The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-03
TONOPAH MINING IS
BREAKING RECORDS
Quarterly Statement Shows
Splendid Condition of Treas
ury and Property.
DIAMOND DRILL IN
OPERATION AT DEPTH
Company Is Proving Up Large
UndeyelOped Underground
Acreage.

Tho last quarterly statement for the
period ending November 80, 1909, OF the
Tonopah Mining company shows total
receipts from the orc mlled at the
Deseret mill of $69s $50. The mining and
milling expenses total SS29.iS0, leaving
net earnings for the quarter Of 1919
193 which includes n miscellaneous IN
come OF $9ll5 according TO the Mining
Age.
The regular quarterly dividend Of %
cents. which was paid January n. includ-
Ing an extra dividend of 10 per cent.
came TO $3.50 600 thus leaving an actual
surplus of s29.l93 after deducting the
money paid out for the dividend
The total cash on hand on November
80. 1909. was S560.3l3 The company had
on hand In addition. Il0,666 ounces OF
silver bullion, valued At $3Gl427, and
the company has made on good collat-
eral shows total cash reserve OF
81 2&6.7i0. from which. deducting the
dividend Just paid. leaves cash balance
OF $S96,1i0. From n standpoint OF imam
cial strength and cash on hand, the COM
pany is In better shape now than IL has
been for many years
Tonnage Holds Up Well.
While no specific figures are given
plished in other respects during the past
three months. IL Is safe TO assume that
the tonnage handled during that period
has been approximately at the rate of
$1,000 tons per month. or total OF
T.. 200 tons for the current quarter, ON
this basis of reckoning IL would show
that the company has saved net from
Sl2 Ia Sl4 q ton OH the ore handled. These
figures. OF course. represent merely
rough deduction from the facts in hand
and arc not official
Al different points throughout the
mine work has been temporarily suspend
ed and operations at other points started.
the most Of which are being done for
the purpose Of prospecting the ground.
there being Il considerable portion of
new territory yet TO be opened up. even
in that portion of the acreage which has
heretofore been tho scene OF the bulk OF
the work done.
IN addition 10 this part OF the develop
ment work q great deal is being done
IN the westerly portion OF the company S
holdings. where as yet but little of the
developments in the Red Plume terri
tory have been most satisfactory. and
some good bodies OF orc arc being opened
up 70 the west and north OF the Red
Plume shaft. Still further west new
shaft is being sent down on the Sand
Grass claim, which has attained a depth
Of thirty-one feet.
New Electric Hoist
Thus far the shaft has been put down
three compartment wide. but from this
point further depth will be carried two
compartment wide. The electric hoist is
being installed and II is expected that it
VIII ne IN running ofdcr some tlNlc next
week. when greater progress will be
made In his part OF the work. When
his shaft is completed the company Will
have four shafts from which 10 carry
on operations. so situated as To be
brought into use for the development of
al portions Of the company holdings.
While this work Is being done on the
upper levels, prospecting by means OF the
diamond drill continues from the 1900
foot level nut up to the present time
nothing OF Importance has been reported
from thst point
The mill reports for each week con-
tinuc 10 show that an average OF 5000
ions OF ore, OF an average OF $50 per ton
arc being crushed The bullion ship
mcnt consisted of siXty-seven bars of
bullion. valued a $50. .275. and thirty five |
tons OF concentrates. worth $4,000. MAX |
ing the total bullion shipments amount 10
S69 30.