Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1903-08-08
some CAMP NEWS
VIA QUAKER CITY.



firm of Philadelphia, publish week
ly Tonopah letter. They usually give
some leading mine of the camp the
place of honor in the letter and then
follow it by booming some undevel-
oped property whose stock they
probably have the exclusive right to
sell. Their last circular, published
on the 9th ult., attempts to tell
something about the Tonopah com
pany's mines; states that they are
still in the course of development;
that mining has not yet been under
taken on large scale, though en-
gineers admit that SIS, 1000, 900 is
blocked out and that smelters cannot
handle the ore in large quantities be-
cause of its silicious nature. The
part of the letter referring to the
big company is reproduced because
it is a fair sample of the literature
that emanates from the greater
number of the agencies in the east
that handle western stocks, and
while it may may be productive of
good, it don't look so from this end
of the line, where it is known
that the statements are either such
gross exaggeraticns that nobody
will believe them, or they are facts
so violently distorted that they can
not be understood. Following is the
letter:
"At the current curb quotation,
Ct to Z, Tonopah mining stock repre-
sents a selling value of about 81 900,
900, there being 1000, 900 shares OF
common and 100000 of s per cent
preferred, the latter not being
traded in the market.
THE company is still in the devel-
opment stage, being obliged as yet
to transport what ore is being taken
out sixty miles before reaching a
railroad, and so far mining has not
been undertaken on a large scale, the
engineers having blocked out what
is estimated at upwards of $l5, 600,
600 of ore.
This is the work which John Hays
Hammond laid out last November,
and when he went west in the spring
he was to form his opinion as to what
should be done, including the method
for the company to treat ore instead
of sending it to the smelters all abou,
the country.
But Mr.. Hammond's ILL ess pre-.
vented his making the examination
or even reaching the property, and
since his return from the west, in
June, he has continued seriously ill.,
and is at this time. His assistant
who was i'll from the same cause
ptomaine poisoning, recently died.
People informed about the prop
erty admit the ore is highly siliciou:
and for this reason the smelters car
take but small quantity at a time
With a lead reduction works and a
smelter of its own using lead ore as q
flux, it is claimed that the company
would have no difficulty in treating
its ores in large quantity.
1.-THE company thus far has not
entered upon building an expensive
plant for operation, the equipmen
of the property being stated to be
limited practically to some ore sheds,
hoists, etc. (The etc probably
includes the new SIS, 900 steel plant.
-ED.) The officers point out that
all the money which has been used
for the development work has come
out of the property. After spending
for such purposes 1926, 600 out of the
receipts last year, the company pu,
by, it is stated, 1923, 900 in bank.
work has now been commenced
on railroad to reach the mines by
company in which Philadelphians
are interested. 1t is proposed to
connect with the Carson & Colorado,
n hrapoL ~ tha Cn,+boc,, D,o:s ~