The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-03-27
7. M. o'G., Duluth-we have 81,

ing company, in light of the letter =,
the fiscal agents, A. l.. Wisner d On
New York. Naturally these promoto,.
were indignant that this paper shoua
presume to make a report on their pro,
critics and refer to ali mining pan...
in contemptuous tones. We have II.
following from our representative i
Manhattan and you can rely upon !,
as the truth rs we have no desire q,
reason to utter anything but the TINT.
about any mining proposition. In n.
Spouse to our request to investica,.
the actual facts in regard to the pron
erty, our representative says: "Ip ,
general way / am familiar with Ii.
properties inquired about and my m.
Outstanding is as follows: The Georp
group consists of five claims on wbieb
application for patent has been made
b. l.. Wheeler, a government mining
expert connected with the forestry ser.
vice came here to examine the ground
6NNuuQ
as to work, etc. His report, according
to Mr.. Steele, a ranger, approved three
of the five claims and turned down thu
two that lie along or in the main
Manhattan gulch. These claims tina,
were turned down were relocated BY A
T. Pollott and Chas. Humphrey, and
these men are doing placer work on
the claims, and according to state.
ments made to me by Mr.. Pollott, thew
have excellent placer values. From
other sources / also am informed that
, this particular ground is rich placer
ground. From Mr.. Steele l also learn
. that two of the claims, he did not know
the names, owned by the same people
in other parts of the camp were turned
down for patent. Mr.. Steele said they
owned five other claims on which they
had applied for patent, viz: Iron King,
Iron Queen, Cowboy and Eldorado No.
l and No. 2, two of which were turned
down as to work by the mining expert
/ am convinced that the placer ground
being worked by Pollott and Humphrey
is very good, although l can give you
no more definite information re.
garding it"
w. j. T., Fair Oaks, Calif.-We re.
gard the price of Pittsburg Ely entire.
ly too high. The company is capital
lied at 1,00O,0 900 shares, par value S,
or S 5000, 900. A million shares at 50
cents per share or $4,000 is entirely
too much for a prospect without ore.
The ground may be good, but that has
to be determined; it is not so located
, as to warrant any such price. 1t is
, noticeable that the company offers plen.
ty of time to pay the price of the
stock, having adopted the installment
plan. This is a bait. 1t makes it
easier but not cheaper in the long run.
There is no undeveloped ground in the
country worth a half million dollars,
as a pure mining proposition, nor half
that. Don't pay 25 cents for the stock.
, We understand from you that you can
get some at that price, although the
, company is offering it at SO cents.
Bear in mind it takes an enormous
amount of money to make a copper
/, mine, and be sure the company is well
financed before buying. Better pay
more and buy into a producer. u
. There is a good paper at Ely called the
Expositor. See ad in this paper. ~
: Wouldn't advise anyone coming TO
Goldfeld at present in search of WORK
unless he has enough money to live on
for a time until he becomes acquainted
7 with the mining situation.
A. M. E., San Francisco, Calif.-Ths
Austin Manhattan company has under
taken a monster of a proposition ana
will be several years, probably, WORK
ing it out. This company has recently
acquired 81 claims, all patented, which
include nearly all the old producers OF
the Austin district. There is q 6Ow
foot tunnel, among other workings, tha
has to be cleaned out and timbered f@
: 1000 feet. A very deep shaft bias "
be unwatered and retimbered and 1s
entire property overhauled and equip
ped with machinery. There IS an 0a
9 mill that will have to be rehabilita1ea
and a big electric power plant Dull.
9 The scheme involves a large amount u
money. We do not know the capisar
cation of the company, but suppose W
a proposition Of this size it is iaSe
We are not favorable to paying . ns'
prices for non-producing stocks. 0es'l
| ty-fve cents ought to buy a neard'f
dend paying stock, and we do not !.
derstand that the Austin Manhattan :
, within years of that state, although
one is content to leave his money 'N
> for years, he may make a profit even
IS cents per share.
r G. ". T., st. Johns. Nfld.-TheN
ports you send us are of the hor'u
scription usually sent out by p~ron0'T,
but the statements are substsn'"4
c~Srrect as IN botb Daiav Lease compsH