The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-08-21

alone would not account for the drop
in profits. The fact that the aver
age price of silver was possibly less
in July than in any previous month is
sufficient reason why the company
should not put through a grade of
ore which would give returns much
above the present dividend require
ments. The profits for the month
of July are quite a bit more than
necessary to pay the dividends at the
present rate.
The Belmont company has discon-
tinued work on the Orc Belle mine in
the camp of Hart, Cal, and has
thrown up the option which it had
on that proerty.
A noticeable improvement took
place during the week in the west
drift on the 500 level of the Belmont
mine which now shows three and a
half feet of a good grade of ore-
there having been a slight increase
in the width and a more decided in
crease in values owe rthose of the
previous week .
West End
The development work which is De-
ing prosecuted in the disputed ter
ritory at the West End is meeting
with very satisfactory results. The
AL west drift was recently turned
into a south crosscut and several
days ago encountered the vein,
which is very wide and dips flat. The
crosscut will have to be continued a
considerable distance before the
footwall is reached. Very good
veins are in evidence in the portion
of the vein so far exposed.
East drift GAL, which was also
turned into a south crosscut, has
just encountered the vein, not enough
of which has been exposed as yet to
determine the width and values.
This is 200 feet on the incline below
the 600, or lowest level, where any
ore has heretofore been mined.
A thousand feet west of the GAL
workings above mentioned the usual
progress was made on Wine $50,
which is being sunk from the 600
level. The values in the Wine have
improved during the week and the
material broken is now going for
ore The winZe is down 100 feet
and a station is being cut, from
which drifts east and west will be
started.
Jim Butler
AS shown in the report of the Jim
Butler Tonopah Mining company for
the month of July, the net profits
were $34,777 for the preceding
month of June. There was a de-
crease of 172 tons in the tonnage
treated during the month, but as is
the case with the other companies,
much of the decrease in profits must
be attributed to the lower grades of
ore that are being treated during
the depressed condition of the silver
market.
Accompanying the dividend checks
for the initial dividend of 10 cents
condensed statement of operations for
the nine months ended June 80. The
net earnings for the 9 months were
$232,905, and miscellaneous income
brought the total net income 20
$23S,251. The available resources on
June 80 included silver stored at so
cents IN ounce, $254,SS6; sundry &C
counts receivable, $1S,733; cash,
$247,256; total, $52O,876.
TOnopah Bonanza
Not only those who have a direct
interest in the Tonopah Bonanza Min
ing company, but all who are inter-
ested in the extension of the produc-
ing area, as well as the life of the
TOnOpah district, are very much en-
couraged Ove the change in forma-
ton which has occurred at that prop
erty. The shaft at a depth of $50
feet passed out of the cap rock and
entered the Midway andesite. This
formation has since penetrated for
a distance of 20 feet and there ap-
pears to be little doubt of it's per-
manency.
In most of the producing mines
OF the TOnOpah district this ande-
site overlays the ore-bearing ira
chyte. In some cases the latter is
capped by Brougher dacite or Frac-
ton breccia, but in most mines, in
Guiding the TOnopah Extension, it IL
the andesite which caps the ira.
chute.
TOnOpah Elk.
The report of the Tonopah Extern
sion Mining company for the month
OF June which was delayed owing
to the unusual amount of work that
fell on the office force as a result
of the exchanging of stock in the
Tonopah Merger Mining company
and Tonopah Victor company = has
just been issued and shows that the
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