The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-10-30

the mental attitude of the eastern In
weston toward mining stocks, but when
you make your howl to us and demand
to know why, if our reports on Gold
field. Consolidated are true, the stock
does not go up, you are barking up the
wrong tree. This is not a stock paper
but a mining paper. If you want tips
on stocks read some brokers house or
gan; The News is a mining paper ex-
clusively, has nothing to do with
stocks or the stock market, does not
pretend to know from day to day what
the brokers and stock jobbers in New
York and San Francisco are doing or
are contemplating doing with any par
ticular stock, and we are just as much
mystifed as you are as to the action
Of various issues. If you want to read
about the actual condition Of any
mine, however, you will find it in The
News, and just as it is and written by
men who are paid for their special
ability in that line. This paper does
not own any stock in the Consolidated,
never did and it has no business con-
nections with the Goldfeld Consolidated
Mines company of any kind. In feet,
as every one in Goldfeld knows, The
News receives not even the crumbs that
fall from the table of that rich cor
poration, as all it's business is given to
another paper, in which at least one of
its heaviest stockholders and officials
is financially interested, and there is
not the utmost cordiality existing be-
tween the management of the CONSOLE
dated and The News. What favorable
news this paper prints about the Con-
solidated is printed because it is fact
and the facts about the mines Of Gold
field is what we are paid by u SUBJ
scribers to give. Every word this pa
per has printed about the conditions of
the Consolidated mine are correct and
are reiterated, and we have no cor
rections or amendments to make. You
figure it out by statements made in
The News that Consolidated stock is
worth $40 per share; as the stock is
not selling for half that amount you
conclude the statements upon which you
base your calculations must be false.
This by no means follows. Stock prices
do not necessarily follow the value of
the mine. In fact they rarely do. For
instance, we know a Utah mine that IS
paying dividends every month, has
good reserves blocked out ahead and
is selling not much above a dollar. The
dividends in a year amount to almost
that much. How do you account for it.
And tell us, pray, why should Consoli-
dated stock be selling at $40 per share,
when it is paying dividends that net
only about Is per CEN interest on the
present selling price of about 81. From
an actual investment standpoint Gold
field Consolidated is selling for every
cent it is worth today, for II per cent
is not a very big interest on a mining
investment, which is a risk under
almost any conditions, or is usually
such by the general public.
Of course as we see it, with the great
value of the property to
figure on, the stock is worth more; but
the public which buys the stock for
dividends figures it on the income
basis and that is all there is to it.
Bear in mind, too, that the Goldfeld
Consolidated Mines company is paying
The largest dividends Of any gold min
ing company in the world today; it is
over 100000 profits per year,
it is SO conducting its affairs as to
able to keep up this dividend or a
one, for years to come. Its mill
las a certain capacity; it will treat so
many tons Of ore per day, per month,
,er year. The ore must be kept down
q certain grade to be worked to the
BEST advantage in the saving. There is
lot a complete saving of values in any
mill process; there is a small percent
lge of loss at the Consolidated mill, say
per cent. Five per cent on 800 ore
would be S. loss, whereas 5 per cent
IN $50 ore would only be $50; and
where over 600 tons Of ore are treated
ZACH day it is readily to be seer why it
8 desirable to keep down the grade.
Beside if the ore is too high grade it
ills up plates too fast and values that
not come in contact with the mer.
'ury run OF; it is too expensive bust
less cleaning up the plates every few
lours- So, until the mill is enlarged,
10 matter how great the ore bodies and
low rich, only about SO much q be
gotten out Of the mill and that Is cal
'uiated to be enough to pay al mining
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