The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-06-05
DEEP MINES OF TONOPAH
WILL INSTALL MORE POWER

there are over 100000 tons of ore an
sight i nthe mine and on the mill dump,
which at a net profit of 50 per ton will
pay for the mill and add nearly $500,
900 to the treasury. Meanwhile the ie-
velopment work in the mine is being
kept up and everything put in readi
ness for the economical extraction of
ore when the mill is completed. There
is but little new to report from the
underground workings since our last
report, beyond noting that connection
has been made between the 600 and TO
foot levels, thus furnishing the much de-
sired improvement in the air in the
lower levels.
Montana Tonopah.
After spending considerable time IN
making repairs and improvements IN
the mill, rendered necessary by the in.
creased amount of oxidized ore encoun-
tered in the mine, things are running
much smoother than for several weeks
past, with the result that the mill is do
ing better work, the per cent of extrac-
tion being nearly up to its former high
rate and the tonnage constantly increas-
ing, the report for the last week show
ing a total of 955 tons run through,
which is within 100 tons of the fun
capacity of the mill. In the mine the
weeks record for development work
shows that a great deal of new ground
is being broken, and that the property
is being opened in a thorough manner.
This work is being done on all levels
and showing very satisfactory results.
During the week a total of 1913 feet of
new ground was broken, in addition 20
extracting enough ore to keep their 40
stamp mill running.
During the past week a total of 125
feet of development work was lone On
the various levels of this mine, and the
showing made is very satisfactory to
the management. The rich stope at the
top of No, $ raise is showing up re-
~markably well and producing a good
tonnage of ore. There is not much
change to note in the other workings IF
the mine, which are being sent ahead
In order to open up the property in "a
systematic manner. Shipping ore is be-
ing extracted from several points, the
faces varying from 3 to 8 feet. During
the week 125 tons were sent to the
Western Ore Purchasing company.
!, Earns $4,000 in April.
Tonopah, June 3.-The net earnings
of the Tonopah Mining company of Ne
vada for April were $15O,OOO. This
is net surplus, available for dividends.
March net was $l46,OOO, making 1896,
600, or about 80 per cent, earned in two
months of the present quarter. If the
surplus for May is $3.50, 00O-and it viii
undoubtedly be more-the quarter IS re
suit will be a net surplus of 1925, 900, or
42h per cent.
The management figures on averaging
$~l35,00O a month, or about $40O, 900 for
a normal quarter, and plans to main
tain at least this rate of production.
No effort is made to show big returns,
and low and high-grade ores are mixed
to produce this average.
The cash ~recOveries in March and
April of this year averaged 80 per cent,
as compared with SO per cent in the
same period of last year. As about
$275,OOO worth of ore was handled each
month, or $550,O0O in two months, this
higher recovery represents a saving of
about 1922 900 for the two months. The
saving on these two factors, therefore,
totals about 100000 for two months,
or at the rate of $4,000 a quarter, or
over 10 per cent per annum.
The company stored a large quantity
of silver bullion, about 10000 ounces,
during the period of very low silver
prices, last fall. This is carried on the
books at an average price of 80 Is
cents an ounce. The price has ad-
vanced to about SO cents, so that the
company has already made a nice
profit, and the price seems to be going
higher.
In the fiscal year ended February 20,
1909. there were milled l62. TAT tons of
ore. As the company has now ore re-
serves of 1857 1904 tons, there is sufficient
on hand at this rate of milling for over
two years.