The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-08-09
HOW GOlDFItlD
Continued from Page one)

up his sleeve. At this time he
merely announced the formation of
the new Goldfield Development com
pany, the purchase of the Hazel
Queen claim, the bonding of the
February claim and the leasing OF
the remainder of the big territory
owned by the Consolidated. He
also announced that the company
would let sub-leases on liberal
terms, and interest conferred on
these sub-leases until March 2, a
memorable date in the history of
GoIdfield.
On March 2, A. 1. Darcy, vice
president and general manager of
the Development company, an
nounced the plans to glory hole"
the Combination mine, saying there
was enough ore there of an aver
age value of $500 per ton to keep
the Consolidated mill operating con-
Itinuously for three years. The ton
mage in the Combination was estf-
mated at 100000. Then followed
the company statements regarding
the Red Top, where the tonnage of
ore averaging from 81 to s was
ESTIMATED at 200, 900. Recent oper-
atoms in the Red Top have resulted
in 5000 tons of ore assaying from
$22.4O to $3.50 being broken and
it is estimated that a large tonnage
of ore of this grade remains to be
brought down. Within the past
few weeks exploration in the Red
Top has increased the estimated
tonnage from 10000 to 100000,
giving an estimated tonnage of L.
900, 900 for the Combination and
Red Top.
In addition to the ore in these
two mines the Development com
pany has 100000 tons in the north
ern end of the Florence, which leads
to another change of management
that has been vital in recent Gold
field history, the taking over of the
II lOTcHCG ny IH0 NnltHCI lIIOI Coto.
On November %, 1916, the Flor
ence went into the hands of a re-
ceiver, company operations were
suspended, and the mine thrown
open to lessees. EARLY in October.
1918, the receiver was discharged.
The gross production during the
uo,;od 80 tho raoa;varch;p voc HoE0 =
900, which included money received
from the sale of from $4,000 to
$4,000 worth of machinery, mainly
from the burned mill.
During this period the Witt
Brandon lease, afterward CONSOLE
dated with the adjoining Taylor
Mechlin, attracted minor attention
through the opening of rich ore.
which later developed into a bo-
nanza. This lease recently was SOLD
to the Florence Divide company,
which within the past few days
made a shipment on which a mini
mum valuation of $12S,O00 was
placed.
In the last months of 1918 the
lease attracted the attention of
mining men and drew their
thoughts to the fact that, while
some of the greatest bonanzas
opened in Goldfield we're found in
the Florence. the mine still held
vast possibilities. Among the men
who realized this was j. w. Dunfee
of Goldfield, who had felt the pulse
of the Lockharts in Los Angeles
and knew they We're willing to sell
the 314,000 shares of stock held by
them.
In New York at this time was J..
p. Williams off Goldfield, a miner
by choice, but a promoter by nature.
Early in February Williams pro-
posed to Dunfee that the latter in
vestigate the possibility of turning
the sale of a mine in California, to
which Dunfee replied that the live
prospect for sale was the Florence
and advised Williams to hurry to
Philadelphia and see what he could
do with A. ID. Parker, holder of
31S,65O shares. Williams went to
Philadelphia and shortly after Dun
fee announced that the sale had
been made to l.. E. Whicher of
New York and associates. Imme-
diately mining men pricked up their
ears, for Whicher's connections in
the financial world were known and
it was realized that his entrance
into Goldfield and the Florence
would be an event of supreme i'm
! portance to the district.
Hitch followed hitch in the re-