Los Angeles herald., 1908-06-21
NEVADA
GOLDFIELD

financial flurries the Goldfeld district
has again struck it's pace and prom
ises to astonish the world with its pro-
duction of gold ore. Capital is now be-
investors have no timidity in placing
their money here.
The question of labor has been set
tied, probably for all time, and prop
critics are working full blast. Each
week sees more properties resumlng
work and by the end of this year the
past furious pace of Goldfield will
have been pitifully dwarfed. The
riches of the section seem to be with
out end. The entire district is appar-
emily saturated with the yellow stuff,
which requires only shallow shafts in
some portions to penetrate.
Four years and a half ago Goldfield
was really district by itself. 1t was
born under adverse circumstances and
claims were given away for song
that are today worth fortunes. During
these same four and a half years Gold
field has given to the world just $19,-
| 947, ,250. 81, or at the rate of $4,300,000 a
year, This includes a period when
primitive methods only were used, such
as windlasses. Only during the past
| two years or so have electric hoists
sprung up throughout the camp. Such
a record is considered competent to
challenge the entire mining world. Six
years were required to bring famed
Cripple Creek to the plane that Gold
field acquired within one year. While
| it is true that the major portion of
this twenty millions of dollars came
from comparatively restricted area,
no mean factors in the production were
properties on what is considered the
outer rim. including the Daisy, Great
| Bend, Sandstone, Quartzite and Ken
| dali, three miles distant from this city.
OF this total of approximately $50, ,000,-
| 600, there is credited to the Consoli-
dated Mines company $15.457,2 ,250; Flo
renee, $3,000,000: Combination Fraction,
| $500,000, and the mines on the outer
rim, including the st. Ives. $950,000
Eight Months Output
One must not forget that perhaps
$12.000.000 of the total belongs to a
period of but eight months during the
| operations of the famous Frances Mo-
hawk. Hayes Monnette and Combina-
| tion Fraction leases, and during which
time there was loss of about 100 days
due to labor troubles Had this not oc-
CURED the production within the total
period would not have fallen short of
$23, 100000.
So far as dividends are concerned. the
spectators and investors in the Gold
field district have Jared exceptionally
well. The dividends paid amount to
S,517000, or also showing that COM
pares with any like distribution in the
history of mining. The properties
which divide their profits with the pub
lie includes: Hayes Monnette. s3,000,-
900; Combination mine, $1,000, 000 Con-
solidated, $720.000; Little Florence, $780,
900; Frances Mohawk, $546, ,000 Mo-
hawk Jumbo, $1S0,000; Mohawk Combi-
nation or the Ish-Sheets lease, $780,
Florence Goldfeld $210,000: Combina-
ton Fraction lease, 100000; Mohawk
Florence. 100000: Nevada Explota-
| ton company, $4,000; Jumbo. $4,000,
and miscellaneous leases $500, 900.
c. Walter Geddes on August 1 of last
year, at time when he was general
superintendent of the Consolidated
Mines. reported that the probable ore
reserves in those properties were $685.
| 100000, divided mainly as follows: S25,-
100000 in the Mohawk; S., ,000, 900 in the
] Combination. and $3.750,000 in the Red
| Top. This was nearly one year ago.
The present manager, ]. H. MacKen-
| zie, said last week that there are $780,
100000 net in the Consolidated mines.
When Geddes made his estimate the
lowest level in the Mohawk was 450
feet, and no production was figured
from below the 350-foot level. The
shaft on the Mohawk today Is 600 feet
deep and the bottom level shows twenty
feet of ore worth $50 a ton. There
have been issued in Consolidated stock
3,535,171 shares, so that the measurable
ore reserves are close to the par value
of the issued shares, or $35, ,351, 10. To-
day the stock is selling for about one
half of what it is worth, based on the
actual ore in sight in the properties.
Vast Sum In Mill
A mill costing s75O,OOO is IN course of
Loo ctra1 ION, for hn do frI
properties to the north of the town
and will be in operation the first
| of November. It's daily capacity
will be 900 tons, and will recover 92
| per cent of the assay value. This
means that 600 tons worth $40 a ton will
go into the mill each day. This makes
a total of $76S0.000 a year. The net
returns will be about 70 per cent. There
| is five years business now in sight at
the rate of this seven million year,
and the opinion is general that the ore
bodies will go to 1000 feet or even
more Perhaps fifteen years will not
see this mine exhausted.
Last week there was opened on the
Combination Fraction a $50 body of ore
that may yet rival the Mohawk at
depth of 400 feet The Florence has $3,-
100000 already blocked out and an
additional million second grade in the
Little Florence and Rogers Syndicate
ground. This ore, worth $4,000000, lies
idle awaiting the completion of the big
Florence mill, which will handle 80 tons
a day. 1t will take over four years, at
the rate of s1,000,00 a year, to exhaust
what is now in sight and still 500 feet is
the lowest point reach on the Florence
ground. On the Victor, mile to the
southeast, there is on ore body five feet
wide running $50 at a depth of only 250
feet, and this is one of the most signi-
ficant strikes vet made. 1t carries 10
per cent copper, indicating that to the
south there lie great copper mines. The
Lagune has picture ore which carries
the producing zone 5000 feet northeast,
On the outer rim the Sandstone and
Kendall are getting the goods, and the
Daisy, Great Bend and Quartette are
absolutely certain to make good in pro-
duction. The Daisy has five feet of $50
ore at 300 feet and a three compart-
ment shaft IS going down. Three great
working shafts are going down on the
Great Bend ridge to the north of the
city.
There are now in camp, either COM
pleted or nearing completion, seven
mills with a combined capacity of 1000
tons a day. Five months from now the
wheels in every one of these will be
whirring. Place the tonnage at $40 con-
servatively and each nightfall means a
production of $4,000, or 14,400, 900 a
year. With the concentrates and pic
ture ore that do not go to these mills
the production will reach $16O0O,0O0.
Goldfield will have $4,000 people with
in couple of years.
WONDER
The outlook for the Wonder mining