davidaulloa/AmericanStories huggingface dataset:
Mohave County miner and our mineral wealth., 1921-10-07
Gold Chain Opened
 More than Million
 Dollars of Mill Ore

In the Gold Chain mine develop ment has brought to light one of the most important bodies of gold on the Pacific Coast, although the outcrop predicated just such an ore body as has been opened on the 100 level be- low the shaft collar.
 The Gold Chain is situated in the heart of the mineralized section of San Francisco mining district, in what is locally known as Union Pass, and lies between the Sheeptrail mines and the Katherine, taking on somewhat the aspect of the famous old Vulture mine. The massive vein forms large butte quite removed from the detached foothills of the Blue Ridge range. The greater part of the butte is quartz-cal- cite, showing some free gold and car rying fairly good mill values through out. Drifts have been run through this great mass of vein material and pay ore opened to the value of more than $1,OO0,OO0.
 The Gold Chain has been equipped with hoisting plant, compressor, cleo tric generator and all necessary ap- purtenances for the carrying on of a big campaign of development. The shaft has been sunk to a depth of 106 and drifts have been run off on the footwall east and west. The east drift is now in over 200 feet and the west drift about 50 feet. A cross-cut is to be carried across the vein at the pres ent heading to the east, which will probably cut the richer ore that has been opened at the surface. The west drift is still in ore and it is probable that an important body will also be developed farther to the west. Known ore bodies show on the surface for a distance of 400 feet from which points through the butte and again where it cuts another butte to the east. The importance of this cassive ore body is shown in the fact that it is 50 feet thick, has been opened approximately 300 feet below the apex and the values are of mill grade throughout sur rounding the property are mines or
Mohave County miner and our mineral wealth., 1921-10-07
The Great Katherine Mine Which Attracted
 Nations Attention to the 'Rand of America

same locality is the Adams and oth
 properties, the Adams being under
 tensive development on a most pro-
 ising vein. Other properties are d
 either developing or are preparing 1
 active operations. As the cooler da
 are here it is expected that importa
 work will be carried on all along t
 line, especially in the neighborhood
 the Gold Chain.
 The section in which the Gold Cha
 is situated is about 40 miles west
 Kingman, reached by splendid aut mobile road. The Blue Ridge mou tains have been made accessible
 splendid highway, one of the best q the coast and it is probable that with short time a highway will be col structed into the camp, there bein| but ten miles to finish the entire di} tance. The country is ideal for all til year work, and c. F. Nourse, the s,l perintendent, has carried on an actiI campaign of development during tn past year, and has obtained big rd suits for his corporation. No operat ing mine in the state has secured s| large an ore reserve with the samI amount of outlay as is shown in thiI property, nor so much for the invest ment in the way of actual returns.
 There are II claims in the group many of them showing mineralizatioI of importance. The company has beeI incorporated for 100000 shares o| one dollar per share, the treasury bel ing ample to carry development to al extent that will warrant big milling plant. As there are now 160,000 tons of ore in sight and every days develI opment is adding largely to this rel serve, it will be but short time unti the opening of stopes are necessary and milling plant installed. The DO sition of the mine is such that the in. stallation of large plant will cost far less than in any other section o1 the state, and mining and milling costs should be far lower than at othe, properties. Little timbering is nee. essary in the mine and until water is reached it is to be expected that low costs will prevail.
 The company is offcered by Edwin s. Shanklin, of San Francisco, presi. dent, and D. w. Shanks, of the same place, general manager. Thees r> are among the large mining operators of the coast and the shareholders are situated in SanFrancisco, Sacramento
Mohave County miner and our mineral wealth., 1921-10-07

