The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-06-05
WHERE THE RESPONSIBILITY LIES

: UGH COMMENT has recently been INDUCED in by certain eastern
Nv papers. and also by letters which hav reached The News regarding
monthly output Of the mines Of ooidneld- IN a recent issue the New York
Commercial said:
Estimates smt tut from 0oldaeld a few weeks ago placed the net earn
igs II the ooldheld Consolidated Mines company al sseooOoo for the first
a omciauy reported to the authorities Reports from the camp ON HI oper
atoms Of the Florence company indicated that the company RAJ making a sub
stantih profit. while the sworn statement shows a net loss for the quarter of
s1s.sos. Such glazing discrepancies a these are hurting the Goldheld stocks
in the New York market
This ommen is based upon false premises. It is well known that the
greatest production made by the Consolidated during any month since the big
mill as started was in March, during which the net earnings reached
figures given ut late in April, whereas the estimate published in The
profit Of $3.50 600 which va more than $4,000 below the actual nt profit
The gross production for the month Of March is omciany given IS s1,22s-
75l4o. from which the extraction vas so5 per cent
This immense production vas due to heavy shipments from the then
newly discovered Hampton snpe. and also to the fact that the head
it could be headed on, N occur OF he average grade of the ore from the
Hampton stpe being ezceedinsiy high Since that time a determined effort
has been made b v thu Consolidated management to hold these values down as
they go to III mills, by mixing with re Q a much lower average grade
greatly reduced, but still kept It a figure that will approximately pay double
the amount needed for the monthly proportion o the quarterly dividend of
slosoOoo. If the Consolidated company SO desired. the record for March
could easily be duplicated month after month, but as General Manager
Mackenzie has recently declared he is mining the ore in a mann that he
thinks is best for he property and The company
During the two months prior . March. the big mill raj being gradually
broken i,, IS III public and the pressw we're well aware and had Tot reached
proportions tatw would a I'M tme JUSTIFY OF al f1 N e@um OF
s3soooOo net profit for the first quarter II the year.. Il January the net
sa7o1555s and in February, as the work Of the big mill ws gradually In
creased. the net PROFITS were sa4746ssl. the let earnings being $3.50.
217ls
The ..Hampson'' ssope had lot 1t that time been heard If. n the first
omcial announcement o. its discovery "a made by Mr.. A H Howe secretary
Of thu Consolidated company. through the columns OF The News on March IT,
It ws announced At that time that during the past IA days over 100000 in
valuesh have been taken n n the result If development work pure and
smple'
II was due TO Il. dAeovsy . this great nw bonanza that the output
of the Consolidated began 70 climb rapidly and passed the million mark OR tho
month Of March.
1ns nsurss given by the press at that time. were very los to the oncial
6mres given ut htr Although there mas been a tendency on the part o.
certain papers u exaggaats the facts. The News las consistently endsavored
to ken q close 70 the absolute facts as it was possible to do in n unomcai
estimate. Ana in this attempt It las been remarkably successful. Is . compar
ioa Of IL unofficial estimates and the omcial nsurss issued later viii demon
srsts. Tho Commsctal has evidently erred in ts statement IS 10 any
100000 estimate snanasns from coldhsld 1t certainly did not come from
The NswR
II appears that there y . discrepancy between the omca figures Of a net
uoat Of e1y5ee 7eAsl for ~ Ast quarter Of the year - given ia the stock
hoidss April 81. an he bsuone tai statement Of s.2oss4eOl, covering the
sans pated- Js what Il ~ eauss Of ts discrepancy cn probably be sat-
1sfae>euay uphansd 70 ts bulHsn tag eoussw By the Consolidated man.
ae@0t
II hs Mt bsa ~ Policy Of ~ censohdatsd naas.ns 70 give 70 the
um aefnsto q - usAnedou vssk BY week, OF un ~ sxptsauon Of
saeh nsahA. uMs e ~ fsususl ~ sAdL statsnAnt sfss u pssanchon has
~ umeagAH $1,000 ~ AEy "pedssuon'' Agws DubsAA aAavtss
as ! "mem' sA Ms uva = ~ pubue 'samsuA' xhy cannot ~