares out for those of his
Tonopah friends who wanted to get
In at the same price. Should the
opportunity be not embraced, the
hundred thousand additional shares
go to the syndicate.
There is a railroad to be built from
ubehebe to Thorp's to connect with
the Brock road, and there is to be a
smelter. Bonds are to be issued by
the company for the building of the
road, and Pittsburg steel men want
to put up a smelter for the
and take stock in payment. Mr..
Salsberry is accompanied by Frank
Peard, a banker of Baltimore, who Is
going to look over the situation with
a view to taking up the bonds for
the railroad. Mr.. Peard was here
yesterday for the first time, and is in
love with Tonopah. He was sur
prised at the solidity of the build
ings, the appearance of the mines,
and the evident permanency of the
camp. He and Mr.. S~alsberry left
last evening for Ubehebe in an auto
mobile.
While | am down at Ubehebe this
trip said Mr.. Salsberry, just before
leaving, Il am going to pick out a
permanent tunnel site and get the
men right to work. / have engaged
a competent engineer, named Owen
Hitchins, who has had a large ex-
perience in copper in Montana and
the northwest. | have ordered a
nfne-drill compressor, which is al
ready on the way. 1t is my intention
to investigate the power plant, whose
lines cross our wagon road, to as
certain if they can furnish power as
cheaply as we can provide steam for
u locomotives. IT this can be done
we will use electric motors on the
road instead of steam.
Surveys are to be run immediate
ly to determine the most feasible
route for the railroad, and Mr.. Peard
accompanies to look over the s%itua-l
ton with a view of taking III the
bonds to be issued for the constitute
ton of the road. We have P%ittsburg
steel men, who have promised to put
up a smelter and to take payment in
the stock of the company. This mat
ter is now under consideration.
I'VE have other properties besides
those mentioned. We have a fine
townsite and in the middle of it we