Show ACQUIRE INTEREST IN SOUTH NEVADA gold property near las vegas creating excitement cit ement in mining circles age las vegas nev the big mining deal pending on the property of the south nevada gold mining company ever since the big strike of high grade was made in february has been closed by its terms the big four of the dark clark county land company and the winterwood land company olli pany have purchased a very large interest in the south nevada gold mining company paying therefore a sum which would be considered a handsome fortune by most the age is able to state positively that the deal is closed A week ago the capitalists were in vegas with their mining engi making a final examination of the property they were met i in n this city by dr G W hillegass of oakland and mr P who are the owners of the largest interests in the south nevada and accompanied to the mine after making a final examination the principals in the deal left for oakland cal where the details of the big transaction were closed by its terms mr john C winter and john M prophet both residents of mount morris N Y charles H palmer assistant engineer of the ely consolidated at ely nevada and W J latchford of this city become the owners of an interest in the property thought to approximate a half interest the big four have been active since this property was first brought into the limy light through the strike of high grade or ore in their efforts to acquire the property or an interest in it and this deal is the strongest possible proof of the value of the mine As soon as the details can be worked out and the plans perfected work on this property will be begun on a large scale in blocking out the ore bodies already in sight and this will be followed as soon as may be by the construction of a modern milling plant of large capacity for working the ores that the south nevada will become one of the important mines of the state is asserted by those best informed on teh situation the effect of this strong combination of capital actively engaged in mining almost in the front yard of vegas will have an immensely important bearing upon the future of both the city and the county since las vegas was established by the sale of lots in clarks las vegas townsite not quite seven years ago it has been known that the fhe ranges of hills surrounding the city were store houses of mineral wealth yet with one or two exceptions the south nevada gold mining co being the most notable there has been little or no capital available for mining development the result has been that mining development has b ben n confined mostly to the single handed ef forts of prospectors in doing their annual work to hold the claims until capital should be available for sinking to such depth as is deemed necessary to prove the properties to mr paul the mining engineer under whose pres onal supervision the great work of the south nevada gold mining company has been prosecuted almost continually for the past seven years to his ability as a mining engineer and to his loyal steadfastness and faith in the property during the discouraging periods of its development is due in a very large measure the great success which has attended the enterprise ter prise during the seven years mr has devoted his time his money and his best efforts to the property and he is deserving of the respect and appreciation of las vegas in a high degree dr G W hillegass of oakland cal is also entitled to the thanks of the community for the loyal manner in which he with his associates have poured out their wealth to carry out the plans of mr the company has spent in work a sum close to to do the work necessary to place the property in its present commanding position of the big four the men who have already shown their faith in the vegas valley by undertaking the work of irrigating and cultivating a small empire of acres of land it may be said that they are not afraid to back their judgment with their money and have ample capital to carry out the extensive plans for the future of the property already mapped out mr W J latchford is the best known of the four to the people of las vegas through his rare good judgment in seizing the opportunity to acquire a large body of the best land in the valley at a time when it could be purchased cheaply and his untiring energy in planning and carrying out the extensive improvements prove ments albrady mare the las vegas valley has advanced faster in development during the past year than at any other period in its history john C winter and john M prophet both residents of mount morris N Y have both the money and nerve to carry out large enterprises they are men ot ol wide business experience and mature judgment yet full of energy and action associated with them is mr charles H palmer assistant engineer of the great ely consolidated mining co at ely nev who has examined the south nevadas property and upon whose judgment and advice as a mining engineer the other members of the syndicate relied in carrying out this latest deal we believe this transaction will groove to be one of the most important to las vegas of any in its history it will not only by the employment of a large force of men in the mine and mill but by attracting the attention of capitalists to other properties of great promise bring about an assured area of prosperity for this section |