The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-12-05

notlces OF the afieged 1act were
posted.
However, neither was the dividend
passed entirely nor was the regular
dividend declared, the directors TAX
ing a middle ground by declaring a
dividend of 12k cents per share,
instead of 25 cents, which is the reg
ular dividend. This will result in
the distribution among the stock
holders of the tidy sum of $1S7,7 $50.
The dividend is the oath declared
by the Belmont company and is
payable Jan. l., 1915. The books
close for transfer Dec. Is.
The Belmont has now on hand,
awaiting a betterment in the mar
ket 100000 ounces of silver, worth
something over $1,000 even at the
present 10 wprice of the metal.
'ionopah Mining 90.
A rumor has gained considerable
currency that the Tonopah Mining
company has taken over a promising
prospect about 60 miles from To-
nopah."
Up to the hour Of going to press
the Miner has been unable to secure
an official statement, but 1t has been
known for several weeks that a rep
resentative of the company has made
an examination Of a property at the
camp of Ideal, about 20 miles north
of Nina. 4a
This property is controlled by
Jack Harvey, who has been out to
the camp for a number of days.
While, as stated, we have no official
confirmation, there is good authori-
ty for the statement that the Tono-
pah Mining company has made a
deal whereby they will do consider
able development, and if the result
proves satisfactory the property will
be taken over and paid for. The
showing is such as to warrant the
belief that a pay mine can be made
with the proper development.
At the local mine development has
proceeded along the usual lines with
about the usual results. The most
important change was on the 600
foot level of the Red Plume, where
there has been a material improve
ment in the ore being stopped from
the Red Plume vein.
Jim Butler
The development work at the Jim
Butler this week has been productive
of very good results, particularly at
the 7OO-foot level of the Desert
Queen shaft.
An especially good improvement
has taken place in east drift 1908,
which has been following two feet of
low grade ore. During the week
the values not only improved ma
terially, but the ore body has wild
ened until there is now between four
and five feet of good ore showing.
The ore has also improved quite a
little in raise 7O7, and it now shows
five feet of ore of good quality. Two
other raises on this level are also
going up in ore.
At the Wandering Boy shaft there
is considerable activity in connection
with surface and shaft improve
ments. The main air line and the
wire line are now completed and a
force is working on the guides for
both the shaft and counterbalance.
Excavation for the new foundation
for the compressor is now in prog
ress and a new building will be erect
ed over the compressor plant.
Midway
Notices have been sent out this
week to the stockholders of the To
nopah Midway Mining company for
the regular annual meeting of that
company, which is to be held Mon
day, January 4, 1915, at Phoenix,
Arizona.
At this meeting the question of a
reorganization of the company will
be submitted to the stockholders. AS
is known to our readers, the Mid
way has done no work on company
account for several months, though
a portion of the property has been
worked by the Montana-Tonopah
under lease.
The Midway company was practi-
cally out of money, Ind as the mon
ey market was upset by the Euro
pean wal it was impossible to sell
treasury stock except at a sacrifice.
It has been decided by the direc-
tors and large stockholders that the
best way to put the company on its
feet is by a reorganization, with
$50, 900 shares of preferred stock
and 1~,25O,OO0 shares of common
stock, the latter being subject to as
sessment if necessary. This is the
proposition to be put before the