The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1918-01-03
NATIONAL LEASING
CONTINUES HUNT

Excellent progress was reported by
Superintendent Elmer Pfouts, by tele.
graph, to the companys Offices in New
York during the week, from the com.
pany's mine in National, New Drift.
| ing continues ON the National veir
and a large amount of lively-lookine
quartz which shows under assay small
values in gold is being encountered.
1t was the history of the National
vein in National Mines Company
ground that for long stretches the
vein would show little or no values in
gold. and then without warning a
large quantity of ore values at dollars
per ton would be opened up. 1t was
exactly the kind of development which
Is now In progress on the National
vein in National Leasing Company
ground, which resulted in the discov-
cry in the adjoining property of sufIi-
cient quantities of the rich stuff to
roll up a production estimated at ST.
900 900.
National Leasing stock was quiet on
the curb market during the week, en-
joying final at six cents share.
This is close TO the record low. the
range having been between five cents
and thirty cents. Ii is a remarkable
fact that the entire issued capitaliza-
tion OF the company of less than ST.
! 500.0 900 face value of shares is selling
at less than the estimated cost of
development covering a period of fif-
teen months. This is one of the anom-
allies of the stock market which can
not be explained, but which usually
rights itself and causes heartburn
ings later on when success crowns the
efforts of the management and hind
sight informs US that mistake was
made in not taking advantage of the
opportunity literally to steal" stock
when the chance offered. 1t will be
recalled that just prior to the Jump a
year ago OF Old Emma Leasing stock
from twelve cents to around eighty
cents, the stock market sold to within
two cents OF its record low, and it was
about the most neglected of all the
low price stocks in the whole curb
list.
Justifiably. the management of the
National Leasing Company lays the
/ greatest emphasis on the fact that its
/ property adjoins the National gold
mine at National. Nevada, mine that
has gone down in the annals of min
| ing history as a producer OF the rich.
est gold ore ever mined in quantity
Not only does the National Leasing
acreage Immediately adjoin this bo-
nanza mine, but il contains the con
tinuatlon of the National vein itsel
which has produced $7O00,OO0 wortl
OF gold.
The company has been EXCEPTIONAL!
fortunate in being able to do ava.
with tedious preliminary work, sucl
as sinking a shaft. erecting hoistin;
plant, etc. through contract en-
tered into with the National Mine
! Company. Under the terms of thi
contract the company has the use o
the main shaft and equipment of tn
National mine. Thus little over
/ half-year after the National Leasin
Company took over the property ii i
already drifting on the National vel
in it's own territory.
The last report of Mine Superinten
dent Elmer Pfouts indicates the sam
mineral formation in National Leasin
ground as Immediately preceded tn
opening OF the stupendously rich Ma
. tional oreshoot. This mineral forma
ton shows antimony, with streaks G
iron two inches wide running throug
the face of the drift The working
= of the National Leasing Company ar
& now about 700 feet distant from tn
National Mines Company's ground.
The National Leasing Company wa
( Incorporated for 1000 600 shares. @
. which less than 100000 pre- outstanc
ing. A million shares OF tne treasur
I stock were not long ago underwrite
E al fifteen cents share. less a 5-per
cent underwriting commission. Thi
is the money which mas been mad
available for mine development Tn
management and control is similar L
that of the Rice Oil Company.