The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-07-24

but the values are low at this time.
The ore in the intermediate west
drift, off raise 55, on the Mizpas
Fault vein, at the 100 level, has
widened from one to three feet and,
while it is not SO rich, yet isgood
grade ore. The intermediate west
drift, off raise 80, on the Favorite
vein is now in fault matter. West
drift 1925 is still following a mar
row vein of fair grade ore, while
east drift 1927 shows Is inches of
good ore.
Tonopah Elk.
The necessary formalities for the
taking over of the properties of the
Tonopah Merger and the Tonopah
Victor mining companies by the To-
nopah Extension Mining company,
and the transfer of the stock of the
latter upon the terms agreed is pro-
ceeding steadily, but it will take
some time before the whole trans
action is finally completed.
There are about 1900 stockhold-
ers in the Tonopah Merger company,
and perhaps half as many in the
Victor. These must all send their
stock certificates to the companies
local offices here, where they are
Cancelled and a list made and sent
to the Tonopah Extension company
in New York City. A certificate for
the proper amount of stock in the
Extension company is then issued
and sent to the proper office in To-
nopah, after which it is forwarded
to the owner. 1t will be readily
seer that all this takes considerable
time and Merger and Victor stock
holders need o become alarmed If
the Tonopah Extension stock to
which they are entitled does not
reach them as quickly as expected.
There will be no unnecessary delay
by the officers of the different COM
panies.
There has been considerable talk
of increasing the Extension mill ca
pacity very materially, but Nall
ager Kirchen states hat there is
little likelihood of this being done
while the price of silver continues
to be so low. 1t has been the con-
census of opinion that the price of
silver was due for a substantial rise
and this opinion is still as strong
as ever-but the fact must be faced
that the advance has not yet come,
and until it is in sight there is no
inducement for a company as
strong financially as the Extension
to market any more of it's ores than
it is doing at present.
Jim Butler
The net profits of the Jim Butler
| Tonopah Mining company for the
month of June, as shown by the re-
port just issued, were $~34,777, a
decrease of Sl4.O16 over May, when
the profits reached the high-water
mark of $4S,793. The tonnage
treated for June, 6SO-was 2O2
tons less than in May, which would
account somewhat for the lessening
of profits, but it is quite evident
that there was considerable falling
off in the grade of the ore treated.
The earnings of the Butler company
have varied greatly from month to
tendency is toward greater earnings
and one whose opinion should carry
some weight believes hat they will
seldom in the future fall below those
of June.
An aggressive plan of develop
want ic hninU 90 rio6 nnt in the
mines, which should continue to
open up at least as much ore as is
being fed to the mill. What was
originally called the west raise, but
which is now known as raise SOL,
on the 500 level of the Desert Queen,
is looking very good this week and
is developing from six to seven feet
of a good grade of ore. A new
crosscut has been started on this
level to pick up the faulted segment
of the main branch of the south vein.
On the 600 level two raises are
going up on ore, and an intermediate
west drift which was started be-
tween the sixth and seventh levels is
showing from a foot to Is inches of
fair grade ore. There was an i'm
provement in the grade of ore in
raise TO on the 700 level, though
the width is the same-three feet.
Montana
Chas. E. Knox, president of the
Montana-Tonopah company, who ar
rived in camp last Saturday, received
a telegram Wednesday from Edgar
Collins, who is in charge of the
company's Commonwealth mine at
Pearce, Ariz., which contains most
cheering news for the stockholders.
The telegram reads as follows:
Bad Check Man Wanted
Wy ID Eduordc ic voptod in yVa.