Show I r i GREAT RESERVES OF OFf PRODUCERS f Enormous Width of Ore Bodies Tells for Long Longi J Production i I NEVADA EVADA HAS EXAMPLES i Long c Periods Reasonable ft I k l c cI Certainty In II Many hl J L Leading ading Properties S Copper mining has hns gained the thc confidence con con- of oC the thc American people largely large large- h I ly 13 b because sc ca copper ore bodies hOtes are 0 of f great size guaranteeing long life lle lc to tob the mineR Calumet Hecla for InT In- In In Instance 11 b T tance stance ha has been liten producing for Cor forty f years ears eI and Is looked cd upon as an nn In Investment Investment In- In vestment more permanent and reliable reli rell- f t able than some railroads Investors In have e a genera generally I contended that 5 stocks should sell sl on a not v lo low lower t er ll than 10 per pel cent The The Fhe contention f c I was as as questioned in Iii a n wel well presented argument quoted In Iii a a. recent Issue of off f ct the Minim Review Hc nud it I Is not Im hn- il possible that in ca eases cases es where ore OC f for r 7 mn many years rear Is in Insight sight copper stocks ma may sell sel at higher prices In proper proper- proportion j i ion tion ton to dividends With Wih gold goll mining In general the sit sit- sl- sl c. c nation Is different because with wih rare S- S exceptions reserves have ha e not been heen blocked out for fOl many years ears ahead i t. t lint but lut the ilie Treadwell In Alaska the t t Homestake In South Dakota the Yellow Yellow Yel- Yel r low Aster In California r might ht serve as a examples example of oC gold mines with reserves S so enormous that thai many years must pass pasq before their loii can fall all al They lw are ae Industrial en enterprises en- en el- el of o rare merit and can be 1 affected d by ly no depression dr or r dangers to lo which ordinary commercial commer cial enterprises arc are subject n To lo 10 Enter that Class Cla Clas if Thee There arc are now under development In IN e a. a more than a few mines which c. c promise to enter this class clas of oC longtime longtime long long- 4 time pro producers and cause because of the great grot width of or their ore bodies lo ies Of or these thue tho time In Inthe Ii th the Bullfrog district is probably the most advanced ad as n to lo tonnage actually f exposed though some others are arc t rapidly approaching It In Importance The great ore ho bodies les of the are aro over oyer 50 ro 0 reet et wide At Goldfield Gold Gold- Goll- Goll t k held field nei In the Hayes Monnette Haes lease on the the Mohawk tho the ore hotly body holy has hm been heen 1 exposed recently for Cor a wl width th of oC 75 c feet The Florence vein is known to contain vast ast ore reserves In the time mine at Searchlight the tho pre ore lod body Is Is in il places 10 feet wide ide and nd Is opened to 1000 feet depth Enormous tonnage may be lc very VCr rapidly rapid rapid- 1 ly Jy developed In iii II such mines as the these c guaranteeing long pro productive periods I and nn It I Is this feature of the gold min mm- mining I ing situation In Nevada Ne which In the thelast thelast last analysis Is most propitious I In a recent I issue ue we printed a statement state state- ment nent concerning tho the Quart tte le mine mineal al ill t emanating from authoritative au- au authoritative au aU- sources In no Boston ton an and which shows the stock to be hc a high high- lass class clas Investment In security Figures Figure's concerning the thc ore reserves were not nol given n but bul the mine is credited amnon among those well vell wel Informed at Searchlight with net in sight which r In view of or the large amount of oC development de- de work accomplished Is probably conservative conser c. The Tho com company pan has 20 O stamps dropping an and Is crushIng crush- crush H Ing about 70 tons a day a V r T ent Twenty Years A I cd 1 On this basis the thc mine has an asuel as- as uel life of oC 20 O ye years rs In Independently of M further development dc and an as a the management nt very vely wisely grades s 1 tin tin- Il ore nrc rc in such proportion n taht mill mm re returns returns returns re- re turns fairly represent tho the average value of workable ores exposed divi- divi dennis donds may ho bo reasonably expected lobo lo to j bo be lo maintained for Cor an au In Indefinite period I The enterprise e is now paying about aboul IS Ig per cent to lo Its IR shareholders shareholder and andi i J r It would be difficult to find a D rail rall- ml- ml r way war manufacturing commercial or even an agricultural enterprise for which such uch stead steady reliable production tion Lon may bo be predicted as for this gol gold property properly during the next score scole of oC years al With Ith a n eon conservative e and able alle management Its Is product cannot be lo affected at- at b by good times or bail bad lal there thee can be no over supply nor decrease In lX J price competition nor other otier I T J- J rj Thu rho nu fact that nat a score or more of or j.- j. gold properties In Nevada contain ore Ole bodies lolles of great wl width Ut good len length th t i which m may reasonably l be exp expected to go deep dtp gives promise of oC tho those l Immense Im im- mense menso ore re reserves S 'S l by which alone alne time long production ma may lc be a assured aured uret In such uch mines the speculative feature becomes a negligible quantity arid and f the question queston of or market values ot of securities PC- PC c- c resolves itself into a matter matler mat mat- ler ter of or arithmetic Investors Im In mining miling J shar shares H who accept the net value of oC ore oreIn oreIn In sight bight as tHI properly propel representing a aA A sinking tumid fund to provide for returns of oC capital besides a t fair rate of or inter inter- Inter Inter-I est ft cnn can with wih 1 reasonable certainty certainly exI expect ex- ex I a further profit from rom ruin new W ore I discoveries Los LoR Los Angeles Mining MIming Review Re- Re j view view- Ic |