The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-11-28

Wis
s2O3,6 64. The tonnage is very
near to the average but the value is
less on account of the low price of
silver.
Tonopah Mining company has no
important changes to note, devel-
opment and production being nor
NAL and with the usual good re-
suits. Encouraging reports con-
tinue to come from Panama Mining
company in Nicaragua, whose prop
erty is under option to the Tonopah
Mining company.
Tonopah Belmont shipped ~ bars
weighing 1852 ounces and worth
in the ~neighborhood of 100000 as
the result of the cleanup of the mill
for the first half of November.
Tonopah Extension broke into
false footwall of drift on 1,170-foot
level, where the ore was four feet
wide, and a crosscut proves the full
ore body to be twenty feet wide
Mill building addition is now en-
closed and by December 2 will be
treating $50 tons daily.
Jim Butler company's annual re-
port shows production for year of
34,722 tons, with gross value OF
$744.799. Cash in banks September
so, 1914 was $1S5,7SO, loans on
collateral $23O,7S0, and in addition
a large quantity of silver produced
in last few months has geen stored.
The directors were reelected at the
annual meeting held last week.
Montana -'Tonapah treated SO3
tons of ore in the mill before it's
temporary shutdown. A promising
vein was cut on the 465-foot level.
West End on Thursday shipped 20
bars of bullion, weighing 43,4S5
ounces, and valued in neighborhood
of $4,000, as result of cleanup for
first half of November. Very high
grade ore was encountered during
the week after passing through
fault in vein.
North Star made usual weekly
shipment of 100 tons to West End
mill. No important change in mine
as result of weeks development.
Rescue-Eula's east drift from the
winze continues in low grade ore.
Halifax is preparing to retimber
several hundred feet of the shaft.
Stopping continues above the 1000
foot level.
Mizpah extension is preparing to
run drift on 1,160-foot level and
will later begin stopping from the so
foot drift from the Wine on the
level below. Made shipment to the
Montana mill of sever and one-half
tons that went $3.50 per ton.
Gypsy Queen made usual progress
of thirty feet in crosscut.
Buckeye-Belmont is pushing de-
velopment on the big ledge opened
up on the 1,2O0-foot level.
Monarch Pittsburgh driving cross
cut on the S5O-foot level in hope of
picking up the Murray vein-mak-
ing four and one-half feet per
shift.
TonOpah Mining Co.
Much favorable comment has been
elicted by the great increase of
profits in October of the TonOpah
Mining company over those for the
month of September, as shown BY
the report published in the last is
sue of the Miner.
The profits for September were
$3.50, but in October, despite the
continued depression in the price OF
silver, they jumped to $1O5,34O,
which is at the rate of $1,264,OSO
per year. The total profits of
$937,313 for the first ten months of
1914 are very satisfactory for a mine
that has produced as long and as
steadily as that of the Tonopah
Mining company.
The Tonopah Mining company has
paid dividends to date of $12,10O,-
900.
It must be remembered also that
these October profits come from the
local mine alone-nO receipts or
profits from subsidiary companies
are included. That fact is often for
gotten by those who know that the
owns the bulk of the stock
in the Tonopah and Goldfield Rail-
road company, which has paid splen-
did prOIltS, as Woii do Iho "in VI
stock in the Tonopah Placer COM
pany, which had net earnings OF
S~145,096.35 for the quarter ending
August 81, 1914.
In addition to the two subsidiary
companies named above, it is be-
coming evident from recent devel-
opments that the Tonopah Mining
company has picked up another live
one in the property of the Panama
Mining company of Nicaragua on
which it has a bond and option. The
Tonopah company has prosecuted an
extensive campaign OF exploration
on the property and the results have
been so satisfactory that the pay
tho bond have been