The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-09-04

net profits for July and August.
added to the cash in bank June 80,
will permit of the distribution of
the September l dividend and leave
the 100000 surplus unimpaired.
Ore bodies are now developed to
such degree that quarterly divi-
dends of at least " per cent and
probably more can be depended up
on for some time to come, espec.
tally after the completion of the new
shaft.
Preparations for working the
mine on a larger scale are being
made. with the sinking of the Orig
relieve the present workings but
permit of the development of the
north end of the property, which is
believed to have large potentialities
This shaft has been fully equipped
with modern machinery adequate for
Extensive operations.
The physical condition of the mine
is highly satisfactory, with large ore
reserves blocked out. AS to ore re-
serves and the life of the mine, ref
erence is made to the statements of
/ Mr.. Turner in his report. The mine
/ has large possibilities not only on
/ the shale contact, but in the shale
itself and the contact of the shale
with the underlying alaskite.
In addition to the high grade, or
shipping ore, which occurs in unus-
ually large proportions in the mine,
there is an abundance of mill grade
/ ore which at present cannot be
! treated at profit, but which will
give large returns when suitable
process of treatment is evolved. Met
/ allurgists are constant at work on
/ this problem, and their success Will
mean a great deal not only to the
/ Jumbo Extension Mining company,
! but for the entire Goldfield districr,
as other mines have this character
! of ore in enormous quantities, but CT
no commercial value at present.
| Progress already made leads to the
confident belief that the perfecting
of an efficient process will soon be
announced.
! Stockholders are advised that it
/ is the policy of the management 10
be free and frank as to information
! about mine and corporate conditions.
/ At the end of every month an esti-
mate is published of the months
/ output. These estimates have ami
! formly been found conservative and
under the actual figures as deter
mined by final returns. AS against
the false. misleading and otter ma
licious rumors so gratuitOusly circu-
/ lated at intervals for stock market
purposes, stockholders are invited to
seek authoritative information from
official sources.
Superintendent's Report
4 General Superintendent Turner'S
report, in part, follows:
/ Development Work-During the
/ ~ months ending June 80, 1915,
5,S745 feet of development WORK
was completed, as follows: Drifts, q
/ 10 feet; crosscuts, 1,625.5 feet;
raises, 1865 feet; wines, ia Feet;
total, 5,S74.5 feet, at a total cost
of $5S,10427, or an average cost
of $3.50 per foot.
Operating Results-The mining
and development costs were $5.Sl
per ton, which includes all stopping
costs, and the cost of 5,S74.5 feet OF
development work The cost oil
mining, developing and milling in
Guiding marketing of concentrates, is
s6.72 per ton of ore produced.
The total operating cost, inclnd-
ing construction, is $7.63 per ton
of ore produced.
Poloverda Claim-In the Follower
da claim 1,354.5 feet of develop
ment work was performed during the
12 months, which together with the
slopes produced 1,42S.6 wet tons CT
shipping ore averaging $76.26 per
ton and 3,282.4 wet tons of milling
ore averaging $15.17 per ton. or 4
total value of $15S, S,736.S1, mine
sample.
The downward extension of tho
524 ore body in the Velvt claim has
CONTINUED On Page Eight.