Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-05-16
zABRISKIE TELLS
FUTURE PLANS
WEST END
COMPANY
DECLARES BoRAx SMITH WILL
NOT LloUiDATE SINGLE
SHARE OF STOCK.

When the news Of the supposed
failure Of r M CBorax) Smith reach
ed the Curb there was considerable
liquidation of West End, which
promptly sold down to 81 lie but
quickly recovered on bidding from
Tonopah to $lA, at which figure il
has held since, Col. c, b. zabriskie,
a director OF the West End Co., when
seen by a representative of the, New
York Mining Age in reference to the
influence of Mr. Smiths troubles on
West End, said.
You can say for me that Mr..
Smith will not liquilate a single
share of his holdings of West End
Consolidated, which amounts to about
100000 shares out of a total capi.
talization of 100000 shares. Mr.
Smiths difficulty does not by any
means mean that he is insolvent
but merely that he has found that he
is carrying too many enterprises
alone and that he has invited 9th
ers to share his activities with him
AT the West End mine can say
that we have practically doubled our
ore reserves within the past four
weeks. We have sunk winze on
the main West End vein from the
fifth to the sixth level, which, on ae-
count of the flatness of the vein, is
a distance of 28S feet. This entire
distance shows a good milling grade
of ore (slS TO 500 per toni across a
width of from six TO as high as IS
feet, and besides this milling ore
there is a high grade streak on the
hanging wall from three to five feet
in thickness and which yields as
says Of from 800 to 1925 per ton.
Both the milling ore and high grade
have proceeded all the way down in
this. winze, and as this ore, body has
been opened for a linear distance Of
lS0 feet ON the fifth level. with the
end not yet in sight, il is beyond
question that we have opened up one
of the most important ore bodies IA
the Tonopah camp.
"On the 500 foot level of the prop
erty We have four feet of high grade
milling ore in the lower contact vein
which carries besides several small
stringers of very rich material We
also have large ore bodies opened
up on the third and fourth levels
and are drifting on the 600 foot
level to connect with the winze above
mentioned In addition TO these ore
bodies we have also recently opened
up about three feet of very good
grade ore on the third level of the
Ohio shaft, and as these workings
are away to the west of all our Other
developments and in entirely virgin
territory, the importance of this de
velopment cannot be oyerestimated.
"The plans have been perfected
and machinery ordered to increase
the capacity of the mill from $50 t
200 tons per day AS the ore W,
are working in is of much higher
grade than we have heretofore treat
ed, this fact together with the in
creased tonnage, will mean largel!
increased earnings to the compan!
during the coming year. Our ne
profits for the month of April wert
, S27 900, and during the past year ne
profits were $332,OOO The compan.
has no Indebtedness and owns out
right 100000 shares of the Halifa'
Co. out of total capitalization o
500. 000 shares issued and three
eighth interest in the Independent
Silver Mining Co, In addition t
these holdings we have more tha
100000 cash in the treasury
while the directors have as ye
: taken no action upon the matter Q
dividends yet, | can say that som
action regarding the distribution @
profits is hardly likely to be dc
ferred much longer"
Estimating from the above wit
the increase in the mills capacit!
even though no account is taken {
the new high grade discoveries, earl
ings for the present year should nc
fall short Of 100000, or at the rat
I, of &c per share annually on the i
sued stock. Profits should, howeve
be still further increased through tn
u high grade streaks referred to in tn
winze between the fifth and sixt
levels.