The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-07-31

in ore. the intermediate east drift
on the Mizpah fault vein, off raise
So, showing three feet of fair
grade. East drift 1927 shows Is
inches of fair grade and the east
drift off the north crosscut shows
two feet of low grade ore.
AS a result of the cleanup of the
mill for the first half of the month
of July, the Tonopah Belmont De-
velopment company on Thursday
shipped SO bars of bullion. which
weighed 1922 ounces and are
worth in the neighborhood of &c.,
900. On Tuesday a carload of 10
tons of concentrates were shipped
which was worth about $4,000. A
shipment was also made from the
company's plant at Millers which
consisted of SO bars of bullion weigh
ing 1892 ounces and worth in
the neighborhood of $4,000. The
approximate value of the shipments
of bullion and concentrates from
both mills was $4,000.
Tonopah Mining Co.
The following notice accompanied
dividend checks and quarterly state
ment of the Tonopah Mining COM
pany of Nevada: The lower grade
of ore in your Tonopah mine and the
reduced price of silver have caused
the earnings of your company from
the mine to fall below the amount
required to pay the dividend of 25
cents per share per quarter. Large
expenditures are being made to equip
new properties and are likely to be
made for properties now under con-
s%ideration. These properties in time
should produce big earnings for the
Tonopah Mining company of Nevada.
Owing to these conditions togeth-
err with the unsettled finances or
the world. making the marketing of
our products at satisfactory prices
uncertain, your board of directors
may conclude that 1t is for the best
interests in connection with the ex-
pansion of the company's operations
to make a substantial reduction in
the next dividend.
There was an appreciate Increase
in the amount of new development
work at the local mines this week
and the mill was kept busy pound
ing on ore of about the usual grade.
There is no development work go
ing on at the $40 level of the Silver
Top, but a good production of ore
is coming from the footwall Of the
stope on the Valley View vein, west
of the shaft. On the 440 level there
is no stopping in progress and the
raise on the small vein is following
quartz that is too low grade to go for
ore. Work was intermittent on raise
562. on the $40 level but a. new
stope has been started alongside the
raise. Both raise and stope are
showing four feet of mill ore. The
stope on the MacNamara vein at this
level continues to look very well, and
from eight to nine feet of ore is
being broken down. The crosscut
on the $40 level has not yet
tered the veins for which it is pros
pecting and the raise on the West
End vein shows only low grade ore.
On the 700 level, the vein which is
being stopped is still but two feet
in width but the grade of the ore
is better than the ordinary.
TOnOpah Extension
AS a result of the cleanup of the
mill for the first two weeks of the
present month of July, the Tonopah
Extension Mining company in the
middle of the week shipped 35 bars
of bullion, which weighed 67,400
ounces and were values at $37,SO0.
While developments at the
Tonopah Extension for several weeks
have not been of the sensational ma
ture that they were during the time
that the 1850 and 1850 levels were
being explored and the splendid ore
thereon opened up, yet they
are highly satisfactory. 1t is not
we'll for the man to live on turkey
the veal around, corned beef and
cabbage one in a while makes a
change. 1t is similar with
mines. If there were no end to
long oreshoots, and if there were not
occasional narrower placers in the
phenominally wide orebodies, such as
there are in the Tonopah Extension,
would soon be worth less than
and the high priests of the
money market would figure on what
could be substituted for gold as a
money metal.
While it looks as If the end of the
first oreshoot on the hanging wall
vein on the 1860 level has been
and attention has been called
to the fact. that alone calls special
attention to the fact that the dimen-
sions of this oreshoot are phenom-
email, particularly where the grade
of ore is so good. The shoot is over