The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-06-16
Parish Will RE-
sumo EXAMINATION


dent for the National Leasing Com
pany, have been In town for several
days this week. The latter left this
afternoon for Rochester and will re-
turn tomorrow evening. Monday morn
ing the two officials will leave for
National, where they will resume their
work of making a thorough examina-
tion of the property.
This weeks issue of George Gra-
ham Rice's Industrial G Mining Age
has the following to say regarding
conditions at the property:
Active work on the National Leas-
| ing Company's ground has begun.
Consulting Engineer Parish and Mine
| Superintendent Pfouts arrived on the
property at National, Nevada. during
the week. They are conducting a
reconnaissance and geological exami-
nation prior to the beginning of mine
operations. An exclusive dispatch
from Winnemucca, Nevada, to the In
dustrial and Mining Age during the
| week said:
Examination of the National Leas-
ing property by George E. Parish, the
company's consulting engineer, as
sisted by Elmer Pfouts, the recently
appointed mine superintendent, has
been progressing rapidly, although
the field work has been slightly re-
tarded by the lack of available under
ground maps and surveys. Investigs-
ton is being made of tunnel rights,
equipment and supplies, preparatory
to starting operations. 1t is expected
that the development campaign to be
recommended and the equipment re-
quired will be determined within a
week or ten days at the outside"
The prize to be won in the event of
success is so large that a minute
study of the formation is absolutely
essential prior to the initiation of de-
velopment work, in order to reach the
points most favorable for the finding
of ore in the least possible time. With
| this consideration in view, Messrs.
Parish and Pfouts are busily engaged
| in geologizing the property, with the
view to developing at the point which
! OhCio tuC DCOL CudACG vi dJ1
ore body in the least amount of time.
Considerable development work has
already been done on the ground of
the ground of the Charleston Hill
Gold Mining Company's property
which is under lease to the National
Leasing Company. This, however,
thus far has failed to eliminate any
portion of the Company's holdings as
being barren, the different leasers
having in every case failed to reach
their goal through lack of funds. Con-
sidering that the company has a three
years lease, with the privilege of ex-
tension for two more years, which
time history has proven to be practi-
cally the life of every high-grade gold
mine. such as the National lease, the
time available for the mining of ore
in the event of success assures a COM
plete extraction of any bonanza that
may be found The terms of the lease
state that should any time be lost
through accident, labor strikes or
| financial moratoriums, such time Is TO
be added to the duration of the lease.
With ample finances with which to
| carry on an extensive campaign of
| development, known vein, and the
best mining talent available with
which to prosecute the work. the sue
cess of this enterprise, which is just
| getting under way. seems assured
Once the miners begin drilling
through the rock. guided by this tai
ent, results of a sensational charac-
ter may be looked for with almost any
round of shots.
In the event of success, an idea as
to the possibilities of the stock may
be cleaned from the market history of
| the National Mines Company's shares
Originally peddled around Winnie
mucca and Reno, Nevada. at ten cents.
at which price the stock went beg
ging, the same shares sold as high as
s26 in the heydey of the extraction of
the National Mines Company's boz
nanza, which the United States Geo
logical Survey credits with a produc-
ton of more than $6,000.000. but
which, according to reliable sources
of information. has probably pro-
duced twice as much, the balance
having been stolen by high-graders.
The richness of the ore is almost
inconceivable. On any news of the
encountering of bonanza ore, National
Leasing stock. which was quoted at
sixteen cents share in the curb mar
ket at the close of the week, may
easily duplicate the market history of
it's famous neighbor.
The National Leasing Company has
an authorized capitalization of 2.O00.-
900 shares of a par value of 81, jf
which 100000 shares are in the
treasury of the company, to be issued
to provide funds for the development
and equipment of the ground leased
from the Charleston Hill Gold Mining
Company. The authorized capitaliza-
f;ox, 0f fha IaucOr tho ChariacfOn Hill