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Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, March 20, 1910, Image 24

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News of the Mines and Oil Fields
TWO NEW FINDS
STIR GOLDFIELD
FURTHER EVIDENCE OF DEPTH
IS RESULT
COMBINATION FRACTION ENTERS
MILLING ORE
First Strike Occurs on 285-Foot Level
Near Old Stopes—Second in
New Ground at
500 Feet
I*l Correspondence).
GOLDFIELD, New, March l!<.— The
sensation of the week In the Goldfleld
t was the announcement ol
important discoveries of pay ore In the
binatlon Fraction mine at
News of these developments
was withheld until the showing was
such as to leave no doubt of their
Importance and until the arrival
ol George Wingfleld, president of the
Fraction company. When rumors of
the character (if the two veil
leaked out from the mine they had the
immediati effect of advam Ing the mar
ket price of the stock over 20 per cent
within ;i few hours, and In the face of
tliis rapid rise none of the stock was
obtainable locally at market figures.
Manager Charles D. Wilkinson, wHo
has been In charge of the Fraction
of the y< ar, gives your
correspond' .: the following details of
late dcvi loi nent results.
On the 285-foot level a large shoot of
good milling ore has been exposed In
pound n< ar some "f the old Bl
and whir.' owing to some of the *:•
having caved, the ore will be sought
- Iving back from the 300-fooi l< vel.
Owing to the Eai 1 that in the
\,i,,\'i\a -Tit tins territory wa
fully mapped, the exact conditions and
situation of some of thei ; un
known, and « here two of thi
are ru ar t >gether and parallel no
chances will be- taken with ground
which may be dangerous, and th< open-
Ing of this ore shoot may require a
i tune than if it could be pene
trated with safety on the 286 level.
Of Great Moment
The discovery of greatest moment,
and one which has the greatest bearing
upon the value of Fraction, ii that
made recently at a depth of 500 feet
in entirely new territory, northeast of
the main shaft. Th< ore, which Ii of
high milling grade, was opened in the
exti nsion of one of the richest of the
Mohawk veins. It is Btill too early to
determine the size of the ore hoot, but
,t is larger than thi drift that is now
following its trend. The main shaft of
the Fraction, Cormei 612 feet deep,
has been Mink to nearly 600 feet, and a
station has been cut at a depth of 750
feet. At this point a strong vein ol
quartz has been cut, but i o ore of
commercial value has yet appeared, On
this level driving ,will begin at once
to develop the vein, and connection will
b< made with thi Clermont 750 work
ings of the consolidated.
The final report of the Consolidated
company's ations In February, just
Issued by Manager J. n. Flnlay, shows
that the net profits tor that moni I ex
ceeded by nearly $6000 the estimates
made early this month. From 23,866
dry tons of ore treated during the shori
month, an average of 853.86 tons daily,
the gross recovery was 1,291, an av
erage of $93.75 per cent of the gold
content. Vet prortts were $485,498. The
total costs and losses are placed at
$10.24 a ton, with net costs of $8.32 a
ton.
Tonnage Increases
The amount of new ore placed In
sight during the month Is estimated
at 51,700 tons, valued at $22 a ton. This
places the tonnage of new ora de
velop< during January and February
at a figure considerably In excess of
the ictraction, both in point of actual
tonnage and in value. The report
points out that development on the
1000-foot level of the Clermont has
been attended by highly satisfactory
results and that an ore body of exc<!
lent proportions and good value is now
exposed on that level, the deepest In
all these mines. Mine car samples have
lately been averaging above $30 a ton
and many of the aaaayi have run to
five and six ounces gold. Another de
velopment of the first Importance has
bePn the opi niiiT of the Mohawk or'
channel on the 750-foot level at a point
about 150 feet to the est of the main
Clermont ore-shoot. At this point the
crosscut has passed through a width
of eight feet of ellent material. It
is said that the character of he vein
on the 1000-foot level of the Clermont
is even superior to the showing at the
900-foot level hei c only the eastern
ore-shoot has yet been devel<
On the Florence the work of enlarg
ing the main shaft down to the soO
foot level la going forward rapidly and
the mill is l). Ing BuppUed in the mean
time with ore from the old Little-
Florence workings to the south of the
hill.
