The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-12-31
Mining Men Express Confidence

A lHtIt udo DcCH lol sum- tmS q SShSt"
a along the list of mining securities, and in some quarters the
4 = activity of the postal authorities in investigating various stock
aotations has caused much uneasiness, the mining men of San Fran
cisco are confdent. that mining in both California and Nevada is on
an upward turn, and that the year 1911 will be a banner year in the
point of conservative investment and extensive development.
Stock selling, as a means of raising money for mine development,
will be for some time under a great handicap and almost impossible,
according to the general concensus of opinion, yet the San Francisco
men believe that it is growing easier and easier to form combinations
of men of means who will take up promising properties and develop
them. One thing that causes this belief is the fact that during the
past few months several such associations have taken hold of proper
ties in California and Nevada, and that in many places inquiries are
being made for partially developed properties, with a view to their
development. The high-grade property, by the way, is not the one
that is being looked for at this time. Most of the men who are look
ing for mining investments are looking for properties in which some
low grade ore has been developed, and which give indications of be-
ing made into paying mines, with milling facilities.
Nevada, in particular, abounds in such ground, and the fact that
small mills are being builded in many parts of the state shows that
money is coming into Nevada for the development of low-grade
mines.
Herman zadig of San Francisco me- of the oldest and most in
fuential brokers in the western metropolis, is the head of a group or
men who believe that the assessment plan is the one which will solve
ultimately the proposition of raising funds for mine development.
Find a property that has possibilities, Y said Mr.. zadig to the writer
a few days ago, then organize a company with conservative capitaIi-
cation, place the stock on the assessment basis with a certain maxi
mum to the assessments, and it will be found that it will be easy to
find men who are willing to pay a certain amount per quarter for
mine development. Of course, they must be shown that the money is
being expended in the ground, and that the money is not being spent
for excessive administration costs
II feel that the present unsettled condition will soon be ended.
Nevada is a great mining state. Tonopah is showing that the Com
stock was not the only great silver mine in the state. | have just been
through the Belmont, and | firmly believe that it and it's neighboring
mines will eventually rival the Comstock.
"Goldfeld, in its Consolidated, has the greatest gold mne-the
greatest mine of any kind-in the world today. Florence Goldfeld
and Jumbo Extension should make equally great mines, acreage con-
sidered. I have every confidence that the Booth and Orc ground
covers great mines, and the Merger should also make a great proper
ty. Some of these days these properties will be developed, probably
with money raised on assessable stock, and when this ground is work
ed at depth Godfeld will experience an awakening that will be won
derful. Get one or two shafts down to 1000 feet depth out there TO
the east of the Consolidated Company holdings, do some extensive
lateral work, and / firmly believe that it will be e that the Gold
field district, like Tonopah, carries some of its greatest riches at great
The San Franciscans in general echoed the same sentiment-that
the production of Nevada mines is such that the investing public can
not help but notice, and with the knowledge that Nevada is but yet
virgin territory the public is going to take a strong hand in the lie
yelopment of the mineral zone of the state. The money needed for
exploration and development will not come through a frenzy of stock
buying, but along conservative lines, and after thorough study If
companies that are developing properties, and Of the possibilities of
these properties, which is the best way-the best kind Of investment
and guaranteeing the best kind of mining.