The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-06-11

we would recommend that great eau
tion be taken in placing investments
in California oil stocks. The oil fields
of California are prodigiously produc-
tive, it is true, but that is one reason
for keeping out. The production is too
heavy for the demand. One well IS
flowing 10000 barrels per day, and
there are dozens that are flowing from
1000 to 5000 barrels. The product is
taken by the pipe line companies, and
this is the only way to reach n mar
ket. The pipe line companies natural
ly buy only so much as they want in
order to regulate prices, and there are
scores of wells that are forced to store
their product in open pools for lack of
a market. Many of the wells are not
flowing wells but have to be pumped;
and they are compelled to keep in op-
Grafton whether there is a market for
their oil or not, as the wells cave III
and fill up if not kept in operation. As
a result there are many wells in the
California district producing a profit
able amount of oil, that are q constant
drain on their operators, and the sup
ply cannot be limited. For this reason,
oil has fallen in price and oil stocks
are down proportionately. The time
will come, doubtless, when the increas-
ed uses of oil will absorb this produc-
ton, but for the time-until fall, at
least-the best oil stocks are not a good
buy; while there are hundreds of wild
cat stocks on the market that Will
never be worth anything.
J. R., Santa Rosa, Cal.-Our infor-
nation is hat the secretary OF the
Manhattan Consolidated Mining COM
pany is C. C. Boak, Tonopah, Nevada.
G. T., GAINESVILLE, Ohio.-There is
nothing doing on the old kalntucS
of Goldfeld. The property is
fairly we'll located and last year was
worked some, but no serious mining
has been done on the ground for quite
a while. G. S. johnson & Co., who were
operating and managing the property,
are now in the Phelan building, San
Francisco. Write them for fuller par
ticulars. (2) We do not believe that
much was ever done on the Desert
Wonder property at Wonder, Nevada
In fact not a great deal is going on in
that camp. The camp started out well
but the panic overlook it and 1t has
never recovered. The big mine of the
camp is in operation and now has a
mill.
J. H. B.. Brague, Neb.-In addition TO
What we said in a recent issue OF Inc
News about the ground of the n
storm Annex Gold Mining company, we
might say that while the ground IS IN
detached fractions or claims, IL Il ex-
cellently located and the different
properties have the following acreage:
Tie Last Dollar, adjoining the Desert
Rose and thu Goldfeld Consolidated
mill. has 10 acres, or practically a tpli
claim; the Rubie has about eight acres
aud the Rex nearly three acres: Inc
Last Dollar AMI the Rex has receivers
receipt for patent and the Rubie Is
through advertising Tor parent ano az
adv.rses settled. The company there
fore, has good ground, well located ana
with u~ndispute1 titles.
L. T., Birmingham, Ala.-judging
fro,c the character o. ore beng Sent
out by the Nevada Hills, the new
strike is one of great consequence Last
week the company marketed a splendid
car of ore, much if not all of the rock
coming from the new strike on the 40
level The car contained 43.9 tons OF
ore, the assay value being 81 ounces
gold and 1884 ounces silver to me
ton. and the price brought the com
pany, smelter net, was siioS.9S' IL IS
expected that as the management con
tinues to open the new rich ore at
depth many such shipments VIII be
made of rock extracted in the regular
course of development.
T. M. R., Denver-The management
of the Moscow Mining and Milling
company is now engaged in drifting on
the 3OO-foot level for the ore body al
ready opened up on the 400-foot Level
to such splendid advantage. A raise
has proceeded on the ore to "A point
well within the third level zone, so
connections in ore soon are practically
certain. On the 400-foot Level thls
fine ore body has been drifted on Tor