The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-09-28
IS 0OLDFIELD ON THE DECLINE?

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TINE PEOPLE who fors.s the early dscadsnce of the camp of ooMasd
because Of the lsthargy in mining stocks and the iun in general business
should take a few days on and faminari1s themselves with thu real n
Il is n. that mining stocks are down and .s demand limited; it is true
that a number Of leases havs shut down; ii is also rue that . few small shops
AND saloons have temporarily suspended business But what Of it?
That the stock market is down is rot attributable to the physical condition
d the camp. The camp is In better shape and producing more gold every week
than ver before. The stock market is not governed by the physical condition OF
the mines. md it's mines and not took markets that make a camp.
That a number Of leases have shut down is n o fault of ooldhed; more the
fault Of promoters who contracted the leasing fever some months ago during the
leasing boom, and started work on thu expectation that the public would keep the
Isasssg oms through the purchase of mining stock. But As the money situation
everywhere nshtsned up and tho necessary influx Of money did not matsranzs'
te lenMa Of necessity hadt u closed down. But this is n fault o. the camp.
That : number Of shops and saloons-not many-have been temporarily at
fsctsd, is not to be wondered At. It is only natural The closing Of leases threw
men nj Of work; nj work. N money; n money n trade. A simple question
rhs business places with som backing re wsathsrng the hurry all right, but It
son . b sAins these re the people who m feeling the squeeze;
and they would 60 under anywhere. People who try to DO business o. insuf-
Acisntc capital VIII always be hard hit when business gets thin. This Is . univer-
cal fact rot peculiar to 0oldheld.
Nov in fact there is n community in the country that should be and is as
prosperous As aoldhsd. ooldasld is enceeMnsy prosperous today; there ART
many people ut Of employment. it Is true, but there Is a superiority Of people in
aodned; more people han work, and too many people without money. They
came hre broke with the expectation Of picking gold of the a brush; they are
sn broke; and they stand around the s1eets whining about hard times in
ooldheld'' But there is n ON community in the country that is producing $
much nsw wealth; non q III same szea and II the same age, whereth he bank de-
POSTS are 50 big; none where SO much money is invested in nw improvements;
TO community where there is so much money for speculation
Tho gold output Of the camp today is twice and three times as larse a. it
n".' IA $500 In ts mat.r ~ mining ,tocks vhtcb seems to b the
especial sourceo Of complaint the mining stock market IN the average. is higher
today. than it was lasts summer. a low Al it may seem nov. OF course as com
pared with last winter, stocks ire Of; but those wMc abnormal times, when
prices were inflated to a point wa above their proper level; but the investor
who bought the market this time iat ear and hold on-bousht tn stocks Of
merit Of course-hs holdings would show a handsome profit. So here is really
nothing to complain of On that score.
As figures show the increased value # mining stocks between the given
periods 80 figures show the enormous gain in output of oodhed v the CORE
spending time last year.
The uom production of all the mines and leases of the GoldAeld district up
to Jne /, 1907, IS nea as car be determined from the data available. was $2r
7s2ss2se. This is substantially correct and may be accepted IS authoritative.
as much Of the figuring was done from the books of the various companies con-
Hayes Monnette Mohawk production Of nearly $AO00O00, and the mines now
embraced in the ooldheld Consolidated. s5OooOoo. The period covering this pro-
ducton of only a little less than s1soooooo. was from the beginning of the camp
TO June 1 this year or about three and nehaK years.
Since the first Of June this year The News las collected accurate dta of
the production of the camp, and has published it conspicuously from week 70
week. The data wa not obtained from the mines themselves. but from the books
Of the mills. smeNers and railroads, which reviewed the ore either Tor treatment
or shipment % distant points
i'm this computation was made, was II weeks. During these II weeks there
was practically three weeks O non reproduction in some Of the largest mines owing
to a walk tut Still, the total production of this period II lest than a third Il a
yea wa 67ss.4ss7a The production Tor the past few weeks If uninterrupted
lust now car be said 70 b good for IN average Of at least 100000 weekly which
means an annual production Of about $2oOooOoo; or in other words the produc-
ton fol the year beginning June l, promises even without the addition Of any
nov mines. to be more than double the aggregate output from the beginning Of
the camp II that date.
Does this look IS If the camp were facing a collapse?
And there is another important fact that mwtn not be overlooked; not more
than 1 Per ceut Of the entire dactte ares of the camp has been developed to the
producing stage. Charles J. Moore. the eminent mining engineer enlarses upon
which should be read and reelected upon. and given the widest publicity. MI.
Moore says that the dacts formation. in which the mines Of Goldheld occur
cover N ra Of s75 acreA, of which only 275 acres have been explored wen to
single pen cent Mr. Moore also points out that in the matter Of depth, that the
lowest workings in the camp-.5o feet on the Mohawk-''show n signs Of
dimnution in quantity o. value" but in fact deep workings ar adding TO the
length Of the paying ore bodies. This certainly should be another reasonf for
- S 4ndd furhermore. the matter Of dividends argues the progress made over
this time last year. At that time there vas not a dividend payer in the camp
four properties including the Consolidated, that are in the dividend paying list:
these ire the Frances Mohawk, the Mohawk Jumbo. the LtleForence, and the
ing nearly q half million; tho Little Florence las paid u $4,000; the Mohawk
Jumbo has paid me dividend III pay another he first If the month. and at the
y s ~ nav 4 IN n H. IT, douu y - rssd vth s.s az r sssc ~ ry. .nS %snl ~
hiatt o11AI has vnnRhn6 Ha ganHh and IA nm fha datua a not -~h< 49, xl