The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-02-28


week by b. f. Edwards, vice presi-
dent of the company, who expressed
himself as extremely satisfied with
its physical condition. In i've
ton with a representative of the
Miner with reference to the recently
declared dividend of 10 cents, pay
able on March 10th, Mr.. Edwards
said:
at should be clearly understood
that this dividend must not be re-
garded as a regular quarterly divi-
dend. The fact is the directors were
in receipt of a very large number of
letters from stockholders complain
ing of the large amount of cash re-
serve that was being carried in the
treasury and urging its distribution,
and we finally decided to concede to
their wishes and distribute this in
the form of a dividend. The earn
ings of the mine are of course in
sufficient to maintain a dividend of
10 cents every quarter, and even
with the additional unit OF the mill,
treated W. do not expect to be able
to do so. The object in increasing
the capacity of the mill vas that We
might arm about the same profits as
in the past, although treating an in
creased tonnage. There is a large
tonnage of low-grade ore in the mine
which must be treated some day, and
with a larger mill operated at the
same expense for labor as the pres
ent mill, we can mix this lower grade
ore with the better grade ore in the
mine and realize good profits from
it, so the public must not expect
profits to increase prOportionately
with the increased tonnage milled.
In this way we are simply following
the usual practice of the camp where
lower grade ores are milled with
higher grade ores, the object being
to mill the general average ore OF
the mine"
Work on the additional unit of the
mill is making good progress and ii
will probably be in operation be-
tween the 22nd and 25th inst.
The development of the property
continues to be most satisfactory al
thought no important change has oc-
CURED in the past week. Apart from
the development of the orebodies,
very little dead work has been &C
complished, this having been some
what hampered by the inability to
raise to the surface a large tonnage
of waste while the shaft is being re-
timbered.
The North Star
The east drift on the 1130-foot
level of the North Star mine on the
Macdonald vein is showing great i'm
provement this week, the face show
ing from 2R to 4 feet of good mill
ore of much better grade than last
week.
From the back of the face of this
drift a raise was started on low
grade mill ore, and this is now up
IS feet on a full face of ore assay
ing from SIS to $2S a ton, and the
indications are that a good body of
ore will be opened up in these work
ings.
The west drift on this level has
now encountered the orebOdy, and
drifting has been started west on
ore.
On the 1050-foot lever the Foot
wall vein has now been drifted on
for a length of so feet in an east
erly direction, showing an average
width of 3 feet of good mill ore,
and raises have now been started in
this drift preparatory to opening up
a stope. AS soon as the raises are
up far enough above the level drift
ing east will be continued.
On the 1200-foot intermediate
level, work to pick up the downward
extension of the vein on the 1880
loot level is still in progress.
The stope above the 1I30-foot
level in the west drift continues to
show a good width Of very good
grade ore.
In the past week five cars of ore
averaging So ton each were shipped
to the MacNamara mill, making a
total of 275 tons.
Due to the large tonnage of eA-
cellent milling ore already developed
in the Murray vein of the TOnopah
Extension mine and it's improved
in the Wine being sunk
from the 950-foOt level, it has been
decided to increase the capacity of
the company's mill as soon as pos
sible.
For this purpose an additional 8
by 16-foot tube mill and a Dorr
olassifier have been purchased which
arc tn he delivered in "a dayS. and