Los Angeles herald., 1906-09-03

| geles and Riverside capital will be useC
for the early development of what Ii
confidently expected will be a great
mining district. Close to properties
controlled by Colonel Greene in Mexico
| the Sinaloa Mining and Development
company has been formed. capitalized
| for 81, 900, 900. All shares non-assessa.
/ BILE, but only 100000 of stock will be
| In the market.
Among those Interested in the new
company is Harwood Robbins of 1857
Lime street, who has just returned
| from Mexico and is vice president. The
other officers are all Los Angeles peo-
pie, r. B. Floeter, president. Secretary
Wolford, treasurer, j. g. Franklin, and
directors, Messrs. Henderson, Prof
Leslie and ]. H. Best. The mineral
bearing properties are within eighteen
miles of the seacoast at the Gulf of
California and the port of shipment for
the present will be Altata. They lie
around Culiacan. the capital of the
state, to which branch line Is pro-
jected by the Guaymas railway.
The company is so sure of it's future
that there is little reserve among the
responsible officers in talking about
the future. Their knowledge consists
in careful reconnaissance of the old
Spanish workings, and an expert
knowledge of mines that according to
extensive exploration of the vein mat
ter will yield in copper 5, Is or 20 per
cent of the gross weight of the ore,
IS, SIS and $40 in gold and will run
above 100 ounces in silver.
Quartette Paying Dividends
The Quartette Mining company at
Searchlight has been paying monthly
dividends of 1 1-2 per cent on its
capital for the past two months. This
amounts to $4,000 per month in divi-
dends and this sum it is stated will
doubtless be doubled when the twenty
additional stamps now on the ground
are set up and put to work The
balance of the equipment they now
have is easily capable of doubling the
output. Two $4,000 gallon tanks have
been set up on high point between
the mill and the shaft and are being
used for the storage of water pumped
from the Drake shaft. One of these
tanks will be kept full and set aside
for fire protection. 1t takes number
of hours to make even a hurried trip
through the several miles of under
ground workings of the Quartette.
Matheson Mine Bonded
Los Angeles capitalists have bonded
the Mattheson mine near Chico in
Butte county, Cal, for $500OO The
mine has been owned and operated by
D. H. Matheson for ten years.
The property, which consists of five
claims along the ledge of 1900 feet
each, has recently been exported by
the Los Angeles corporation and the
| tests proved so satisfactory that the
property was bonded for the above
amount
The ledge is about twenty-five feet
in width and the results of working
tests have varied from $3.50 to Sic
per ton. Under the ownership OF
Matheson the property has never been
fully developed, only the more acces-
sible portions of the ledge being
that a systematic development will
bring valuable results.
Tonopah Records
Greater records than ever are being
made by the Tonopah (Nev) mines.
Shipments aggregate 1000 tons per
week, and the leader in this produc-
ton is the Tonopah Mining company,
which paid a dividend for the second
quarter in 1906 of $350000, or 25 per
cent. The great bulk of the ores sent
out west to the smelters during the
second quarter of the year. aggregat-
ing 1919 tons; $3.50 tons were milled
and 441S tons placed on the dumps to
await the construction of the com
pany's own milling plant which is
expected to treat 500 ore at a profit
and have 100 stamps. 1t is to go into
commission right away and the direc-
tors of the company have declared TO
stockholders that thenceforth dividends
of so per cent quarterly may be con-
fidently anticipated, commencing with
the last quarter of 1906.
The shipments from the other mines
include weekly 800 tons from the To-
nopah Extension, $50 tons from the
Belmont, so to 100 tons from the
Montana -Tonopah, and lesser consign-
ments at irregular intervals from
smaller properties.
Recent developments on the Miz-
pah's 50O-foot level show that the
heretofore regarded barren footwall
was in reality ore of good grade and a
crosscut sent through 1t has so far
reached length of SiXty-five feet with
out finding the limit of values on the
of $35 per ton It's depth Is unknown
but 1t is believed to extend at least
for 100 vertical feet. This property is
part of the holdings of the Tonopah
Mining company and was one of the
first locations made by "Jim" Butler
! discoverer of the camp.
Bought Manhattan Group
w. c. Humphrey, Daddy of the
Camp" and Howard Butler, last week
sold a valuable group of claims neal
Central Manhattan to d. w. NefsS
of Los Angeles, formerly of Williston
North Dakota. The property was
located by Humphrey and Butler ir
May, 1905 and these veterans of the
mining business have refused repeat
ed good offers. Mr.. Nefsy spent sever
al weeks looking over the Manhattan
district with a view or investing fol
himself and associates. He thorough.
ly sampled and tested the property
and was more than pleased when he
secured possession. Considerable work