Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1920-11-13
PRICES
PUZZLE INVESTORS

~ IA atlehtlon IN the PROFESSIONAL
MIN and market circles here Is con-
vere. g ON the break in the price oi
Bro n Hills Silver Corporation stock
on e Stock Exchange. From a
big two months ago, OF % cents
the aares have recently tobogganed
10 cord = low" OF ten cents.
In ne lace Of most flatterine report,
from the mine, amply verified. and
yely favorable reports as to the sue
cess 10 date O. the company's financ.
ing, a decline in the market has oe
curred which has carried the quoted
valpe Of the shares down to fully foar
cents per share below the price which
is now being p8id to the company for
it 5 treasury stock by the underwriters.
'Whats The matter with the mar
'et.' IS being asked on every side
And there is no answer.
When the Broken Hills Silver Cor
poration was incorporated in May a
ibis year, 100000 shares OF treasury
stock. or two-thirds of the company
antire capitalization were underwritten
~ the Filedity Finance and Funding
Company of Reno, Nevada, to net
the Broken Hills Silver Corporation
IN average OF 10 cents per share. The
underwriting called for the delivery OF
100000 shares OF stock at II cents per
share and additional 100000 share
block at every one cent share higher,
up to 2S cents per share, as and when
the company required the money. but
notiat less rate than $50oo per month
or mine development, and additional
sums required Tor property payments
etc.
The residue OF stock in the coin
pany's treasury, as yet un-issued to
the underwriters, is close to 100000
shares, equal to about 81 per cent OF
the entire capitalization.
The Broken Hills Silver Corpora
ton on October 23rd made cash pay
ment OF $4,000 on properties undor
option and, according to official state
nent there is no property payment
% be made by the company for the
next six months. Before. thathalf-
year elapses, it is stated that the com
nany expects TO pay the balance OF
$4,000 necessary to complete title to
IS Broken Hills and Belmont mines
out of high grade ore actually pro
luccd. A fortnight ago the company
allied on its initial shipment of high
grade ore which consisted Of IS tons
# a gross value oi S2lo per ton, Or
II excess of $1,000 Ore of the same
'ichness has since then been steadily
acked for early shipment.
The Company's Belmont cross-yeia
rom which initial production o. $2lC
Der ton ore has been made, has been
)ccording to official information
growing wider and richer as depth has
been obtained. A Wine, which has
lust been sunk 80 feet below the bot
ON level OF the Belmont Incline-a
total incline depth of 10 I:eet- is re-
ported to be the richest ore yet en-
countered.
Naturally, production OF high grade
ore to date with the limited facilities
fforded by a windlass and the incline
prospecting shaft, has been accom-
'lshed with difficulties. 1t has beer
of the makeshift variety strictly. It
has encouraged the management. how
,ver to predict that the rate OF produc-
ion of the sensationally rich ore will
We multiplied when the new Az per-
pendicular shaft, now being sent down
by three shifts with the aid o.. a gaso-
line hoist, reaches a depth OF $50 feet
and the vein is intersected at that
level If no mishaps occur ample sto-
ping ground will be Afforded then and
he new big perpendicular shaait will
offer facilities for quantity production.
Fhe shaft is already reported to be
down about 10 feet and is going down
at the rate o. three feet per day.
Besides all OF this. two new shafts
have recently been going down on the
Crown Point and Co Between claims
respectively. On the Crown Point
vein of ore about foot wide, assaying
S24 per ton at surface, is being sunk
on The phenomenally rich Belmont
vein, it will be recalled, was ouly few
inches wide at the top
The mine management o. the com
pany compares favorably with the best
in Nevada. Arthur Perry Thompson
The noted consulting geologist, is III
direct charge of operations. The mine
superintendent is Otto Schniffner. late