Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-09-25

Hi""''u more fn drrreHs North Star
shares than ans other has been the
heavy dealing Ia the stock i, Charles
y i.aing close friend Or President
Hadis and General Manager MeQnu
IAN of lhe North star company III
has been openly alleged thar Mr.
lAing has been ii receipt almos
daily Of dispatches from the mine
manager as 10 what has been tran
spring in the mine and that he has
predicated his market commitments
on This information In advance OF its
reaching stockholders and even Presi.
dent Zadig himself
Another important depressing mar
ket factor has been the great dis
appointment IN the average grade of
the ore as revealed by shipments
from the mine The net profit on
the July ore was only a little better
than 81 per ton August shipments
showed some Improvement. The
average grade Of ore, instead Of be-
ing hieh-grade shipping product is
now said 10 be about 500 per ton. or
a little less. Without mill, and be-
cause Of the hurry to make good
financial showing in advance Of
proper equipment and mining on sci
entific lines, It is stated by good
authorities that the company is vast
ing In the neighborhood of 81 or S5
per ton at this time on all of the
ores shipped. and that if merger
with some other Tonopah company is
made, provided the other company
had mill of its own this waste of
S4 or IS per ton will be saved to the
stockholders. Il is also being argued
that even If the orebody is picked up
on the l250-foot level. 200 feet below
the present lower working, and is
found 70 be just as wide and just as
rich as on the upper level the net
value Of the ore win not be equal to
more than 52c per share on the out.
standing capitalization which Is
lower than recent market quotations
Probably the greatest disappoint.
ment with regard to North star, and
certainly the one event in the his
tory Of the mine which contributed ia
check the rise in the price OF the
stock. was the fact that the orebody
on the lO5Ofoot level reached the
zone Of crushing after it was driftet
upon for a distance Of about 240 feet
The drift has been continued, but tn,
creshoot has not been recovered.
II is asserted in some quarters
and with apparent show Of reason
that It is not to be expected tha
another shoot Of highgrade ore vii
be opened up on the 1859 in th'
drift which is now being continued
to the east The vein on the 105t
/ has not faulted. It is true, but it ha
pinched down and is not measuring
any more as to width or richness be
cause OF its irregularity. 1t is ais
said by competent Tonopah minini
men that If another shoot Of ore j
opened up in the eastern direction
will be on Belmont ground
The great future Of North star il
our opinion lies in depth OF the ore
body The same authorities who cor
tend that the eastern continuation q
the vein viii be found IN Belmon
ground appear 70 agree that the vel
as now uncovered on the North sta
win be found to penetrate 70 grea
depth or until Il IS entirely cut o.
by change Of formation There I
Of course, no guarantee Of this
There is no question whatsoeye
about the ability OF the mine supe
intendent to make a mine out
North Star If the ore continues
: depth, but It must be admitted thi
= lthe mine is better than the marke
and that the market forces which al
committed to the destructive side
North Star under the present ma
agement are powerful enough to di
courage speculation in the issue
such an extent that the market pri'
may be kept down