davidaulloa/AmericanStories huggingface dataset:
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
BROCK is NOW
ENTIRELY OUT

Word was received in Goldfield yes
terday that at a meeting OF the stock
holders OF the Tonopah Mining COM
pany at Philadelphia. r. II. Austin. of
Philadelphia. one of the largest stock
holders of the concern. was elected
president. vice John w. Brock. Mr..
Brock had been succeeded as president
OF the Tonopah a Goldfield railroad
some days ago by A. C. Lord. formerly
or the Baltimore g. Ohio railroad. Mr..
Lord is also made an officer of the Tono-
pah Mining company.
Thus ends fight against the Brock
regime that began some months ago.
Those who have been reading the week
ly letter from our New York representa-
tive. will recall the predictions made
during the early fall that Brock would
have to leave the presidency Of the two
large concerns. Stockholders could not
understand. with both the mine and the
railroad. the latter of which the mining
company was a large owner, making
such enormous profits. why dividends
should be cut and the stock to decline
in the market. Naturally they laid 1t
to the Brock management. and Brock
had to go.
The change in management of both
mine and railroad will be welcomed by
Nevada people. They never have liked
the Brock policy: and it is expected that
the change will be for the better all
around.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

w. E. Dowlen, vice president and gen.
eral manager Of the Nevada Goldfield
Reduction company. returned from the
east last Monday and plans are being
perfected by which the company will
soon be able to resume the purchase of
ore. The Reduction works ceased re-
ceiving ore two weeks ago when the
smelters announced that they would pay
for consignments only at their convent
ence. The mine owners refused to ship
on those terms and the reduction COM
pany was out in a position to advance
the money on consignments, which
would amount to a vast sum, especially
in view of the existing financial strin-
gency, which was further aggravated
by the closing of the local banks.
I'VE have about $750,O00 due us for
ore which we bought and paid for" said
Mr.. Dowlen. Our mill. which has a
capacity of 10 tons daily. is working
constantly in ore and We have 5000 tons
on hand, which we are converting into
bullion About rs per cent of the ex-
traction comes out in the shape Of
bullion and we are making shipments to
the San Francisco mint twice a week. In
return for this bullion We receive gold
coin, and that is what Goldfeld needs
at the present time. We are .,a..-.e
a plan to be presented to the producers
of ore, and in a short time expect to be
again purchasing ore.
The American Smelling and Refining
company. which buys the bulk of the
ore produced is perfectly solvent but Is
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

Mr.. vickers. who II a member OF the
firm OF Robinson A. vickers. the promo
ters and managers OF the famous Little
Florence. is enthusiastic over his latest
purchase.
Il have just completed a thorough ex-
animation OF the ground. he said. and
think SO well OF 1t that ! have closed
this deal ON my own account. In all my
mining experience have never seen but
one mining property that equalled the
stimler-Jaegels group, for surface
showing. and that was In Mexico The
Nevada Hills, which is probably the
greatest silver-goid mine in America,
does not compare with II for surface
showing. Unless nature has lied, we
have great mine. The surface show
ing is simply wonderful and the deeper
we go the better It looks. The Nevada
Consolidated Mining company has a
shaft down so feet and has five feet OF
ore that breaks $3.50 ton. The lodges
are wide and strongly marked on the
surface and believe we have the maxi
ing of one OF the bonanza mines OF the
world"
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
DAISY OPENS UP
MORE HIGH GRADE

The Daisy mine at Diamondheld mas
opened up another streak of rich ore on
the 210-foot level, the assays running
as high as $2,064 a ton. The rich ore
was opened in stope close to the OLD
company shaft and the ore is being
sacked for shipment. The company mas
now started stopping at three dinerent
points on this level and the ore is all
of high grade. In the meantime the
Truett shaft, which is now the nam
working shaft is being sunk rapidly TO-
ward the 400-foot level. which point II
will reach in about ten days. A statlon
will be cut at the 400-foot level and
crosscut driven to undercut the main
vein system that runs through tne
Daisy ground At the same time the
shaft will be sunk an additional loo
feet. The sinking of this shaft is at
tended with some difficulty as the
ground is very hard. but it is good hold
ing ground and the extra expense In
sinking will be more than made up IN
the saving in repairs which would oe
necessary if the shaft were IN 'softer
ground.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
BANK SITUATION HOPEFUL

