Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1905-07-22
The Montana. TononnIl

At0
Before leaving for his home in
Berkeley, President Knox of the
Montana-Tonopah, was visited by
Bonanza representative and the fol-
lowing interview took place:
Mr.. Knox, In the statement pub
lished in last weeks Bonanza by
Messrs. Dickson, Ellis, Macdonald
and Bartlett, Mr.. Gillies is credited
with having reported that there is
an amount of ore in tonnage and
value, to meet such quarterly diyi-
dends (s1V0,0O0) for a term of six
years to come and this, too, without
taking into consideration anything
except the shipping ore Do you
concur in this statement"
Partially so, yes Mr.. Gillies re-
ported a certain tonnage and values,
which, as that statement sets forth,
was not questioned by any member
Of the board, but was considered a
conservative estimate of tonnage and
values. Mr.. Gillies did make the re-
port on tonnage and values, but, as
| remember it. certain members pres
ent made their own calculations as
90 the number of dividends ii would
pay, without taking into eonsidera-
ton unavoidable Interruptions in the
production of ore, sinking of the new
shaft and expensive equipment for
the same, etc. Granting, for the sake
Of argument. that Mr.. Gillies report
ed all that he Is credited with rela-
tive to dividends, my friends were
opposed to outlining a policy at that
time, because Mr. Gillies had re.
signed and asked to be relieved July
/, and his successor had not yet been
chosen. We contended that the dec
laration of a dividend should be de.
layed at least two weeks or month
in order that we might have an op'
portunity to choose new superln'
tendent and then outline a policy
based on his opinion, rather thar
upon that of the outgoing superin
tendent. Mr. Gillies ambition tc
make Montana-To Tonopah a dividend
payer before he should leave 1t is {
most laudable one. and no fair-mind
ed man will criticise him for It. Blu
we did not consider II wise or fai
to Mr.. Gillies' successor to elect hin
with ready made obligation o
800 900 per quarter upon him with
out giving him an opportunity to in
spect the mine from which he mus
produce It.
Both sides are protesting tina
the feeling is friendly, then VIII
should the parties who favored tn
early dividend and outlining polio
begin to solicit proxies ninety day
prior to the annual mecting?"
ITO secure majority of the boar
of directors, In which case the pres
dent is powerless to put into ehe'
any policy he may advocate, unle'
the majority Is with him. | woul
not accept the presidency of the con
pany unless | received the support I
a safe and conservative board of d
rectors"
Nevada Klondike Company
The Nevada Klondike Mines Cor
pany, composed of Messrs. Curt
Cary and Ridge, has one of Il
greatest surface showings in NevaC
on its property at Klondike, and
a depth of thirty feet in the sha
there is a two-foot ledge that W
average SIS to the ton,
Gold Reef
Prominent Butte City mining M
visited the property of the Gold Re
Consolidated Gold and Silver Mini
Company at Gold Reef this week al
from samples taken from the fou
foot ledge on the property secured
assay Of $t04.S0. This ledge OF
crops for over mile The visitc
were greatly pleased with the sho
ing made and may purchase the pre-
ortr