The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-10-04

brain. Drawn and genius made ro-
nance 40 years ago. has had a new
britt with silver at $1.16 an ounce.
and still climbing toward $1.3O. is
said to be most marked because of a
million-dollar deal affecting its fu-
ture which was closed here to-day.
Here is the story in all of its inter-
esting details:
The Palisade & Eureka Railroad.
an 87-mile narrow-gauge line con-
Meeting the two towns of those
names in Nevada since 1874. was sold
for 81, ZOO. 900 in this city to-day by
Mrs. WhiteIaw Reid and Odgen Mills
of New York City and George Whit
tell of this city to Eugene Davis OF
New York and Eureka. Nevada.
The deal was closed this morning
at the Palace Hotel by Davis and
John E. Sexton shortly after their
arrival from Eureka.
PURCHASE CONFIRMED
Davis himself confirmed the truth
of the purchase of the railroad, say
ing:
Yes, it is true, / have bought the
railroad and will take possession of
it December 81. l have individually
purchased the property"
Davis is the principal figure in an
Eastern mining syndicate which has
already invested $1,000. 900 in the
Eureka-C roesus. Eureka King and
Eureka Peerless mines at Eureka
and in go adjoining mining claims.
The members Of the syndicate have
also under their control 200 other
claims nearby.
1t is proposed to spend 81. 900. 900
on a smelling plant at the town OF
Eureka for the reduction Of the gold
and silver ores. At the present time
many tons of high grade res are be-
ing shipped daily to the smelter at
Salt Lake City.
HEAVY ORE TRAFFIC
These ore shipments constitute a
large traffic for the Palisade and Eu-
reka railroad. and the Davis syndicate
finds it indispensable for their pur-
poses. Hence their purchase of it.
The road connects at Palisade with
both the Southern and Western Pa
cific railroads. so the latter r find
ing the Davis ore shipments to Salt
Lake a profitable traffic. No ore I'M
der $50 and $40 a ton in gold and sill
yer is being sent to Salt Lake.
John E. Sexton. who closed the
deal for the former three owners. ia
one of the unique business char
acters of the Coast. and a 10000 a
year salaried manager on this Coast
for certain joint properties owned by
Whittell and Mills and Mrs. Reid.
Mrs. Reid is the widow of White
law Reid and q daughter of the late
ID. o. Mills. who in early days was
the richest man on the Pacific Coast
and who refused the pleadings Of
Stanford, Huntington. Croker and
Hopkins to buy into their new Cen
trail Pacific Railroad as a moneyed
partner on the ground that
II think your road is too risky an
investment"
HEIRS TO MILLS ESTATE
Ogden Mills and Mrs. Reid got
their interest in the Eureka railroad
as the heirs to the d. O. Mills estate.
} Whittell's interest in the property
was q separate investment.
Ten years ago the little road wal
almost destroyed in q cloudburst
When about to be abandoned fol
good as a losing venture. Sexton
seized the opportunity to put it on
its feet. So successful was he in thu
work that he is now one Of the trust
ed business advisors Of that trio Of
multimillionaires. This trio. it is said
gave him the credit for their million
dollar deal of to-day.
RICHES OF EARLY DAYS
Next to the famous Comstock .