Weekly journal-miner., 1915-05-05
OUTPUT OF TOM
 REED $1 100000 FOR YEAR
(Bv William p. De Wolff

OAIMAN, AriZ., April Z9.-Ne early the entire outstanding capitalization Of 909,555 shares was represented either in person or by proxy at the annual meeting of the Tom Reed Gold Mines Company, held in King man, Arizona, April 26th. The entire board of directors was in attendance and at the conclusion of business motored to this camp and made an inspection of the Tom Reed mine. They found the physical conditions below and above ground even more satisfactory than at the close of the previous fiscal year on April l, 1914, which in turn marked an improve ment over the fiscal year ending April | l, 1913.
 Pending the settlement for bullion shipped during the latter part of April, Superintendent Jones has not submitted his report for the fiscal year that closed on April 1, 1915. AL though tabulated figures are not as yet available I am authorized to state that the gross production for the year was in excess of $1,OOOOOO. Dividends for the year totaled 65 cents on the outstanding shares. The usual high extraction was maintained at the mill and cyanide plant, the average for the year being 97.05 per cent.
 Large Ore Reserves. The company enters upon the pres ent fiscal year with more ore in sight than ever before and with more de velopment work ahead than at any time previously. The ore shoot re- gently encountered in the drift west on the 1,O75-foot level is broadening and is maintaining its high values as development work progresses. It presents unmistakable indications of being in the zone of permanent gold enrichment. When first encountered in the crosscut sent out from the foot wall this ore body was practically | free of moisture, although on the up per levels the inflow of water neces- sitates constant pumping. Mir. Jones i informs me that the water Is now 1 seeping on the lower level and that he anticipates tapping it in volume when the crosscut reaches the hanging wall of the ledge.
 At the Tom Reed annual the old board of directors was reelected as follows: Charles Grimes, Charles Mushrush, w. C. Mason. Ed. R. Bra ley, John Sprague, N P. Moerdyke and w. J. Lawrence. The first week in May the directors will meet and elect company officers for the cur rent fiscal year. It is stated the per sonnel of the latter will remain un- changed, as follows;
 Charles Grimes, president; Charles Mushrush, vicc-presidcnt; w. J. Law renee, secretary; N. P. Moe-dyke, assistant secretary; Charles Grimes. treasurer; John Sprague, assistant treasurer; S. s. Jones, superintendent; and Bert Launceford, assistant super intendent.
 Groups Optioned.
 A. K. Wheeler and associates of Los Angeles, have optioned the Lazy Boy group of five claims for $5O!OOO. The acreage is located between the Iowa and Paragon groups and is con sidercd one of the most promising prospects in the south end of the dis trict. Development consists of two shafts, each 65 feet deep, with cross cuts showing 10 feet of ore that as says as high as $10 per ton.
 l The Esperanza group of eight claims has been optioned by Joe Krauss to John F. Withers and asso- ciates for $13O,OOO The largest ledge in the district passes along the length of five of these claims. Two tunnels, CdCn lUU IGCl lOilS, IldhC DSNh ullN Ni4 into the ledge Each shows a ten-foot face of ore that samples from $1.5O to $ gold pe- ton.
 Pittsburg Development.
 Modern machinery and mans in genuity have won the fight with the flow of water which for thirty years threatened to inundate the Pittsburg mine. During that period it required the constant use of pump and boiler to cope with the flood tapped when the ledge was entered on the 30O-foot level. When the miners were enabled to return to the face of the crosscut, howeve-, they found it filled with ore similar to that showing in the Tom Reed mine. The drive has now been extended to the footwall of the ledge as a preliminary to drifting 300 feet to the east and west on the vein.
 Where opened on the 100-foot level the ore body is 42 feet wide. A drift | west along the hanging wall for dis .o,.o of 6O faaf d;ccIOrad yo1,,ac |