Mohave County miner., 1901-03-02

ness principles. Those who own them
and who know their merits are not
anxious to dispose of their
holdings so long as the returns afford
good interest on the cost of the plant
and the workings of the same. The
best mines are not always those that
carry the highest percentage of metal.
Really rich rock has never been found
to be abundant in any locality, aud |
where the life of a mine depends on
such deposits it is never of long dura. |
ton. Mines that give the most salts
faction are those that can boast Of the |
quantity, rather than the quality, of
their ore deposits, provided the grade
is not too low to admit of a profit un
der economical working. Such mines
have been found in various parts of
the world.
Many years ago a mine Of this char
acter was discovered in South Dakota,
in district that previously was not
considered metal bearing. Operations
were commenced in a modest way, and
after a time we're modestly rewarded.
The work has been continued uninter-
ruptedly all through these years, and
apparently there are many years of
work in sight. The original claim has
been added to from time to time by
/ the absorption of contiguous property
and the expansion of the original cap
ital in payment for the same. The
payment OF modest dividends monthly
was commenced many years ago, and
these have been maintained without a
single break ever since. The managers
have done even better than that. Some
years ago they gave an extra dividend
annually about Christmas time. Not
satisfied with that, later on they paid
two or more of these extra dividends
every year. Even these donations did
not satisfy their ambition long. The
next move was to pay an extra divi-
dend every month, and this course has
been regularly maintained for about
three years.
The last change in the company's
capital was effected in August, 1899,
when the first dividends were paid on
the increased amount For some years
previously the capital was l2,5 0,0O0S
in l25,OOO shares. Upon the last ac.
QUESTION of property just previous to
August, 1899, there was an addition OF
Is,5O0,OOOS to the capital in 5000 shares
This made the total capital 2l,OOOOOOS
in 2lOOOO shares of the par value of
1908 each. Notwithstanding this change
the dividend rate per share was not
affected. nor were the extra dividends
at the same rate disturbed, though the
large increase in the number Of shares
augmented the monthly dividends
from 2,S0Os to 105O)0S. The prudent
managers took these matters into ac.
cunt when deciding upon the increase
of capital. They had not only added
materially to the area of mining lands
by purchase, but had provided for the
increased ore reduction in enlarged
mill facilities.
: In true business-lIke manner the
mine is always exploited ahead, and
the improvements in the workings of
the ores are kept up to date in all par.
ticulars. The managers have been to
work for some time on a new l,200.ton
cyanide plant, which is so far along
that it will soon be started. The plant
will add new source of revenue by
working the trailings which have ac
cumulated. Referring to this improve
ment a contemporary says:
ut is the largest cyanide plant iu
the country, being 345x20O feet. There
are a tanks, for various purposes
which will take care of all the tailings
from three stamp mills, or about :, 400
tons daily. There will be no crushing
machinery. The tailings contain about
l.50s in gold per ton. The company
expects to erect another cyanide plant
nearly as large on the north side OF
Lead hill, mile from the other plant
|. The manipulation of ton of failing;
not worth more than 1.50S, shows that
even the smallest details are not over
: looked. The ore is known as low-grade
, but is free milling. 1t is not intended
that the l.5Js per ton that gets through
, the mills without being caught shall
escape, and hence the erection of the
cyanide plants.
Attention has been called to this