The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-03-14

nave already been let, and further appli-
cations for leases are under considera-
ton by the company.
1.-The company has just closed a deal
for the sale of $50, 900 worth of it's
treasury stock to San Francisco and
New York mining men. which fully fin
ances the company. and all it's treasury
stock is now withdrawn from the market,
although there are probably $4,000 shares
previously sold, which are being traded
in on the local exchanges, and are be-
ing absorbed very rapidly.
THE people who paid 100000 for the
treasury stock did so without asking
for control, part of control, voice in, or
any change in the management, appre-
ciating the value and the great posi-
biIities of this property. The manage
ment believes that this money will be
ample to carry on all development work
necessary, and is now negotiating for
the construction of a mill on the prop
ertv for the reduction of it's ore. 1t is
the ambition of the company to be the
first dividend-payer of the camp, as IL
is thus far considered owner OF the
biggest mining estate higher
naturalization and having the deepest
shaft in the district, and has run more
feet of tunnels than any other compan
of Rawhide.
.It is generally conceded by mining
mon who have devoted their lives to
the business that Rawhide will, within
the next two or three years, produce
some of the greatest mines that nave
ever been opened up in this or any
other country. Biologists are OF the
unanimous opinion that the formation
of Rawhide indicates great depth to the
ore bodies, with increasing values
showing with depth. Properties that a
few months ago could have been bought
for a few hundred of a few thousand
dollars, are now selling at prices rang
ing from ten to one thousand times
greater. All deals now made are for
spot cash. Four weeks ago there was
very little money in Rawhide. but now
the three banks that are located there
report a tremendous volume OF business,
with deposits being made principally in
cash.
Three mills of t~hirty-fve stamps
have already been shipped into Rawhide.
and the construction of numerous other
mills are in contemplation. This Is
especially important to the new camp,
for it means the early and rapid reduc-
ton of it's ores, without heavy expenses
of shipping and reduction charges II
shipped to outside camps.
Daily and weekly papers flourish in
Rawhide, and every business and profess
sion is represented. Already there are
eavan CITY blocks built up almost solid.
Town lots sold last October from $40
to $50 each. The same lots sell now
from $4,000 to $4,000 each. and some
as high as $4,000. In fact. the ground
rentals of those lots command a price
of from $50 to 5000 a month. with all
improvements reverting to the owner at
the expiration Of two years.
'-Phenomenally h~igh-grade ore has
been found over a wider area than In
any other camp known to mining his
tory.
Great credit is due to the pioneers
of this camp. who endured all the hard
ships Incidental to a pioneer mining
camp. Many of the men who went there
with very little money are TODAY en-
bryo ~millionaires. I have maintained
from the very beginning Of this camp
and am stronger in my belief than ever.
that Rawhide will within a very short
space Of time open up. develop and pro-
duce more dollars from gold bullion than
any camp tina ever opened up In this
or any other country. Within the next
two or three years II will have more
diyidend-paying mines than all the rest
Of the Nevada camps combined