Tonopah daily bonanza. [volume], November 12, 1907, Image 1

About Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929

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onopah Daily Bonanza
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VOL. Ill NO. 1;
rONOPAU NEVADA. Tl'l-SDAY MORNING. NOVKMBKIt IS. 1907.
ntlCE 10 CENTS t
SMRW P0TS OUT I
BY
TO STOP
MONEY
STRINGENCY
Wit
Former Secretary of Treasury
Unburdens Himself of Sage
Advice on the Subject of
Elastic Currency.
By Associated Press.
NEW HAVEN, Conn., Nov. 11. Former Secretary of the Trea-
sury Shaw delivered an address before the chamber of commerce
here tonight in which he said the only weakness in the nione-
tary system of the United States is that the currency is not elas-
tic enough. He said there were indications as early as last Aug-
ust that people were withdrawing money and locking it up. The
increased activity incident to the return of business men from
their summer vacations, ripening of crops and inlaying of stocks
of merchandise caused an unprecedented demand for money. Had
the national banks been empowered to issue additional circula-
tion equal to 50 per cent of their capital without depositing se-
curities, but subject to tax of 5 per cent, an aggregate increase
of $400,000,000 would have been possible. He said the people
would not have carried away for concealment a national bank'
note as quickly as they would gold, thus leaving that currency in
circulation.
TOiWA
SEQIO
Encouraging News Brought
From the Coast-Will Be
Big Demand By People
Looking for Investments.
"The Mohawk mine never could be compared with the Fairvlew
claim of the Seven Troughs company. They could take out a
slice from the ledge on one of the levels, and there would be
more money in It than was shipped all together from the
Hayes-Monnette lease on the Mohawk." ,
This is the expression of C. H. Mcintosh, who has just returned
from Seven Troughs after makinrr an inspection of the mine.
"I heard much of the Seven Troughs while I was in Love-
lock," said Mr. Mcintosh, "and what I heard I could scarcely
. believe, so I went out to look for myself. I hadn't heard half
of what there was to be seen. I am at a loss to express myself
regarding the showing. It was simply marvelous. Rich does not
convey an adequate meaning of the condition of the shaft. They
have made a station at every fifty feet, and at every station they
have followed the ledge and stripped it for a distance of 200
feet, and have not yet got to tha end of it at any level.
"They have, to begin with, a strip of from six to nine inches,
samples from which I had assayed myself, and the result was
$122,800 a ton. Next to this strip is one of disintergated white 4
quatrz which for a width of from twelve to eighteen inches
4 wide, goes $800 a ton. Then comes the big vein of grayish blue
talc, which goes from $80 to $200 a ton.
"They have this same thing on every level. When they make
4 a shipment from this mine, it will be one to talk about, for they
do not intend sending any ore to the smelter until the financial 4
situation is straightened out, and , in the meantime, they are
packing the rich stuff away. This is only one mine in that won-
derful district, and there are others which give almost as high 4
4 promise. The Kindergarten which is two miles away, has de- 4
veloped a three-foot vein which will net $250 a ton. In fact,
4 they have shipped five carloads already, which has returned this 4
amount.
"There are four towns which have sprung up In the district,
and the town of Lovelock, which Is the railroad distributing point
4 for all of the country, has developed into the liveliest kind of a
town. It is naturally an agricultural center, having the richest
4 kind of a country behind it, and with the added business of '
four mining camps, the improvement In the town can be imag-
Ined." ,
LABORERS' PAY
IS REDUCED
(By Associated Press.)
BAKERSFIELD, Cal., Nov. 11.
Twenty-five Mexican section hands
were laid oft by the Southern Pacific
here today and the pay of the re
maining laborers . was. reduced from
$1.50 to $1 per day.
IIS
EWE
CANADA LOOKING
INTO IMMIGRATION
VANCOUVER, B. C, Nov. 11.
Inquiry into- oriental immigration
was begun here today. Commission
er King questioned the latest arrivals
of Jhe .empress of India regarding
what inducements were held out to
them to come to Canada.
MARKET
BECOMES
ACTIVE
COMMISSION' HOUSES REPORT
ORDERS FROM QUIF.S
CEXT SOURCES.
(By Associated Press.)
