The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-01-16

informed by Thomas Withers, engineer
for the Goldfeld Ledge Mining com
pany. that the company, being out OF
funds, was compelled to call upon stock
boIders for money to do the assessment
work for 1908 or lose the property. 1t
seems that Mr.. Hendricks, the presi-
dent and promoter, has been very ill
the past year and unable to look after
the financial interests of the company,
therefore an appeal had to be made to
stockholders. Money began to come in
in time to start work, and we under.
stand that the work has about been
completed for the year on all the
claims. 1t is unfortunate the company
il in such financial straits, for work
enough has been done on three claims
to go to patent, but there is no money
to paw the government for final papers;
consequently the assessment work will
have to be done right along until patent
is secured. The ground is worth pros
pecting and patenting. One shaft is
down 20 feet and several other shafts
have been sunk to a lesser depth, and
a great deal of trenching done. The
idea of issuing notes to stockholders
who contribute to the fund for assess
ment work is a good one, for those who
contribute can eventually protect them
selves against the non-contributing
stockholders, by taking the ground if
necessary. (2) Enough money was sent
in to do the work on the Big Elk, also,
and the work has been completed.
B. c. A., Reading, Pa.-The Consol-
idated Red Top is shipping right along
and has been for some months. The
mine is in better condition than ever,
as will be seen in an article on the
property, in today's paper. We can
ascribe no certain reason for the slump
in the stock. The stock went to %
cents or more on the reports of the first
rich strike and the promise of diyi-
dends. A 2-cent dividend was paid.
This was less than expected. 1t was
also expected that the dividend would
be paid each month which was not done.
We do not know that the officers of the
company ever made statements leading
stockholders to think that dividends
would be paid regularly, but that was
Il .a1 Al. f.,l.,ra 20 nae
a dividend in December may have lead
to the slump in the stock. The man
agement is conservative and it's policy
is to keep a large fund on hand for
thinner times, for one can never tell
what to expect in mining. Should all
the surplus be paid in dividends and
the ore pinch out, there would be moth
ing on hand with which to continue ex-
ploration work and the lease would
Red Top lease has a large surplus on
hand now, and further dividends should
be forthcoming.
w. c., Philadelphia. Last months
cleanup at Keane Wonder mine was a
$4,000 gold brick. This product for
the month of December is not so large
as the amounts of previous months,
which is due to various causes,
mainly that the ore treated
was not of as good a grade
as formerly, but it was in the mine and
had to be extracted; it was too good
to throw away, and while it yielded a
fair profit it did not aggregate as large
a cleanup. A break in the water pipes
caused a loss of two days in the run of
the mill, which also resulted in lessen
ing the total amount at the end of the
month. A much better production is
anticipated for January. The first ear
load of tank material and accessories
for the cyanide plant arrived last week
and was Immediately freighted out TO
the mine. The remainder Of the tanks
will be along very soon. At the mine
everything is in readiness for the cree
tion of the tanks and the pipe connee-
tions, which it is expected will be made
in about three weeks, and if nothing
unforeseen occurs the plant will be in
condition to begin operations about the
first of February.
D. M. F., OoDbs Ferry, N. Y.-The
linn Florence surrendered their ground
after doing extensive exploration work.
The result Of their operations was very
disappointing as it seemed to be an ex-
eeptionally promising piece of ground
and almost certain to get one or more
of the rich lodges apparently running
into their ground; but through the per-
versity of nature the lodges were bar
rem at this particular spot, and not
enough time remaining Of the life 81
the lease, to open up new ground, the
lease was surrendered. (2) See last
weeks issue for reply to your query on
Big Florence.
J. D., Reno, Nev.-Look up your
paper of Dec. 26 and you will see es
tended reference to the Goldfeld Ger
fury in the Query department. We