The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-09-28

Tonopah. Sept. 27.-The tumble in the
price Of the Belmont stock this week
has kept the wise ones guessing, and up
to the present time no good solution has
been offered for the sudden decline. To
be sure, one pat reason is ready enough.
and that is that the quarterly dividend
Of 10 cents per snare was passed at the
meeting in Philadelphia on Tuesday.
This was probably eason enough for
the bears in the east to raid the stock,
and doubtless they did take advantage
of the situation. The Goldfeld Console
dated declared a dividend of 10 cents a
share, and the stock Of that company
declined as many points as did that of
Belmont.
But there is this difference in the two
stocks. The merger stock is a specula-
tive security, and has been bobbing up
and down on the board until its ups and
downs has ceased to excite speculative
guessing. Belmont is more staid, and it
is long since 1t has been anywhere near
the figure for which 1t Is now selling.
1t has been only a short time since that
there were 100, 600 shares of the treas
ury stock sold at So a share to pay for
the cost of erecting the 60-stamp mill at
Millers. The purchase of this stock was
supposed to be a special privilege. for
1t was offered only to the stockholders
in the company. Had the latter held on
a little longer they could have got the
stock for nearly a dollar less than the
price Of the special privilege. But Bel
mont must have looked awfully good at
So, for the issue was snapped up In no
time at all.
The mill IF the Belmont has been
dropping its stamps for more thar
three months, and while the ~stockhold-
crs had no objection to make at the
passing of the dividend in June. for the
reason that the plant had not yet been
paid for, they dill not anticipate that
Two quarterly dividends in succession
would be parsed. Three months Is not
q very Ions tine in which to have a mill
running ~ It's best but from all &C
counts thu Belmont mill Is ~Ierfect In
every apItint.ner.. but there Is one
thing that tbs men OF the east mav have
overlooked, or may not have known
The Belmont mill has not been running
to it's full capacity since 1t started, not
through any fault Of the company but
for the reason that they ave not been
able to got the requisite amount OF pow
er. The Nevada California Power com
pany has been promising that 1t would
have an extra plant. with a special wire
running into the camp for the use OF the
mines, independent of the supply OF
power for the uses of the city.
This has not yet been done, although
IL is said that the wires are being strung
as fast as the poles can be secured and
nut up in place. This may take another
month; meanwhile the production of the
mines must suffer. Belmont IL account
ed as one of the biggest mines in Tono-
nah. and those who have been through
it's underground workings recently, say
that It is improving rather han de-
terioratinR. In talking with General
Manager Keith. the day before II De.
came known here that the dividend had
been passed. that gentleman said thai
the mine was in most excellent shape.
1.-The mine." said he. has kept up In
its production in a most uniform man
ner. If there would be a falling on In
one part of the mine. we would nne
something to make up for it in anothei
place. That has been the experience Of
the mine from the start. Today 1t II
looking better h ever"
With q mine in such physical conoi
ton, II looked as II there might be q re
sumption of the dividend this month
But It is possible that the situation VIII
regard to the lack OF power was no
known outside the camp. The Belmon'
has more territory than the majority O
the mines in Tonopah. and the mine Il