The financial clouds that have been
hoyering over Goldfield for several
weeks past appear to be clearing away
and from present indications both the
State Bank and Trust company and the
Nye and Ormsby banks will reopen Tor
business within the next week. The Of
ficials of both institutions are actively
engaged in making the necessary ar
rangements for resumption with every
prospect of success. The depositors are
asked to sign agreements to allow the
hank to pay certain percentage OF
their claims at stated intervals. extend
ing over a year as an absolute essential
to reopening. 1t is generally recognized
that with the present scarcity Of avail
able coin throughout the country, such
a course is absolutely necessary as the
coin cannot be had, no matter how good
the security The heavier depositors
are agreed, practically to man, that
this is a wise policy and at meeting OF
fhe deposftors of the State Bank, held
in this city last Tuesday afternoon, a
large majority agreed to accept the
proposition made by President Thomas
r. Hickey of the bank. and 200 sigma
lures were affixed to the agreement be-
fore nightfall.
Certain of the depositors. however
declined to sign until a statement OF the
banks condition had been published. a
committee was appointed to confer with
the bank officials on the subject. Presi-
dent Hickey arrived in Goldfield yester-
day and at meeting of the depositors
i'm the rooms of the Consolidated StocR
Exchange. explained in detail his pian
and succeeded in quieting any fears the
depositors may have had. regarding the
banks ability or intention to pay dollar
for dollar, at the earliest possible mo-
ment. The agreement submitted TO the
depositors, and which is now being gen
orally signed. Is as follows:
This agreement. made and entered
into this ---- day OF November. 1907
by and between the depositors and cred
itors of the State Bank and Trust com
pany. and by and between each other
and by and between one and each otner
and with the State Bank & Trust Co.
witnessth:
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
AFTER THE LEASING RECORD
Florence Annex Negbor of the Little Florence Gives Promise
of Outstrpping the Greatest OF Godeds Famous Leases


when body encountered a trend
of about 10 degrees of north The will
nued to cut the Little Florence ven which Manager Jones
expects in about 10 1eet !.
1t is the opinion of engineers min men, familiar
With the vein system in this section whom Tom
Florence
the Florence Annex, continuation of the Jumbo
Crosscuts being driven the 400 50Ooot
which expected to cut this body and it
lieved that the will stronger
depth 40o-foot
feet and judging from the dip of the
level should be encountered about 40 feet
500 foot level. the crosscut is in about as feet
The Florence Annex company organized about
months take the old Truett
closely held and there is
E. Hall of Godfeld is president Senator Dix W.
Elmira N. Y. vice president Charles
field and general
time the Florence Annex
500 but practically
Senator Smith has been receipt of
gratulaory kilograms from friends during
last few days Asked what he thought of the strike he
said We'll, Tom Lockhart will take
but well IT looks though might good" and
the handsome smiled knowingly.
said Mr. Jones "and it holds will
Of the Hayes Monnee and Little Florence the
shade"
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

1t is mutually covenanted and agreed
by the parties aforesaid. as follows:
That whereas, The State Bank and
Trust company. a corporation duly or
ganized and existing under and by virtue
Of the laws of the state of Nevada, has
been forced to close it's doors and sus-
pend to its depositors and creditors. and
Whereas, We and each of us firmly
believe that it would tend greatly to our
interests and to the interests of said
bank, and to the interest of the general
public to save said bank from being
thrown into a receivership. and that the
throwing of said bank and all Of its
properties and property rights into re-
ceivership would be very injurious to
the creditors and depositors of said
bank. and having full faith and conf
dence that 1t would be greatly to the in
terest Of all parties concerned. and to
the undersigned. to extend further
credit. and further time to said bank
within which to collect its assets, be 1t
Resolved, That we agree one with
the other and with the State Bank and
Trust company. for mutual considera-
tion, as follows:
I0at We Will not tdli upOii tHc
State Bank and Trust company nor
upon any of its agencies. within three
months from the date hereof, for the
payment of any part of our deposits or
credits. hereby agreeing that any sale.
transfer or assignment of our said de-
posits or credits shall be made subject
to the terms of this agreement.
2. The State Bank & Trust company.
on it's part. and under and by virtue OF
a resolution of it's board Of directors.
authorizing and empowering its presi-
dent or secretary so to do. agrees with
the undersigned. it's depositors and
creditors. to pay. upon call. within three
months from the date thereof 10 per
cent of their several amounts due, and
within six months from said date to pay
20 per cent of their several amounts
due, and within nine months from said
date to pay 20 per cent Of their several
amounts due. and within twelve months
from said date to pay all balance due
said depositors and creditors, as the
same may be called for
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

