Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1914-09-17
German ReinfOrCementS Come
Battle Front Still UnbrOken
Tonopah Merger AnnualReport
Answers Recent Allegations

The annual report of the Tonopah
Merger Mining company for the fiscal
year ending April 80, 1914. has been
issued under date of September l.
The report contains some most inter
esting reading as, for the first time
since organization has the company
taken notice of various damaging ru-
mors affecting the interests of that
Among these it may be
that the ore of the Mer
ger has averaged $19 ton instead
of $40 as stated. Instead of an empty
treasury the company has S29,4S0
shares remaining for the construction
of a mill if the bond issue suggested
for that purpose is not approved.
The balance sheet shows a total
surplus of $17O.7o3.s5. including $751;
13154 carried forward as the profit
of the fiscal year ending April 30,
1914.
Regarding the many rumors circu-
lated TO the effect that the vein the
Tonopah Merger is now working
apexes in ground not belonging TO
your company" concludes John q.
Kirchen, general manager, "and there
fore the ore taken therefrom is
not your property, wish to state
there is absolutely no foundation for
such rumors. Neither has any neigh
boring company claimed anything to
the contrary"
Extracts from the reports OF Presi-
dent Key Pittman follow:
THE rumor to the effect ug, me
title to some of the ore within y, r
property was threatened by apex liti-
CATION, circulated and published by
stock 'manipulators for the purpose
of frightening stockholders into sell
ing their stock at a sacrifice, is de-
nounced as false and forever set at
rest by the statement of Mr.. Kirchen
In his report.
"Other false rumors and libels
against the company. circulated and
published through the same sources,
and apparently for same purpose, are
also definitely and finally put at rest
by Mr.. Kirchen's report.
"One OF these rumors was to the
effect that all of the treasury stock
of the company had been disposed of
and that the company possessed no
assets with which to construct a
mill. The report. shows that there is
unissued stock in the treasury
amounting to 329,4S0 shares. This
not only discloses that the company
has assets with which to build the
mill. but also proves that the com
pany has performed all of its large
development work since the first Is
sue of treasury stock out of the
profits derived from the ores in the
mine.
Another one of these libels wai
to the effect that it was probable
that the ore only went about so I
ton, and that the profits from mining
such ore would not be sufficient will
which to build a mill. The repor
shows that the average contents pc
ton OF the ore mined was .27 of al
ounce gold and $3.50 ounces silver
which at the market value of gol'
and silver at the time the report wa
made would be over $40 per ton.
Attention is called to the fac
that the report shows that the vein
} have constantly and rapidly improves
} In value with depth, the best show
} ing in the mine being on the III
} level. An ore shoot of 400 feet Ions
J of an average value of $40 per to
, for a width of 10 feet, is most n
markable and has been discovere
in but few mines anywhere in tn
world
"The fact that the mine has pal
all expenses from the profits on ore
is more remarkable when II is col
sidered that nearly all of the ore hi
been taken out of drifts and raise
as few attempts have been made
stope or do other form of develo
ment than blocking out of ore fl
. future mining.
"The development of the mine dr
ing the last two or three months HI
been greatly retarded by reason
delay in obtaining the necessa
If pumping facilities to drain the mir
d Such pumping facilities are now pi
o. vided and IN operation, and the mi
" is being rapidly drained through {
n, shaft of the Victor Mining compar
n which is north and west of the wo'
As ings on your property
80 "Recent development work fr,
m the Victor shaft has added grea
o. to the probable extent and value
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