NEW YORK, Nov. 11. There wai
an apparent activity in the buying of
blocks in the early part of the day
and commission houses reportol
that orders came to them from
sources that had been quiescent for
several weeks. It was supposed there
were some ventures on margin, such
as has been precluded ever since
financial conditions first became
acute. It was also obvious that the
closing up of uncovered short cot
tracts played a part In the upward
movement of prices. Buying did
not follow up advances with any an
imation and the market sank Into
r.lmost stagnant condition after buy
ing had spent its force. Conditions
!n Wall street are working out to the
satisfaction of banking and financial
authorities.
DANK CASHIER
IS DEFAULTER
NORFOLK, Nov. ll.The Peo
ple's bank of Portsmouth went Into
the hands of a receiver tonight. The
cashier had defaulted.
Los Angeles Flooded
With Spurious Paper
(Special to the Bonanza.) 4
LOS ANGELES, Nov. 11. Tills town is being flooded with 1ml- 4
tations of the clearing house certificates, and the counterfeits 4
have become so numerous that the department stores, and the 4
general run of the merchants are refusing to take the bank paper. 4
The certificates are very easily counterfeited, and it Is the gen- 4
eral impression that there is more than one person engaged in 4
the task of making the Rimi-tnim
SOUTHERN PACIFIC
CASES POSTPONED
(By Associated Press.)
SAN FRANCISCO, Nov. ll.The
twenty-one cases against the South
ern Pacific for cruelty to animals in
the United States district court was
continued by Judge Dehaven for two
weeks in order to get the testimony
of all cases together. It is alleged
they carried cattle, sheep and swine
twenty-four hours without water.
PRESIDENT WILL
REVIEW THE FLEET
By Associated Press.
WASHINGTON, Nov. 11. Rear
Admiral Evans, commanding the At
lantic fleet, conferred with naval of
ficials today concerning details con
nected with the movement, of the
fleet to the Pacific.
The president will leave Wash
ington aboard the Mayflower to re
view the fleet. He has invited Secre
tary Metcalf and Admirals Dewey,
Brownson and Cowles to be his
guasts on that occasion.
i()KS TO NAVY YARD.
(By Associated Press.)
WASHING-ION, Nov. 11. Cap
tain D. H. Mahan has been detached
from duty as commander of the In
diana and assigned as captain of the
navy yard at Puget sound.
GRAND
JURY'S
DRAGNET
SALE OK NKW VOKK FKHRY
WILL RE PROBED BY
THAT ItODY.
NEW YORK, Nov. ll.The
sale of the Wall and Cortlandt
street ferry by Anthony N.
Brady to the Metropolitan
Street Railway company for
$963602, and the division of
the proceeds of the sale among
William C. Whitney, Thomas
F. Ryan, P. A. R. Wldener,
Thomas Dolan and William L.
Elkins, and the firm of Moore
and Schley Is to be investigated
by a grand jury to ascertain
whether or not crime has been
committed. Witnesses have
been summoned to testify next
Wednesday. ' 4
44444444444444444
LIMIT IS FIXED
FOR PRIZE FIGHTS
LOS ANGELES. Nov. 11. The
city council today adopted an ordi
nance requiring that prize fights
shall not be over ten rounds. No
referee in the ring and no gloves
lighter than six ounces.
FEAR EPIDEMIC
OF SMALLPOX
(By Associated Press.)
VALLEJO, Cal., Nov. 11. Owing
to smallpox in Benecia the board of
health here today declared a quar
antine against that city. The Union
hotel in Benicia is quarantined.
Eight persons are there now. There
were forty when quarantined and
the board declares that these had
been exposed and fears an epidemic.
THIEL'S TESTIMONY!
IS ADMITTED
(By Associated Press.)
RATHDRUM, Idaho, Nov. 11.
After S. C. Thiel had testified in the
trial of Steve Adams today regard
ing the arrest and confession, At
torney Darrow objected to the testi
mony on the ground that the confes
sion had been obtained by threats
and promises of immunity and re
ward. The objection was overruled
and the testimony admitted.
'4
4 THE METAL MARKET. 4
4 NEW YORK, Nov. 11. 4
4 Lead, weak, $4.45 and $4.75; 4
4 lake copper, weak, $13.50 and 4
4 $13.75; silver, 58.
TROUBLE
OF SHORT
DURATION
CREDIT MEX TAKE OPTIMISTIC
VIEW OF F1XAX(TAL
DISTURB A XCE.
4
By Associated Press.
INDIANAPOLIS, Nov. 11.
