Bisbee daily review., 1906-09-02
TONAPAH FIELD RICH MINERAL
 DISTRICT
Estimate of $200,0 100000 in Sight in All of Its Mines
 Is Not Excessive.


 Tonopah field nearly six years ago, the district has made remarkably rap i'd strides Tn the development of its ore bodies. The estimate of $200, ,G00,- 900 in sight in ali it's mines is not con sidered excessive when the lover grades of ore, which can not be real ized upon until mills are built to treat them are included. Mines comprised in the estimate ars capitalized at to- tai of s10,000, ,Oce, and their aggregate market price is about $45,000, 900. The area in which underground exploration has disclosed pay ore extends for a distance of about 15,000 feet from east to west, and 5,00e feet from north to south. With this area the above-rten- tioned ore reserves have been deyel- oped by the exploration of less than one-twelfth of the acreage on the strike of the known veins.
 The camp has just reached the pc riod of the building of local mills fo- reduction of it's ores. These mil.s will enable the companies to recover the values from the higher grades of ore at a cost of from S10 to s15 a .Cn less than the present method of ship ping to the smelters of Utah. This means an average saving of about 20 per cent of ore values. But even more important is the fact that the mills will inaugurate productions from the great ore bodies of lower-grade rock, on which the present excessive freight and smelter charges are prohibitive. The oldest and most fully developed mine is that of the Tonopah Mining Company. It has underground work ings of about four and onv half miles l in extent, and Is estimated to have S65 900, 900 worth of ore in sight. The company has disbursed over $3,000, 900 1 in development and equipment, S300,- Quo in retiring an issue of preferred stock, and $1,500,000 in dividends. All l this has come from the profits on the company's ore. A 100-stamp reduc- ton mill is now being erected by the company at Miller Station, 12 miles from Tonopah, at a cost of s500, 900. The mill will be in operation about 1 September l. It will use a process adapted to the ore, arrived at after exhaustive tests made in small mill. It IS believed that the plant will save two-thirds of the present process and increase net earnings by about $1,000.. 900 year. The company Is controll- ed by wealthy banking interests of , Philadelphia The stock, which few |; years ago sold at it's par value, s1, is 1; now selling at about s19 share.
 | The Tonopah Extension has devel ' bped an ore reserve which, according to the most conservative estimates, is , worth s1S,000, while some place it as . high as s30,000.000. This reserve has i, been developed by two miles of under
 ground workings. the greatest depth oi
 which is about 600 feet. The ore body 2 is the most persistent and continuous
 thus far exposed in the camp, and is
 from 10 to 50 feet in width. The prop
 erty is controlled by Charles NJ
 Schwab, and is receiving the talented management which obtains in all his
 enterprises. The stock. the par value
 of which is s1, sold at 10 cents a share
 about two years ago. It sold at $1t last February, and has recently declin ed to s4 on reports of a disagreement
 in the management
 The Montana Tonopah has two miles and half of underground workings in which ore has been exposed to ths amount of $15,000,000. The mine has been managed in conservative man ner, the shipments to the smelter be
 ing confined to the richest ore. while
 tests are being made on lower grade.
 looking to the erection of local mill
 After three years spent in making these ore tests, two processes have
 been arrived at which will save abou Il 85 per cent of the assay values, ana | h: hofn h<
 erection of the plant The mine j.
 capitalized at $1,000.000 and the q
 shares cf the company have rangct
 around g for the past six months. 4 sinister report was recently tele I graphed to the company's stockhold
 CTS. predicting heavy decline in thu stocks. due to supposed labor troli
 bies. The report was promptly dis credited by rapid advance of 2 Il points in the stock
 I The Tonopah Belmont mine IS esti mated to have about s15,000. 900 of or'
 in sight. and has been explored to 1 Il depth of 750 feet. Many of the min II ing experts familiar with the variou mines of Tonopah believe that thi will eventually make the greates mine in the camp. It is largely du'
 to this anticipation that the stock i
 TOW selling at a valuation of s10.O00 , GOO for the mine. higher price in pro
 portion to ore in sight than obtains il fhe other stocks. The company | capitalized for 2.000.O00 one dolla
 sbares. which are sel.in4 at about sE
 The Tcnopah Midway is considerei
 to have ibe richest body of ore in IT. . rcnah. The main vein, which average
 eight feet in width. carries vsIue from s125 to s2eo per ton. whil streaks rrn as high as s4.60e. Tn company has exposed ore 10 th'
 arount of about s4.so0.o0o. ard ha much promising territory vet to es nIcre The comDany is capitalized fc
 si.oo0, 900 and the stock Is selling a
 about :2.25.