Elk City mining news. (Elk City, Idaho) 1903-1913, 1907-02-16
The TONOPAH Mines
SHORT ACCOUNT OF DISCOV-
cry OF GREAT REGION.
MAN WHO MADE FIND TOO POOR
TO HAVE ORE AssAYED.
NOW 100000. 900 is IN SIGHT
Locator Had Much Difficulty in In
teresting Anyone in Great
Property.


An account of the discovery OF q
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
story of vicissitude and suffering, =
struggle with poverty and other draw
backs connected with the discovery
and subsequent development. of rich
metal that it contains.
Following is brief history of the
Mispah mine at Tonopah, Nevada. This
property was discovered in May 1900,
by James L. Butler, then resident Of
Belmont, New, ne having previously
seen the outcroppings of the vein in
1870.
Butler took samples of the ore Is
miles south to Klondyke, which was
then producing high grade silver ore
The assayer there thought the dock OF
little or no value, and as Butler was
without money did not bother to assay
| IL. III Ills Iclulu DuIlCl UNA
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
$40 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. Mrn
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
T. L. Oddie, to whom he had given
an interest, and commenced work ON
the property, their sole possessions be-
, ing a small tent, a neager camp out
, fit, a wagon, two horses and SIS in
cash. These three men took out .
ton of ore which was hauled 120 miles
! to Austin and shipped to San Fran
CISCO realizing little over 5000. This
= return and a series of high assays So
: cured from other parts of the surface.
induced big rush TO the camp and
a many leases we're granted by Butler
= to the end of the year 1901.
: Total Production Is $4,500, 900
s Tho total ,rod,ot;o- Ait, xo~s<~x
was $4,500,000. 1t was In June, 1901,
after several other capitalists had at
- tempted to buy the property and ex-
Il perts for others had condemned II,
Il that Oscar A. Turner of Philadelphia
took an option on the mine for $780,
900, drawing at sight on his friend.
l. John w. Woodside of that city, for tho
Q payment Of $58,080, which was prompt
O ly paid. The property was bought
o subject to the leases, and the royalty
D. from shipments made by the leasers
n were more than sufficient to provide
n the balance of the purchase money be-
q fore it became due.
q On January 1, 1902, the original
a eight claims located by Mr.. and ME-
q Butler passed into the hands of the
i Tonopah Mining company of Nevada, \
IN corporation having a total capitalize
# ton Of $1,36o,o00, comprising 1,000,-
&c 900 ordinary shares of 81 each and
a. 100000 preferred shares bearing in
terest at per cent per annum- Sub
g scribers to this latter stock at par
n were given two shares of ordinary
w stock for each share of preferred
stock, making three shares for 81.
N Property Steady Producer.
a The property continued to be =
=, steady producer of large quantities
- of high grade ore, the proceeds from
:, which were devoted TO the develop
" ment and equipment of the mine.
u In January, 1908, the preferred stock
20 was paid of and in April of that year
- the first dividend of as cent share
y was paid and regular quarterly divt
- dends of that amount were continued
- until October, 1906, when it was in
~ creased to 35 cents-the total amount
:, Of dividends paid being $2,450,000.
o. 1t is estimated that the underground
workings of this great mine, only
opened up to depth of 700 feet
amount to over 10 miles, while ths
id value of the ore blocked out is com
,r. puted at over $100,0o0,00o.
I'd The company is now operating ,
as 100 stamp mill and owns many othel
IT. valuable properties in the state.