Since the Gold Sovereign Mining and Leasing company adopted the leasing system considerable work has been performed on its Bull hill estate and there is hardly a foot of ground belonging to the company that is not under actual development.
The leasing system, in the case of the Gold Sovereign, is proving advantageous to the company, for the net profit, which is in royalties, amounts to about $250.00 per month, which is being added to the company's already fair treasury reserve, now amounting to about $14,000.00.
Lessees are now producing ore from four shafts and they all pay a flat royalty of 25 per cent, on all ores shipped. The company owns six acres of territory. The main shaft is 550 feet, having been sunk 100 feet during the past year.
The lessees are producing about 100 tons of ore a month that will all average $20.00 per ton, which makes a fair monthly output from the mine.
The company's property is surrounded by such mines as the John A. Logan, the Blue Bird, Dante, and the Ben Harrison.
The company is officered by some of the strongest men of the camp, they being composed of the following well known mining operators:
A. E. Carlton, president and treasurer
E. C. Newcomb, vice-president
Walter Rock, secretary and general manager.
The officers, together with;
George P. Pry
Edward Sharp and
W. A. Delany
form the board of directors that manages the affairs of the company.
The estate of the company is situated on the southwest slope of Bull hill and is right among a number of mines that have produced a large tonnage of ore.