The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-10-10

1uc 1OhOPah hihih6 NOliPohy 10
sues a statement with regard to
property under option in Nicaragua.
Shipped out this week 10 bars of
bullion valued at $4,000.
Tonopah Belmont issued quarterly
report showing available cash re-
sources Aug. 81, $1,3S7,061. The
new vein on the 900 level from the
Desert Queen workings still showing
full faces of good ore in east and
west drifts, and a raise started from
the west drift showing a full face of
rich ore
Tonopah Extension now milling
over 200 tons Of ore daily. Shipped
out this week 20 bars of bullion,
valued at $4,000, the third clean
up of the mill for the month of Sep
TENDER.
7. w. Chandler appointed to the
West End Consolidated and Halifax
Tonopah mining companies in place
of s. H. Brady, who has resigned.
Halifax Tonopah encounters Ave
foot vein of promising ore on the
100 level.
Montana-Tonopah opens up seq
ment of the south vein on the 665-
foot level, three feet wide, averaging
$50 a ton.
Mizpah Extension sinking winze
from the 1160-foot level on eight
inch streak of very rich ore in ira
chyte formation.
The water in the Victor shaft now
being lowered at the rate of four
feet a day.
+. Tonopah Merger cutting station at
1235-foot level preparatory to cross
cutting to vein.
Rescue-Eula drifting east on five
foot vein from Wine below S0O-foot
level.
Jim Butler commences retimber-
ing of Wandering Boy shaft, and
production will temporarily be linn
tied to about 100 tons a day from
the Desert Queen shaft. This sec
ton of the mine showing large bodies
of very good ore.
The usual development in prog
ress at the Giysp Queen, Umatilla,
Buckeye-Belmont and Midway prop
critics.
Monarch P%ittsburg commences de-
velopment on the S50-foot level in
West End rhyolite formation.
Tonopah gold veins continuing to
develop in most encouraging man
ner.
TonOpah Mining Co.
The Tonopah Mining company has
issued the following notice to it's
stockholders under date of Septem-
Der rs, regarding it's operations in
Nicaragua:
In consequence of in
quiries respecting the interest which
this company has in the Panama
Mining company, we deem it import
ant that our stockholders should be
fully informed upon hat subject.
The Tonopah Mining company of
Nevada has an option on the proper
ty of the Panama Mining company in
Nicaragua, and has until the first
of February next to decide whether
it will take the property or not. In
case the option is exercised a new
company, controlled by the Tonopah
Mining company of Nevada, will be
formed to take title to the property
and operate it, and the stock of this
new company issued to pay for IT..
Forty per cent of the stock OF the
new company will be turned over to
the Panama Mining company to be
disposed of as it's officers and stock
holders may determine.
You will note that under this ar
rangement, if the option is exercised,
the Tonopah Mining company of Ne
wade buys the property and does not
buy the stock of the Panama Mining
company.
At present it seems that the full
period of the option will be consum-
ed before the board is ready to an
nounce it's conclusions respecting the
taking over of the property.
C. A. Higbee, Secretary.
1t is understood that the Tonopah
Mining company has surveyed the
route of a railroad to the mine,
which will only be constructed in
IuG 0Ncut VI IHC piOPOAIy OSAh6 P"A
chased.
In addition to this, the Tonopah
Placers company, a subsidiary cor
poration, is operating three dredges
on gold-bearing gravel at Brecken-
ridge, Colo, with most satisfactory
results, but no official statement re-
ferring thereto has yet been issued.
Practically no change has occurred
in the underground workings of the
company's Tonopah mines in the
past week.
Belmont
Accompanying checks for divi-
dend No. 81 of 25 cents a share,
amounting to $4,000, the Tonopah
Belmont Development company has
issued the following report for the
quarter ended Aug. 81, 1914: