The Western news., 1907-02-13
The TONOPAH Mines
SHORT ACCOUNT OF DISCOV-
cry OF GREAT REGION.
MAN WHO MADE FIND TOO POOR
TO HAVE ORE AsSAYED.
NOW $1oo,ooO,O0o is IN SIGHT
Locator Had Much Difficulty in In
terestng Anyone in a Great
Property.

Property.
An account of the discovery of a |
great mine is always interesting read |
ing. These finds are usually made by |
poor men and in many instances by
mere accident. There is generally a !
story of vicissitude and suffering, a
struggle with poverty and other draw
backs connected with the discovery
and subsequent development of a rich
mine, no matter the variety of the
metal that it contains.
Following is a brief history of the
Mispah mine at Tonopah, Nevada. This
property was discovered in May 1906,
by James L. Butler, then resident of
Belmont, New, he having previously
seen the outcroppings of the vein in
l1S7O.
Butler took samples of the ore IS
miles south to Klondyke, which was
| then producing nigh graue silver ore.
| The assayer there thought the dock of
| little or no value, and as Butler was
without money did not bother to assay
it. On his return trip Butler took
several samples back to Belmont and
showed them to T. l.. Oddie, who sent
| them to Austin to be assayed, the re-
| turns from one of the samples being
$50 in silver and $206 in gold TO the
| ton.
Locate Eight Claims in September.
In September, 1900, Butler, accom-
| panied by Mrs. Butler, returned to the
property and together they located the
eight claims now owned by the TOno-
pah Mining company of Nevada, Mrs,
Butler named one claim the MiZpah
and also named the camp Tonopah,
| from small spring four miles north
which had been given that name by
the Indians, the word meaning water
brush"
| In October, 1900, Butler returned to
the property with w. Brougher and
Il. l.. Oddie, to whom he had given
an interest, and commenced work on
the property, their sole possessions be-
ing a small tent, a mcager camp out
| fit, a wagon, two horses and $25 in
cash These three men took out
ton of ore which was hauled 120 miles
to Austin and shipped to San Fran
cisco, realizing a little over $500. This
return and series of high assays Sc
cured from other parts of the surface,
induced big rush to the camp and
many leases were granted by Butler
to the end of the year 1901.
Total Production Is $4,500,o0o.
The total production of this period
was $4,500,000. 1t was in June, 1901,
after several other capitalists had at
tempted 10 buy the property and eX-
perts for others had condemned it,
that Oscar A. Turner of Philadelphia
took an option on the mine for $780,
600, drawing at sight on his friend,
John w. Woodside of that city, for the
payment of $4,000, which was prompt
ly paid. The property was bought
subject to the leases, and the royalty
from shipments made by the leasers
were more than sufficient to provide
the balance Of the purchase money be-
fore it became due
On January 1, 1902, the original
eight claims located by Mr.. and Mrs.
Butler passed into the hands Of the
TOnopah Mining company OF Nevada, a
corporation having a total capitaliza-
ton of $4,000 comprising 1,O0O,-
900 ordinary shares of 81 each and
100000 preferred shares bearing in
terest at s per cent per annum. Sub
scribers to this latter stock at par
were given two shares of ordinary
stock for each share of preferred
stock, making three shares for 81.
Property Steady Producer.
The property continued to be a
steady producer of large quantities
of high grade ore, the proceeds from
which were devoted to the develop
ment and equipment of the mine.
/ In January, 1905, the preferred stock
was paid off and in April of that year
was paid and regular quarterly divi-
dends of that amount were continued
until October, 1906, when it was in
creased to 35 cents-the total amount
of dividends paid being $2450,000.
1t is estimated that the underground
workings of this great mine, only
opened up to a depth of 700 feet
amount to over 10 miles, while the
value of the ore blocked out is com
puted at over $100000,000.
The company is now operating a
100 stamp mill and owns many other
. valuable properties in the state.