The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-01-26
tFrom our own Representative.

ffrOm our own REPRESENTATIVE
Rhyolite, New. Jan. 24.-It has been
definitely settled that Rhyolite Is to
have a mining stock exchange. The
matter was taken up at a recent meeting
of the board of trade and the movement
was very favorably received Commit
tees were appointed to report and the re-
suit was that the enterprise met with a
very great encouragement Seventy-lve
charter at 800 per seat have
signed the article and applications for
membership have been received from
New York, Denver. San Francisco and
Goldheld. The next vacant seats will
be sold at 5000 each. The governing
board has elected the following officers
and executive COMMITTEES: Capt. G.. w.
Thatcher. president: j.. L. Cadogan. vice
president, Geo. X. Vaughn. secretary;
Geo. b. keenan,, treasurer; executive
committee. Captain G. w. Thatcher, o.
o. Kincaid. b. F. Taylor.
The bylaws and constitution have
been perfected and adopted and the body
will be incorporated within the next
few days.
The West Extension is now uncover
ing some of the richest ore ever en-
countered in the Bullfrog district. In
the west drift from the old developing
shaft at a point ESQ feet in, material
which runs $4,000 to the ton is being
taken out. The entire face of the drift
is in high grade ore, which will aver
age several hundred dollars to the ton.
The returns are in gold. silver and cop
per. The same stuff also appears in the
bottom of the shaft now being sunk on
the hillside west and also in the tunnel
being run on the Ethel claim, thus prov
ing a continuous ore body of the same
rich character for over 1000 feet. This
ore is being sacked for shipment.
The Bullfrog Teddy Gold Mining COM
pany has just been organized to operate
in the state which adjoins the West Ex-
tension on the west. The ground con-
tains the same lead as those found in
the West Extension and practically the
same mineral conditions exist. The
management estimates that with 100
feet of development work practically the
same ore bodies can be uncovered. 1t is
the purpose to start extensive develop
ment within the next few days. and
place the property on a shipping basis
in a short time.
The Rhyolite Mining & Brokerage
company has just received
ment of settlement from a Salt Lake
sampling firm for a twenty-ton con-
signment of skookum which was recent
ly forwarded. The returns show that
the ore ran $165.S3 to the ton in gold.
silver and copper. This the management
states is a fair average for the shipping
material now coming from the mines.
Another shipment is being sacked and
will be sent out in a few days. The
company Is pushing development work
and opening up its ore bodies as rapidly
ls possible.
Various other mining companies in
the Bullfrog district are preparing to
ship. The Gold Bar has already pre-
pared an ore assembly which has been
ready to take out for some time but ow-
ing to the recent storm, which has rem
dered the. roads impossible. has de-
layed shipment. The Tramp CONSOLE
dated has about two and a half car
loads of high grade ore ready to move
and it will be sent out as soon as the
roads get in better condition. The
Montgomery Shoshone, the property of
Chas. NJ. Schwab. is also making weekly
shipments. This property is nearer the
railroad and the storm has not inter-
w Ill a. vs. ttfS
ore to the siding.
Philadelphia capitalists have secured
an option on some of the larger holdings
of the stockholders in the Montgomery
Shoshone Extension. 1t is stated to be
the intention of these people to take over
the property for eastern capitalists. The
property Immediately adjoins the Mont
gomery Shoshone and is considered as
exceptionally good inside ground. A Is
horse power hoist has just been in
stalled and will be set permanently to
work in a few days. 1t is the purpose
of the management to sink as rapidly as
possible to the 400-foot level and open
up the ore bodies at once.
The Montana Bullfrog company ex-
poets its hosting plant within the next
few days.. The shaft is now down 20
feet and good progress is being made.
Excavation work for the new machinery
is now going on. The ground of this
contains the leads of the Ma
tional Bank and Bullfrog.
The Lige Harris has encountered a
35-foot body of ore in the crosscut from
the 50-foot level. The ore is ~phonolitic
quartz with fluorine stains and carries
values ranging from two to forty dollars
a ton. The company has an option on
some valuable property in the Cotton
wood belt of Inyo county. California.
Assays from this, it is stated. run as
high as $13S to the ton.
John Il. Overbury, James Lester. II.
G.. Mcmahon and N. P. Sloan & Co..
nave purchased the old G%unsight mine
which is a part of the Tocopa roperty