The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1910-07-21
From The National Miner. J

(From The National Miner.)
In years to come when National ID
spoken Of in the same breath with
Virginia City and other famous bonan
"a camps Of Nevada, yesterday, July
goth, will be recalled as an epoch mark
day in the history of this district.
The prediction made in the preced.
ing paragraph is occasioned by reason
of the fact that yesterday, in accord
ance with action taken at a recent
meeting of he board of directors, the
National Mining Company of Nevada
paid to its stockholders its first FIVE per
cent dividend on 100000 shares of out.
standing stock. The company is capi-
talized for $1,OOO,OOO, divided into as
many shares of the par value of $1.00.
Two hundred and fifty thousand shares
still remain in the treasury of the COM
pany, and are likely to remain there
unissued forever, which statement is
based upon the financial condition Of
the company and increasing produc-
tion Of high grade ore, to say nothing
of the large tonnage Of lower grades
of ore that has been extracted and is
blocked out in the mine.
1t has been a long time since the
Ibid" price Of shares Of the company
passed par. In fact, it has been some
time since any sales of it at three times
its par value have been recorded; In
short, there is none for sale. The out
stock Of the company, num-
bering 100000 shares, 10 closely held,
being in the possession Of possibly not
over a dozen persons; therefore, the
dividend, amounting to $37 500, will 60
to favored few. The principal own
ers Of the stock, residing in National,
are: President and General Manager
John f. Pelton, and his son, George s.
Pelton. who holds the Office Of secre-
tary of the company. The bulk of
the remaining outstanding stock is
held by Mr.. Pelton's eastern asso-
ciates.
In commenting upon the payment
Yesterday by his company Of its first
dividend of FIVE per cent, President
Pelton said:
"It is not the only dividend to be
paid by our company. We have decid-
ed to pay dividends of like percent
age every month. Yesterday was only
the first. We could pay ten per cent
and may in the future, but
we decided to start them off with one
of five per cent"
The records of the mint at Carson
City will show that for the sixty days
prior to July l, the property of the
National Mining Company of Nevada,
including the Stall lease, produced bull
lion to the value of half a million
dollars. OF that amount, $25S,000 was
turned out during the month of June.
From the LIST to the 10th of this
month, the property, including the
Stall lease, produced 100000, and for
the week ending Sunday morning, July
18th, its output was approximately
$150,000, making total of $3.50, 900 for
the first sixteen days of this month
The production for this entire month
win probably run up to $5O0,000.
In considering the heavy production
of the property, it must be remembered
that the bullion thus far turned out
has been extracted from only "frst-
class" high-grade ore, reduced by two
small pan-arastra mills, which con-
sumo twenty-four hours in treating
from 200 to 225 pounds Of the precious
rock. The production of the property
will be materially increased when the