lease the north end of the Fire
with feet of that breaks
is the latest aspran for championship hono's
of high grade in the Godeld
district all the shipped since the strike
was than $500 ton and If
the out and there is every indication that
it will, Annex will smash all records for
the during the five months the life
samples of the which struck
during the from $4,000 to 100000
ton sme of the Little Florence ore, with wide
bands of pure gold through it. In instances
gold half inch wide of solid metal
ellurum form and the values are IN
work opening the ore body
The carrying the high grade was first struck on
October H. shaft the crosscut
driving through the vein at this point
strnyer of $500 ton cut. beyond
which was Charles A. jones' manager Of the
drift the vein and this work was
when the phenomenal values were Ell
tho vein for about 80
and the is being stopped out
near the crosscut shipment of about
20 tons from $500 to $i1O0 ton was
north drift the face Is specked
with gold taken Wednesday afternoon as
saved but this sample did nc" include the nigh
grade Samples from the face of the drift
Thursday ran $4,000
Florence ven which the rosscus was being
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
VICKERS BUYS INTO STIMLER

The price paid by George vickers for
controlling interest In the two Stimler-
Jaegels groups of fourteen claims in
the new Stimler district was Se2, SOC.
The final papers were signed last Tues
day and preparations will begin at once
for the development of the property by
the new owners. among whom Is H. C.
Stimler. who retains substantial In
terest in the promising group. There
are about thirty leasers now working on
the claims and nearly everyone of them
Is in ore. although very few have
reached depth of 20 feet. There are
three claims in one group and eleven in
the other.
The Cottonwood Canyon Mines COM
pany has been Incorporated for the pur-
pose Of taking over and developing the
larger group of IL claims. II is capital
ized for 1.25O.0 shares at 81 each. The
Nevada Cottonwood Mines company has
been Incorporated to take over the group
of three claims. with capitalization of
100000 shares at 81 each. Each COM
pany has 100000 shares df treasury
stock.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
MOHAWK REVEALS GREATEST
RICHES AT LOWEST DEPTH

That the ore goes down" in the
doubted
to sink
OF
up
to connect with an upra that viii be
rapidly
be cutting Of
the
Of
famou
Of
intention of the
the
. . Z . . . . . . . . Q . Q . . . q . . q . . . q q
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

The ST. Ives Leasing company con-
tinues to take out ore from their 100
foot level and are stacking the same on
their dumps. Two shifts are working
on the shaft and II is going down at the
rate of about three feet per day. Man.
ager Codd is very enthusiastic over the
showing that Is being made and fully
believes that within short time he will
run into the ore shoot on the lower
levels. A. crosscut IL also being run east
on the 100-foot level to strike the ore
shoot recently encountered on the st.
Ives. 1t is believed that a large body OF
high grade ore can be reached within a
short time.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
FIGURING ON A MILL FOR
THE GOLDFIELD GOLD BAR

The Gold Bar Mining company is
about to make a shipment of copper-gold
ore to Denver for experimental treat
ment. 1t is understood that the COM
pany is planning the erection of a mill
for the treatment of it's own ores but
General Manager Louis X. Koontz de-
clined to discuss the subject at this
time. 1t is known that the Gold Bar has
a large body of ore uncovered that will
run high in both gold and copper. some
Of the samples averaging as high as $50
a ton in the red metal alone. with good
values in gold. In the shipment that is
now being prepared. no attempt is being
made to secure high assays. but on the
contrary the ore will be mixed In order
to keep down the values, the idea being
not to insure big returns on the ship
ments, but to determine the best method
for treating the product Of the mine.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
SHIPPING 200
TONS PER DAY

