The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-10-11
NATIONAL LEASING
STOCK SLUMPS OFF

SALT LAKE CITY, October 10
Arthur Feust, consulting engineer for
the National Leasing company, upon
arrival here today from the COM
pany's property at National, New,
said:
In the extension of the fifth level
OF the National mine toward our
property we have opened up 21b feet
OF quartz identical with that accom-
panying the bonanza orebodies of the
National mine, adjoining the National
Leasing company territory on the
north. The vein is heavily minera-
ilzed and gives promise of developing
an orebody any day. We still have to
drift l25 feet to reach our line. 1
consider the showing highly prom
1s1ng and believe we have an excel
lent chance of developing bonanza
ore."
National Leasing shares went down
in the curb market during the week
from IL cents to 10 cents. Interest in
the issue appeared to wane. 1t is
naturally to be expected. however
that news of the character which is
contained in the dispatch giving En-
gineer Feust's views as to deyelop-
ment VIII cause renewal of interest
and a sharp rise in the price of the
stock, says Rice's Industrial and Min
ing Age. Readers of this paper will
recall that old Emma Leasing stock
which was sponsored by the same in
terests as National Leasing. sold nm
from 10 cents to 19 cents in the early
period of mine development and then
reacted to 10 cents, only to register a
sensational advance in a few days to
S5 cents on news of actual ore dis
closure. The report from the prom
erty that the heading of the drift
which is being sent along the vein
from the fifth level of the adjacent
National mine is revealing conditions
that give promise of the utmost i'm
portance. is calculated to crystallize
interest in the stock.
National Leasing company has un-
dertaken to develop the property of
the Charleston Hill Gold Mining COM
pany, which lies adjacent to the
claims constituting the National mine
at National, Nevada, from which the
highest grade gold ore in the history
OF American mining has been taken
out in the last nine years, to the ex-
tent of probably more than 10000
600. When it is considered that pure
gold is worth only $21 an ounce. the
richness of National ore. many tons
OF which averaged from $40 to $50
pound in value, can be easily grasped.
Ore worth $S5 pound would contain
more than IS worth of pure gold To
the ounce, or nearly 25 per cent. and
values like $4,000 a ton and SI62
600 ton apear in the records of pro-
duction from the National mine. The
same vein from which these enormous
values have been taken is known to
penetrate at least 700 feet into Ma
tional Leasing ground This has been
judicially determined as a result of
testimony given by the most compe-
tent geologists and mining experts in
legal proceedings at Carson City, Ne
vada, in 1912.
Geological predetermination of gold
values in the unexplored parts of the
vein is not possible, as is the case with
silver and copper deposits. Gold is
where you find it," is an axiom of the
mining industry. 1t is this elusive
ness and the impossibility of pred.,-
termining its presence that gives gold
its value as compared with other
metals. 1t is, nevertheless, true that
the most probable place to look for
gold is the place where gold has al
ready been found For this reason the
speculative possibilities inherent in
the National Leasing company's ven
lures are enormous. The opening up
in National Leasing ground of a sin
gle oreshoot such as produced the
famous National high-grade ore
would mean tremendous ps6fits and
give the stock value of many dol
lars per share.