Los Angeles herald., 1907-09-02
NEVADA HILLS
PROVES RICH
LONGER RUN GRANTED TO THE
JUMBO EXTENSION
coNkLIN LEASE IS NEW SHIPPER
FROM FLORENCE
codfieId Consolidated Mines Company
Will Declare Dividend of Not
Less Than 20 Cents Upon
Issued Stock
snacial to rhs Herald.

Special to The Herald
GOLDFIELD, New, Sept l-Walter
Whitmore, who is interested in the Ne
vada Hills Leasing company, received
word from the superintendent yesterday
that in the west drifts on the 150-foot
level they are breaking ore that contains
1906 ounces gold and 2113 ounces silver,
which is as rich as any ore ever taken
out by the Nevada Hills company. The
crosscut on the 2OO-foot level is now in
the ledge, and the superintendent says
that the lease never looked so good The
daily output is never less than $4,000 a
day and has run as high as $4,000. The
output is being rapidly increased and dur
ing the life of the lease, which expires
at midnight of the last day of September,
a handsome fortune will be taken out.
Mr.. Whitmore, who was one OF the
original locators of the Nevada Wonder
mine at wonder returned Monday from
that camp and Fairview, where he stopped
en- route home from Tahoe. Mr..
Whitmore still owns his block of stock
In the Wonder mine and has other in
terests there In the Hidden Treasure
the hanging wall of the Badger vein of
the Nevada Wonder was cut in the shaft
at depth of 95 feet and at 125 feet
a blind ledge was encountered which
breaks 800 a ton for six feet. Ship
and the shaft will be continued to the
250-foot level.
In the Nevada Wonder periodical ship
ments of high grade are made as the
ore accumulates from development work,
no stopping having been done. The shaft
is down 800 feet and sinking will con-
tinue to the 500.
At the Vulture ore was struck re-
Gently in sinking a shaft to connect
A1 1Axro
which sacks 500 a ton without sorting.
On the completion of the raise the COM
pany will commence regular shipments
Mr.. Whitmore says that all the proper
ties which he was able to visit are giving
good account of themselves. In the
town the inertia of the summer months
has passed by and building has been re-
sumed. He expects to return to camp in
ten days.
News from Other Leases
The Jumbo Extension Leasing and Min
ing company has secured further ex-
tension of its lease until July 1, 1908.
The shaft has reached the 300-foot level.
where a station has been cut and a
crosscut started to tap the vein at that
depth. Assays taken from the 295-foot
point in the shaft to the bottom of the
sump, 315 feet, run from IS to $3.50 a
ton, which is regarded by the manage
ment as very good indication.
The Mohawk Florence lease of the
c o D is down 165 feet and they are
still sinking. The same company's lease
on the Poleverde claim of the Jumbo
Extension is down 300 feet and about
400 feet of prosecuting has been done.
The Florence Mohawk Is also negotiating
for lease on the Laguna. The Florence
lease has been pretty thoroughly worked
and nearly all the rich ore has been ex-
tracted
The Mohawk Gold Bar lease on the
February claim of the Goldfield Mines
company is down 800 feet and 125 feet
of crosscutting has been done. The lease
on the Gold Bar property is down 225
feet and crosscut will be driven at the
$50 point. The company's lease on the
Spearhead is down 175 feet and the shaft
will be sunk to the 250-foot level before
any prosecuting Is done.
The Conklin, or Syndicate lease is the
largest regular shipper from the Florence
in the Goldfield country. The first con-
signment is said to have averaged $500
a ton. A winze and an upraise from the
S90-foot level are in average 800 rock,
according to the latest reports. and the
main shaft is dropping for a depth of
43O feet.
Dividend VIII Be Declared
Early in the present month the Gold
field Consolidated Mines company will de-
clare a dividend of not less than 20
cents upon the issued stock, amounting
approximately to 100000 shares. When
Barney Baruch has exercised his option
the number of shares outstanding will
be about 2,S54S66. In the treasury now
there is about s2,250,0OO and this cash re-
serve will swell to at least 100000 by
September, with three times as much
more in immediate sight. Though the
81, ,0o0, 900 note held by Baruch is not due
until next February, it is practically cer-
tain that it will be discounted by the Con-
solidated in the near future, he being
willing to take stock at $Z75 in lieu Of
the cash.
The Mohawk Combination lease on
Consolidated is shipping 160 tons of high
grade daily and is paying every two
weeks $4,000 dividend. this distribution
being at the present rate of $1,300OO0 per
annum and to be largely increased before
the expiration Of its rights.