The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-05-25
BRAGDON ON
LOCAL STOCK
CONDITIONS
Prominent Mining Man Talks Of
Money and Market...Says
Ramsey IS Another
COmstOCk

turned to GoIdfield last Wednesday af-
ter an absence of two months. spent in
San Francisco. Los Angeles and other
points in California. On their way back
to Goldfeld they stopped a few days in
Reno and took run down to Ramsey
to inspect the Ramsey-Comstock mine,
in which Mr.. Bragdon is largely inter-
ested.
I'VE are glad to get back to Goldfield,"
said Mr.. gdon yesterday, "and / want
to tell you that conditions in Goldfield
are more satisfactory at this time than
they are anywhere else in the country.
The inactivity in the stock market
merely emphasizes the fact that there
is no demand for stocks. When people
are ready to buy again stocks will go
up and not before. Nevada and Gold
field in particular are well thought of
everywhere and soon as conditions
adjust themselves the effect will be felt
here at once.
The fact is that the financial strin-
gency throughout the country is the re-
suit of concerted action on the part of
the big financial kings. both in the east
and the west, to bring about a better
condition of affairs. The prices of
building materials, particularly in San
Francisco, have been altogether too
high for safety and the whole country
seems to have been discounting it's
prosperity. Wages are abpormally high
and the cost of living so great that it
was absolutely necessary to call a halt
as to continue along these lines meant
to invite a panic that would have
caused immeasurable distress every
where. Consequently, the bankers be-
gan calling in their loans and in San
Francisco the banks are not loaning a
dollar for building purposes. The BEN
eficial results of this policy are already
apparent in the decrease in the prices
of all building materials. Lumber has
dropped from $32 to $21 a thousand
feet and the price of cement has de-
creased in the same ratio while other
materials are much cheaper. Wages
are also returning to more normal fig
ures and in a short time it is probable
that money for Industrial enterprises
will again be available.
There is plenty of money in the
country to buy anything but the finan-
cers and capitalists are keeping it for
the present Stock brokers cannot
make prices unless there is a demand
for stock. There is no demand for
stock at the present time. There is no
demand for anything. These condi-
conditions, however, will not last for
any great length of time and am con-
fident that there will be healthy up
ward movement ins a short time with
the probabilities. of d big boom In Gold
field securities .in< the early -falh When.
business returns to normal conditions
everything will be all right. The whole
state of Nevada looks better. than ever
before. We have nothing to worry
about in Goldfield Labor conditions are
better here than anywhere else in the
country except in the far eastern cities
where conditions have adjusted them
selves in satisfactory manner
Mr.. Bragdon says the Ramsey Com
stock is in splendid condition The
shaft is down 265 feet and drift is
being run on the vein which is SO feet
wide 1t is now in 35 feet and some
fine looking ore is being taken out.
1T is perfect vein," said Mr.. Brag
don. Il never saw anything like it any,
where. There are two great parallel
dykes and you can walk on them for
distance of nearly two miles. Ramsey
is only fourteen miles east of Virginia
City and the wonder to me is that the
old Comstock prospectors never discov-
cred these immense ore bodies, especial
ly when you can get good paintings
from the surface. Prof. Suprr, in his
geological map. places Ramsey in the
center of the Comstock formation. The
ore returns high values in gold with
from fifteen to twenty-five per cent.
copper and some silver. Ramsey is
easily accessible to the railroads with
fine wagon roads to Virginia City,
Apache and Fort Churchill. We are
working three shifts on the Ramsey
Consolidated and the Ramsey Ophir. 1t
is great mineral country and l hope
to get more Goldfeld capital interested
in that section"