headings and further explorations on
 the upper levels is liable to bring in
 still greater ore bodies. This great
 vein has been determined by qualified
 mining engineers to extend into the
 ground of the Gold Chain propeA!y,
 the intervening territory showing
 naturalization. The characteristics of
 the two ore bodies are similar, and
 the values are quite uniform. To the
 east and south are many other i'm
 portant veins, the most prominent of
 which is the Roadside and farther to
 the east is the Sheeptrail. Others in
 the same neighborhood are the Rev
 enue, the Tyro and the Banner. All of these properties have ore bearing potentialities, some of them carrying veins that have width of 50 feet. Consultation of the map, published elsewhere in this issue, will give the reader comprehensive idea of the position of the Gold Chain in relation to the Katherine and the other prop critics of the district that have been developed to the point of production. While the whole territory surrounding the Chain is a network of veins this property bears the distinction of hay ing the greatest outcrop in the dis trict, the massive vein surmounting the big butte and rising above the floor of the plain to height of 200 feet. Exploration below the level of the plain 106 feet has developed better class of ore than disclosed on the surface, a great deal of free gold showing in the ore, and the enclosing walls giving evidence of permanency of the vein structure.
 It is also in evidence that at point close to the outcrop of this big vein there is a crossing of the north and south and east and west vein struc- lures, as we'll as the dikes that are be- lieved to have mineralized the lodes of that area. The veins coming in from the south are those that have formed in the country east and south of the Arabian, while the east and west veins are those of the Sheeptrail and the Katherine. The area of min eralized country is almost continuous from south of Oatman to far north of the Gold Chain, and from the west side of the Colorado river to the apex of the Blue Ridge range. The great est part of the territory is Assured with important veins that carry high grade milling ore, this ore being ideal
Mohave County miner and our mineral wealth., 1921-10-07

company, be mined and milled at a cost not to exceed $6 a ton. This means that the run of the mine ore already blocked out has a net value of $2,237,156, based upon an average of $14 ton. It should be remembered, however, satisfactory though the as sured net value of the tonnage is to the Katherine management, that the value as determined is not entirely representative of the worth of the property. To arrive at that consid- eration should be given to the "possi- ble ore" on the four levels already run
Mohave County miner and our mineral wealth., 1921-10-07

lodes of great importance. To the
 west is the Katherine, Katherine Ex- tension and other properties that have great productive potentialities. The Katherine has been opened to the 400 and winze is now being sunk to the 700 on vein that has width of from 30 to 68 feet, and developed ore body
 about 700 feet in length. Above the 400 level there is developed mill ore valued at $2,50O,000, and potential possibilities of double that amount. Ore shows in both the east and west
Mohave County miner and our mineral wealth., 1921-10-07

from a cyaniding point of view, there being practically no bases in it. This condition is true of the Gold Chain and all the surrounding mines, the deep level of the Katherine showing no change from neutral to base ores.
 To the west of the Gold Chain, ly- ing between that property and the Colorado river, is the Sunbeam group, which was recently taken over and is to be operated by w. J. Loring, one of the largest gold mine operators of the coast, and who is now president of the American Mining Congress. In the
Mohave County miner and our mineral wealth., 1921-10-07

and to the large and rich tonnage which is reasonably certain to be opened in the area between the 4O0- foot level and the levels that will be established in the near future to a depth of 700 feet.
 Mining men who are conversant with the known, possible and potential ore conditions are therefore placing the value of the Katherine mine at this time at about $4,000,00o. Ulti- mately the mine will doubtless pro- duce many times four million dollars worth of gold.
Mohave County miner and our mineral wealth., 1921-10-07

and other cities of northern Califor- mia. Many of them have visited the property and have added largely to their holdings after these visits, which shows their confidence in the proposi- tion. And the knowing ones of this county have taken all the shares of- fered to the extent of their ability to buy, which shows the feeling of opti- mism in the community regarding this property. That it is to become one more of the big gold producers of the county is as sure as anything in this world can be.
Mohave County miner and our mineral wealth., 1921-10-07

