The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-06-19
T. @. O.. Garden City, N. Y.-Ther

T. @. O., Garden City, N. Y.-There
is no possibility of the leasehold of the
Pioneer Leasing company being for
feited prior to the end of the natural
life of the lease as set out in the leas-
;ng agreement with the parent company
the Bullfrog Pioneer company. Tobin
Bros, principal owners of the buliiros
p;o,sar sold the Conservative claim to
Messrs. wingfeld and Brown, and inc
first act of the latter gentlemen was 10
Give the Pioneer Leasing company 4
lease upon the par. OF .he Conservative
claim under dispute, the lease TIC expire
CONFIDENTLY with the expiration OF inc
lease upon the block vi tie Bi-Mcfai-
lie claim originally leased the fioneer
Leasing A"y suit which may
be brought against t,e lease company
by the new owners of tie Conservative
is but a suit in eqniiy, 10 ds-'ie "ia'
DdTl Vi tHt lON tst W
been taken from the Conservative eiaii;'
by the lease operators shouii be fdi'
tn the Conservative ci Gold HILLS COM
pany, and what pa:s To the buiitr"s
rioneer stoekhoider5. ~ the two CON
panies have practically perfected tneir
consolidation, and ate one ami the sane
company, the pion Ger lease Is In ht
danger. The physical conditions OF the
lease continue to imp."N'; ore snip
ments are being made stc IDLY, AMI the
lease promises to pay Il substantial am
early dividend. Il IS being operated
by men of good rep1;e, and appears 10
lie one of the best an most desiraL.e
leases in the state. lts ore bottles are.
increasing in richness VITA dcpth. Oh
seem to nave purclas.l SOCK N a "livt
one.'
L.. g., Salt Lake.-We have the fol
lowing, which purports to be the true
status of The Washington Montezuma
Mining company, the same being fur
nished by Henry M. Motz, president,
1876 Oakwood, Chicago. Originally
there was a company Incorporated I'M
der Arizona laws for 100000 81
shares on two claims. Washington Nos.
l and .. by Elkhart, Ind, parties. The
klkhart people failed to meet the pay
ments on the property which then re-
verted back to the owner. In January,
1907, the present company was incor-
porated under Arizona for 100000 81
shares. adding the word The to the
title of the Elkhart organization so as
to distinguish the two and receive a
new charter. The Washington Nos. l
and 2 claims, were then purchased by
the new corporation from w. b. Me
Connell and paid for at once. We also
purchased two more claims known as
the Red Rose Nos. 4 and 3, laying about
three-fourths of a mile northwest of the
two Washington claims. The Washing
ton claims adjoin the four claims of
the Montezuma Gold King Mining com
pany, whose stock was listed at Gold
neld several years age. Our treasury
started out with 100000 shares. We
will have about 100000 shares left. ]
note that you say that no work has
been done on the property since De-
eember of last year.. There has been
fifty feet of prosecuting done during
February of this year and more work
is being planned for the near future at
the 2O0-foot level where the showing
il extremely encouraging
j. H. s., Macon, Ga.-You must not
take the reports of the Consolidated,
the Florence, Silver Peak, etc., to the
bullion tax collector too seriously. The
bullion tax law is open to several con-
strmetions. Bullion tax is paid on the
net profit of a mine. Some mines chose
to charge against the net profits the en-
tire expense of building a mill or i'm
provements of such a nature. Others,
like the Florence, think they nave n
right to make other deductions. For
instance, there were many ~lessers on
Florence ground. Some of them spent
a large amount of money without re-
suits, consequently returned a dead loss
to their owners. AS the work was done
on Florence ground, the parent com.
pany claims a right to deduct this loss
from their net earnings, although the
work of the leasers did not cost the
parent company a single cent; but the
company says that as the work was
done for the purposes of the general
proposition 1t is a proper charge against
the company profits. You see there are
many ways to eonstrue this law when
it comes to paying taxes. Profits look
very nice to the management of a mine
out when 1t comes to paying bullion
tax, profits are very embarrassing and
must be wiped out. However, the court
VIII rule on these questions soon, and
an exact Interpretation of the law will
ba bal