The Churchill county standard. (Fallon, Nev.) 1908-1920, 1912-05-15
PROGRESS OF NEVADA HILLS
Report of President George
Wingfield is Terse And
to The Point.

president, general manager, consulting
engineer and secretary-treasurer The
Nevada Hills Mining company is incor-
porated under the laws of South Dako-
ia, with an authorized capitalization of
Sc, $50, 900, divided into l, $50, 900 shares
of the par value of SIS each, and of this
capitalization LOGS, 051 shares have
been issued. making the present issued
capitalization of the company SIS, 325,
255.
The officers of the company are Geo.
Wingfeld, president; w. H. Webber,
viee-president: C. F. Burton, secretary
and treasurer; E. A. Julian, general
manager, and Fred j. Siebert, consult
ing engineer. The directors are Geo.
Wingfield, James r. Davis, J. H. Car
stairs, Chas. E. Knox, w. II. Webber,
w. Z. johnson, and c. F. Burton. The
company has transfer agencies and reg
istars in Reno and New York and its
depositary is the John S. Cook Bank in
Goldfeld. The report follows:
REPORT OF THE PRESIDENT
To the Stockholders of the
Nevada Hills Mining Company.
The fiscal year closing this date has
marked the completion of the entire
program of construction, which was
outlined for the more economical oper-
alton of the property and the reduction
of its ores. When this construction was
started in the fall of 1910 the property
was practically without any equipment,
having only one small gasoline hoist
about ready TO discard, while now it is
fully equipped with the most modern
machinery, milling plant and surface
equipment that can be obtained.
The new mill started operations Sep
tember 10, 1911, and continued in oper-
alton until about the middle of January,
1912, at which time the plant and pow
er company which had been furnishing
power, closed down on account of the
lack of water, and the mill could not
resume operations until April 18th.
During these four months of actual
production the lower grades of ore were
used in the mill, owing to the fact that
the necessary connections had not been
made, which would allow the economic
al handling of the higher grade ores on
the lower levels. 1t might also be add
ed that this ore, which was used, was
of the worst class to effect large saw
ings, and hence the loss in extraction
was much greater than it will be in the
future. A large amount of develop
ment work was done for the purpose of
connecting many of the old workings
with the new shaft, so that the ores
could be economically carried to the
mill. The result of this has been that
the cost per ton has been abnormally
high, and a great improvement in this
respect will be shown in the future. To
give our stockholders some idea of the
results during the actual period of op-
Grafton of the mill special table has
been Incorporated in the report of the
General Manager covering the period
from September. 1911, to the date of
this report. Even these costs are high,
owing to the fact that charges were
made against it for nearly two months
while the mill was shut down, and fur
thermore on account of the charges for
the costly development work which was
necessary.
The company has been beset with
many difficulties that could not be fore
seen, and which prevented it from
showing its real character. However,
we firmly believe that these are now
all ohviated, and that from this time
on its showing will be much better, both
in the way of lower costs as we'll as in
the record of production.
1t was found necessary to borrow
total sum of $500, 10000 of which $25,-
10000 has been paid. We had hoped
to wipe out this debt faster, but on ac-
count of the difficulties which have con-
fronted US, this has not been possible.
However, with conditions reduced to
normal as they have been, we think it
will not be long before the entire
amount is liquidated.
Attention is respectfully called to
the explanation found in the report of
the Secretary and Treasurer of the
changing of the Company's accounts
made necessary by the United States
Government in connection with the Cor
poration Excise Tax Law.
Reports of the Consulting Engineer,
General Manager and the Secretary
and Treasurer, giving you full explana-
tion concerning the physical and finan-
cial status of the company follow.
Respectfully submitted,
GEO. WiNGFIELD, President.
In connection with the mention of the
loan negotiated by the Nevada Hills, it
should be stated that there was Just
one man to whom the mine owes its
present stage of development and that
man is George Wingfield. When it was
found necessary to borrow in round
numbers the sum of half a million dol
lars, he advanced the sum and work
went on. That this county reaped a
vast amount of benefit from the ex-
penditures coincident with mill build
ing and will continue to reap incalcul-
able benefits firm the mines working,