Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-05-04
RULLFROG MINE
A DISAPPOINTMENT
Engineers Sent to Examine the
Montgomery Shoshone Render
UnfavorabIe Report.
WHAT CAUSE STOCK TO DROP
Looks Like stan OF Cmrles NJ.
Schwab Had Become over
Enthusiastic

Another failure may be charged up
to Charles NJ schwab the steel king.
The noted easterner, few years ago.
was conspicuous figure In Nevada
mining affairs and his name has been
associated with the roatation Of the
Montgomery Shoshono at Rhyolte
which until few days ago had been
generally regarded as a proposition OF
great value But according to advices
received from the east the engineers
sent out TO examine the property. A.
Chester Beatty and Henry Krumb,
have rendered unfavorable reports,
which Is the cause of the sudden de-
cline in the stock last week Ia the east
ern markets.
'On Tuesday nformationlo the most
enthusiastic kind was circulated that
pool of large proportions was forming
to advance the stock, says the New
York Commercial of the 30th inst, 80
mat the break yesterday threw conster-
milton into the ranks of those who had
been led to believe that a favorable re-
port was forthcoming, In the light of
the unfavorable report, many who are
Interested in the stock assert that there
seems to be no excuse for the so-called
tips that have been circulated recently
suggesting an advance in the stock.
At least 10000 shares of the stock
were dealt In and more would have
been sold had not bid been lacking.
The official statement states that a
meeting of the executive committee of
the company was held yesterday morn
ing to receive the report OF the expert
selected ia accordance with the unani-
nous vote of the stockholders at their
recent annual meeting to examine the
company's properties.
IL
panying the report, and about two
weeks win necessarily elapse before
copies OF the report can be prepared for
mailing to the stockholders. the secre-
tary has been authorized to give out the
following facts:
The report is much less favorable
than was hoped. 1t shows that while
there are large ore reserves, the de-
Velopments Of the last six months have
the ore is below commercial grade. The
future value of the mine win largely de-
pend upon the developments in the sui
phide zone, to which the company is
now sinking a shaft as rapidly as pos
shle.
lin addition, Charles NJ. Schwab. who
has personally advanced Si00, 600 TO the
company, made a statement in which
he was quoted as saying that the report
by no means meant that the property
was worthless, but, it's future was a
matter that additional development
alone could determine.
Montgomery Shoshone represents a
consolidation of a number of the large
BuIlfrog properties and the stock, when
first listed, was quoted at s23 a share.
since then the decline has been con-
tinued though SLOW. the low price of
S1h a share being reached yesterday.
The property and it's developments rep
resents another link in that unfor-
tunate mining chain that the Schwab
interests have been connected with in
Nevada during the past three years.
While there still is hope of good re-
suits, the outcome begins to convince
many that Nevada has not proved to
schwab what his personal staff had
held II out to him.