The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-11-03
JUMBO Elk. ISSUES
CONTINUED from Page One)

sion Mining company shareholder
free of initial cost. as represent
ing his equity in the Copper
Mountain proposition.
The issued stock of the Jumbo
Extension Mining company is l.
$4,000 shares; as the Copper
Mountain company will have p
100000 shares, there will be re-
naming in the treasury after the
stock dividend, $4,000 shares,
available for sale for treasury
purposes. should conditions and
demands warrant. But as market
conditions during these trying
times are very uncertain, and the
sale of treasury stock, therefore,
not to be depended upon, it has
been deemed prudent to make the
shares assessable, as the only
sure reliance for continuous OPP
erations. The assessments will be
made as few and as light as pos
sible, and many assessments need
not be anticipated, as it is ex-
pected before long that the prop
erty will be upon a self-sustain-
ing basis.
Mr.. J. K. Turner, consulting en-
gineer, states that the Copper
Mountain property is now ready
for a moderate sized concentrat-
ing plant. There is an abundance
of good grade milling ore devel-
oped, and with the installation of
a concentrating plant the property
should take care of itself without
assessments. There is also ship
ping-grade ore. but with a mill on
the ground in the near future, and
the large saving effected in heavy
hauling, shipping and treatment
charges, it is prudent to retain all
excent high-grade ore for local
treatment.
Lease No. 1, or the Lappat-Mil-
Ter lease. which has shipped over
$4,000 worth Of ore, has been
purchased and will become an as
set of the new company. The ore
exposed in this and other work
ings will occupy the full time or a
moderate sized mill, at a profit.
The initial mill expenditure need
not be great, the intention being
to enlarge mill as DEVELOPMENTS
Justify. The installation of a mill
will engage the attention of the
management in the immediate flu
ture, so that the property be put
upon a self-sustaining basis as
soon as possible.
Upon the execution of the plan
as outlined. Jumbo Extension
stockholders will have shares In
two going concerns, and chances
for profitable returns upon the'r
original investment doubled. For
a few cents in assessments II
stock of the Jumbo Copper Noun
tain Mining company is likely TO
O quite valuable, while N
stock of the Jumbo Extension
Mining company has a promising
future, having shown decloeo
strength Of late.
In this connection it might be
said that the vendors of the Cop
per Mountain property have agreed
to take $4,000 worth of the new
Jumbo Copper Mountain Mining
company stock at 25 cents per
share, as a part of the purchase
price.
The stock of the Jumbo Cop
per Mountain Mining company
will be listed and we predict an
active market at a good price.
Should it be decided at any time
IN offer stock for sale,
preferential rights VIII be given
stockholders.
The plans for handling the Cop
per Mountain property through a
distinct corporation have been sub
mitted to many stockholders n
meet with their unanimous APP
prevail. However, an expression is
invited from all stockholders,
which will be given due consider
alton before final steps are taken
to put the plans into effect.
]. X. Turner, consulting engineer
for the Jumbo Extension company
and under whose personal direction
operations on the Copper Noun
tain property have been conducted,
las prepared the following statement,
which accompanies the letter OF
Sprague:
Development on the Copper