grade, in the area between them.
 What is termed possible ore' has also been determined to the satisfac. tion of the management in other sec tions of the mine. One block occurs on the 300-foot level east, between stations 3-02 and 3-10. Another has been determined in the continuation of the proven ore shoot to the east of station AIS on the 400-foot level. The mineralogical conditions indicate that this shoot will be as long on the levels above as it is on the fourth level and that it will add very materially to the ore tonnage available for reduction. A considerable tonnage of ore will also in all probability be developed with the continuation of the east drift on the 100foot level to a point over sta tion 2-26 on the 200-foot level.
 The ore shoot east of the shaft on the 1OUfoot level has known length of 2S7 feet, a width of from 15 to 35 feet and an average value of $11 gold a ton. There are wide lenzes in the vein on this level, however, where the gold values reach $100 a ton. The ore conditions on the 200-foot level are even more satisfactory, as the ore shoot east of the shaft has a known length of 533 feet, a breadth of from 31 to 65 feet and an average value of $14.45 gold a ton. The figures cited cover the dimensions and value of the shoot so far as it has been determined by crosscuts, raises and assays. They do not, however, cover the ore that has been opened beyond the point where the last crosscut was driven, although the vein continues on strong and well-defned with the face of the drift all ore.
 An idea of the high gold content carried by the rich lenses opened on all of the levels is gained from the fact that at a point $40 east of the shaft on the 20O-foot level 16 feet of the vein has an average value of SIP a ton, and that on the 300foot level there is a section of ore 21 feet wide which has an average value of $8O a ton. This section in turn carries six feet of ore having an average value of $293 ton. This is the sort of ore the leaser itches to handle. It is the sort of ore that brought fame to Grip pie Creek and Goldfeld as the richest of all leasing camps. In passing it IS we'll to state that the vein at this point has a total breadth of 39 feet and an average value of $16 ton, ex- elusive of the high grade lenzes.
 To date, exclusive of the cutting of a large station and ore pocket near the face of the east drift on the 400- foot level, the underground develop ment work in the Katherine mine con- sists of 1889 feet of drifts, crosscuts and raises, and shaft 400 feet deep. The work on the 100-foot level totals 819 feet; on the 200-foot level it totals 32S9 feet; on the 3O0-foot level it to- tals 1925 feet, and on the 400-foot level it totals 1882 feet. This work has opened to depth of 400 feet a very large body of milling and high grade gold ore and has demonstrated the Katherine mine to be one of the coming great gold producers of the west.
 The ore is entirely free milling and can, it is estimated by the metallur- gists in the employ of the Katherine
Mohave County miner and our mineral wealth., 1921-10-07

With lenzes of high grade gold ore opened on the 100, POO, 300 and 4OO- foot levels, and with run of the mine ore averaging $14.45 gold a ton across a vein-width of from 16 to 65 feet and an average breadth of B feet and an average breadth of 33 ters upon the second stage of devel- opment with the entire bottom of the winze-6 by 10 feet-in ore having an average value of $57.59 gold ton. Twelve feet below the 400-foot level the ore is breaking to the average stated and carries punches of quartz having a value as high as $500 gold ton. From the level down the ore has increased in value, assay returns at a depth of four feet being $10.28 gold ton and at depth of eight feet $23.97 gold a ton. The marked in crease in the average gold content of the ore as the winze is deepened indi- cates that very large tonnage of rich ore will be mined in the area between the 40O-foot level and the proposed 70O-foot level, which will be run from the bottom of the winze to a point be- meath the shaft and be connected with the latter by a raise. This work is preliminary to the erection of mill ing plant of 300 tons daily capacity, and marks a stage in the development of the rich Katherine mine that will shortly be followed by the reduction of ore and the placing of the property on a pay basis. To expedite this work the mine is at once to be equip ped with more powerful hoisting and compressor plants than those now in service.
 Above the 4OO-foot level the blocked out ore, as estimated by R. L. Dim mick, general manager, totals 154,SS6 tons of an aggregate value of $2, ,163,- 472. This estimate was made several months ago, however, and does not in clude the ore-tonnage which has since been blocked out on the 4OO-foot level to the east of the shaft, and which experienced mining men believes adds at least half million dollars to the value of the ore reserves. Neither does it include the ore that has been opened both to the east and west o1 the shaft on all of the levels during the mast few months, but which as yet has not been blocked out.
 On the 2OO-foot level west, for ln- stance. a new ore shoot was encoun- tered at a point $50 feet from the shaft and followed for a length or more than 125 feet. Only one cross cut has been driven in this shoot to date. The gold values, however, so far as the ore body has been sampled range from $5.75 to $19.36 ton. TO the east of the shaft on this level the vein is from 30 to 65 feet wide, has an average value of $14.45 gold ton and for a width of 16 feet has a value of s122 gold a ton. The conditions to the west of the shaft denote that the ore to be blocked out there will be fully as wide and valuable as the ore already blocked out to the east of the shaft. At point 374 feet west of the shaft on the 300-foot level there are indication of the same shoot that IS opened west of the shaft on the 2O0- foot level, and further developments there will doubtless result in the open ing of a large body of milling grade ore, associated with lenzes of high
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31
Can Sell Goods Right
Now, Hoover Believes
Writes Sell Now League That
Business Is Emerging From
Worst Sl1rnn