New work of fmi" com
pany is tin- drift nn tt'i O-fool levi I
that Is being drh n through the Little-
Florc rs-Syndii ate terrl
tory to open up ore i"«liis of, large
propori lor exposi d by early
lessee*, and o In ntain
inK ore ol high grade, that was fol
lowed do i for a depth of
sixty feel b< low the 500 levi 1 on the
latter lease. The mine is making an
exi-vllei i i h wing o? pay on and the
Oil Syndicate
Now Being Formed
On 200 acres proven oil land. Must have several parties of good
standing to ass-ist in flotation. Proposition will stand most rigid
examination and will be listed on the Los Angeles exchange im
mediately.
Look Into This
H. G. ELLIOTT 321 I. W. Hellman Building.
JAMES WYNKOOP
Mays Gusher Fame Spreads
to New York Curb Market
s
'•■..': :■ . .';'.:■' . ■ '; ■ f'lii^ ...■;'■, t:'\ ,'"■ ■■■■■/'■■■'•::" V:
«& If' Ifi # Hr, ifpl
MAYS GUSHER, SECTION 30. NORTH MIDWAY
THE exctiement over California oil
stock trading ha I New
York, and there is great activity
on the rurb there. A factor that has
contributed to this is the big well re
cently brough in by the Mays company
in section 80, North Midway. That
company was financed by Sew Yorkers
and the sto.k oii'-e sold at I'l and '"■
reserves of f. r 1 quality an
veloped vi n In ad anci i the mill
requirements.
Company work on the Dlamondfleld
Black Butte has resulted In opening a
strong ore shoot in a wlnxe from the
, ii ,-Ic'it on the north Bide of the
Butte, apparently an extension of the
vein exposed on the Campbell lease
hut bell iv( d to be a poi tion of the
ori i"' ly of this property. The
ore is of shipping grade, and the vein,
which will be sought at greater depth,
i and its i ourse Is now
lj traced for a considerable dis
tance from the old workings to the
point where it has been exposed later.
North of the Black Butte some pay
ore is exposed on the Belmont from
v hich si veral shipments have
made, averaging above $iti» a
i ea on the Daisy are also getting
of commercial quality, and
it la -aid that w oik is to be r< lumed
y on the Gold Coin cl ilm of thi
Jnniho Extension, near Diamondfleld,
which h - yielded high grade ore In
Hi' past.
OLD OWNERS BUY IN
PARKER PROPERTIES
E B. Osborne and c. W. Wardwell,
representing Los Angel a capital, have
repurchased the ft'ardw ell-( isborne
coppi r properties in ihe Parker dis
trict, Ariz.ma. at El reported big ad
, after having sold these mines
to the Empire Copper Mines company
for (100,000.
At the time of the sole, more than
r ago, the property was miles
from lh" railroad and was too far
from ii. : from tr insporta
tion to bi profitably worked without
the Investment of a lame amount of
capital.
The building; of the Santa Fe cutoff,
i:• nga i to Parker, with
the i nmplction of I
. d up ihis part of tl •
Parker mining dli trlci and places the
mine m a position t.i be cheaply
worked.
At the present time the smelter "f
tin' ( ■'
: will be blown In with
it thirty days, Th
luction "i ropper on - « It hin fif
milea of Ihe Wardwoll-* n I
. hence the ore ci n I"*
handled very i hefiply.
E. S. Osbi ■ !■; Just returned to
T.cs An^'i - from .1 trip to t! ■ i .
district in preparation for the Installa
tion of a lino of auti trucks
from the mine r> tl • railroad, ;i <lis
tonce of less than Heven mile . The c
truck- are seven-ton capacity and per
; tin 1 di Iherj "i more than two
i day from the property to thi
railroad.
LOS ANGELES HERALD: SUNDAY MORNING, MARCH 20, 1010.
rent--. Blnce the gusher was brought
In the stock has advanced enormously,
and now is being traded In at $1.76.
The Mays well was brought in a* ■
gusher about two weeks ago, and at
Bow was estimated at
0 barn is a daj. it (lowed spas
modically for about ten days and then
d with sand. At present it Is be
ing cleaned out.
EXPECTS ANOTHER WELL
i.D, .Mar, h 18.- Thi Ad
eline at Maricopa is almost ready to
bring in its well No. 36. All the wells
on this lease are between 800 and 800
fi et In depth, and no effort ever has
been made to reach the lower sand,
the company devoting its attention to
supplying the market with road oil,
this territory producing an ideal oil tor
the construction Of mads.