The Mohawk-Combination with about
three weeks to run. is straining every
nerve to extract every pound of ore pos
sible during that period. The output is
now 800 tons day, arrangements hav-
ing been made with the Western ,.e
Purchasing company to handle the prod
uct and pay a sufficient amount down
to meet the expenses of production.
Final settlement will be deferred until
returns can be received from the smell
ters. About 200 tons day Is being
taken from the Mohawk-Combinaticn
ground and the additional 100 tons
comes from the Begole lease. in which
the Mohawk Combination owns half
interest The ore averages $40 ton.
without sorting and the daily output is
therefore about $1,000 in value.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
LITTLE FLORENCE PILING
UP A MOUNTAIN OF GOLD

grade
hppn the
the
in a ew days
front the to the
Of fu
900 being
greater portion OF the ore that being
richer se Soooot level which
e to "so"s
In
force.w hofco
by the
dividends
Of
largest dividend a mil
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

3. 1t is further mutually understood
and agreed that the parties hereto shall
not be bound by any of these presents in
the event that said the State Bank and
Trust company shall be thrown into
bankruptcy. or in the event that a re-
ceiver shall be appointed to take and
hold any of the properties. but that
these presents shall be binding only in
the event that said the State Bank and
Trust company shall continue its busi-
ness. and In the ordinary course of it's
business.
4. 1t is further mutually understood
and agreed that these presents apply to
the State Bank and Trust company and
all Its branches. and to the undersigned.
and all heirs. successors in interest, ex-
ecutors. administrators and assigns of
the parties hereto.
In witness whereof, the State Bank
and Trust company has caused its name
to be signed and corporate seal to be af-
fixed by it's president and secretary
thereunto duly authorized. and the cred
itors and depositors of said the State
Bank ard Trust company have also set
their hands and seals this....--........day of
November. 1907.
THE STATE bANh AMI W.,
BY r. B. RICKEY. President.
Attest: JAS. T. DAVIS. Secretary.
While the agreement gives the bank
year in which to pay OFF all the claims
OF the depositors. II is more than likely
that with a return of better conditions.
the bank will be able to pay all claims
in few months. The longer time is
specified merely as precautionary
measure and is to prevent the needless
sacrifice of securities. which would be
ruinous alike to the bank and the de-
positors. Mr.. Hickey says there Is no
question of the banks ability to pay all
claims and have a handsome surplus re-
naming. The agreement must be signed
by ninety per cent Of the depositors be-
fore the bank reopens it's doors and IT
is expected that this even will take
place within the coming week.
A similar agreement will also be sub
mitted to the depositors Of the Nye and
4 nxx Dc
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
ENEpGETIC DEVELOPMENT
ON MACKENZIE PROPERTIES

that appears to lie in the center or an
enormous dyke. A crosscut to the foot
wall has disclosed two-foot streak OF
heavy sulphide ore which carries but
nominal values. although heavily min
eralized. In addition to this crosscut
drift has been started to the west and
appearances indicate that good pody
of ore will soon be encountered.
In the Jupiter mine. development
work is being confined to the lower
levels, where the crosscut is in an ex-
ceIlent character of oxidised ore. that
shows increasing values as the work
progresses. While the force has been
reduced at the Jupiter. sufncient num-
ber of men are employed to carry for-
ward the work in a conservative man
ner. consistent with good mining ano
the present financial conditions.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
EycouxA0IN0 ASSAYS FROM
xED GoUNTA1M P80111xx

The Diamondfield Red Mountain com
pany is sinking it's shaft at the rate OF
three feet per day. The smart Is no"
down 101 feet and the change OF 1orma'
tion has come in at this point ana II i
believed that shipping ore viii De en-
countered within a short time. Assays
running from IS to $3.50 were had las'
week and Manager Codd stated TO-DAY
that he believed that they had mine
there beyond any question of doubt
Great activity is going on IN TINS SEE
tion of the district. A numDer VI oo"''
panies are now doing their annuai as
sessment work and it Is more .hai
likely that some good showings VIII oe
made before the first of the year.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

