The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-05-22

Goldfeld Consolidated and giving the
history of the former, in this depart
ment. In the first place, the Goldheld
Consolidated is an entity, whereas the
'sComstoek" is a general term indieat-
ing the various mines along a certain
lode. There was no famous mine
known as the '.Comstock.' The Com
stock is a lode or great fissure, 50
named from it's d~iscoverer. There were
several mines located along this lode.
Comstock mines were capitalized
upon their area, and each share OF
stock represented a foot Of ground.
Therefore the capitalization IN shares
was much smaller than present day
companies and the shares represented
a c~orrespondingly larger value. Gould
and Curry, for instance, sold at one
time at $1,000 per square foot-or per
share. Ophir sold for s1,5so; Savage
at So, $500. In the summer of 1859 men
were selling feet and inches on the
various lodges of the Comstock group
and not shares. Since then, however,
there has been "a change in methods.
All Comstock mines were assessment
mines, and when an owner did not
come up with his assessments he was
advertised and sold out. According to
government reports there were @o2,-
100000 paid in assessments by share
holders of Comstock mines, starting
from 1859 and for p years. The divl-
dends paid during that period were
s1l6, 0OO, 900. The bullion yield during
that time, was $500, 100000. The dis
crepency between the bullion produc-
ton and the dividends paid, was due,
of course, to the coast OF mining anu
milling; but this cost was most aston
ishingly high because of the fearfulIy
reckless extravaganza of the mine a
money and it was spent in the most
lavish manner nc account being taken
of the economies of mining. The out
put as above, includes not only the
mines on the original Comstock lode,
but of Gold Hill, which was IN the
same district. These mines have all
played out, however, and stocks which
were selling at hundreds and thousands
of dollars are now selling for SO many
cents. The mines got SO deep and the
ore is running SO low that it is impos-
sible to mine at "a profit, although
some of the companies, lured on by the
hope of again getting bonanza ore and
also encouraged by the lessened ex-
pense of mining by modern methods,
are still submitting to assessments and
are mining or rather pocket-hunting
among the old workings. Cost Of keep
ing the mines unwatered is fabulous.
Miners can work under ground only u
half-hour at a time, when they are
compelled to go to the underground
cooling rooms, the heat and steam from
the subterranean waters is so intense.
They work practically naked. For all
these reasons no comparison can be
made between the Comstock and Gold
field mines and mining. (2) Now as
to the Consolidated and it's mill, it is
running to it's full capacity Of 600 tons
per day, and the Combination, another
of its mills, is running full. Therefore
the Consolidated, to increase its aggre-
gate output must either enlarge It's
treated, or send more ore to the smelt-
ers. 1t can easily run richer ore, if
found wise, as it now reduces it's best
ore by mixing with lower grade, for
economic purposes; it can increase its
shipments to the smelter as the mine
has a great quantity of smelling grade
ore, or it can increase it's milling
capacity as it is now considering do
ing. The mine is making it's dividend
and there is no reason to force produc-
tion. Modern mine managers do not
gut their mines.
w. H., Stockton, Calif.-The firm of
which you ask stands well in Goldfeld;
in fact is one of the strongest broker
age houses in the camp.
M. s. B., San Diego, Calif.-L. L.
Patrick, president, of the Bullfrog Ma
tional Bank Mining company, says the
treasury fund of this company has been
exhausted. A great deal of develop
ment work has been done upon it's
ground with the result of blocking out
large bodies of ore of a good milling
grade. The money received from the
sale of its tresury stock was expended
on the ground, and none o fthe officers
OF the company ever received a cent
compensation for their services. No
property in the district can show "a
larger proportion of money received
from the sale of it's stock expended in
actual work than the National Bank.
This stock was sold at 30 cents nor