Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1909-05-15

whereby Cy f. Johnson, the Round
Mountain mining man, and associ-
ates secure control of the Round
Mountain Daisy Mining company.
For the past year Mr.. Johnson has
been quietly at work buying up the
stock in this company and night be-
fore last he secured a large sized
block that was more than sufficient
to place him in control. This block
he purchased through Bartlett,
Thatcher and Gibbons.
Mr.. johnson represents a large
number of eastern capitalists who
have already become interested in
Round Mountain mining property
through his efforts. With the con-
troll of the Daisy he also secures the
control of the Round Mountain Pow
er and Water company, which owns
the entire water rights of the north
ern camp.
The final consideration for the
property was a cash payment made
yesterday through the Nevada First
National bank. amounting to $780,
900, and with the shares thus Sc
cured makes the total held by Mr..
Johnson over $4,000. The COM
pany has a capitalization of $1,250,-
900, with the same number of
shares at a a value of 81 each.
There are now less than $4,000
shares outstanding.
Mr.. Johnson has been prominently
identified with the mining industry
of Round Mountain since the birth
of that camp and was one of the first
to induce eastern capital to invest
there He has managed the Solid
Gold lease on the Daisy ground for
the last three years and today it Is
regarded as one of the best workings
in the camp. The Solid Gold has
been equipped with a six-stamp Mer-
rails mill with a capacity of fifty tons
daily. The mill was started four
months ago on ore from the Madigan
lease and a recovery averaging 81
! per cent was made. On ore from the
Paulson lease a saving of SO per
+ cent was effected.
There are two shafts on the lease.
one having a depth of 200 feet and
the other bing down 220 feet. In
the latter on the 150-foot level 8
fourteen-foot ledge has been exposed
that win run better than $40 to the
ton. A base proposition sixteen fee
in width gives returns from $40 t.
S25 per ton. On this level a high
grade streak from o%ne-quarter to
one and one-quarter inches in widtl
! has been encountered that is nearly
: pure gold. This streak is in a two
I and one-half foot ledge that vii
mill better than $50.
+ Very little work has been done OF
the 200-foot level, the operations be,
ing confined to development on the
first level and in sinking. But a
I this point a three-foot ledge wai
found thirty feet from the shaft
t This body is valued at from IS t.
SIS per ton. At the present the fore,
employed is engaged in sinking
which will be continued until tn,
500-foot level is reached.
e The Daisy has made several for
0 tunes for l%easers, among them be
g ing Bill Mulholland, who extracte,
$150,O00 in ten months, and William
H. Madigan, who accumulated be
a tween $4,000 and $4,000 in sevel
months.
Mr.. Johnson was one of the first t
secure a lease on this ground and
was on his holdings that the frs
strike was made. At that time h
was associated with Warren Kenn,
r There are four good shafts on tn
Is Daisy which have a total of abou
it 1000 feet of underground working,
It When seen last evening concern
E. ing the purchase of the control {
e the property, Mr.. Johnson stated t
+ a Bonanza representative that q
It soon as he had matters arranged
If would start operations on the Dais
on a large scale.
g Il have already ordered a soto
l. capacity cyanide plant that VIII
r installed in conjunction with IL
j.. Solid Gold mill. The present S
a stamps will be enlarged to a nil
n stamp plant and the machinery fl
this change is now enroute. BY Il
e. last Of July the Solid Gold shou
be running with a capacity OF Sc
enty-fve tons daily. We will nj
c%onfine the operations of the mill
our own ore, but will also treat Gu
tom ores, whenever the capacity
the mill will allow 1t.
RS After the mill is enlarged l w
lg take a trip to the east and consu
re with my associates regarding 9th
in changes that | have in mind al