Because of the consuming proclivitie.
of the public goods can be sold right
now, Herbert Hoover told the Sell Now
League, which has been carrying on =
campaign to encourage statesmen, mer
chants and manufacturers to sell thei,
products more intensively to that par,
or the consuming public which is In q
position to buy them.
mere is never a vcrv long period ir
peace times When goods cannot be solo
by consistent, persistent effort" states
Mr. Hoover in his letter to J. Mitchell
Ihorsen, chairman Of the Sell Now
League, simply because the human
animal goes on consuming He slows
up at times, but over q long term both
his production and consumption are al
ways increasing.
1--WE have had fourteen depression.
since the Civil War and fourteen pc.
rlods of prosperity, each of the latter
greater than the one before. We have
passed the valley in this slump-the
worst and most rapid we have eve,
fallen into-but we are coming out OF
1t steadily through the intelligence anc
capacity of our business men"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31

and at the beginning of the year to
$l7,SS0, 600
In his report to stockholders, Rober.
8 Bradley, chairman of executive com
nlttee says in part:
Our collections have been practc-
ally normal outside of the cotton states
and Cuba, which comprise about one
third of our business With these dis
trlcts included, we had at June 80 las,
collected over 81 per cent of our entire
1920 sales. We have already secured
by collateral or responsible endorse
ment large part of our past due notes
and accounts, and we do not anticipate
much ultimate loss on last years bus
ness.
THE proceeds of our recent issle
of twenty-year bonds have been applied
to the reduction Of bank loans and to
the retirement in full Of debenturc
bonds, of which s5,03590O were out
standing on June &c. 1920
1--WE are bringing about many
changes in our organization and effect
ing economies in many departments,
which not only materially decrease
expenses, but will at the same time iu-
crease efficiency. Factory wages have
been reduced and labor efficiency
equals or even exceeds prewar stand
ard.
THE management looks to the future
with confidence in the revival Of the
fertilizer industry and in the return
of prosperity TO your company.'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31
Big Agricultural
Chemical Surplus
Lost in Bad Year
Total Deficit After Payment
of Dividends Is ST.
l45, 900, Annual Report
Shows; Inventories Gain

American Agricu tural Chemical Com
pany's surplus of more than Sl8,-
100000 was reduced to less than So, 900.
600 during the fiscal year ended June
80, 1924. The company's annual report
was made public yesterday. Not only
did the company make a profit Of only
S1912,009, as compared with $9,093, 600
in 1920, but it also wrote off S5,023 900
on its inventories. Notwith standing
this bookkeeping transaction, invento
rcs as of June 80, 1921, were carried at
S18 100000, or more than $1,000 900
greater than inventories as of June 80
1920
What happened apparently as that
the company contracted for large
amount of raw material in the early
months of the calendar year 1920 in
anticipation Of an abnormally large de-
mand for fertilizer. Up to October it
looked as if the expectations would be
justified, but in October the price of
agricultural products began to drop
rapidly. The American Agricultural
Company therefore had to take into
stock a larger amount Of raw material
than ordinary at the time when sales
were at the lowest and cancellations Of
orders high.
After writing off the adjustment in
inventories and charging interest, de-
probation and reserves there was a
deficit for 1921 Of S1l ,l5S 900, compar-
ing with a surplus available for divi-
dcnds in 1920 Of $5,2S2 900 This was
equivalent in 1920 to S1l.18 earned a
share on the common after the payment
of the regular preferred dividends. In
1921 the company paid its regular pre-
ferred dividends calling for $1,707 ,0O0
and its first semi-annual dividends
on the common, calling for S1,279O0O.
The total deficit, therefore, for the year
was Sl4,145, 900.
AS Of June so, 1921, the company had
S4,l34000 cash, SIT 1902, 900 notes recev-
able and S25,44S,000 accounts receiv-
able. The total of accounts ard notes
receivable was about $4,000, 900 greater
at the end of 1921 fiscal year than at
the beginning of the year but accounts
receivable had been reduced by about
$4.000,000, and notes receivable had
been increased by about S7,4OO,OO0.
To tide itself over this period the
company had been compelled to issue
bonds and the total bonds outstanding
at the end of the fiscal year was $685.,
$4,000 as compared with Sl2,05l 900
bonds outstanding at the beginning
of the year. Notes payable at the end
of the year amounted to Sl5522, 600
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31
aSeclIne I'm Loans
Rapid AS rice
Slump Is Checked
commodities Drop Far in
Excess of Falling OFF in
Demand for Money. How
ever, Says Reserve Bank

