The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-12-22
NEWS OF MANHATTAN DISTRICT

Manhattan. New. Dec. 1s.-That the
East Manhattan copper belt will ulti-
mately be developed into one OF the
largest producers of the red metal IN
the country is daily becoming more APP
parent as the acreage of the Toduima.
Bonanza and Ralston Valley Gold and
Copper companies are explored. On
Toquima ground a large ore body Is al
ready exposed carrying 10 per cent COP
per and when water level Is reached. a
matter of about 25 feet more in depth.
1t is expected that the grade will be
even higher. The three companies are
to cooperate in the erection and opera
ton of a concentration. and correspond
ence on that subject with a prominent
mill machinery firm kas brought out the
fact that a plant can be erected on tie
properties which will reduce 4 per cent
copper ore at a handsome profit.
SINKING SHAFTS
Shafts are being pushed downward on
all three estates. n additional depth is
followed by additional per cent of cop
per. A whim has been installed at the
collar of the Toquima shaft. but is to
be utilized for a few weeks only as a
DldnI VI IIldCIltCil 10 hOM VII Odt ~
the property. The copper belt is one of
the centers of attraction in the Man
haitian district is being visited both
by local mining men and capitalists
from other points. The three properties
before mentioned are controlled by the
firm of McElvaney &c Torpey of this
city who have purchased ar automobile
in order to afford visitors better trans
portation facilities to and from the
copper belt.
MANHATTAN MAMMOTH
The tunnel of the Manhattan Nam
moth company-the largest in the entire
camp-is being driven steadily into the
hill. Its present length is 450 feet. the
naturalization in the breast indicating
that a few feet more of drifting will re-
suit in tapping the first of the series of
lodges crossing the estate. Gold values
have increased somewhat in the last few
feet and the rock carries considerable
%sulphide and a trace of copper.
DEXTER DIVIDEND
A meeting of the directors of the
Manhattan Dexter Mining company was
held in Tonopah a few days ago and a
resolution passed distributing among
stockholders of the Dexter ompany all
the stock holdings of the Dexter
parent company-in the eight subsidiary
companies. amounting to a total of APP
proximately 5.27S.010 shares. OF this
distribution zoe, 900 shares in Zach of
the following companies is the allot-
ment. Dexter King, Dexter Queen. Dex-
ter Crown. Dexter White Caps. Dexter
Extension, Manhattan Union Extension.
The remaining 37S,010 shares represent
holdings in the Dexter Merger MINING
company.
The dividend is payable on February
18th. 1907. but the certificates will be
placed in trust in bank in favor of the
owners thereof during the tenure of the
pool. as the dividend is declared subject
to the life of said pool. The directors
of the Manhattan Dexter company
deemed this action necessary to protect
the interests of all concerned. In the
meantime it is the purpose to dispose
of the treasury stock of the subsidiary
companies for the further development
Of the various mining estates they rep
resent. The dividend stock is to remain
in pool until the directorates of the
latter companies declare the pool dis
solved.
2 a COMPREHENSIVE lued OF the Ndlue
of this stock dividend is reached by the
official statement that shareholders in
the Manhattan Dexter mpa to the
extent of 1871 shares, will on February
18th, OF, receive an allotment of zoo
shares in each of the seven companies
first named. and 37S shares in the Dex-
ter Merger Mining company, making a
total distribution of 5,27S shares, in
addition to the 1871 shares of Dexter.
and in that proportion. 1t has been UNI
derstood by some persons that the pur-
chase of Dexter stock included a pro
rata interest in the Union on Litigation
Hill. but such impression is erroneous.
although such an interest did prevail
up to January 31st. 1906.
STRAY DOG VALUES
The miners working in the Wine sun
in the floor of the 100-foot level, north,
in the Stray Dog mine are stripping