The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-11-07

p. D. M, Chicago.-American Smell.
ing and Refining stock is not as attrae.
tive as one might suppose considering
that it contrals the worlds output Of
silver and handles through its shelters
practically all of this country's output
of gold. The strongest argument in
favor of the stock is the resumption Of
silver purchases by our government and
the expectation that Germany will also
soon enter the silver market. The
American Smelling & Refining company
derives most of its earnings from silver.
and the drop in the price of the metal
from 81 to 51h per ounce has greatly
affected the assets and profits of the
concern, whose silver holdings are esti-
mated to amount to nearly ST., 200. 900.
All conditions have %conspired to hit this
company hard. Every industry from
which it can profit has undergone a ter
rife depression, and this has tended to
endanger even the present 4 per cent
dividend. The continuation of this divi.
dend depends on the ability of the
American Shelters Security company
whose 5 per cent dividend on the $780,
GOO, 900 B stock has been guaranteed by
the Smelling & Refining company. The
comparatively high price of the stock
is undoubtedly due to the enormous
short interest in it, which has been
fostered for weeks by the conviction
that the quotation was an abnormally
high one under ruling conditions. The
price of 100, predicted by the Boston
fakir for this stock, is as far away as
the probability that silver will sell
again at 81 cents an ounce this year.
q. H, Jersey City.-No development
work has been done ON the Jack Bell
property for some time, owing to a lack
of funds. The fiscal agent of the CON-
pany il Boston has not furnished the
supply of money his contract called for,
and in the meantime, by reason Of the
terms of this contract, the treasury
stock has been tied up, and no action
toward the sale of stock could be taken.
For the time being, individual stock
holders in Goldfeld have been protect
ing the property, which they consider
valuable, and in a short time when the
contract expires with the Boston fiscal
agent, the company will take up the
matter of finances and work. The best
reports coming from any district are.
coming from Yerington and Buckskin.
While the Jack Bell is technically in
the Buckskin district, it lies on the
Yerington side, on the same ridge with
the Nevada Douglass, which has re-
Gently been called the greatest copper
mine in the world, with a half million
tons of high grade copper ore blocked
out. A railroad will shortly be built
within a half mile of the Jack Bell
property, and interest in that section
is reviving fast.
L. c., Salt Lake.-The Nevada-Doug-
las copper mines at Yerington, Nevada,
are making such extraordinary progress
in the developments on the $50 and go
levels of the Ludwig that they are at
tracing attention to that camp
throughout the west. A Goldfeld oper-
ator who has just returned from Yer
ington says that none of the sensational
strikes reported from the gold camps,
either new or old, are any way compar-
able in value to the opening up of the
big ore bodies of straight copper from
these levels of the Nevada Douglas.
Yerington has already won an envlable
reputation in the west, and the present
trend is that it will become one of the
worlds greatest copper camps.
M. p, Philadelphia.-The Tramp
Consolidated has some of the finest ore
on the 350-foot level of the Denver
claim ever encountered in the history Oh
the property. Assays made this week
returned from $3.50 to $445 in gold ana
silver. The rich streak is averaging
about 20 inches, and is picture rock
throughout. The station in the Tramp
tunnel has peer completed and a hoist
ing plant is to be installed at this point
within a few days. Superintendent
Garden has 800 sacks of ore in the bins
and he expects to make another snip
ment in a short time.
]. W., Seattle.-The Goldfeld Mining
and Ore Reduction company does not
own or operate a reduction plant. IL
claims to own a process only, we NC
lieve. (2) We know nothing OF 'h'
other company of which you ask moi'
L. - ----k-