The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-08-22
OUTPUT OF GOLD
SHOWS INCREASE
MANAGER WESTERN ORE PUR-
CHASING co. TELLS OF BET
TER OUTLOOK

There is no change in the silver
market situation during the past few
days, the purchase of 1,175,00O ounc-
es of silver bullion at So cents per
ounce by the government on We'd
nesday being the last notable &C.
tion,' said Frank Manson, manager
of the Western Ore Purchasing COM
pany, to the Reno journal. THE
shelters anticipate further purchas-
es at intervals of about a week. how
ever, as a means of sustaining the
mining interests in the face of condi-
lions which have been brought about
by the European war. AS these pur-
chases are pro rated among about ten
smelters it does not make a very
big market for any of them, but 1t
relieves the situation sufficiently to
help the mines tide over the strin-
gency.
"Smelters are attempting to have
the silver producers keep their out
put down to the lowest workable
margin. and the mining men are
showing a disposition to cooperate
with this plan.
Larger Gold Output
by a peculiar coincidence which
We are not yet fully able to explain,
there has been a large increase ap-
parent in the output of gold ores that
have been shipped to the smelters
during the last ten days. This in
creased output zones from various
camps in Nevada and is quite notice
able. indicating that there are a
number of small properties that have
been gradually developing and have
now reached the producing stage.
From the Bullfrog country. south
of Goldfeld. there has been a strong
revival of shipments. and the gen.
eral increase from other points indi-
Gates a very satisfactory condition of
gold mining as an Offset to the pres
ent embarrassment of the silver
mines.
81 look for an upward trend in
mining investments within a short
time" continued Mr.. Manson. ut
has been an analogy at various per-
iods of hard times and financial de-
preston that eastern people turn
their attention from industrials and
the ordinary business and
put more or less of their idle money
into mining investments.
Why Some Men Lose
Sometimes they lose simply be-
cause they close their eyes and go
into the mining game blindly, with
out attempting to exercise the eau
mess affairs. but If they plunged into
an unsound investment in something
besides mining. they would I'M
doubtedly lose as quickly and thor
oughly there as they would in an I'M
sound mining venture.
Hard times seem to awaken the
latent gambling or speculation spirit.
I do not, however, consider the min
ing business any more Of a gamble
than any other business. Like the
European war, which burst upon the
world so Unexpectedly, no n a
foresee future events or revolution
izing conditions in ordinary business
any more than he can see G foot into
ground beyond the point of actual
development work, but at the same
time there are geological earmarks
about a mining property that give to
the trained mining men something
even more substantial to base conclu-
sions upon than can usually be found
to guide investors in other lines.
Mining as a Business
"Although many men go into the
mining game purely as a gamble, be-
cause they know nothing whatever
about the business. and put in their
money in that spirit, there is no more
logical reason for viewing the mining
industry in that spirit than there
would be in any other investment
which might be brought to their at
tention. Intelligent investigation
and direction is as necessary to min
ing success as elsewhere, and the
chance for profits is as great or great
err in mining under these conditions
as any line of business / know of
"As l said before, / am quite conf
dent that one of the results of the
European war which will be felt in
the near future will be a strong
tendency on the part of eastern peo-
pie to turn to mining investments,
and Nevada will receive her full share
of the renewed interest in mining.
Regardless of the present somewhat
stringent conditions of the silver
market. which at the worst can be
only temporary, l believe that the
mining outlook in Nevada is thor
oughly hopeful and encouraging"