University of Nevada, Las Vegas

Forward Mining Development Company Prospectus page 6

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The following item, taken from the leading paper of what might be termed an "opposition camp," gives one a good idea of the locality in which the Red Fox Mines are situated:(Bonanza, Tonopah, Nev.)"In the ridiculously short time that the Bullfrog district has occupied the eyes of the world, values have been found in that region that have caused the prospector and miner to gasp, the world to smile its unbelief; yet discovery followed discovery and the facts found to exist in that fabulously rich region by incredulous experts have come rather reluctantly from these gentlemen, who were in no wise prepared to meet such unprecedented conditions. The whole of Bonanza Mountain, from a metallurgical standpoint, is the acme of perfection."The extremely well-defined veins and value-bearing ledges leave very little to conjecture and have given rise to the saying in Bullfrog that "even a tenderfoot could see that it is a sure proposition.""The management of The Forward, Mascot and Red Fox Companies are under the direct supervision of Messrs. L. L., J. M. and W. F. Patrick, and the whole Forward Company's staff of expert miners and engineers. These men are not only familiar with every phase and turn of the mining business, but are thoroughly familiar with the local geological and mineralogical conditions of the Goldfield and Bullfrog Districts."Lucien L. Patrick, president of the Red Fox, Mascot and The Forward Mining Development Company, now one of the fortunate miners of Goldfield and Bullfrog, Nevada, is well and favorably known to the prominent mining men of Colorado, Nevada and other western states. He has good judgment and is a careful manager, having been very successful in Leadville and Aspen, Colorado; Kootenai, B. C, and in the State of Washington, and now, within the last two years, at Goldfield and Bullfrog, Nevada."On October 26, 1903, Mr. Patrick induced some Eastern friends to join him in taking a bond on the Combination mine at Goldfield. They paid $5,000 and had a year in which to pay $70,000 more and take title. Since they took hold of the mine it has produced over $1,500,-000, is still outputting from $5,000 to $7,000 worth of ore per day, and pays $36,000 per month in dividends; which is 10 per cent, monthly on its issued capital stock of 360,000 shares.Shortly after making the Combination purchase, Mr. L. L. Patrick and two other partners leased the adjoining claim called the January, which has proven even richer than the Combination. A late edition of the "Goldfield News" states that the January lessees have blocked out more than $1,000,000 worth of ore.Mr. Patrick was the first to recognize the possibilities of the Goldfield district, going there when there were less than a dozen people in the camp; now the population is about 10,000, and there are from seventy-five to one hundred arrivals daily.As to Mr. Patrick, any bank or banker in Tonopah or Goldfield, Nevada, or prominent mining man in Colorado, can be referred to."W. F. Patrick opened up, developed and sold to The American Smelting Company, the Aftermath mine at6

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