Tonopah daily bonanza., 1914-06-26

mont property and used for filling
Slopes, the further sinking of our
winze may be prosecuted to a much
greater depth at a comparatively low
cost fully IS per cent less than to
hoist 10 our 1000 level, tram 1900
feet to our main shaft and from there
hoist again to the surface. In other
words. the 1870 level would become
our main operating level, for this
section of our estate. and an addi-
tional 500 feet of sinking can be
done at a cost of little more than II
done from the surface. The object
of this work would be to reach the
block of trachyte, containing the Bel
mont, Lille Belle and Shaft veins,
on its dip TO the east.
"As stated by Mr.. Lawry, the most
important discovery in your property
during the past year was that of
Mizpah trachyte. on the 1.155-foot
level at a distance of 660 feet east of
the Belmont property line This has
been proven to be $50 feet In width,
and the disclosure of these small
stringers, carrying high values in
first period ore. has removed any
doubt that we may have had at the
outset as to whether or not the for
nation is trachyte
THE development Of this block OF
trachyte is an unquestioned neces-
sity, and negotiations are now pend
ing with the Tonopah Halifax com
pany by which 1t is hoped contract
driven from the 1.400.foot level in
their shaft to the northeast through
this body of trachyte, thus prospect
ing II at $50 feet greater depth than
We now have it. The presence of
the three rich stringers on this level
indicate an ore body and it is hoped
that the contemplated crosscut will
reveal it"
Mr.. Knox concludes his report, af-
~ ANfAtNihb INV AohAh5 oNVt VI AhS
Boston Tonopah. as follows:
Recent developments on the west
ern slope of Mt oddie, particularly
the discovery OF the Tonopah Merger
vein, have brought the Boston Tono-
pah into line of possibility, as the
Tonopah Merger vein, projected on
its eastern strike. should eventually
pass through the property. The re.
cent developments in the North Star
4 property are also of importance and
value to the Boston group as 1t Is an
indication that the veins running to
/ the north of the Mizpah vein may be
/ expected to continue on their eastern
strike: another condition which
makes the property Of value and vital
/ Importance to the Mizpah Extension
company is the fact that the largest
and strongest vein so far encountered
on the 1000 level of the Mizpah FIX
tension. 800 feet south of the shaft
IL projected to the surface on III
present dip, viii undoubtedly ape,
in the Boston Tonopah territory
AT the beginning of the year tn,
total indebtedness of your compan!
amounted to $52.94746. due to indi
viduals. as follows; John r. Braun
$22 2.1Ss05; Charles f. Knox, $24
s2S so; VIM. p. NJ Braun. $6sS.61
Jas l.. Butler, $2.2s4; ] II. Jenkins
J s3,0S3.
This Indebtedness was discharge,
by the lsuance of 1O5.ss4 shares o
treasury stock at so cents per shar
Cmarket value at that time 80 cent
per share).
"ln addition to the above. Messri
r John F. Braun. VIM. = NJ, Braun an
Charles T. Knox have each purchase
e 10000 shares at 50 cents per shar
}, during the year. There are sufhclen
y funds in the treasury and ayailabl
for three months work and for
longer period II contracts are close
= with belmont and Halifax companIe
= as this will reduce expenses very nj
terlAlly."