University of Nevada, Las Vegas

Goldfield Mascot Mining Company p 14

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to the character of any enterprise by engaging the services of a reputable mining engineer to investigate. There is little secrecy and no difficulty in ascertaining the true character of any individual or any mining enterprise in this district.EXAMPLE OF PROFITSSpace will not permit of a detailed statement concerning the producing mines, profits realized therefrom, dividends declared, etc., but as an example the Combination mine, comprising some 200 acres, may be cited. In October, 1903, this mine was bonded on a three months' option for $75,000, of which $5,000 was paid in cash; the remainder of the purchase price was taken out of the mine itself. Since then the mine has been actively and extensively developed, a twenty-stamp mill and cyaniding plant constructed on the property at a very heavy expense (the initial ten-stamp unit cost over $55,000), a strong hot water spring purchased, and pipe line 12 1-10 miles long with pumping plant installed which brings an ample water supply to the mill; electric and gasoline hoists installed and all buildings and plant necessary, erected entirely out of the proceeds of the mine. In addition, dividends have been declared monthly for nearly two years at the rate of 10 per cent per month on the capital stock issued, or a total of over $800,000, and $80,000 reserve kept in the treasury. There is also some $3,000,000 ore reserves in the mine. L. L. Patrick, president of the Goldfield Mascot, was the one who induced some Eastern friends to join bim in taking up the Combination property.LEASERS AND DISCOVERIESLeasers have made large profits in this district and have actually made the first discoveries on all the leading mines of the district. As an example of returns from leasing operations the Mohawk property may be cited, in which nine15




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