The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-02-27

l.. z. e., Dan fieA
Bell when it tooN over the
mine and mill at Berlin, increased IS
stock from 100000 to 2,5OO,oo'
shares. II issued to all STOCKHOLDERS
share for share, and put 100000 shares
in the treasury. The Stokes people
were paid $4,000 in cash and a million
shares Of stock. The company soid
about $4,000 worth of treasury stock,
which was applied ON the s25,ooo eash
navmeut. and $4,000 balance has been
about wiped ont from their results OF
mine operations, so the company Is
practically out of debt. When the Blue
Bell got this Berlin mine, it did a great
stroke of business. The property con
sists of a producing mine with 80 pat
ented claims, a store with $2o,ooo worth
of goods on the shelves; 20 miles Of
pipe line. two ranches and water rights;
a 3O-stamp mill, a hospital and machine
shops and offices and an electric iight
plant. There were 1900 tons of ore on
the dump of an average value OF Sio
and 1900 cords of wood. }. q. Phelps
Stokes, the wealthy young millionaire
socialist of New York inherited the
property, and tried to run it from h.
New York Office. 1t is said hat he got
tired of being robbed and concluded I,
turn the mine over to men who knew
the business, and were on h ground t,
watch it. In this way the Blue Be-
fell into the snap. The stock of thi'
company is selling very low on the ex
changes of the country and the whole
capital stock at the present selling
price would not erect the mill alone.
r. J. NJ, Salt Lake.-The superin.
tendent of the Nevada Calumet Copper
Mining company, n of the largest
properties in the Yerington district, r.
Eorts that the double-compartmen'
shaft No. l had on February Isl
reached a depth of 800 feet. At thi:
point, a strong flow of water was en-
countered. This company has spared
no legitimate expense, and has been
working day and night in order thai
the water level might be reached a'
soon as possible. Acting under the all
vice of their engineer, a station will o'
cut at the 350-foot level and a latera
run to crosscut the ore belt and deter
mine the extent and value of the ore al
this depth. 1t will now be necessary
to install pumps so that the sinkina
may be continued, and arrangements
for the prompt installation of shat
cage and necessary underground equip
ment are being concluded. Much inter
est is being manifested in the propose
crosscut at water level, as the indica
tons are favorable for large deposits
of copper sulphides at this depth.
F. F. Def, Bonneville, Ind. Their
is no danger of the Pioneer ullfro.
Mines company losing its ground. Their
is some contention over the ore shoe
that has been opened up by the leasing
company that took a lease near tn
line dividing the Bimetallic No. 3 o
the Pioneer company and the Indian;
claim belonging to w. ID. Millikin ct al
Some three weeks ago, Millikin elaine,
that the ore from the lease being takci
from under the side line in his ground
At that time the ore shoot and vein
had not been sufficiently proven up Z
determine anything, in fact. Sine,
competent and disintercsted minih.
men have been in the lease and ar,
free to state it as their unqualified opin
ion that, while the ore in the shoot ma,
be under the side line, still the veil
apcxes on the Bimetallic claim, an,
hence that claim would own the lode
1t may take considerably more work u
determine this point definitely.
I. W., Salt Lake. The statements you
quote are substantially correct. w,
cannot tell you whether the stock 81
the price asked is ga good investment
or not. No leasing stock can be regarl
ed as an "invcstmont.' 1t might DS
a good speculation, but even then We
would not want to commit ourselves. II
the lease should get good ore, it would
probably turn out a good speculation
If not, then it would be a poor specula
ton, but of course, this is not very
enlightening. All we can say is, that
the lease is well located and is being
honestly and energetically worked, and
if it gets the Mohawk ledge, it will like
~ prove a good producer.
I. G. H., Philadelphia. You wou,
be safe in buying Montgomery-Shoshon
at present prices. 1t is a "chinch' If
there a be said to be such a thing in
mining. The Montgomery -Shoshone is
developing into one of the biggest
mines of the state, and with sufficient
mill capacity, would outstrip the Gold
field Consolidated, perhaps. The mine
has a world of medium grade milling
ore.
s. F., San Francisco. The Red Top
Extension OWNS a fraction of a claim
between the Clermont claim and the
Miss Jessie, one claim width from. the