Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1906-09-29
THE GOLDFIELD MINES
Taken from our Gcldfeld Exchanges.

When a mining and leasing company,
which has been in existence a scant
four months, produces and receives re-
turns in cash over and above its operat-
ing expenses sufficient to declare a
dividend, and that, too, legitimately,
that company has surely been going
M and has also been favored by the
Tickle Goddess. The first leasing COM
pany to make such a dividend is the
Frances-Mohawk, as the following dem
o~nstrates: Resolved, by the board OF
directors of the Francesca ohawk Min
ing and Leasing Company, that a diVi-
dend of five cents per share is hereby
declared to be paid on October 6, 1906,
to the stockholders as shown on that
day by the books of the company; and
that the books for the transfer OF stock
be closed at 6 o'clock, p. m on October
/. and remain closed until October Z.
Yesterday there were Ia cars of high
grade ore to be heard from, the lowest
value of the ears sampling from $500 to
S7OO. In the winze on the 214-foot level
there is a 5-foot ledge which averages
$75.86 and in the raise $71.49. The
management states that the mine is
now shipping about s35, 900 per day.
Messrs. Wood, Miller and associates,
who are operating a promising lease on
the east end of the Velvet property are
very much encouraged over recent
developments in their possessions. AT
the 5O-foot level a ledge was encoun-
tered and in continuing the shaft too
lower point it was found that the ledge
was dipping to the southwest and that
it measured IA feet in width. A drift
was run at the 5O-foot level and all in
dications showed permanently. The
owners would not give the exact values
secured but said they were very encour-
aging. The shaft will be continued on
to the 150-foot point where a crosscut
will be run to the ledge.
w. R. Markt and Marshall Grammer,
San Francisco capitalists, returned to
Goldfeld from the Bullfrog country
Monday. The gentlemen own the Old
Sol group of A claims on Mount Logan
and the purpose of their visit there wa
to see what their property looked like
After investigating they became salts
fed with their value and at once made
arrangements for developing them.
The new Is h. p. gasoline hosting
plant on the January Jones Leasing an'
Mining Company's leaseon the Cornish
man claim, of the Florence Company
went into commission this morning an
from nov on the work of furthe
developing this promising property wi
be carried out on an extensive scale
The first important work to be CON
menced will be to sink the shaft deeper
This, Manager Jones states, will b
Immediately. 1t is proposed to continu
the shaft from the present level, II
feet, to the 300-foot point At interva
stations will be cut and crosscuts ar
drifts run to the ore shoots. The ma
agement also states that an unexplort
part of the lease is to be opened u
Recent surface work revealed a stror
ledge lying to the north of the sha
and zeal the Jumbo territory. A eros
cut will be started from the 175-fo
level and it is believed that when Il
new found ledge is cut it will be
source of supply for the Ore output
the lease. In the west drift stopil
will continue and during the time t
lease was closed down while the ne
machinery was being installed. quite
tonnage accumulated. This ore will
hoisted soon and another shipment "
be forwarded to the sampler.
Activity continues on the Silver Pi
and it is predicted that in a short til
there will be much life in evidence
this old property as on its neighbor I
Mohawk. Leasers are going ahead a
the company's shaft is not permitted
be idle a moment. A is curr1
that Sherman Aldrich & Company, c
orado brokers, are securing all
stock they can purchase in order
obtain control of the famous proper
1t has been we'll known for some ii
that the above brokers were infatua
with the Pick and it is said that Il
have made several desperate efforts
obtain possession of it by actual r
chase. In this their efforts pro
futile, so they began purchasing ste
1t has been talked around on the lea
that the %company's shaft has recer
entered several places where shipr
values abounded, and instead of con
uing on the rich veins withdrew
miners and placed them elsewhere.
new lease, adjoining the Peterson
the south, was let last week to d
Cavanaugh, Joe Stenson and W..
Cuddy and they began sinking on a
ledge on Monday. From the surfac
this ledge they obtained assays of f
90 20 e1Q On This nlaasad the lea.