Los Angeles herald., 1909-10-25

DOIu passed through tIllS IOllll1LlOll
with no cessation of the ore shoots
or apparent change in the values,
The Pioneer and Gold Roads are on
parallel assures, with the Tom Reed
lying between, and the vein structure.
ore and coutry rock are the identical
in each. The Pioneer has a small mill
installed which has been used in the
past for testing the ores. Mr.. Schrader
places the value of the proved ore in
the mine as between 100000 and
$500, 900.
Should Have Railroad
Those who are familiar with the sit
uation consider that the acquisition of
the Mohave & Midtown railroad is d
part of the plans of the syndicate.
This road, which was built from the
Colorado river to Vivian, two miles
from the Pioneer and about four miles
from the Gold Roads, has about twelve
miles of track and some rolling stock
in fairly good condition, and possesses
a franchise which is absolutely free
from taxation for twenty years By
building "a new standard gauge line
from Topoc formerly Mellin) on the
Santa Fe, up to the head of Snowfall
valley, central reduction plant could
be installed and the rails and equips
ment of the narrow gauge road could
DC uGSu 10 COHuGCl WIN IIG ulhCIt ll
mines. This road would run through
a fine agricultural section on the Colo
RADIO river. The Santa Fe formerly
owned every other section of this land,
which was acquired by a grant from
the government. The Santa Fe tract,
comprising $4,000 acres, was purchased
recently from the Rio Colorado Land
company by w. 1. Hollingsworth, the
Los Angeles realty dealer, and w. H.
Hole, a millionaire oil man, who are
presumed to have plans for it's settle
ment. Another essential to success in
the venture is the acquisition of a
water supply, for which Silver creek.
which runs through the district north
of the Gold Roads mine, could prob
ably be depended upon. None of the
mines of the district is developing
water of any consequence and all are
dependent upon springs for their
supply.
History of Gold Roads
The Gold Roads mine was located
in 1900 by a man named Jerez, known
as Mexican Joe," who was grub
staked by Henry Loven, sheriff of Mo-
have county. A rich surface pocket
yielded $1,000 or more, and on the show
ing a sale was made TO Joseph Burk-
hard, president of the Occidental Life
Insurance company in Los Angeles,
who bonded the mine two years later
to Posey & Bayly. Burkhard paid
$4,000 for the mine, put it on a pro-
ducing basis after sinking for 100 feet
on a stringer, and got $250000 for it..
The property has since produced more
than its purchase price in bullion and
has one ore shoot $50 feet in length.
with ore reserves valued by the man
agement at $5,000,000. The company
has recently completed a new forty
stamp mill, with two tube mills, three
Pachucha agitators, Buffers filter
press and cyanide tanks, the plant
having a daily capacity of $50 tons
An electric transmission line has been
strung from Kingman, furnishing
power for the operation of the ma
chinery, and a. new hoist with a ca
pacity of three tons from a depth of
1900 feet and a speed of $50 feet per
minute installed.
The mine is opened to the S00-foot
level and the average break of the
vein is nine feet, the average value
of the mill feed being $11 per ton. The
gold is very fine and the entire recov-
cry is by zinc precipitation, which ex-
tracts practically all the gold content
of the ore. the tailings from an $11
feed containing but 80 cents per ton.
The company has a bonded indebted
ness of $206,250, secured by mortgage
on the property, the proceeds of which
were used in building the new mill,
now in successful operation. The
principal offices of the company are in
the Security building, Los Angeles.
William Bayly is president, Rene de
BATE secretary, and the other direc-
tors are Fernand Robellaz, Lucien
Bungener and Jules Hunebelle. J. L.
Phillips is mine manager.
Hammond Interest in Tom Reed
In addition to the $4,000 shares of
stock already mentioned as acquired
by Hobbs and Hammond in the Tom
Reed they also secured by purchase
52517 shares from L. p. Hansen, for
merly president of the company, and
are believed to have options on other
large blocks of the stock. The price
paid Hansen was $150 per share. and
Hobbs agreed to take $4,000 shares
more from Hansen at the same price,
but Hansen was unable to secure the
stock. Mr. Hobbs had an option on
the control of the company about
year ago at $3.50 per share, but re-
linquished it. not considering the
property worth the money at that
time. Large bodies of ore of good
grade have since been developed, and
the mine is really in the bonanza
class.
The Tom Reed mine has had
checkered career, and for a time II