University of Nevada, Las Vegas

page 31

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The "Combination" Mill of Goldfield, one of the Promotions of L. L. PatrickNEW country requires the application of capital to foster and develop its industries and resources. And particular emphasis can be given this fact in a primitive country where Nature has scattered with a lavish hand her richest treasures that have for centuries waited for the hand that would unlock them. The gold fields of Nevada, were it not for the association of ample capital, the result of the interest of Eastern investors, would today be the same bleak, barren stretch of sagebrush waste, precipitate mountains, and unpeopled plains that it was before the first discoveries of gold at Tonopah some six years ago. staked his first claims in theWhen the prospector, in the advance guard of civilization, Goldfield District he laid the foundation of the future great industry, one which would startle the world and place its successful men in the highest seats in the land. The prospector's work was well done, and it but remained for capital to follow the trail blazed by this hardy pioneer. In the development and opening up of the mineral resources of Southern Nevada, perhaps no firm of men has been more conspicuously identified with the mining industry than the firm of Patrick, Elliott & Camp. In many States and Territories, indeed, in many foreign countries, this firm numbers its clients among the rich and the poor—investors in Southern Nevada mines.The members of this firm were pioneers in Tonopah, Goldfield, Bullfrog, Manhattan, and, more recently, in Fair-view. In each of these camps their name is synonymous with the best stocks in the district, and it is not too much to say that no promotion house in Nevada, or any other State, has enjoyed the continued success and good fortune that has attended the efforts of this firm in the mining industry.The firm consists of Mr. L, L. Patrick, promoter of the great Combination mine of Goldfield, and a conspicuous figure in the mining camps of the West; Mr. Sol Camp, formerly superintendent of the Elkton mine of Colorado and of the January mine of Goldfield, and one of the best underground men in the West; and Mr. M. B. O'Farrell, under whose personal supervision the vast volume of business in the office is handled. As the promoter of the first producing mine in the camp of Goldfield, Mr. Patrick launched an enterprise which gives an annual return of $400,000 to the shareholders upon an investment of an equal amount of money. In other words, the Combination mine pays one hundred per cent, per year in dividends to the people who first evinced their faith in the new camp of Goldfield by furnishing funds to develop and open up the mine and the construction of a mill, which is one of the finest in Southern Nevada. Mr. Camp, like Mr. Patrick, was a pioneer in the Southern Nevada district. He came to Tonopah in the early days, long before the construction of the Tonopah Railroad, and soon afterward became identified with the leading properties of the three great Southern Nevada camps, and more recently secured extensive interests in Manhattan and Pairview.Mr. Patrick and Mr. Camp were the original locators of the townsite of Rhyolite, as well as the Bullfrog National Bank mine and some of the best located ground in the Bullfrog district. And the firm of Patrick, Elliott & Camp became fiscal agents for the Rhyolite Townsite & Mining Company. The shares in this enterprise were sold at six cents each, and are now in active demand in San Francisco at ten cents.Among the many profit-making enterprises which have been offered to the public by the firm of Patrick, Elliott & Camp is the Bullfrog Amethyst, a property which adjoins the Montgomery-Shoshone. Messrs. Patrick, Elliott & Camp acted as fiscal agents for the Amethyst Company and sold a large amount of stock to the public at 15 cents a share. Mr. Charles M. Schwab, the steal magnate, thought so well of this property that he purchased the control and before the earthquake the stock sold as high as $1.25 per share, representing a profit of 800 per cent, to the shareholders who got in on the ground floor offering of this company. Amethyst is now selling around 65 cents per share.The members of the firm of Patrick, Elliott & Camp were the original locators of the Bullfrog National Bank mine, and the stock was invited to public subscription at 15 cents per share. The public is well acquainted with the fluctuations of the market on this very popular and generally traded in security. National Bank is now selling around 60 cents per share, and has sold as high as 75 cents. The mine represents one of the best properties in the great bonanza camp of Bullfrog. The public has participated very largely in the profit-making on this stock, and it is doubtful if any security listed in San Francisco, Goldfield or New York has been so generally; traded in at all seasons of the year as the stock of the Bullfrog National Bank. Early during the current year Messrs. Patrick, Elliott & Camp became fiscal agents for the Goldfield Laguna property which adjoins (with the exception of a few acre fractions) the Red Top mine, and is only separated from the famous Mohawk mine by about 700 feet. This was another 15-cent promotion, and sold very readily to the public at that figure. The stock soon after it was listed advanced as high as 50 cents, reacted to 20 cents, and, as these lines are being written, is selling around 45 cents per share, representing a profit of 20 per cent, in less than nine months to everyone who purchased stock in this company at its original flotation price.Manhattan, in the early part of the present year, was the scene of what was perhaps the greatest mining excitement of its kind recorded in the annals of the West. Patrick, Elliott & Camp secured some of the best properties in the district. Mr. Elliott, who passed to his reward as a result of an over-zealous interest in his life's, work, was one of the pioneers of Manhattan, and it was while pursuing his business in that camp that he contracted the cold which resulted in his death.The firm's first promotion in Manhattan was the Manhattan Combination, the stock of which was sold to the public at 15 cents per share, and is now selling upon the Stock Echanges of the country at 23 cents. This property has since developed into what the firm believe to be one of the best mines in Southern Nevada.The Seyler-Humphrey, the scene of the original discovery of gold in Manhattan, is also a promotion of the firm of Patrick, Elliott & Camp. The Manhattan Mizpah, which adjoins the great Consolidated, the Buffalo, at East Manhattan, the Manhattan Red Top, the Manhattan Treadwell, and the Manhattan. Amethyst, are all properties which the firm acted for as fiscal agents. It may be safely said that the firm are easily the biggest operators in the camp of Manhattan.

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page 31
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