The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-10-31
CONDITIONS In MANHATTAN
ARE STEADILY IMPROVING

At present conditions in Manhattan
are the most encouraging for several
months, says the Mail.
In asserting hat the conditions in
Manhattan are the most encouraging
for several months, the facts on which
the statement is based should be given,
but to 90 into all the details would oc-
cupy too much space, and so reference
win be made only to the principal
things.
First, in regard to the milling situa-
tion. Fifteen months ago, when con
struetion of the first mill was started
there was a general activity in the
camp and a number of companies were
blocking out ore and hosting it to the
surface. The fact of the construction
of a custom mill where ore of a non
shipping grade could be treated created
an added interest and a new leasing era
began, and, as a natural consequence,
otnef miiiS Ntfc pidhntu anu cit'tcoy
and now there are four custom mills in
the camp. The people investing in
these mills knew there was not enough
ore in sight to keep them all running,
but asserted that the rate of develop
ment then in progress would more than
supply them with ore, and it looked
that way at the time, but like a clap of
thunder out of a clear sky came the
closing of the State Bank & Trust com
pany, and the Nye & Ormsby County
bank. The closing of these home banks,
together with the general financial
panic, caught the treasures of a mum
Der of the operating companies and alb
~solutely stopped development. Stocks
dropped to such a point that the of
ficers of the companies were unwilling
to let any of the treasury stock go, and
the market continued to drop until it
reached the point where they could sell
no stock at any price. Miners were out
of employment and were compelled to
take a chance at a lease as a possible
means of subsistence, resulting in a
general line of leasers working in all
parts of the camp. In nearly every
case the leasers came into ore, but when
they paid an average charge OF $40 per
ton for treatment they found they were
getting the little end of the stock.
Conditions looked bad. The mills dur
ing this period were experimenting
with the several ores, making changes
in their plants and three of them have
reduced the milling charge for amalga-
nation and concentration to So, with 81
added for cyanide. This again gave
encouragement to the leaser, and he is
now taking out ore at a profit, that I'M
der the former mill charges was un
profitable. During this period the mill
operators began looking around for ore.
They saw the situation and determined
that the only absolutely sure way to
have ore for treatment was to mine 1t
themselves. One of these mills is work
ing 1S men on a lease and is able to
keep the mill running two shifts a day
and the owners state that they viii
soon be able to run full time on then
own ore. One other mill is operating
three leases and is running full time
Another is under option to purchasers
whose intention is to mill their own ore
taken from ground they nave undel
contract of lease. The other mill is run
ming full time on custom ore. Thus the
milling situation, which looked bad al
first. has returned in a benefit to the
camp, because they were compelled to
take up development work on their owl
account in order to keep their mills run
nlng.
Since the panic of 1907, with a few
exceptions, the development OF the
camp has been carried on by leasers