Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1908-03-14
WILL INVESTIGATE THE
NEUTRALITY-SUSPICIOUS.

-t1ANCfNIIONB
Shareholders Of the Montgomery
Shoshone Consolidated Mining Com
pany will be interested to know that
the meeting of shareholders held in
New York has resulted in the cleo
ton of a committee consisting of
William p. Bonbright, p. f. Thomp-
son, Isaac Untermeyer and Capt. w.
Wharton to select an expert to make
an independent examination of the
company's mines in the Bullfrog.
Nevada, district.
u theory of the examination Is
to afford the stockholders some
check upon and v~erifcation of the
several reports concerning the con
dition of the property made by the
officers from tinm to time. In this
way some basis of comparison can
be established from the standpoint
OF difficult technical estimates. II
was decided that the company would
pay for the services OF the expert
and while his selection was not def
nitely decided upon by the commit
tee Yesterday, it VIII. in all proba
bility, devolve upon A. Chester
Beatty to make the report.
w. b. Turner, the eompany's sun
~erintendent, attended the meeting to
answer the cross-examination of the
stockholders and he was prepared
to explain the various details re-
quested, Speaking of the mine and
mill, he said that the lowest work
ings were now at a depth of coo
feet, where they we're crosscutting
north and south to strike the veins
encountered in the higher levels.
Once these were reached they woul
probably go down another 100 feet
In the main compartment shaft and
duplicate the work of the 600-foot
level. The ore reserves, he said.
were substantially the same as given
In the last report published several
months ago.
The mill he said was treating
5000 tons a month of $50 ore tho
extraction showing a saving OF 81
per cent About As tons OF shin
ping ore were going out daily. that
would go from $50 a ton mp. The
company has lately struck a little
water in the lower levels which "a
being used In the mill. The mine IL
making $4,000 gallons a day. which
while only a normal quantity Is
above the average for a dry country
IKE Nevada. There at present 100
men on the payroll, power and light
Tor the mine and mill are furnished
by electricity.
Ihe financial statement furnished
shows that the Montgomery-Sho.
shone company owes Charles NJ.
Schwab $434,743, and w. A. Clark
e. Bro. $4,000. or the $1,44o rep
r~esenting the cash on hand in local
F'NNo 10 Iieu up IN the Ma
tional Bank of North America.
The directors elected were: Chas
NJ. Schwab. Donald b. Gillies, Z. A.
Montgomery. Malcolm v. Macdonald
William p. Bonbright and Marshall
X. Ward. The new directors elect.
e~dinclude Max +. ~Bernheimer. p. +
thompson andW. B. Abbott. the lat
ter representing the large steel in
terests of Pittsburg in the com
pany, II developed at the meeting
that E. A. Montgomery's interests
amounted to more than 10000
shares.
owing to the absence of Mr..
schwab in Europe, an adjournment
was taken until March 81.
II was stated at the meeting that
the company owns 1,044,s64 shares
Mont.-Sho. NJ. Co, l,044,79G shares
sho'-Poiaris NJ. Co. 500, 900 shares
crystal Blfg. N. Co., 1O,111 shares
Bllfg. Red. & w. Co.