The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-04-30

OhRaAI W oTnU
out notices calling for an exchange Of
old stock for new. The notices are he.
ing printed and you should have one
shortly. You need not wait for the
official notice, however, but send your
old stock to the secretary. The stock
is being exchanged on the basis of
ten shares Of the new company for
one of the old, as the capitalization
has been increased proportionately.
F. l., Alameda, Cal.-Send your
BLACK Butte Consolidated stock for ex.
change, to the Registration Trust com,
pany of Goldfeld. Send by registered
letter or Wells-Fargo Express.
T. M. p, Pittsburg.-The oil fields Of
California are producing enormously,
some of the wells being gushers, flow.
ling many thousands of barrels per day.
The output of one of the wells we have
in mind being as great in dollars and
cents as the output of the Goldfeld Con
solidated, and practically no expense.
The oil area is not as great as Penn
~sylvania's oil fields, but the stratum is
much thicker, being from 100 feet up.
The oil is of good quality and com
mands a high price at the well. We
would advise against buying oil stocks
''sight unseen" as we would advise
against buying mining stocks without
thorough investigation. The excite.
ment in the oil fields has attracted the
buzzards of the promotion business, and
there are as many wildcats in Califor-
MIA oil as there ever was in Nevada
mining stocks. Still, the opportunities
, for investment in legitimate PROPOSE
tons are as great there as in any mine
or oil fields we know of, and enormous
money is being made.
/, T. P. L., Columbus, O.-You will find
something in this issue respecting the
9 condition and progress of the Grizzly
; Bear lease. We understand the reason
, for selling the entire block of treasury
stock to one person or syndicate rather
than to old stockholders was that the
offer made to stockholders was not sui
! fciently responded to, and that the
syndicate which finally did purchase
wanted the whole block. The stock
. could not nave fallen into better hands,
for it has furnished abundant means
2 and has the best of management in cor
troll. The lease has now the deepest
shaft in the entire district and has
: started to drift on. the vein and it is
generally believed that ore has been
encountered, but for reasons Of its own
! the management is not giving out any
E thing on this point for publication. The
> lease company got the most advantage
f Gus terms from the parent company
: when the new people became identified
with it. The stock is not listed an we
have heard of no curb transactions.
Will endeavor to get a line on the
market and inform you.
G. G., Philadelphia-An assessment
has been levied upon North Star anil
Rescue stock, the money received to
be used in paying off the debts against
the companies, with a view of resum-
ing operations in both mines. 1t is said
San Francisco men are back of the
proposed plan to reopen the mines.
L. c., New York-The Needles smell
ter, which a few months ago passed
into the control of the United States
Smelling & Refining company, has ar
ranged to enter the Goldield district
in active competition for the purchase
of ore, and the Tonopah & TidewaIer
railway will cooperate with it by max
ing a new freight rate, effective May
20. This schedule will be much lower
than the rates in force at present, ana
shows a stroag contrast with rates 10
Pacific Coast and Utah smelters. AS
an Illustration of the advantage ID
rates to be enjoyed by the river smelter
the following example is given; Inc
new rate from Goldfeld to Needles on
$50 ore will be $3.50. The present rare
for the same haul is $3.50 and the pres
emit rate on the same grade of ore 70
coast and Utah smelters is So.
I. H. N, Indianapolis-There are
several Nevada King mining companies
in Nevada, or mines called by that
name. The most prominent is ~ tne
Pueblo mining district, at the mort"
end of Pine Forest range, HrmDoi'
county. The company is capitalized u
100000 81 shares, and owns a group
of five claims and two millsites. IL mas
la 80 ton mill and all accessories OF a.
well equipped working property. oui