The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-12-18
mining
PAYS A BIG
Dividend

At the regular monthly meeting OF
tAa directors Of the Tonopah Mining
company, held yesterday at the COM
nany's Office at Philadelphia, a quarter
" dividend of 25 cents per share was
declared, with a Christmas present to
the stockholders in the form of an ex-
ira dividend Of 10 cents per share, a
total of IS cents. The word was re-
eeiyed by w. w. Charles, comptroller
Of the company, together with informa-
ton concerning the closing Of the
books.
The dividend will be paid on jan
nary 81, 1910, to stockholders of record
December 81, 1910. The transfer books
will close at 3 p. M, December 81, and
reopen January 5 at 10 q. m.
By the payment Of this dividend, the
Tonopah Mining company is classed as
the greatest silver mine in the United
States at the present day, with the
Hornsilver company Of Utah a close sec
ond, although this concern has not paid
a dividend for over two years.
The dividend ordered paid yesterday
will amount to $350,00O, and is the
fourth for this amount declared this
year, making a total of $1,40O,000 for
the year 1909.
Among the various gold, silver, lead
and copper producing mines in the
United States that have paid dividends
during the present year, the Tonopah
Mining stands as No. IA on the list.
During the brief history of the big com
pany a sum aggregating $4,000 has
been paid put in dividends. This makes
the mine rank as No. 80 when com
pared to the other mines in the United
States that have paid dividends. It is
a rather unfair comparison when it is
known that the other properties have
been paying dividends for years and
years, while Tonopah Mining has been
in existence only eight years and a half.
Anticipating the dividend the stock
Of the company made quite an increase
during the past few days on account of
the heavy buying orders from the east.
The stock for the past three months
has hung around the $3.50 mark, but
yesterday closed at $3.50 bid, with few
selling orders recorded.
The physical condition of the mine
has never looked better and with the
excessive amount Of development work
under way, it is almost assured that
new and greater bodies Of ore will be
opened up. The latest and most import
ant move on the part of the company is
starting the diamond drill work on the
loOo-foot level to prospect the depths
below this point. Should ore be en-
eountered a phenomenal raise in the
stock quotation would result, as the
1act Of ore existing at these depths
would insure the company operating
ior the next fifty years, and probably
longer. AS it is, an immense tonnage
OF ore is blocked out, sufficient to keep
the mill at Millers in operation for an
indefinite period.
Another move of equal Importance is
inc commencing of operations on the
sand Grass claim, northwest Of this
city, and which lies between the Tono-
pah Extension and Golden Anchor
ground. A number Of lodges in diff
ierent properties in this district show
a tendency to dip in this direction m
y is with the purpose Of prospecting
the territory that the work is started.
yesterday the shaft house was COM
pieted and today the work of sinking
the shaft will be commenced. The shaft
VIII be three compartment in size until
the hard formation is encountered and
Then the workings will be sent down
IN a standard two compartment size.
The company has not decided to sink
70 any special point, but the work will
oe carried OF until favorable prospects
are encountered.