Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1906-05-12
Annual Report Of the Belmont
Mining Company.

The Tonopah Belmont Development
company has issued its third annual re-
mort to its shareholders stating the work
done on the property during the last
year, and giving the results of the ore
shipments. The report is well ar
ranged and includes map of the claims
owned by the company. 1t reads as
follows:
To the stockholders:
The third annual meeting of the stock
holders of the Tonopah Belmont Devel-
opmont company was called and held in
accordance with the bylaws, at the
Office of the company, at Camden, New
Jersey, on Wednesday, March 10Th, 1906.
At this meeting sections and % of the
bylaws were amended to read as follows:
Sec. 8. The annual meeting of stock
holders shall be held on the first Tues
day of May in each year, at the regis
tered Office of the company, in Camden,
N. j., at 1890 o'clock a. M, when they
shall elect, by a plurality vote, by bal
lot, board of directors, one Of whom
shall be an actual resident of New
Jersey, to serve for one year and until
their successors are elected or chosen or
qualify, each stockholder being entitled
to one vote, in person or by proxy, for
each share of stock standing registered
in his or her name, on the twentieth
day preceding the election, exclusive of
the day Of such election.
See. %. A board of nine directors
shall have the management of the bust
ness of the company. Inaddition to the
powers and authorities by these bylaws
expressly conferred upon them, the
board may exercise all such powers Of
the company and do all such lawful acts
and things as are not by statute or by
these bylaws directed or required to be
exercised or done by the stockholders.
The meeting then adjourned to re-
convene on the first Tuesday in May,
1906, at the same hour and place.
No additional letters patent were is
sued by the United States during the
year for your mining claims owned by
your company.
A settlement of the differences be-
tween your company and the Mizpah
Extension Mining company as to the
boundary line was arrived at by arbi-
tration, and the small map attached to
this report shows the property lines of
your company with reference to CON
tiguous properties.
The very extensive underground de-
velopment Of ore reserves made it
necessary to provide increased hosting
facilities, and after careful considera-
tion an electric hoist of the latest type
was purchased, having variable speed
motor Of 100 horse power, and a hoist
ing speed of six to eight hundred feet
per minute, with a capacity Of about
800 tons per day, which can be material
ly increased at slight expense. 1t was
also determined to enlarge the Desert
Queen shaft by the addition of another
compartment, work upon which has
been started and is progressing from
the 400, 600 and 700-foot levels. The
small compressor at the Desert Queen
shaft, which was operated by agasoline
engine, has been equipped with so
horsepower Westinghouse motor, power
for which is secured by feed line con-
structed from the transformer house Of
the Tonopah Mining company of Neva.
da, at less cost for the same opera
ton than by gasoline.
During the year the exact location OF
the veins upon your property has beer
solved to a great extent, thus faciitat
ing their opening and development anC
their existence, continuity and Width
shown in ground heretofore not o.
proved value. The 700-foot level wa'
driven east to a connection with tn,
raise from the 800-foot level, and ives
TO the company's end line. A winz'
was sunk from the 700-foot level unde