The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-06-13
w. z. F., Spring Valley. III. Tn,

W. e. r, Spring Valley, III. The
Pittsburg Silver Peak Mining company
issued a report to stockholders lately,
which was a surprise to the public, at
least, and we imagine a surprise also
to many stockholders, as it showed a
company indebtedness of nearly a mil
lion dollars. The exact amount of the
indebtedness is 1899, 600, of which $780,.
600 is money already advanced by the
directors, and $4,000 which is due on
the purchase of the mine July 10. This
amount it is proposed to raise by the
sale to stockholders of the 100000
shares Of unissued stock, which will be
allotted them, pro rata, at $l.2O per
share. Whatever amount of this stock
not taken up by the smaller share
holders will be taken by the Pittsburg
men who have financed the proposition.
The balance of the indebtedness, of
which $350,000 is due on the mine and
$4,000 to stockholders, is due in pay
ments covering n priod of two and one
half years, and can be met, says the
president. from dividends. The 100
stamp mill of the company ran to go
per cent Of its capacity during the
month of April, turning out bullion to
the value of $S4,6s0, Of which $4,000
was profit. The report says that it will
be necessary to expend about 100000
additional for "additions to the pump
ing plant. houses for the workmen and
additional equipment for the Silver
Peak railroad. The report is signed by
the president, William Finn.
s. L. T., San Francisco. We are not
familiar with the internal affairs of the
Manhattan Gold Wedge, nor do we
know the people composing its list of
officers, except it's president, John SAILS
berry, who was one of the most promi-
nent and active men in the affairs of
the Manhattan district in early days,
as he was in Greenwater. Salsberry is
a man of means, and his name was
used by many companies in the promo
ton days of Manhattan as IN officer
in a new lotation. Our understanding
is that this property has not been
worked for some time. The develop
ments on the Little Grey and the work
being done on the Jumping Jack and
other Sullivan properties, all surround
ing the Gold Wedge, ought to be valu-
able in proving up this ground. Man
haitian is turning out to be a big mill
ing proposition, as predicted by this
paper, in it's original write-up of the
district, in its earliest days. The ore
bodies increase in size with depth but
in value, although the Thanks
giving and some other properties have
opened up rich ore in their lower work
ings.
E. L. B., Albuquerque. We know
nothing of the Rawhide Mascot other
than that is claimed for it in their
prospectus. The people, whose names
are connected with it, have good stand
ing in Goldfeld. The prospectus says
of the company's property:
"The property of this corporation
lies near the Royal and Tiger group in
the Regent mining district of Rawhide
consisting of two full claims, Oakland
No. l and Oakland No. 2, with ont
groupings of strong mineral veins,
have given assays from SIS to
$45 per ton in free milling gold. Ac-
tive operations have been commenced
this property; for the present a com
plete surface prospecting is in progress
and development by shaft win be be-
gun as soon as the most available site
for such purpose is determined upon.
Outside of these valuable claims, the
company owns a lease on the Nevada
Umpah claim of the Rawhide CONSOLE
dated Mining company ground"
G.. M, N, Donora, Pa. Red Star
company owns three claims about three
miles southeast of Goldfeld. No work
to speak of, except what is necessary
under the law. Officers and directors
reputable business and mining men.
Company is out of funds, and is trying
to raise money to work a lease, believ-
ing that this is the quickest way to
get a treasury. 1t would cost a great
deal of money to develop the holdings
Of the company. That section of the
has never been prospected
thoroughly; only a few scattered holes.
ca st. Ives lease, Goldfeld, extends
until March Is, 1909; the st. Ives lease
at Rawhide to July l, 1910.
j. A. Dec, Moorestown, N. ]. We have
recently referred to the Jupiter and
promotions of D.. Mackenzie, in
these columns. The Jupiter is not work
ing. The Frances-M Mohawk lease on
Combination Extension is making to-
ward an ore body, according to a re-
putable engineers report. A half
dozen leases have started up in the i'm
mediate vicinity of the Franees-Mo-
hawk lease, operations being stimulated
by rich developments of the Little
Florence and Rogers Syndicate, near