Gilpin observer., 1907-07-18
NEWS FROM The MINES and MILLS
The week. Review.

Capt. jones T. Smith in Denver News
One Of the model mining enterprises
CT America Is the Yak Mining, Milling
and Tunnel Company, operating In the
Leadville district, and which for tho
past few years has paid dividends Of
Elk per cent. Quarterly-twenty-fou
per cent. yearly-upon ores ranging In
value from $3.50 to $3.50 per ton. The
overage grade of the Yak ores, basel
or monthly output Of 5000 tons, is not
better than that Of the famous Home
stake mine of South Dakota, which is
generally stated at 50 per ton. The
Homestake Is free milling gold prop
osition. The Yak is not It's ores oosA-
tanning values in gold, silver, copper,
lead and zinc. 1t presents three factors
well worthy of notice First, steady
exploration of new territory by the use
OF four diamond drills, which are kept
In constant use, thus insuring the de-
velopment of fresh ore bodies as rap.
.cly as the older ones are lifted and
sent to the mill and smelter. Second,
the use OF up-tO-date methods in the
item OF ore treatment which extract d
high percentage of value from semi
rebeliious ores at the minimum Of cost.
in this department of work improve
ment Is steady and the young engineer
with fresh idea is always welcome to
work 1t out. What we can do" not
what We have DONE" is the motto at
the Yak. Third, modest capitalization
for large enterprise and dividends as
steady as daylight, so that none of the
companys stock is listed for SALE 1t
Is chiefly held in Denver, Kansas City
and Lcadville.
With the payment of the present six
per cent dividend. which is the second
for 1907, the Yak company will have
returned to its shareholders 1927 ,6S5,
while charging, rather than using up.
the net value Of its assets.
In the general distribution of July
dividends from mines and metallurgi-
cal enterprises Colorado has gener-
GUS share. For the Cripple Creek dis
trict the Acacia. Elkton, Ell Paso and
| Work companies have places in the
July list, the total distributed this week
| figuring up $91, ,3S9. For the past six
months open dividends in the district
are placed at $2.394 ,636. In this is In
cluded three-fouths of the dividends
paid By the United States Reduction
and Refining Company-$1, ,379 ,991-
and one-tenth OF the profits paid out
by the American Smelling and Refining
company.
II one-fourth of the known total be
added for leasers and close corpora
tons the half-year's dividend record in
Cripple Creek Is lifted to $2,993.295.
with a better outlook in sight for the
| coming six months. during which the
drainage secured through the Gold
Coin pumps will enable the extraction
of large bodies of high grade and me-
dium grade ore. ..
The Esperanza gold group in Sonora.
Mexico. owned partly in Denver. has
Paid $3.420,750 in dividends during the
fiscal year ending June Both. 1t is man.
aged by Denver engineer. Willis e.
Hindry. who graduated from the Colo
redo School of Mines in 1892. During
the year ore lifted was worth $7.6S5.
1852. while $77,940 was expended for
new property. Cash at present in hand.
| S1.s99,S36. Ore reserves at the end Of
1906 were valued at 1,472, $50.
Taking America at large, for the first
half OF 1907, the Chicago Mining World
figures mining and metallurgical divt
denas-of the known class-at $57.
1895, OF which $10.290. 1856 is credited
tc ore treatment. The United Metals
Selling Company, an incident to the
mining industry. is not included in this
total. II has paid in the last six
months 275 per cent on $1,000. .000-the
value OF its books and ONCE furniture
or $1,375.OOO. Dividends since 1900
S4.S75,000, with others coming up.