Los Angeles herald., 1910-03-06

N OLDFIELD New, March 5.-DiV-
VT !dends have been declared by
~ the Goldheld Consolidated Mines
company and the Florence Goldteld
Mining company to be paid, the tor-
mer April 80 and the latter Aprll z.
In addition to the regular quarterly
payment of 80 cents a share the Ill
rectors of the Consolidated declared an
extra dividend of 20 cents, making
the aggregate sum TO be distributed
$1,779, ,424. over 5000 stockholders III
the big merger will receive checks Tor
, sums varying according to their holo-
ings. on January 81 similar dlVl-
dend was paid by this company, which
now leads the precious metal mines IN
point OF the profits earned. The Flor
ence company's dividend is for 10 cents
n share, involving the payment of $lO6-
900 and making a total of dividend
payments to date of $735,0OO.
In a brief report just issued by Man
nEer j. II. Finlay, covering the opera
tions OF the Consolidated Mines com
pany for February, 1t is estimated that
the gross recovery from the 23,S66 tons
OF ore treated during the short month
amounted to $6S0,000 and the net prof.
its are estimated at $4SO000. Until the
final returns are had from bullion in
transit the exact figures of the month
production of gold cannot be known
but the estimates have heretofore been
invariably within the final figures. IT,,
is shown that during February the mill
treated an average of S5222 tons nav
ing an average value of S3O.33 n ton
The mill has demonstrated It's ca
pacity for readily treating 9OG tons
daily, hut as announced in the last
monthly report the production viii be
maintained at around $50 tons for the
present.
Enters Mohawk's Ore
An important announcement In the
February report Is that the extension
of the 750-foot level from the Clcrmont
has entered the main Mohawk ore
channel running parallel TO the great
Clermont vein. and ore of good quality
is exposed 150 feet deeper than here
tofore developed in the Mohawk. Inc
car samples. as broken for hosting
vary from $40 TO $50 with the char
acteristic seams of high grade.
This ore channel is about 400 feet
from the rich shoot exposed in the
Clermont workings. and while develop
ment is not sufficiently far advanced
TO determine it's value, IL bears every
indication Of maintaining the qualty
and volume opened on the levels above.
The most momentous news In the
camp in recent times and perhaps IN
All time was the announcement that
foot level of the Clermont, the deepest
workings In the district. The vein at
this depth shows a constant improve
ment as the drift progresses, the as
saws running to six ounces gold ana
the mine car average being around $40
a ton, with the usual seams or OK
ceedingly rich telluride and even less
conner than occurs at some points near
the surface.
Beyond question the richest showing
of gold ore to be seen in any mine in
the world today Is at the 1oO-toot lever
of the Clermont workings of the Con-
solidated In tho faces, walls and tops
of the great slopes may be seen the
seams of shining dark quartz, some
of which is almost one-half pure gold
and the average product has been so
rich that IL has been necessary to mix
with IL material of low grade from the
walls and from other parts of the com
pany's mines.
The Clermont alone is now capable
of producing 600 tons of ore daily,
and the ore trains on the company's
standard gauge railroad are kept busy
hauling the product from the four
working shafts to the gigantic ore bins
at the MILL where the ore is auto
matically weighed in the cars and is
properly blended i'm passing through
the sampler in order to maintain the
desired grade of heads.
Above 800 Tons Daily
Despite the fact that the additional
machinery the installation of which
increased the capacity of the mill from
$50 to 900 tons daily, was put in opera
tion only four days before the first day
of the year, the January treatment
averaged we'll above 500 tons daily and
shows a gratifying advance during the
past month. New development work
which i'm January amounted to 4563
linear feet, has been continued in pro-
portionate volume, but estimates Of
new ore reserves rendered available
have not yet been made public.
BY far the greater amount of new
work has been devoted to following the
known bearing veins and develop
ing and blocking out ore bodies in
these channels. Production from the
Combination mine has increased largely
since repairs to the levels in the caved
area about tho Hampton stope were
completed.
At the annual meeting of the Flor
ence Goldfeld Mining company, held
here this week, the minority stock
holders of the company were repre-
sented by committee delegated to
thoroughly investigate and report upon
the financial condition of the company