The market is extending rapidly for
the product, and shipments are being j
made as far north as Seattle and east j
Into Colorado, Arizona, New Mexico
and Texas.
GOLD FOuVd IN WELL
DOUOLAB, March IB.—According to
Tom Whaley, who came In from the
Heffern mine recently, great excite- i
ment exists In the r the dl*
•• gold in :i stratum of
I fifteen feet below the surface of
a well near the big Heftern dam site.
ling t.. Whaley, $.". worth of gold
was i "m a tingle bucket of
gravel. Pre«ldenl Heffern hai staked
rs of placer ground. The gold
panned was exhibited In this <.ity and
( xclted much Interest, a- score* of
Douerl nt« hold stock in the
in mine.
MOTOR GOSSIP
"I think L>C'lt HtritiMK ouarbt to carry
horns."
"And be equipped with ihock absorbers.
P h?" —Loulavllie Courlf-r-.Toornnl. I
Free Map of
Midway
We have two surveyors In the field compiling a complete map of thp Mid
way, North Mid-,- ay. Buena Vista Hills, Marlcopa and Bunsel oil field*.
„,,,,, w iu cover all and be the best ever Issued of these fields, and
. lit right up to tho minute.
Everyone Interested In these fields should have nno of these ma]
t will be malli I ABSOLUTELY FREE UPON REQUEST. Write
for it today.
THF,
G. S. Johnson Company
326-327 I. W. Hellman Bldg.
Los Angeles.
Buy Our Stock!
WHY ?
We Own 640 Acres. Well on adjoining section in oil sand
with big gas How. Oil soon.
Buy Now at
8 Cents
25 per cent advance after Saturday, March 19.
California-Standard Oil Co.
308-10 Homer Laughlin Building.
BIG SESPE APPLIES
TO ENJOIN OFFICERS
WOULD STOP SALE OF STOCK,
ALLEGING FRAUD
Large Block of Certificates Is Said to
Have Been Taken by Defend.
ant Without Payment In
Return
Application was made in the su
perior court yesterday by the Big
i iil company, capitalised at J3.
--000,000, for a writ of Injunction to pre
vent A. V Johns, W. E. Johns, W. P.
Baker, Frank Q. Baker and Prank B.
Bturge, stockholders of the company,
from disposing of 1,860,000 sharps of
treasury stock, which the company
es them of securing by fraud it
:l very low price In order to sell for
their own benefit at a high figure. The
company aIHO asks the court that they
be compelled to return the slock to
the company and that they be com
pelled to pay 12500 each, which th*
plaintiff alleges they owe the company.
The plaintiff alleges that th y i -
cured the 1,660,000 shares by fraud on
a contract whicu calls for a payment
of 2. S. 4. I and 6 cents a share on th
stock in separate I.locks at alffemil
dates. The |2500 each asked is fot
, !ft shares the defendants are al
i to have iei ured without paying
for them.
NEW LOCAL CONCERNS
PUSH DEVELOPMENT
__—_ — —
The Crown Oil company! operating
north of Flllmore. In Ventura county,
la down nearly 800 feet in Iti lirst well, j
which adjoins the Brownstone wells.
The Midway Five Oil company re
porti that it will be driHing by April
l. and expecti to bring In a well, bar
ring accidents, within sixty days. This
company is scarcely two weeks old.
Over $11,000 worth of mai till cry and
casing \vas purchased by the Midway
Five Oil company last week and or
dered shipped to its lease adjoining the
St Lawrence gusher. The latter well
has been cleaned out and li again
flowing.
The OJal Valley Petroleum company
'expects to bring in its tifth well on the
Kern river lease next week. This oom
pany expects to equal the new well i
just finished by the Melwood on the
adjoining ground, which came in at
ninety barrels.
The Rock Island is working vigor
ou«ly on Its lease In Ventura county,
on the Big Bespe creek. It Is prepar
ing to §pud in well No. 1.
ii. as hit to «ecur» a bariraln In « u»M
aotVinoMl*. through w»nt .d,srtl«ln«. v It
BMd to be-and (till l»-to »<wur« a horn
an<l earring* _____-_____-__—
International
Pacific Oil Co.
Your opportunity to buy stock
at 25c per share in a company
owning 3JO acres of proven
oil lands in Devil's Den and
North Tremblor districts.
Drilling operations on two
welis begin at once. Call for
our prospectus.