loans Of the Federal Reserve banks
oecAned more rapidly in July than in
any previous month since the maxi
mum Of credit expansion was reached
'~st Year according to August review
e. circuit and business conditions Of
the Federal Reserve Bank of Now
York y"
The decline in commodity prices
however, remains fax in excess Of the
cecliNe N the volume Of credit, the
n@nN points out, illustrating the use
20 winch bank credit has been nut to
conserve the interests Of business and
agriculture during the period of read
JUStment
I'm SO far" says the bank, "as loans
are made against goods. ordinarily in
amounts proportonatc to their sellin~
value, 1t might be expected that the
aggregate OF loans would rise and fall
proportlonately with the rise and fan
81 the general price level. But lust
as prices rose faster and higher than
oanN loans, 50 they have fallen faster
and further. The maximum demand
Tor credit was when the fall in prices
was most acute. II was at that time
mat business men looked TO their
oaaks to aid them through the most
dlfcult period of read ustmcnt. and
when the banks in turn awaited them
selves most of the credit making
powers of the Reserve system
IN succeeding months the need for
credit with which to protect commerce
and industry has become less in many
directions, and the lower prices of
commodities have required less cred t
to carry new undertakings through
the processes Of manufacture and sale.
But In agriculture, where price de-
CilnNS NnUp hopn bo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31
Todd Slaipyards Earned
$l4.8I Share i'm 1920

For the year ended March 81 the
Todd Shipyards Corporation reported
q surplus, after interest, depreciation,
Federal taxes, etc, of $1,000, 1927, equiv
aent to $14.S1 share earned on the
20S,S23 outstanding shares of capital
stock This compares with a surplus
of $6,617 ,137, or s66.S9 share earned
on the $500 shares outstanding in the
preceding year.
Net earnings totaled s735o,444,
against SIS, 224, $50. Cash amounted to
s299o,4 79, compared with $3,551 ,0s2
Accounts receivable Melted $7,513,479,
contrasted with $1l,537,241. Accounts
payable and accruals totaled $l,55S, 046.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31

The Third Avenue Railway System
reported a net deficit after all charges
of $15.7S2 for the month of July. com
pared with a deficit of $29 1888 for July,
1920. Operating revenues amounted
to S1,246,l79, an increase of SS5,555.
Operating expenses were S979. 5SS, an
increase of $40, 546. The only expense
item which showed decrease was main
tenance, which was s1o,362 less than
last year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31
Bonds Tor IavessagenS
harris, Forbes 6 Co
PIns s1rsot, Corner vvuHsaua
fiSAN YORK;
Pacific Development
Deficit l. S230.324

For the year ended December 81 the
Pacific Development Corporation re-
ported net income. after charges and
taxes, Of S254.046, equivalent to Is cents
share earned on the outstanding 321.-
Cos shares al capital stock, at no par
value.
This compares with net income Of
sl,SSi,452 equal to $50 share earned
ION the 170.75s shares of stock, at 500
par value. outstanding in the preceding
year Deficit afrar dividends amounted
10 $685.. against 4 surplus Of sass
x21 in 1919
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-31

Dillon, Read & Co. announce that
the entire issue of $2l000,o0 United
States of Brazil twenty year 8 per cent
external gold bonds has been sold and
the books closed.
Sherwood & Mortified arc offering
a new issue of $4,000 own Of Ma
maroneck, n. Y, per cent coupon
bonds, maturing annually 1922-195l, at
prices to yield SIS per cent to 5.25
per cent income.