The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-01-26
TO HAVE A
MINING STOCK EXCHANGE

owned by these people in lnyo
California. The association has
organized the Tecopa Consolidated Min
ing company with a capital stock OF
$4,000. 600 shares with a treasury re-
serve of 1000. 900. and the following are
the officers: John T. Overbury, presi-
dent: n. p. Sloan, vice president; o. L.
Becker. secretary and treasurer. add
tional directors: w. A. Harris. J. ii.
Lester. J. A. Sloan. III. @. Mcmahon.
These are all Rhyolite people and the
main Office of the company will be here.
Mr.. Lester is to be general manager.
was formerly superintendent of the
Tramp Consolidated The property was
formerly owned by J. b. Osborne and the
Drew estate of Los Angeles. 1t includes
20 claims and the price paid. 1t is stated.
was s3S0.000. The company IL is stated
has a treasury reserve now of 100000:
IL is its intention to install at once two
45-horse power gasoline hoists and a ten
drill compressor. The machinery has
been ordered and 1t is expected on the
ground In a short time. Twenty men
are now being employed and ore is being
taken out and hauled to the grade of the
"Borax' Smith railroad. The rails of
this road are nov within seven miles of
the camp n will soon touch the acre
age. 1t is an old mine which had to be
abandoned on account of lack of trans
portation. There are now over 5000
feet of workings on the property. a re-
cent sampling of which gave a return of
s20.55 to the ton in gold, silver and lead.
: A good strike has been made on
the West Extension. situated about three
miles southwest of Rhyolite, and adjoin-
ing the original discovery of the dis
trict. At a depth of nearly 100 feet in
the new shaft started IN the side hill,
800 feet northwest of the development
shaft. some 5000 ore has been encoun-
tered, while the entire floor returns an
average of s75 to the ton mainly gold
and silver with slight percentages of
copper. Ore from the discovery ex-
hibited in town is of the jewelry de-
scription. 1t shows an abundance of
free gold to the unaided eye, and is the
characteristic green-appearing stuff of
this district. 1t is similar to the dis
covery by "Sharty" Harris made three
years ago, which sent the crowd south.
Assays from the face of the west
drift from the old shaft recently gave a
return of $64S. Besides this at a depth
of so feet on the Ethel claim of the
same company. the same material is be-
ing broken into. which proves the exist
ence of a high grade body for a dis
lance of over 1000 feet.
The Bullfrog Teddy Gold Mining COM
pany has just been organized to oper-
ate a piece of ground adjoining the Della
ware claim of the West Extension COM
MANY NVorE 10 70 he Startad af onaa
The surface shows that the same ore
groupings as those found on the West
Extension, and it is believed that with
a very small amount of work the prop
erty can be placed on a shipping basis.
In all probability Rhyolite will soon
have a mining exchange. AT a meeting
of the board of trade held last night,
the matter was taken up and a commit
tee appointed to find out the sentiment
of the people in regard to the projected
enterprise. Over 80 persons at the
meeting signifed their willingness to
become members of the new board. 1t
looks very much now like it will be a go.
The National Bank is sacking some
very rich material for shipment. Ore
from two places on the 250-foot level,
which runs from $3.50 to over $4,000 is
being assembled. superintendent Boyd
says that mineral conditions are con-
stantly improving, and that the property
is giving better values with every foot
of depth.
Construction work on the big reduc-
tion plant of the Montgomery Shoshone
is now well under way. The framing
for the building is going up, and some
of the machinery has already arrived.
1t is a 300-ton mill, and the management
plans to have it in operation by April l.
Three consignments of the million dol
lar ore assembly have already been sent
to the Salt Lake smelters, and others
are to follow as soon as possible.
In a short time the management of
the Victor will install an electric hoist
and a compressor plant. The Nevad
Power Mining and Milling company
which is building it's lines south from
Goldfeld and which has already con-
tracted to furnish power for the Mont
Shoshone. will also put it's lines
to this property. The machinery will
be on the ground as soon as the power
company is here.
The business and mining situation in
Rhyolite may be estimated by the con
dition of the postofice. The clerical
force in the office has to work until 2
and 3 o'clock in the morning and at this
mail distribution is two or three days
behind. An effort is being made to get
assistance from the department, but so
far nothing has been don The citi-
zens will probably raise a purse for the
purpose of employing an additional
force, and also more commodious quar-
ters.