The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-12-25
TONOPAH MINING
IS CAUSE OF TALK
Advance i'm Price of Stock Is
Taken as Good lndi-
cation.
HIGHER SILVER Is
HELPFUL TO ALL
Mizpah Shaft to Be Explored at
Depth by Means of
Big Drill.

The jump In Tonopah Mining company
stock this week to IS a share from S662l
the quotation prevailing last week, and
It's subsequent reaction TO $3.50, was n
quick and unexpected move, says the
Mining Age. II went a long way To show
that the shares OF the Tonopah Mining
company. while often listless and seem
ingly with narrow market, arc sun
capable of a good rally
While there were no official announce
nents made either in this city or In
Philadelphia, from which such an ad-
was a great deal of talk and gossip
around attempting To explain this ac-
tiviiy AS general rule the stock OF
the Tonopah Mining company Is quiet
and inactive ana its return TO life as d
trader is bound 80 start the rumor bee
going.
had some reference 10 the jump In the
stock the most likely TO he true wcre
those which referred 10 the closing out
OF line of stock held by a prominent
estate in Philadelphia which has been
slowly liauidaung its holdings of Tono-
pah Mining for many months. This stock
having all been absorbed in the market
a quick rally was bound 10 develop.
Aspect Improving.
In addition To this feature there We're
several other reasons that might have
led the market to take the quick jump
shown Silver, for instance, this week
scored n gam Oh q ttlb an S'il-
ing up 10 52i from 5li cents. In the
aggregate this means an increase in the
Income for the year to the Tonopah
Mining company. should the advance hold
at 52a cents, OF $4,000, as the company
produces about 100000 ounces OF silver
from It's properties annually In addi-
tion TO this feature IL shows that the
silver market may decide To do better
on still further scale. which would nat
urally increase the income of the COM
panY perceptibly.
Iol,f tI,o
development which the company Is car
rylng on at its property at Nina, New.
where a copper proposition ol merit rs
being opened up. which is controlled by
the Tonopah Mining company The rail-
way rights which the company owns may
also figure in a deal which would revert
10 the increased benefit TO the stock
holders
Tonopah Mining on Its present rate
Of dividend consisting OF quarterly pay,
ments of % cents a share regular. and
AN extra dividend of 10 cents is paying
better than II per cent on the stock
selling at IS II share The company has
over $400. 900 cash In its treasury after
paying lis dividend. Its plant is valued
AZ 100000. It's reserves show up at a
net profit TO the company of Sc 200 900.
while the possibilities OF new develop
ment and underground exploration are
always in favor of the property showing
UP something new. Plus all these ad-
vantages the stock has railroad inter-
ests which IL controls in Nevada.
Ine diamond Drlll-
The Mzpah shaft OF the Tonopah Min
Ing company, recently extended to a
depth OF 1900 feet, Will be explored fur
ther by diamond drill. The drill. which
has been operating in the Silver, Top side
OF the company's workings, has been
moved from that section to the 1500-foot
level OF the Mizpah. and the force is plac
ing the machinery In shape to start dur
Ing the early part OF next week.
As TO what depth The diamond drill
VIII penetrate il IL impossible to state
but from the operations Of the past IL
is safe TO say that the Tonopah Mining
company will explore the ground TO the
best advantage.
The machine Will operate near the
shaft. and the result Will be watched
with interest Numerous theories have
been advanced by mining men OF note
regarding the formation TO be encoun-
tered, and IL remains to be seen if these
ideas are correct. Some have said that
copper will be found. basing their state
mcnt on the fact that stains have fire.
quently showed UP in the different under
ground workings.