Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1907-07-06

Company, and H. NJ Lazelle of Michi-
gan; Bishop Abram Hatch, ]. E. Lang
ford, manager Salt Lake & Los Angeles
railway; Jacob Moritz, Seth Pixton.
banker of Riverton, Utah; James E.
Paine, futile Brothers, William H. Tur-
ner, capitalist. of Chicago; Thomas NJ.
Osman of Mercur; l.. E. Morningstar,
Pittsburg, Pa, and Freeman Morning
star
The treasurer's report shows the fol-
lowing condition: Cost of properties,
including development and general mine
expenses, 81 .197, 323 10; mine buildings
and equipment, So, 1856. IS; general ex-
penses, S., 100 SO; funds, cash, bills re-
ceivable and good accounts, S12, 573 IL;
treasury stock, 1888, O5o Against which
is the capitalization of 81, 100, 600.
All of the issued stock of the Consoli-
dated Company is pooled with the Com
mercial National bank for a short time,
| in which time it is planned to place the
! 200, 900 shares of treasury stock voted to
be sold. OF this it is arranged to place
160,00 shares i'll the East, and 49, 600
shares have been allotted to be sold to
Salt Lake investors. Owing to the diff
ference in value of the properties, the
shareholders of the Old Nevada Bonanza
Company on the conditions voted, are to
receive one and a quarter shares in the
new company for each share they hold
in the Old Nevada Bonanza Copper
Company's shares will be listed in a
short time on the local exchange, as
well as in Chicago and New York.
The ambition of the management is to
continue the work of sinking the. Copper
King shaft on the west side of Copper
Hill, which has been in ore now for
nearly 100 feet i'll its course down to the
sulphides, which are expected to be
reached at about the 300-foot level. The
company's triple-compartment shaft is
being rapidly sent down also to the 800
foot level on the other side of the hill,
and crosscut will be run at that level
to cut the vein, where it strikes the lime
contact. This Copper King vein not
only crosses the company's entire En-
erald Hills group, but the management
states the strike of the vein as shown by
the compass would carry it directly to
the famous Ludwig shaft, and on through
the lime belt into the main Nevada
Douglas workings.
Various assays taken from the COM
pany's main workings run from to 18
per cent. copp; 81 to So in silver, and
work, which is nearly completed on the
central group of the company's claims,
some lead ore was exposed which is be-
lieved to be the first of that metal to be
discovered in the camp The company
is just completing the purchase of a
hoist and air compressor to operate the
same, and also the air drills which the
company will soon begin to use to facili-
tate rapid campaign of development.
AS soon as the Truckee River General
Electric power line is in position, the
company expects to make connections.
The main work planned for the develop
ment of the Revenue group is the driv-
ing of 500-foot tunnel from the west
ern portion of the Revenue claim north
easterly through 400 feet of altered lime
stone to intersect the main assure. 1t
is expected that large ore bodies will be
developed in this limestone at the con-
tact, from the splendid copper ore en-
countered in small prospect shafts
at the surface A depth of 400
feet will be gained by the driving of this
tunnel. Salt Lake Tribune.