The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-08-17
BULLFROG HAS
ANOTHER F|zzLE
Famous (?) Gold Bar Prop
critics Attached by Lotus
& Davis.

Another chapter IN the history of the
Bullfrog Gold Bar company has been
enacted in the filing of an attachment
suit in the sum of s36. 300 by the Nevada
Exploitation company of Goldfield for
funds advanced to the Gold Bar COM
pany for the development of the proper
ty. the building of a pipe line, mill, etc,
says the Rhyolite Herald of Wednes-
day.
j. P. LOTUS and James r. Davis are
the controlling factors in both the
Bullfrog Gold Bar and the Nevada Ex-
ploltauon company. The money was
advanced through the Exploitation
company, which is the style of the
corporation under which these promi-
nent tnanciers transact the legal end
of their business
The construction placed upon the late
proceedings is that the Gold Bar prop
erty with improvements will pass alb
solutely into the hands of the COM
pany's president and general manager.
and that the stockholders will be
holding the SACK" in other words,
that the stock of the Bullfrog Gold Bar,
once worth nearly 81 a share will not
be worth the paper on which 1t is
printed.
Great Claims for Property.
The Bullfrog Gold Bar property had
been considered one of the largest
milling propositions in the state until
the failure of the mill to make good.
1t gained this reputation through the
frequent reports given to local news
papers and to the Nevada press gen.
orally by Superintendent Bedford and
Messrs. LOTUS and Davis. Herald
readers will recall numerous interviews
given by these gentlemen upon the pro-
ductive merits of the property and what
might reasonably be expected of same
with the installation of mill.
A ten-stamp mill, with plate ANAL
gamation only, was installed, which
made saving from 81 to 40 per cent
of the values. 1t was in operation sew
eral weeks, and during that time il was
stated that the work was satisfactory.
The mill closed down, and shortly the
information was given out by Mr.. Loft
tus that what had been a big mine
few weeks before had turned out to
be presumably IAN empty SHE'LL
Treasury Sold Out.
In the meantime. however, the treas
ury stock was sold out around II cents
by the officials of the company. to re-
duce the Indebtedness, and notice was
served upon the stockholders that I'M
less some Of them came to the COM
pany's rescue the property would be
taken over for the money advanced.
The sums advanced aggregate $50, 300,
and as Messrs. Lotus and Davis own
the controlling interest in the Gold Bar
stock, the property will be bid in by
them, if the usual methods are followed.
Official Reports.
The Herald is in receipt Of copies of
several documents, issued by J. P. Lof-
tus. president, and H. G. Mayer, secre-
tary, to the stockholders, the first being
dated April IL. 1908, and the last June
/, 1908. The statement of assets and
liabilities shows that the mill. mill
power line and pipe line cost above s45,-
900. these improvements, together with
the telephone line and buildings, etc,
aggregating 49,454.05. Development
work cost S91. 076.40. with s6.343.S2 for
machinery. tools and equipment, etc.
The loss in operating the mill was
sS.11467. the bullion returns being only
Sc, 667.99. Total losses are given at
s1S,1S3.97. That the mine did produce
some good grade ore as claimed. is
shown in the returns on direct ore ship
ments, amounting to s3,909.S7, which re-
duced the losses to $14,274.10