Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-07-27
TONOPAH THE SOLID CAMP.

Tonopah has Just advanced another strong argument as " why 1t Is
one ri the most stable. most permanent and richest mining camps III
the world. High-sounding talk is all very well In the way Oh poosunE,
good prospects are good things to have, too but on TINS munuan sps!e
the most convincing talk that is made is that Wmch maH'V H"H
money.
For the week that has just closed, the mines Of TOnopah shipped
TO- tne smelters and sent to the mills an aggregate tonnage Of 5,76S tons
Arnroximatey' 1900 tons went to the smelers, and the remainder to
the mills. Tonopah has never had any occasion for making VIA claims
Al ia her production. The ore that is shipped to the smeiters "i aFerase
s1oo ! ton; in fact, very little rock that does not go that amount is sent
away, the mills claiming it. The returns from tne mns VIII sNs az S az
srage OF $50 a ton. This estimate is getting down to the ground IN TN
way OF values, but Tonopah prefers to be o the safe side.
We these very conservative figures in view, the value of the pro-
aucton for last week will be as follows: 1900 tons at s1oo a ton
monn Z s15oO 900. and 1850 tons at $50 a ton equals s1275Oo; or
a total of s277,5 500 for the week. This means IN nua OUTPUT o 80
f75ssoO.
rne Tonopah min produces the bulk OF this great output, and the
sennCn next. When the acknowledgement has its fortystamp
nl in operation, the production OF that mine vii De orea ~
wondertul degree Then, the production of the last week does not repre-
sent the full capacity of the Tonopah and Belmont mines forms -
running only 80 stamps Of its 100 stamp mill and te belmon m o' NV ~
Of rs GO. This is nt because the mines have not the re to work but
TOR the reason that they both lack tank capacity "hNhu wa " '
ing remedied as quickly IS possible.
The Tonopah Extension sent to the smetcr 200 tons, but this does
oo, eprese its product by any means The Extension is blocking out
mountains of milling ore for the future reduction by tn mil II Is pro
posed to construct
Thus the future of this camp is assured. We will be producing for
many years to come. Thee may be other camps that make a more
spectacular showing for a week II a month, but Toropah goes IN week
in and week out, increasing al the time, and never slipping back
ward. 1t is a camp on a solid and permanent basis.
1t will occur to the outsider, that in the circumstances, the stocks
of this camp should be higher So they should. The prices today OF
Tonopah Mining, Tonopah Extension, Belmont Montana-Ionopah' JIM
Butler, Midway are rdicul5usly low, and why? The prices reflect on
didons in the east Tohopah depends upon the east 10 I'M value Oh
her securities, while the market for the Goldfeld securities al pee
held more closely in San Francisco. The reason for this is that the
majority of the Tonopah stocks are held in Philadelphia, Pltsourg ana
New York, and they ART held mostly in big blocks. AT the INA OF tne
depression, many Of the big holders were hurt by the smash in wall
street, and they were obliged to let go of some of their holdings.
Mining stocks suffered in common with the industrials, and when
an attempt was made to dispose of blocks of stocks it as but natural
chat those who wanted to buy them would YET tnem "a. TN Yves Joe
afble prices; and a a matter of fact there was no idle money to BUY
anything, s. the prices went down and down. following the natural reno
Of the market. Just the moment that money iooSenS up lr Keeps ~ ~ u Ie
east, you will see the prices of the Tonopahs go flying upward o. theirs
is no speculative value. The stocks have the mines to back them and
the TOnopah stocks today are a safer investment than neal corn Q
any Of the industiaisD