The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-10-02
HAYES Monnette Bonanza.

Hayes Monnette Bonanza.
Ore was first discovered on the HayesMonnette lease in April,
1906, at a depth of about $50 feet. BY the end of the first week in June
nearly 25oO tons of ore averaging better than $50 per ton had been
shipped. The Mohawk then began to attract a great deal of attention
ON the part of other lessees, who succeeded in opening fabulous
values, similar to those which were finally found in the Hayes-Mon-
nette. The total production of the Hayes Monnette lease was $4,000,
coo, and it paid dividends amounting to $3,0O0,OO0. The richest ear
of gold ore " produced in the history of mining came from this
lease, bringing a check from the Saby Smelling and Lead company
for $574.95S.39, in settlement for AS tons of ore worth $122412 % per
ton. Many other leases in Goldfeld have produced from 100000 to
more than 100000, and bonanzas of equal extent and richness to
these sensational leases have during the last few months been opened
in the Consolidated and Florence mines under development by the
owning companies. The Combination Fraction is likewise now in the
running with the highest grade ore body it has ever had.
Leasing System Developed Goldfeld.
Up to the beginning of the present year the development of Gold
field was carried out almost entirely under the leasing system, to
which its rapid progress and wonderful production was almost en-
tirely due. The Hayes-Nonnette strike started the first great boom
and also the era of leasing that was the making of Goldfeld. Only
for the leasers the great possibilities of Goldfeld as a producer of
gold would probably have remained unknown for many years, but the
parent companies are now carrying on the largest part of the mining
operations. The fortunes made by leasers IN this district In a
brief period of time Is amazing. The IIayes-Monnette produced more
than $4,O00OO0 in less than nine months, the Frances-Mohawk pro-
dueed s., 275OOo in 1876 days. the Reilly lease on the Florence 100000
in three months, the Engineers lease o the Florence more than
$10O0OO0 in less than four months, the Little Florence more than
$lySOO,OOO in twelve months, and the Combination mine s., 100000 in
a few months.
The Frances Mohawk was n of the sensations, of ore
as it was broken down across eight feet averaging 1882 a ton, while
another car of sorted oe from the same lease went $4,000 a ton, or
$4,000 for a shipment of eighteen tons.
Wild Frenzy of Speculation.
Strikes like these caused a wild frenzy Of speculation in Goldfeld
stocks sin the fall Of 1906, prices scared skyward and brokers fought
in the streets to fill the orders for their clamorous customers from all
parts of the world. Sessions of the stock exchanges were not long
enough to transact the business, and curb sales were as heavy as deal
ings 0 the board. Mohawk jumped from so cents to $40, and all the
other stocks went up at lightning speed. The .swid-catter' found
it a are opportunity, and reaped a rich harvest despite efforts OF
legitimate promoters to prevent the fleeing Of the public.
Millions were stolen from the mines and leases by the high
graders, who sold their loot to 'high-g grade assay shops for a
small portion of its value. So brazen were some of the thieves that