The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-08-22
SAYS GOLDF|tLDLOOKS GOOD
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M. d. Kelly of Muncie, Indiana;
New York and Chicago capitalists
and myself are acquiring possession
of a placer property which. in my
opinion, is the largest proposition Of
the kind in the world, with the pos
sible exception of Eldorado and
Bonanza creeks of the Klondike.
The Guatemala proposition is a ST.
000,0 200 deal and is known as the
Las Quebradas placer property 1t
is thirty-five miles from Puerto Bar
rios on the Atlantic coast, and lies
along and contiguous to the Robos
river. The United Fruit company is
building a branch railroad from
Morelos, on the Guatemala Central
railroad, to it's banana lands that
will operate across the property. 1t
will be necessary to haul machinery
used in the operation of the prop
erty a distance of only half a mile.
1.-The property consists of a tract
of 10000 acres of land, 5000 acres
of which are gold-bearing, the re-
mainder being thickly covered with
fine timber, including mahogany
and rosewood. Although the pres
ent war in Europe may cause a
postponement in the inauguration of
dredging operations, it will not af-
feet the transfer of the land. While
at the property I thoroughly pros
pected 5000 acres of the gold-bear-
ing ground with Keystone drills,
employing a force of miners number
ing as high as twenty-five at times.
The estimates of myself and other
engineers who have examined 1t,
based upon results obtained from
the boring, place the value of the
probable output at $160,00O,0OO.
The property will be equipped with
dredges and other machinery in a
manner to insure a production of
100000 net annually. The area
%prospected with the drills averages
over forty cents a cubic yard, and
it is %forty-fve feet to bedrock
Working in a crude manner, the for
mer owners of the property took out
100000 from less than nineteen
acres, the area thus far worked.
The river which flows through the
ground is capable of generating 49,
900 horsepower within the confines
of the tract.
Is Great Country
Guatemala, with a population of
100000 and comprising $4,000
square miles, is a great country. 1t
has a large area of good agricultural
and timber lands and is possessed
of a promising future. The city of
Guatemala, at an altitude. of 1890
feet, has the finest climate in the
world and a population of 100000.
While away I also visited Honduras.
Nicaragua and Panama, in which
countries during the last two and a
half years I have ridden over 100
miles on muleback."
Asked as to the Panama canal,
Mi. Ferguson said:
II spent about two weeks along
the canal and on two occasions hik-
ed for a distance of twenty miles
through the waterway to inspect the
machinery and observe it's opera
ton. The canal is without question
the greatest piece of engineering
work ever undertaken and it's sue
cessful completion will be through
all future ages a monument to
American ingenuity. The operation
of the machinery of the canal has
amazed the engineering world. En-
gineers from all parts Of the world
have visited the canal and have been
astounded by the difficulties that
have been overcome in it's construc-
ton"
Speaking of Mexico, with the min
ing industry of which he has been
identified for about twenty-five
years, Mr.. Ferguson observed:
THE success of the constitution
alists, under Carranza. will not re,
store peace in the country. Not in
800 years has the country, In it's en-
tirety, enjoyed peace, and it will not
until the United States takes hold
of it.. In building the Panama ca
nal, the United States obligated
itself to absolutely maintain peace
between the Rio Grande on the
north and the canal on the south.
We have not been making good, due
to the weakened policy of the pres
ent administration at Washington.
but it is very likely that we will
have to live up to Il aims in this
respect if we desire to see peace
prevail in Mexico. l believe we
should own all land as far south as
the Panama canal. the acnniSiti0n of