The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-11-13

nothing the matter with the Florence
mine; it is the stock. You must bear
in mind that Florence is purely an in
vestment stock. 1t never has been a
good speculator. There is not enough
Of it out. Those who own the control
have nearly all the stock and pay no
attention to the market. They neither
sell nor buy, unless during rare inter
walls when the stock gives a big dip,
Lockhart or Parker steps and picks
it up. They always do this on bargain
days. The chief reason that the stock
is inactive and soft is that it is not a
popular trader and no one pays any
attention to it. 1t is not subject to
sharp declines or reactions and there is
no chance to scalp the stock-or not
nearly so good as in other issues. AS
will be seen in another column of this
paper, the mill capacity has been great
ly enlarged and the output correspond
ingly increased. There is an abund-
ance of mill ore in the mine and 1t
should be a dividend payer for years
to come. Don't confuse mining and
stock jobbing; they are two distinct
lines of business. The business of one
is to make money out of the ground;
the other, to make it out of the public.
You say Florence is now selling at
panic prices. You are mistaken. Flor
ence at one time got as low as 81 per
share. and after it became a dividend
payer.
T. M. e., Philadeiphia.-We are ut
terly at loss to explain the Fraction
situation. Never but once since George
Wingfeld got control was a representa-
tive of this or any other paper adj
mitted to the mine and this was a few
weeks ago when a fine body Of high
grade ore was struck. AT that time
the management generously threw open
the mine to the newspaper fraternity
and the mining writer's were conducted
through the mine, shown the rich ore
body and treated with sufficient con-
sideration almost to arous suspicion.
But the ore was there-a fine body of
it and high grade-and it looked as II
it were good to stay. Every writer
that saw the ore-every mining man
allowed to inspect it, had the same
view. and it looked as if Fraction was
finally to come into it's own. The man
agement either thought that there was
lasting ore opened up and the mine
good for a steady production, when
a dividend was declared, or it deliber-
ately jobbed the public. But right
here it should be said that it is not
definitely known on the outside that
the mine is out of ore. No one on the
property will say that the mine is out
of ore, but it is generally believed that
it is. We understand that portions OF
the mine have been unsafe and that
men have been ordered out of the
slopes at different times, and the fact
that no ore is being hoisted and many
men laid off, may be due to the un-
safe condition of the workings. Bnt
the Fraction has had high class men at
| the helm, men who have made big
mines elsewhere, and it would not seem
that they would mine in an unminer-
like fashion. Again, as to the ore. The
Fraction is what may be called a
nfreak'' or a "bastard' mine. 1t is
we'll located, in the heart of the ore
producing zone, but it has never proven
"true.' While in the zone, it is just
off the edge of the strike of the Con-
solidated and Florence vein system,
but it is so close that there is some
enrichment of the Fraction veins, and
now and then rich ore is found. The
ore body struck at the time of its in
spection by the mining writer's might
have been one of these lenses, and it
probably was. The n in which
1.-THE management has handled Fraction,
however, does not put it beyond sus-
cion of a stock manipulation. Every
other mine in the district has always
been open to inspection by local news
paper men. The News, especially, has
had the entire to the mines Of the camp
because it has always had the best
mining writer's on it's staff in the west
and they were always able to portray |
the true conditions. But from the time
Wingfeld got control and Mr.. Stark
gone away, reputedly to Old Mexico,
has been a sealed secret and the man.
agement a corked jug. Nothing au-
thoritive could be had from any source. ;
At this very time, when the public is
the most clamorous about the situation,
Wingfeld is out of camp, Stark has
gone away, supposedly to Old Mexico,
the superintendent is not allowed to
open his mouth, and 10 one is permitted
to enter the mine. So there you are.
II it 10 . job, The News will find it