The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-09-19

III excess of s~l0O00;000. The great Homestake mine, at Iced
MY, South Dakota, is the bulwark of the Hearst fortune, and
IT'S dividend payments have for years been at the rate of
more than $4,000 a day.
In each of these cases, the risk has been very small. Once
N ground is proved to contain ore, investments may be made
IN gold mines with a smaller hazard than in any other form
Vi human enterprise because of gold INNINGS immunity from
all these conditions upon which success in other enterprises
depends.
The time for investment in gold mines is, obviously, when
the shares of gold mining corporations are cheapest. Because
of the small sums, comparatively, required to open gold mines
IN proved ground, and put them on a producing basis, and
the ability of such mines to maintain themselves and pay
dividends once production is started, there is a period in the
history of every gold mining corporation when its stock is to
be had for cents per share, as against dollars asked for the
shares of any other class of corporation. All the gold miner
asks when he turns his property over to a corporation is
enough money to open it up. He knows the tremendous sue
cess that will be achieved when this is done. And in order to
get this money quickly, he offers shares in his corporation
at insignificant figures. Godfeld Mohawk, which has the
record of having produced more than S., 100000 in gold in 80
days from less than one acre of ground, once sold for Z cents
a share. After the discovery of the ore, the shares jumped in
value to $50 each.
Within the year there has been opened in Nevada a new
gold mining district which bids fair to become the most re-
has known since the discovery of Cripple Creek, the great
Colorado camp. A year ago, Rawhide was unheard of. To
day it is on the lips of hundreds and thousands of shrewd in
vestors, has already commanded the attention of the leading
mining anu hiotoi pei VI tS III anu 10 udhs SioN
ing in importance as a gold producing center. Rawhide's
phenomenal record is due to one single fact-it is proved
ground, known to contain great lodges and veins of persistent
formation, promising a remarkable production of gold. And
upon such a production, the future of the camp is assured. 1t
is because of this assurance that the camp has within the
short span of a year numbered its inhabitants up to 5000
the lure of gold in sight is irresistible. And because of that
same assurance, more than $~1,000,000 has already been in
vested in mining enterprises in the district; more than 80
hoists have been purchased and installed over shafts that
have been sunk to depths of 100, 200, 300 and 400 feet, prov
ing the existence of ore bodies all the way.
Rawhide has passed the prospect stage in much less time
than was required by Goldfeld. In the new camp, Nature has
favored the gold miner by eroding practically all of the Sec
ondary formation, and leaving the primary, in which the gold
values are carried, lying right at the surface. In Goldfeld,
the miners had to penetrate from 200 to 400 feet of this Sec
ondary formation before reaching the ore bodies. In Raw
hide there is no secondary formation, and the ore lies ex-
posed at the surface of the ground, SO that it may be said
that Rawhide is a camp of mines from the grass roots. In
stances proving this are numerous. The Big Four and Muir
raw leases on the estate of Rawhide Consolidated have been