Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1904-10-15

" 1919
Whether these values will extend
in depth remains to be proven. Time
and development only can tell this
story. No one can see under the
ground beyond the point of a pick,
hence the claim made today by many
that the values will continue to a
great depth cannot be disputed.
1t is claimed by the biologists 1--WE
understand that these deposits,
lenses, shoots, pipes, or whatever
you may call them, + secondary
enrichments, and are therefore bound
to be short lived in depth. That may
be true, but after it is all said, "Gold
is where you find it," and not always
where it should be.
REMARKABLY RICH ORE.
A further illustration of some OF
the values realized from the working
of the ores in this district, three car
loads Of ore were shipped recently
which showed a value from the smeIs
ter of 81, 500 per ton. We also saw
sixty sacks of ore, weighing about
one hundred pounds each, from which
they expected to realize from the
paintings over $500 per sack.
AT T%onopah, Goldfeld and the other
districts heretofore mentioned, it is
not a question of getting ore to ship,
but one OF obtaining cars and teams
to ship the ore in. In other words,
it would take three times the present
facilities to handle the present pro-
duction.
The Tonopah railroad has been a
great benefit to the district around
Tonopah, and when it is extended to
Goldfeld, which the company con
templates doing in the zeal future,
it will still further help the develop
ment of the mines.
We have herin dealt generally, and
not specifically with the various dis
%tricts, believing that you would pre-
fer to know the conditions as a whole
and not the details.
Some OF our members may believe
that IA credulity had been worked
upon. knowing as they must that we
had to rely upon the statements OF
values made Except a few instances
where we did some panning ~ourselves)
but our answer is that when you ara
shown the smelter returns, together
with the statement of bankers and
business men of the amount deposited
to the credit OF the various leasers
and companies, for known amounts
of r shipped, they must admit thai
we have had data sufficient to base
our statements upon.
The question naturally suggests it,
self, why are these mines not pay.
ing dividends il they have such high
values and large reserves?" The
true answer being, lack of power
principally, and also the lack o
water and shipping facilities. Thes,
conditions we are informed will soor
be overcome.
In view Of the foregoing, we you
committee, beg leave to recommend
that many of the mines in these sew
eral districts should be listed anC
regularly called upon our Exchange
That you should first, however, OBJ
tain from each of the mining com
panies a statement signed by tn,
proper officers of the amount of theiI
capitalization, the stock already dis
! posed OF and the amount ON hand il
/, the treasury.
That you should find out through
some representative sent by you tn,
condition OF the work being done, AM
whether they are being legitimatel,
, opened up, and thereby protect tn,
: investing public.
II the above recommendations ar
adopted we believe that a new inter
, est will be awakened and that bene
fetal results will accrue, not only t.
the mining interest but also to on
Exchange.
Respectfully submitted,
A. B. RUGGLES,
S JOSEPH MARKS,
a w. C. RALSTON.