Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1910-12-31

In our last weeks issue THE TIMES
called attention to the showing on the
property of the Empire Nevada Mining
and Smelling Company-a property
which heretofore has had very little pub
| icitv.
| 1t was not generally known that the
Empire Nevada was such an exception
| ally fine prospect, but the following ar
ticle from the New York Mining Age
proves that some big guns in the mining
game have had their eyes on it and that
| i'll all probability it will soon be the
scene of vigorous development
George Wingfield has a large follow
ing, both i'll Nevada and the east, who
always watch for his lead. Heretofore
he has taken little. if any, interest in the
Yerington district and the advertising
value of his advent into the district is of
itself worth considerable. The men
back of the Greenwater Company also
have good following. The article fol-
lows:
After having had about SO properties
examined in their behalf, the directors
of the Greenwater Copper Mines &
Smelters Co. have about decided where
they are going to use a portion of the
s225, 600 cash which the Greenwater Co.
still holds in its treasury, the larger por-
ton of it, as has been recently stated,
being invested i'll high grade railroad
bonds, which are yielding am income of
about 50, 600 per year. The revenue de-
rived from this money has been sufficient
to pay the incidental expenses of the
company The largest portion of this
fund.- which has been lying intact i'll the
treasury of the Greenwater Co., has been
the envy of good many other organi-
zations, and it has also kept the stock of
the company floating between and l5c
per share, largely on the realization that
should this money ever be distributed,
it would mean at least 7c pro rata for
every share of stock outstanding.
For over a year, however, this fund has
lain dormant, and while the directors
have had about 50 properties examined,
both i'll Canada and the United States,
none appealed to them sufficiently to en-
ter into any negotiations for the pur-
chase of the land This week, however,
the preliminary details of a deal were
clinched, and if the checking up, which
|
is TO be made of the property they have
under consideration comes up to the ex-
pectations of its value which have been
concluded
The proposition as it stands now calls
for their securing a half interest in the
property of the Empire Nevada Copper
Co. at Yerington, the most interesting
phase of the deal being that if they de-
eide to buy an interest i'll the property,
George Wing6eld, the Nevada mining
magnate, will put up $50 900 as his half
interest in the further development oi
the property, provided the Greenwater
Co. puts up $50, 900 as its share of the
development campaign. This will put
500, 900 i'll the treasury of the Empire
Copper Co., and it is believed that suf.
ficient exploration work could be under
taken with this money to give the direc.
tors good chance to decide, when that
time has elapsed, if they desire to con,
tinue negotiations for the purchase o.
the mine upon the agreed terms.
The importance of the proposition
seems to be that Wingheld will put in a.
much money as the Greenwater peopl,
put in. The matter now stands practc
ally closed depending entirely upon
checking up of the preliminary showing
which is reported as being i'll evidenc,
on its ground in Yerington 1t is inter
esting to figure out that if the deal goe
through the Greenwater Copper Mine
& Smelters Co, will still have over sl75,
600 cash i'll its treasury, with which
great deal could be done subsequently il
the financing of this new copper PROPOSE
ton.
Aside from the fact that this is of i'm
portance to the Greenwater stockhold
ers, it is also of special importance to tn
| Xeriuptou district as fhR Creauwate q