The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-06-14
GoLDFIELD CONSOLIDATED.
Forty Million Dollar Company Not
Pressed for Ready Money.

Special TO The Tribune.
GOLDFIELD. New, June l3.-While
the poorly posted public continues clam
oring for immediate dividends, the Gold
field Consolidated Mines company,
happy in the possession of the Combi
nation, Goldfcld Mining, Jumbo, La
guna. Mohawk and Rep Top, lists not TO
the rabbc. but saws wood and blocks
out ore, having now in sight and will
ing to show any Missourian Slopes of
dirt that would ransom whole genera
tions of kings. Resumption of activity
at the Sheetslsh lease on Combination
No l and the Kalfus lease on Mohawk
No. ., whose injunctions have been dis
solved. means the return of their pris
tine production of $4,000 per day,
S3,650000 per annum. Those leases ex
pirc in October and leave TO Consoli
dated the total output, where now only
q ROYALTY is paid. Since Goldfeld Con-
solidated bought the Combination there
is proved by the aggregate 5000 feet
of underground development easily
three times the value of ore known
at the time of transfer. In May there
was cleaned up $l54,000 by the in
terrupted run OF the Combination mill,
whose twenty stamps are good for sixty.
five tons daily, the plant now saving
9512 per cent and the tonnage capacity
TO soon be materially increased.
Mohawk, even now when all efforts
are bending to the repair of old work
iugs and the going to such depths as
will conduce To economic mining in
miner fashion, is steady shipper of
high-gradc that comes purely in the
way of development. Not Il statistician
nor an engineer lives who can estimate
the treasure trove of Mohawk, for
literally every blast means tons more
of quartz to ship or mill Red Top is
there with a l20-foot ledge of profit
able vein that is demonstrated for n
length of 5000 feet. Goldfied Mining
has pierced on the February domain
new shippablc lead that viii he ex-
plored at substantial depth from the
Combination bottom diggings, and La
guna is down 100 feet in her three.
compartment shaft that will drop to 800
for the Rep Tops extension and the
riches found by diamond drill expert
ments
Goldfeld Consolidated, moreover, is
not exactly embarrassed for small
change. On the first Of this month,
the end of quarter, cash on hand
came TO 81, ,400,33 23. those two penul.
innate figures not seeming TO pheaze
the arithmetician who wrought out the
official report Additional TO this there
was $4,000 worth of bullion already
IN Uncle Sam S care, but upon which no
returns had been received, swelling the
actual total reserve TO about 81 81 9 $40.
In re the much mooted dividends the
directors officially state in this report:
90 II is our policy to begin the payment
of dividends Just as soon as the same
can be done constantly with good min
ing and the ultimate best interests of
the shareholders. The latter are en-
titled to the best possible return upon
the ores IN the mines, and the regular
dividends after their payment begins,
The first object is being effected AS rap
idly as possible through systematic de.
vclopment and sale of such ores as
can now he handled to advantage. and
the last will be attained as soon as
development, milling facilities and the
adjustment of freight rates and smclter
charges and other elements affecting
cost OF production will permit. -
From the first of February 10 the
first of June the Gold6eld Consolidated
accomplished 1871 linear feet of drifts.
cross-cuts, upraises and shafts and
6l,00s cubic feet OF stopping Such work
is going forward Mt Increasing speed
under company management and il has
been decided TO grant numerous leases
on the Combination No. 3, Gladstone,
Golconda, Hazel Queen, Mammoth, Red
Boy, HUSTLER Fraction, Victor and Won.
der CLAIMS. representing a portion of
the Consolidated S estate which lies
south Of the area Of present production.
extending to the northerly boundaries
of the Combination Annex Combination
Extension, Great Western, Portland and
RpJ Hills ~