Business: Jumbo Optioned

Staked by two hard-pressed prospectors m the winter of 1935 in Nevada's Slumbering Hills northwest of Winnemucca was a gold claim now known as the Jumbo Mine. For $10,000—$500 down—the Jumbo was sold a few months later to one George Austin, a grizzled oldster who ran the hotel and general store in a nearby flag stop called Jungo on the Western Pacific". Jumbo ore assayed as high as $1,495 per ton. Other members of the Austin family staked adjoining claims, signed an agreement among themselves not to sell out except as a group for 50 years. With primitive equipment the...