The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-10
MANY BIC DEALS
At GOLDFIELD
Eastern and Western Capital
Anxious TO Get Claims in
District.
NOTED ENGINEER IS
LOOKING CAMP OVER
Certainty That Rich Gold Ore
Goes TO Depth Secret of
New Interest.
Special TO The Tribune.

GOLDFIELD. New. Sept. a.-At no
tine IN the history of Goldheld has there
been a degree OF confidence in the camp S
resources and its future such as that
which now prevails among mining men
Rnd well Informed investors. That II is
n confidence amounting 10 conviction is
evidenced by the character and maGni-
tude OF work that has recently been or
IS about 10 be inauErrated at number
OF points outside of and away from what
has been known as the producing parts
OF the district and BY the tyne Of men
who have lately sought and who are now
seeking 10 acquire interests in the ois-
trict and TO identify themselves with
the projected operations in new and un-
developed territory.
The knowledge that high grade ore
has been exposed at q depth OF l2oO
tho incline of the veins, has had a
stimulating effect on mining In the, dis
trlct generally and Is responsible. In large
measure, for tho faith IN the distrlct
THAI is bolng manifested in a practical
manner by such men as former senator
". a Clark OF Montana, + NJ oBoraN)
Smith and other men Of wealth who
have rarely been at fault I'm their iudG-
ment OF mines. Development. even OF the
most perfunctory kind, has demonstrated
that the district is highly mineralized
over q wide area the surface indications
At a great many points being equal. in
point OF sampllnC results. 10 those where
the richest DTOQQClnR mines ndNt b'fB
opened. Deeper DEVELOPMENT has served
10 effectually dispel the fear. entertained
by many al first. that the enrichment
was superficial
Wealthy Men Interested.
II is known positively that negotiations
are now being completed in the interest
OF wealthy investors. both in the east
and west looking TO their acquisition or
the control of several companies IN the
district that are among the better known
md xtf'Nn hl
undergone only O limited amount OF de-
velopment. In the majority OF cases
these transactions II carried 10 sue
cessful Issue. would involve the stock
control OF the companies In question
while In one or two cases the result
would be a reorEanization or consoll-
dalton with some other property. az
fordlnE an opportunity 10 raise funds
for development by the sale OF stock. The
companies that were Incorporated upon
the nonassessable stock basis have been
and there has been a growing senti-
ment in favor OF the assossable stock
plan. advocated long and strenuously BY
Herman zadig OF San Francisco. who
is now in Goldneid
Mr.. ZadIg has preached the assessable
stock company doctrine In and out Of
has a large following. and he has demon
strated the practical success OF the sys
TEN In the cases OF the Mexican company
at Virginia City. on the Comstock and
the Rescue -Eula at Tonopsh. Three
Goldheld companies the Conoueror Con-
solidated. the Sandsiorm- Kendall Con-
solidated and, the Diamondheld Black
Butte Consolidated have been reorRanized
upon this plan Nonassessable compa-
Eies have been prevented in many cases
from reorganizing In this manner by rea
son OF their foreign charters specifying.
as in most cases. that the stock Is. and
shall forever remain fully paid and non-
assessable." but this difficulty has in
cases been overcome BY forming a merger
with another property. surrenderIng the
charter or dlssolving the corporation, or
else by permitting the property TO be
sold for indebtedness. securing a shcrffs
deed and transferring it 10 the new cor
porauon.
Engineer Spur There.
Partly as n result or and certainly
stimulated largely by. the advent into
this district OF Senator Clark and his
ing demand for property. or an interest
IN property. OF potential mineral value
IL has been no secret that the engineer
who examined and reported OH the dis
tTict for Senator Clark. and upon whose
professional advice the Clark interests
have acquired large holdings here. IS ]
=. Spur. formerly chief field engineer Of
the United States geological survey and
one OF the foremost men In HIS profession
IN the country. This fact alone would
have been sufficient 20 attract wide
spread attention and renewed interest
70 the district II not almost unlimited
capital for development
Among the properties now involved Ia
negotiations that may result in their be -
Ing developed on an elaborate. mine
making scale arc the Goldneld Kcwanos,
Atlanta. Lone Star. Blue Bull Common
wealth. Black Butte Consolidated and
Godneld Ncrnal. The last named Is al :
ready financed for extensive development
by wealthy Philadelphia men, who have
acquired control Of the company: the
movement In Black Butte stock indicates
that The negotiations are progressing fav-
orahly; tho development work for the
Merger Mines Is practically mapped out,
as is also that on the Goldheld Belmont,
which Il now producing high grade ore
and developing its territory.
Details Of these projected deals are not
yet available, but should be within the
next thirty DAYS At most In the case
of The Lone star which has the iarses,
territory. next 10 the Consolidated. I'm the
district. n Is possible that this company
may DC absorbed by the GolddeId Dcep
Mines company. tho $40. 000. 600 corpora
ton that has taken over control OF the
Merger Mines company. The Lone Star
adjoins The Merger ground on tho cast
some OF the best veins OF the Merger
Some eNceedinsly rich cre has been taken
from tho surface work on the Lone Star
Deep Mines Plans.
The date Tor the meeting of directors
OF the Godheld Deep Mines company
and the Golddeld Merger Mines company
has been postponed for short time bat
u Is announced that meetings will be
held here within n week OF ton days al
most. when the dnal details OF the com
pany's plans Tor extensive develoDueni
on Merger ground viii be announced. The
aTsi work VIII be the sinking uf the four
compartment. 2nO0-foot shaft and IL now
appears likely that the comreny's enGi-
neers VIII decide TO enlarge and sink ths
Old company shaft. already down over
500 feet and on the blooushne claim. NJ
has been announced a. mai BY officials
OF the companies that the new ehsf,
would be on the Moonshinc claim. which
- near the center OF the property hut
IN the event - A new shaft being sunk
litflc advantage could be gained unless IA
were the intention to connect at depth
With the old shaft for ventilation and IL
begin the work Of development from the
old shaft while sinking the new
Engineers In the employ az The com,