The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-08-09
NATIONAL LEASING
SELLING "A CENTS

! At around IA cents a share, Ma
tional Leasing stock, which is active
on the New York curb market, may
be described as a cents-per-share is
sue of the top-notch speculative class.
lie who buys for himself, say, $500
worth of National Leasing stock, and
gets the certificates into his posses
sion and holds them pending the COM
plete development of the property,
may wake up some bright morning
this autumn and find himself the pos
SCISSOR of shares in a $4,000, 900 gold
mine with the stock selling at as many
dollars per share as it is now selling
for cents. This is no day dream!
A few weeks ago the National Leas-
ing Company leased from the National
Mines Company its entire mine and
mill equipment, valued at 100000,
with a view to opening up National
Leasing Companys territory at depth.
The National Mines Company's work
ings were taken over during the past
week, as also all the mining supplies
of the National Mines Company, for
which a lump sum in cash was paid.
Consulting Engineer Arthur Feust,
representing the National Leasing
Company, carried out the transaction
ON the ground. Engineer Feust late
in the week wired from National 70
the New York Office of the National
Leasing Company as follows:
After a careful examination of
maps, surface and underground work
ings, | am satisfied that we have an
excellent chance of developing an ore
body somewhere between the level of
| the White Rock tunnel and the Sk)-
foot level of the National. My opinion
is based on the fact that the basalt, as
exposed on the 500-foot level of the
National mine, evidently clears the
vein in the Leasing Company's ground
at or about the level of the White
Rock tunnel, and / feel fairly certain
that below this point the basalt gives
way to the latte, which is present on
both walls wherever bonanza ore has
been encountered. My belief is fur
! ther strengthened by the lenses of ore
which occur, according to the National
maps, to the south of the bonanza ore
body AS the National Leasing Com
pany's line is annroached. by drifting
460 feet on the S00-foot level in the
National. we can enter our ground and
then begin to open up and explore the
block of ground between that level
and the White Rock tunnel, a vertical
distance of sos feet. and running about
the length of our claims. 1t looks
good to me-"
Under the direction of Engineer
Feust and Superintendent Elmer
Pfouts, work has already commenced
to develop the National Leasing Com
pany's holdings at depth. This oper-
alton will consist of the extension of
the eighth level of the National mine
into the National Leasing Company's
ground, adjoining on the south, under
the leasing arrangement between the
two companies.
1t will be noted that Engineer Feust,
in his telegram, states that it VIII
only be necessary to extend the eighth
level of the National mine AGO feet o
enter the Leasing Company's territory
at a vertical depth of about 1900 feet.
1t is calculated that this work can be
accomplished in four months time at
a cost of $4,000, including a monthly
rental of s2.500 for the use Of the
workings of the National mine. Had
the lease on the National mines work
ings not been perfected, it would have
been necessary for the National Leas-
ing Company to expend at least $780,
600 over a period of about one year
in the sinking of shaft from the sur
face of its own territory to reach the
depth that will be gained by the ex-
tension of the eighth level of the Ma
tional mine in one-third the time and
at a saving of about $4,000.
The further Importance of the ne
gotiation of the lease by the National
Leasing Company from the National
Mines Company will be realized when
one considers the great scarcity OF
machinery of all kinds, particularly
wire hoisting cables and electrical
euuipment which ii would have been
necessary to procure. Manufacturers
of such materials will at present give
no guarantee of delivery in less than
a year, while many will not even con-
slider orders for that delivery.
In accordance with the terms of the
lease, the entire equipment of the
National Mines Company, including a
ten-stamp mill. machine shops, bunk
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