The directors of the National
Assoication of Credit Men, the
largest commercial organiza-
tion in the United States, met
here today and adopted a res-
olution declaring that informa-
tion is to the effect that gen-
eral business conditions are 4
fundamentally sound and that 4
the present financial disturb-
ances would be of short dura-
tion. The association called on
members to support one an-
other. 4
Marvelous Richness
Of Seven Troughs
4
4 San Francisco is after the stock of the Tonopah mines, and the 4
4 demand for them is not confined to the street speculator, but it 4
4 extends to the merchant and business man. 4
4 This is the encouraging news which was brought from the 4
4 coast yesterday by C. H. Mcintosh, who was there on business 4
4 for several days, and who had the opportunity of talkin with 4
4 men In all lines of business, as well as a number of the brokers. 4
4 "Not one, but several brokers told me," said he, "that there 4
4 were men coming to them all the time with exchange on New 4
4 York, with which they desire to buy Tonopah stocks. They left 4
4 it to the judgment of the broker what stocks they should buy, 4
4 but unfortunately the orders could not be filled for the reason 4
4 that the exchange would not be accepted by the banks. 4
4 "This, to me, was one of the best signs of the times with re- 4
4 gar'd to Tonopah. But it did not stop at this. I met many bus- 4
4 iness men who told me that they were buying the stocks of this 4
4 camp, buying Tonopah Mining, Belmont, Montana-Tonopah, Mid- 4
4 way, Tonopah Extension, and the Jim Butler. I told them that 4
4 in my opinion that they were doing a wise thing, and that it 4
4 would be my advice to them to hold on to the stocks for invest- 4
4 ment, and I found that that was what most of them were doing. 4
4 That was another thing that looked good to me in regard to 4
4 Tonopah."
ISLAND TROOPS
TORE INSPECTED
(By Associated Press.)
WASHINGTON, Nov. 11. Troops
from the United States en route for
service beyond the sea will hereaf
ter be subjected to a close medical
examination and must be provided
before embarkation with certificates
showing that they have been inspect
ed and are protected against small
pox or other infectious diseases.
ANTI-CIGARETTE
LAW INVALID
(By Assoicated Press.)
SPOKANE, Nov. ll.The anti
cigarette law, which banished that
kind of smoking from the state of
Washington, was leclared invalid by
Judge Sullivan of the superior court
this morning on the ground that the
title does not conform to the body of
the act.
STOCK EXCHANGE CLOSED.
(By Associated Press.)
NEW ORLEANS, Nov. 11. At the
request of the clearing house the
Louisiana stock exchange today de
cided to remain closed for one week.
Two shifts hWve been put to work
on the Elliott lease of the Mazuma
Hills Extension Mining Company.
EXTRA
SESSION
LIKELY
GOVKRXOR OF CAUFOKXIA TO
DECIDE BY THE EM OF
THE WFiK.
(By Associated PresaL)
SAN FRANCISCO, NovY 11.
Governor Gillette, who ' ar-
rived from Sacramento this
4 morning, said after a short ,4
4 conference with bankers and
4 city officials that he will de-
4 clde about the call for an ex- 4
4 tra session of the legislature 4
4 before the end of this week. If 4
4 he calls it, he will call it for 4
4 next week. The call will pro- 4
4 vide for an amendment to the 4
4 code making it possible for the 4
4 courts to hold trials during 4
4 special legal holidays. 4
EXPLOSION OF
GIANT POWDER
MARYSVILLE, Nov. 11. Four
tonB of giant powder en route to a
Western Pacific camp from Oroville,
after being precipitated from the
wagons by bad roads without ex
ploding, was Ignited from a fire made
by teamsters and all exploded wltU
terrific force. The teamsters es
caped, but four other men were bad
ly Injured.
SHOE EMPLOYES
ON HALF TIME
(By Associated Press.)
MARLBOROUGH, Mass., Nov. 11.
Twenty-two hundred employes of
the three shoe factories of Rice and
Hutchlns were notified tonight that
half-time schedule work would be
inaugurated tomorrow and continue
tor Indefinite period.
TWO LIVES LOST.
By Associated Press.
IQUIQUE. Chill. Nov. 11. Two
lives were lost In a Are yesterday
which destroyed a large portion of
the poorer residential quarter..
. Undr the management of Charles
R. Murdoek extensive developments
are taking place on the Fairvlew
Eagle's Neat,
S ' -.. :