Work On all the Mackenzie properties
,s be,np pushed forward with as mucn
anar.v as ever. notwithstanding the
funds Of all the various companies con-
.sa,,s, and managed by him. with the
sroa,,,or NJ the Frances Mohawk and
smsiI nercentage of the Jupiter funds
~ -, nv the closing of the banks.
In The Combination Extension mine
-a,.e from the 400-foot level is
80 rsnid,v advanced and the face is
shnv,nr the best looking and character
Of ore yet encountered. The manage
ment is greatly ENCOURAGED and y con-
ndent that the mine VIII De sn'pp'ns
ore at an early date
In the Frances Mohawk mine there Is
corr,ete change in the formation
The south drift on the sso-foot level Is
now in a true. coarse grained quarts
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

The Pollard Florence Lease is sinking
for the 450-foot levels as fast as the
work can be done with two shifts work.
ing. An average OF about fivs feet =
day IL being made and the 450-foot pcint
should be reached by the first OF the
month. Then they will start to cross
cut for the big Florence vein that was
cut on the 35o-soet .evel with. . spiendid
chance OF gettinG -inta good body Of
shipping ore. The location OF the Pol
lard lease would seem to guarantee final
success and the energy and resource
fullness Of the management is the sun
ject of much favorable comment 1t
would be no surprise to the initiated II
the Pollard should prove one Of the big
producers In the near future.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09

The Nevada Gold Ore Mines company,
which is operating lease on the Gold
Bar is running a drift on the 400-foot
level on the big body of low grade ore
that was first opened up on the l5o-foot
level.
General Manager Koontx has granted
an extension of SO days to all the leas-
ers on the Gold Bar and c. o. ID. prop
critics. owing to the present financial
stringency. that has seriously interfered
with the development work.
LUu1u0 COED MINIS 0xBDICAxB
The Luning Gold Mines Syndicate IL
taking out ore for shipment and 1t Is
expected that the first lot will be ready
to be sent out within week or ten
days. The property is showing up we'll
and development work is being pushed
forward with energy.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
WILL BEGIN wo1x on
OLD JANUARY Jo1BS LEASE

The Florence Consolidated Mining and
Leasing company, which has taken a
lease on the block of ground formerly
worked by January Jones on the Corn
ishman claim OF the Florence Goldfeld
Mining company. is installing a hoist
and will begin active development work
the first of the coming week. The shaft
Is down 300 feet and Jones took out
some good ore from the rs and ia
levels. The shaft VIII be sunk TO the
400-foot level at once and crosscut
driven on that level to tap the vein at
depth. The lease Is well located, being
surrounded by Baby Florence, the Flor
ence Leasing and Mining, the combina-
tion Fraction lease and the Nevadan
Mining company's lease, on the east.
south and west. and by the famous
Jumbo property on the north.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
DAISY Z. q II. TIED Or
BY ZIG FLOW OF WATER

The Daisy Leasing and Mining COM
pany is awaiting the arrival of pumps
that have been ordered for the purpose
of handling the flow of water that has
come into the lower workings The prop
erty is looking well and preparations are
being made to sink the shaft another
100 feet, on which level a crosscut will
be driven to tap the vein of high grade
ore that was opened up on the 250-foot
level a few weeks ago.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
LEASE on PLAZA FRACTION
HEARING ZIG LEDGE

The GoldfeId Mines and Leasing COM
pany is pushing ahead the crosscut on
the s50-foot level of it's Plaza Fraction
lease. The crosscut is now in more
than 900 feet and should tap the big
Lord ledge, toward which it is aiming,
before the end Of the present week
Drifting on the 2OO-foot level is also
making good progress and the manage
ment is very we'll satisfied with the
work being done.
The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-09
FLORENCE I. ~. DOING
MUCH DEvEL0P1kENT WORK

The Florence Leasing anu aiming
company is pushing forward the drift
on the 5O0-foot level and expects to get
the vein that was cut on the upper
levels in about Is feet more of work. As
soon as the vein is picked up. sinking
will be resumed and the shaft sunk to
the 6O0-foot level. Stopping from the
2s5-foot level on the ore body continues
and the values continue fair. The ton
mage during the last week has been re-
stricted by the fact tEat the company
is concentrating its EFFORTS Tor tne time
being in pushing forward the drift on
the lower level.