423 Citizens Nati Bank Bldg.
Phone F4350
PRESIDENT HENNINGSEN SAYS:
#1 "We expect to be drilling by April Ist. We hope to bring in
our first well within 60 days from the time we start drilling. < #
SUCCESS ATTENDS EVERY STEP WE TAKE
Our MIDWAY S OIL CO. was quickly organized with strong men at the helm. Our first an
nouncement of the proposition broughi ma»y inquirers eager to invest. All that they cared lor
was to LOOK AT THE MAP and then to LOOK US UP. v^ : > v V V::
Our location is in the very heart of the most valuable portion— cream of the Midway dis
trict. "Amidst the Giant Gushers." Every oil man who knows the Midway held, or anyone who
has seen our ground is positive that we will strike a Gusher. \\ c are between the St. Lawrence
and the Santa Fe, on direct line with the United Xos. 1 and -'.and not far from the California Mid
way and the Mays Gusher— the latest and biggest of_all. You cannot get into a better company
operating in a more promising legion than MIDWAY 5.
■• • The same oil sands underlie our ground which have been penetrated by fortunate oil drillers
on both sides of us. We judge that we shall perforate the same oil-bearing sands at a depth of
1600 to 1800 feet. There is every reason to expect that we shall bring in another usher in
quick' time. Our officers are bending every effort to make progress with all speed. Look at this
profile map and see what are our prospects of success.
-'"" ' SANTA FE' —h-— ■ : ■*T^A TV J JT*\. ,
CRANDEU. KGH?, Hff \/{\ L/VY./Al C^ ST.LAWRENCI
GUSHES' 1+ n CALIFORNIA |V 1* JU'^ ftT^ * * 1 /OL^HER
\S$pA 1 MIDWAY oil " Iro S' It AMERICAN
-V IP JI i I OUVT R V/ 11— H V-» VA JJ IH |L FIELDS
W are as cer&ln to itrlke'oil as we nre to boro the well, it will not take long to provo our Rnnina. There
will be no lelay Our lumber was on the ground a week ago. Our workmen are hurrying up tho "lck. A
romplete Btandard drilling equipment and two .'arloada of caalng (costing over $11,000) have been bought and
will be shipped this week. We export to be drilling next week, Sixty days ought to ace our drill point per
forate the main oil saints. THEN FOX A OUiHBK.
It is already our plan to DRILL ONE WELL AFTER ANOTHER UP TO THE FULL
CAPACITY OF OUR LEASE. To carry out our plans we shall sell a
LIMITED BLOCK OF STOCK AT 25 CENTS A SHARE
You must move rapidly to get any of it at that price. We cannot reserve stock for any length of
time. We allow no discounts from the set price of 25c a -hare. We accept no installment pay
ments. CASH COUNTS. Come in tomorrow. LOOK US UP.
/ MIDWAY 5
wk Sff • B WKP mT^%^ m Jr^» x '•■'"Eh"n b1(1b. i>"»
flwSTI^a^EJ JT'^^RJT S WM B A^^B^ X i;o"u-'m"n: ' hereby
lfliyWeiy J v/ll / i^#ss«
qJ f WAV 5 Olli CO. utocK at
*^ a nhare, and enclose I
622 Laughlin Bldg, 315 S. Broadway X" ' mfnt
Phone F 302 LOS ANGELES / Air Z2Z""""'."'.Z
Gushers
A new oil company is being
organized to operate in the cream
of the Midway-Maricopa Oil Fields
—in the giant gusher territory.
We offer a small block of pre-organi
zation stock to cash buyers only. We
shall open books for subscription at 5c a
share on Monday morning at 9 o'clock.
First come, first served. ~ This is an ex
ceptional chance to get into the Midway-
Maricopa Oil Field on good ground with
a good company.
If you live out of town, use this blank. I.llX6l*ll3,tlOHSll
International Investment Co., ■»• A A_ ■f^
1012-13-14 Union Trust HMg. 1 f-| ■\7'£lCTtT'| f*t\ T f iH
Please book my subscription tor M.M.M. V V/CJ tillV/JLX V V^V/»
shares in your Midway-Maricopa Oil Company ,;
at 5c a share. Inclosed find t
as paid in full. 4i\l/\ 4 4 ¥T • HP x TtU '" •
1012-14 Union Trust Bldg.
Name
£o^. ' 1 Fourth and Spring Sts. LOS ANGELES
Herald Want Ads Are Best
PART 11

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