Los Angeles herald., 1907-09-30
DIVIDENDS
DECLARED
LEASE ON COMBINATION MAKES
NOTABLE RECORD
ooLDFIELD REGARDS FAIRvIEW
AS RIVAL
Clark Railroad ls Nearing Camp and
VIII Be Operating to Los An-
geles by the Middle Of
October
Special to The Herald.

Mines company met last week and vote'
the first of the regular dividends to b.
paid, distributing $3.50, 900 among the share
holders.
George Mlngfield, the vice president; ]
M. Fenwick, Charles s. Thomas. John S
Cook and John wellington Finch, com
prising majority of the directorate, were
present at the meeting. Wingfield pre-
sided in the absence of Senator George
S. Nixon.
The reports of the officers had been
compiled and were presented formally
TO the directorate. The board decided
that an assured dividend, payable each
month, would be far more preferable than
the payment of a large amount occasion
allv
Stockholders in all subsidiary companies
of the Consolidated will be given an op-
portunity to exchange the shares for Con-
solidated. The board by resolution set
the limit for such exchange at October D.
Such exchanges will enable the holders
of constituent company stocks to profit
from the output of the Consolidated,
which is one of the greatest gold mines
on earth.
The Mohawk company declared divi-
dend of so cents a share on 10000 shares
of stock, practically all of which is owned
by the Consolidated. The dividend is
payable October 25.
Big Pay Roll
Nearly $4,000 per day is now the pay
roll for Goldfeld.
No other city of 10000 population or
Whereabouts in the entire country can
show ST III record. Nearly 5000 wage
earners, almost wholly organized, draw
this immense sum every day they work.
or more strictly speaking, every shift of
eight hours. And the list does not include
railroad graders, who are paid from the
headquarters of the railroad, railroad
employees, telegraph operators, express or
postoffice employees also so paid, nor any
other class of labor whose pay check
comes from an outside point.
The Irish & Sheets lease on the Com
bination has been a wonder ever since
ore was struck there over year ago.
Wonders do not cease on it and they are
at it again with one of the best finds
that has been made in the camp.
In a crosscut at the 20O-foot level east
and north of the shaft, three feet of ore
that assays at the rate of s110O a ton has
been entered and the same shoot has
been picked up in a crosscut run south
in the same direction as The one to the
north but the ore is only running little
less than half as good as in the north
portions of the ground. The body, how
ever, is fully as wide and assays at the
rate IF 40 to $500 a ton. Picked samples
of the rock that show gold on all faces
and crevices would run in the thousands
per ton.
1t is a hurry up call with the lessees,
however, and no attention is being or will
be paid to the high grade, which will be
dumped into the same care with the less
valuable stuff and hustled off to market.
Mohawk Ledge
The discovery is believed to be a new
one in the big porphyry dyke commonly
known as the MohawA ledge. The veins
and ore shoots that run through that
big dyke are wonders but they are as er
ratio and changeable as summer showers.
They hit here and there in that big dyke
but when found they furnish a fortune
for anyone that has only a small interest
in company as the ore is the richest
that has ever been found in the state.
A station is being cut at a depth of 4S5
feet on the Laguna and it will be a big
one as it is the intention to make this
shaft the big producer for the ground
owned by the Consolidated company on
the north end of their big estate. When
the diamond drill was in operation on
this ground wide dyke of high grade
ore was cut, but how rich and wide will
only be known when drifts and crosscuts
are extended as the diamond drill is
somewhat deceptive. The bit may have
followed the ore shoot for It's length or
it may have just run through the dyke
vertically and if this is the case the La
guna will turn out to be he biggest mine
Of the camp as the pay portion of the
cores that were taken out were 40 feet
in length.
Fairvew is beginning to be regarded as
l. .g..l
matter of fact, the average of the ore
taken out of the Nevada Hills averages
nearly 800 a ton more than that which
was taken out from the Mohawk, when
the Hayes -Monnette lease was at its
fairest, and was astonishing the world
with i's richness. Fairview Eagle bids
fair to eclipse the output of Nevada Kills.
The recent strike on the Florence L. &
M. has been followed by the discovery of
a ledge of good shipping ore on the block
of ground adjoining on the north, which
is operated by the Nevadan Leasing and
Mining company, of which E. r. Anger
singer is the manager.
Famous Old Reilly
The Nevadan and the Florence L. & M
are close to the famous old Reilly lease
which produced a million dollars and
the location of a big ore body such as the
Reiny had seems but a matter of intelli-
gent development. The Florence L. & M
is mining a good grade of ore from the
same ledge as the Nevadan, and both
leases give promise of wonderful pro-
duction.
The Western Pacific railway is making
rapid progress toward Rosebud and it
will be but short time until ore can
be shipped over that road with only a
seven or eight mile haul
The Brown Palace of that district has
shipping ore in two shafts and is sacking
at both places; the leasers on the White
Alps are saclxing first class ore and will
ship as soon as they have a carload; the
strike of ricA ore made this week in the
Dreamland at depth of 100 feet is the
most important event n the history of
the camp. The Syndicate lease is still
working on the rich pay shoot which was
uncovered few weeks ago. and the an
nouncement is made by the management
that the ore bodies are larger and of a
higher grade than when first uncovered.
The Sandstorm section of the district Is
ft,o old-4fFoa o0tfxyfftr of fba