Show THE montgomery SHOSHONE miner tonopah To nev donald B gillies general manager of the schwab mckane interests returned thursday evening from new york where he spent a fortnight in connection with the purchase by mr schwab of the montgomery shoshone and shoshone polaris properties A representative senta tive of the the miner yesterday called mr gillies attention to the advertisement of weir bros co in the new york commercial of last saturday in which that enterprising ter firm of brokers offered to eastern investors shares of the treasury stock of the montgomery shoshone consolidated mining company at 20 a share after reading the advertisement carefully mr gillies said 1 I wish to repudiate this announcement in the strongest language I 1 can use it is absolutely without authority from mr or 0 r any of his associates mr schwab bought the montgomery interest in the ery shoshone and in the ane montgomery polaris representing about 70 per cent of the stock mr schwab and mr mckane already owned control of the crystal A holding company was formed called the montgomery sho shone consolidated mining company and capitalized for shares at 5 a share the combined capitalization of the old companies was instead of increasing the capitalization mr schwab reduced it 60 per cent the first important step of the new company will be the erection of a large stamp mill work on this mill will be commenced immediately we will not even wait until the railroad is completed orders for the machinery will be placed within the next ten days and the foundations for the mill will be constructed at once eighty stamps will be put in now giving a daily capacity of and ultimately the number of stamps will be increased to with a capacity of about tons a day in addition to milling the low grade ores the high grade ores will be shipped to the smelters shelters sm elters the dark clark road will be completed to beatty not later than the first day of may and we will ship our ores to salt lake over that road the development of the shoshone and the polaris will be pushed as rapidly as possible we will put in first motion hoists something that does not exist in the new mining districts of nevada at the present time we will use oil for fuel it will be the policy of the company to treat at its mill all custom ores that independent mine owners may care to ship to it and at a very reasonable price it is mr Sch intention to do everything possible to stimulate the mining industry in southwestern nevada no ore will be b shipped until the railroad reaches beatty twenty tho usar shares of the treasury stock will be sold to provide for the erection of the mill but 1 I can state emphatically that here will be no stock jobbing such as that outlined in the ridiculous advertisement of weir bros co fl in justice to weir bros co it should be stated that since the foregoing was written the miner has received a copy of last mondays new york commercial in which these enterprising brokers announce that our solicitation of subscriptions to an issue of treasury stock was made under a misapprehension ion and is hereby withdrawn |