The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-04-10

:, o,r treatment of all mining com
panies operating in Nevada, and more
esneeially with those which seem to be
doing things on a large scale. we
sbould like to give the Austin Manhat-
tan Consolidated company for instance,
the benefit of the doubt. but the propo-
s;,;on is so enormous, requiring so much
money. that unless its hackers have I'M
limited capital at their command IL VIII
not be made a paying proposition. The
record of the people promoting the
scheme is not such as to command our
confidence in its ultimate success. Z. T..
Noisse is president and X. o. Evans is
secretary, and the Provident Securities
company, all of Chicago, is fiscal agent
These names sound familiar to us, and
if we mistake not they were the people
who put out the Cripple Creek Home
Mining company; the Cripple Creek
Homestake, and an Arizona company,
none of which, as we now recall. made
good" for any one but the promoters.
In this new promotion, the Austin Man
haitian Consolidated, they have certain
ly got hold of a fashy one. The con
solidation comprises no less than 16i
! companies embracing all the mines
along a mineralized belt six miles long
and three miles wide, with "severa
hundred mines all told" All this ter
ritory is to be worked from a single
tunnel. we are given to understand. thus
making the development OF this vast
mineral zone "an easy matter. we
observe that the capitalization is III
million dollars and the treasury stock
4 millions. From letters we have re-
ceived from subscribers, we infer that
the stock is being sold at rs cents, thus
putting a value on the property OF
81. SOC. 900. We have no doubt the prop
erty is a good one. Enormous wealth
was taken from these consolidated mines
years ago; but it is a scheme for the
financial giants of mining and not for
the little fellow with a few hundred
dollars to invest. 1t would take all the
little fellows to pay for the elaborate
printing the promotion company is put
ting out. A letter from the office of the
company tells us that the company has
'tliquid assets in excess of $250,oo0,
sufficient to put the property on a pay
ing basis, wen was no more treasury
stock sold.' Let the company pour
some of these so-called "'liquid assets
into the property and put it on a "pay-
ing basis.' There will be plenty OF
time then for the little fellows to get
in, and we predict the stock will be
lower then than at the present fotation
price.
w. C. McC., Honolulu, H. I've are
unable to get track of a company by the
name of Silver Peak and Goldfeld Min
ing and Milling company, although
there may be such a company. There
is a Goldfeld Silver Peak g.. NJ. %,
organized by t. c. Wingate, Bergavin
ct al, on whose ground nothing but as
8, ssment work has been done for many
months. There is also a Goidfeld 81.
yer Peak Mining company, a lead
proposition, near lookout, six miles
from Oasis, but nothing doing on this
property, since a %shipmen. Fix months
ago, which ran well in lead. Then there
is the Goldfeld Silver Ps3k Mining
company with a good property at
Coyote Springs, above Silver Peak.
This property is backed by c. s. Rey-
nolds ct al, of Los Angels A 10
stamp mill has just been completed on
this property and should be iu commits
SION by this time. Sorry We cannot give
you information on the cor pany of
which you ask, but possibly one of those
OF which we have spoken is the com
pany you have in mind.
j. J. W., Sacramento-The Florence
Extension is quiescent for the time be-
ing. The Rustler Fraction lease on the
Florence Extension, which was worked
continuously for a long time, closed
down about six weeks ago. 1t is under
stood that negotiations are on foot for
a new lease ON this ground. The Rust
Ter Fraction of the Florence Extension
lies up against the Little Florence hill
from which so much ore was taken and
the failure to find ore in the Rustler
Fraction has not only been a disap-
pointment but likewise a great sur
prise to mining men. An extension of
the Florence ore bodies south and south
west of the Little Florence, has never
been located, although an enormous
amount of exploratory work has been
done. 1t would appear that the lodges
either takes an abrupt dip to great
depths, or stops off short with the Little
Florence hill. There have been some
stringers of rich ore found to the west
of Little Florence hill and it looks as
if there may be important develop
ments in that locality.
I. 1. s., Scranton, Pa.-The Four