The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-11-19
Homestake's Close Margin

HILE the general mining public, so-called, has very little f.
M nancial interest in the property of the Homestake Mining
w Co, except perhaps one of curiosity, still the annual report
of this organization recently submitted contains the statement that
there is enough r unbroken in the mine to supply its 1000 stamps for
a period of twenty years. For a gold mine, this is looking a long time
ahead, but the Homestake has always been recognized as n of the
big gold mines of the world, and if the statement is correct that they
have the reserves that they speak OF, it will surely have a long life
ahead Of it.
The Homestake report is always interesting from the standpoint
of the professional operator because of the really remarkable earn
ings and costs that this company shows in its annual budget The
statement about the earnings this year shows that the company hall
died about 1,s24,OOO tons of ore which yielded a profit Of rs cents per
ton. The average assay of the ore amounted to 1858 per ton. Total
earnings came up to ~$5,296,623, and $3,55203O was spent in opera
ton. Dividends amounting to $98280O were paid.
After reading this statement one cannot blame anxious promot
es when they compare their properties to the Homestake. Unortt
|nately their comparisons are usually of a kind in which hope figures
largely. People nowadays have cotton used to this sort of compar'
son and pay little attention to them, and the sole result of those Ell
forts are to advertise the Homestake. Any mine that can treat 1858
ore and make a profit of 76 cents per ton deserves all the advertising
it can ever get. The results often have been a goal for operators
to look forward to, reasoning along the lines that if the Homeshks
does it. they can do it also. The great difference, however, lies IN TN
fact that the Homestake is unique in many respects.
i The record of the mine during the past few years has been hm'
by the internal labor strifes, and while this is unfortunate, it is PROD
ably due to the extremely low assays Of the ore which cannot enable
the management to employ high-class labor. The Homestake Wn
COHtdIue III III IutuTc d IL q III III past - u = d StohS nmN-
favor of the operation of low grade properties which are most us
couraging because of the poor values of their ores, but which manage
to make up this deficiency by the quality of the ore handled
Governor Harmon for the senate? He ought not to consider ''
suggestion for a moment. His duty, not only to the people Of on0
but to his own personal fortunes, calls for his services at Columbus
So far as the presidency is concerned, the senate is a hoodoo. A1
Governor Harmon wants to be president. There is no mistake ap0"
that. His success on November s is certain to send his boom along =
handsome style, and make him one of the most interesting men III ="
party. How could a seat in the senate prove for him a stepping s'n'
to the White House?
The Expostor says with fine perception: Los Angess
to 100000 population. A great part of the increase u 81 r m
cent since 1900 is due to the mines of southern Nevada
never be mentioned by Los Angeles, however"
The morning paper calls attention to the lower price o. me'S =. :
past few days in eastern markets. Can there be any onnec'on
tween this fact and the election of a Democratic congress-
Fighting against a medical trust, the National League oi !"
Freedom fights in a sacred cause. AS well have a state religion :"
school of medicine.
Small blame should attach to Bryan for flying to Texas
started party fires in Nebraska that wont burn out IN MI
withdrawal did not render the New York Democracy hopeieS'