The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-03-13

G. J. C., Pittsburg-A movement has
been started by share holders, ana tne
matter is in the hands of a Phlladeipnia
LAWYER. to collect, if possible, from the
directors of the Tonopah Belmont, the
amount of money involved in the SAFE
of new stock two years ago in June
At that time the company sold about
1856. 600 shares of treasury stock at 10
a share. Shareholders had the right 70
Inv il at that figure and a syndicate
was formed to take what the stock
holders did not. Previously Belmont
had sold at 81 and now it is about 10
cents a share. The contention OF the
people who have started this movement
TO collect is that the directors who IS
sued the treasury stock may be person
ally liable for the S46S,OO0 involved.
Some who were directors then are no
longer in the company. The idea is that
the company should get this money on
the theory that there was misrepresenta-
lions as to the condition of the property
when the new stock was sold.
T. M. p, Kansas City-The Phono-
lite Paymaster Mining company, whose
property is located near Phonolite, Ne
vada, has been working continually for
the last year. About 1000 feet OF tun-
mel and shaft work has been done. This
work has been lone at $40 per foot and
miners nave taken part pay in treasury
stock at % cents per share. 1--WE
wires have been sunk and a tunnel
run over 500 feet. Picked samples have
run as high as 173 ounces gold and "a
ounces silver, or IA total o. $3510.6l.
The Judgment of those working on the
property is that they will open up a
snoot of high grade ore in a very short
time. This does not seem to be "a stock
jobbing company, but they are making
"a still hunt to open the property on its
merits. One test shipment was made
to Hazen to the sampling works and
the result was very satisfactory.
+. B., Columbus, Owe would not
advise you to take a loss in Consolidat-
ed. The clipping you sent us is only one
of many unfavorable reports printed
IN papers ~untriendly to Goldfeld. Con-
iii the east and is traded in on the New
York market. This being so, it is SUD
ject to ali the professional stock job
bling schemes that cause other stocks to
fiuctuate up and down on the New
York market. You paid SO for the
stock and that is as much, probably, rs
it is worth at this time, but it is GER
tainly worth that and will be selling
for That or a higher price in time. Mean
While you will be getting good interest
ON your money for dividends will be
continued without doubt. If you com
pare the drop in Consolidated with that
of other high priced securities, railroad
ana industriais, on the New York mar
MT idtCiy yOu ~ oCC tudt ~ Il
more nan held its own.
T. J. F., Newark, N. J.-There has
always been much mystery about the
Bishop Creek Gold Mining company.
statements have been made in behalf
of the property that could not be sub
sta and promises made that have
not been fulfilled. The last promise by
PRESIDENT Wiltshire is that a mill will
be erected this spring. He says: "The
management has felt its way before de-
Gliding to erect the mill, first determin.
ing by tests the best method of ex-
traction. Several trial runs have been
made, trying different methods of ex-
traction to find out just which way was
the best suited to the ore. The proper
method has been decided on, and the
equipment has been ordered and will be
set up as soon as delivered at Bishop"
The property of the Bishop Creek G Id
company, located at Bishop, Inyo coun-
ty, California, has been worked during
the past two years. The main shaft is
down ESQ feet.
w. H., Stockton, Calif.-We would
take chances on buying the new stock
at the price named. The people back
of it are mine makers and will re-
suscitate the property in question if
given help. They already have many
thousands of dollars of their own money
in the property and stand ready to put
up more with other stockholders. (2)
The Manhattan Consolidated is being
worked by ~leasers, as is the Dexter, and
the stock will doubtless turn out all
right. (3) The financial difficulties of
the Vulture are being Strengthened out
and the property is to be worked.
H. w, New York-The Cotter Mines
company at Golden Arrow has about
1000 feet of the Page ledge and 5000
feet ON the Geneva ledge. The main
shaft was down 305 feet at last report.
A recent sampling of the mine showed
IN the neighborhood of $35O,O0O worth
of ore blocked put. The ore carries
gold only, and runs from $25 to $50
per ton. The vein at the bottom of the
shaft is II feet wide. The property IS
well equipped with all necessary min