The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-10-31
G. E. Rutland, vt.-The statemer

G. e. Rutland, vr.-fhe statement
made in these columns a few weeks ago
that the Goldfeld Consolidated Mines
company would begin regular dividends
shortly after the first of the coming
wear. was upon the authority of U. ;.
Senator George $. Nixon, president of
the company, and irrespective of the
Wall Street Journal, which you quote,
there is every reason to believe mat
what Senator Nixon said was absolutely
correct. All Wall street papers are I'M
friendly to Goldfeld stocks, because so
much money has been diverted from
Wall street for Goldfeld securities. In
the clipping You sent us, it is apparent
hat the Wall Street Journal did not
know what it was talking about when
il said ssthere is no indication that
there will be a resumption of dividends
in the immediate future, y and it is also
apparent that the paper in question
took no trouble to find out the facts,
and printed the u%ntruthful statements
simply in a reckless desire to undermine
Consolidated and mining investments
generally. Last weeks News tells why
Consolidated is about to resume divi-
dends. The company made total prohts
in eleven months up to September 81,
of 1852. 1884. all from one mill-a com
parativeiy small concern known as the
Combination mill. During the year 1t
has been building a mill that will treat
eight times as much ore as the Com
bination mill, which will be completed
and ready for operation the first of the
wear. with enough ore blocked out and
ready to ship to keep the mill going IN
definitely day and night. The new mill
will treat 500 tons of ore daily. The
ore will be graded to average about $40
per ton. The extraction will be about
IS per cent, and the daily output will
therefore be a little less than $4,000.
The cost of mining and transportation
will be 1926 per ton, now that the ore
is blocked out, and the cost of treat
ment not more than 1915 per ton, or
So cost in all. The daily profit Will be
about $4,000, or 100000 per month.
The company paid out OF its mill up to
September 80, $651,544.90, and still had
on hand il cash and in ore in transit
at that date, 1923 ,903.02. Doesn't this
look as if there were indications that
there will be a resumption of dividends
in the immediate future?' If mining
investors would only TAKE mining
papers for their mining news instead of
relying upon Wall street papers which
carry thinning departments only for
the purpose of destroying confidence in
mining investments, they would be
easier in both pocket and mind.
E. F. j., Briggson, Ore.-Searchlight
is in the extreme southern angle of the
state, and Johnnie is midway between
Searehlight and Rhyolite. Both dis
tricts have some good mines. We know
nothing of the proposition of which
you ask, nor of the standing of the men
connected with it; they seem to be Los
Angeles people. We advise you to go
slow and investigate thoroughly before
investing in a purely prospective prop
erty. While we cannot say that it is
not a meritorious proposition, we hest
tate to recommend the purchase OF
treasury stock in any company, when
the value placed on it is so low. At the
price asked, it would require the selling
of a million shares to realize $4,000,
and that amount of money does not 60
very far in making a mine, especially In
low grade milling camps, such as the
above. Of course, the capitalization
may be several million, in which case
the investment would be equally haz-
ardous. The advertisement does not
give enough data on which to base an
unqualified opinion. The advertisers
will doubtless send you full information
upon request. (2) The second stock
you ask about may be a fair specula-
tion, but is not what might be called an
investment. The property is not being
worked in such a business-like way as
to lead to the belief that it will make a
mine; but if you buy for a speculation,
the price is now low, and any rise in the
general market may take this stock
along, so that you could realize a few
points from it. Should you buy this
stock be ready to sell it out on a fair
advance.
A. e., San Francisco-The Adams is
not working, but the management in
forms us the company will shortly start
work on its on %accOunt. 1t has applica-
tions for leases. (2) Conqueror not
working on company account; recently
let a lease (2l Our latest rnoto. &c oe