The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-08-07

ing the week. This same vein was
.prospected in the level above but
produced no ore of commercial val
ne.
Tonopah Mining Co.
The statement which was made
by the directors of the Tonopah
Mining company of Nevada, which
accompanied the checks for the reg
ularly quarterly dividend, caused
apparently a much greater signiti-
canoe to be attached to the action
than the circumstances warrant. On
Wednesday the stock broke to $5.25
from a closing price of $6.S7k the
day before, though some of that loss
has been made up since. 1t not only
caused a big decline in the price OF
Tonopah Mining company. but
there was a slump in the entire To-
Itnopah list as a result.
In the first place it is by no
means certain that the next dividend
will be cut, it is only in the event
that silver continues to sell so far
below it's rue value, and the grade
of the ore in the local mines is too
low, that such action is contemplat-
ed. A very great improvement In
the grade of ore Is not looked for,
though the improvement for the
month of June vas sufficient to
boost the profits to a point that
would meet dividend requirements.
AS to the price Of silver making a
gradual or sudden advance, in the
near future, no n can state positive
ly. but that there will be a very
material increase in the price as soon
as the war Isl over, if not before, 70
one can doubt. It seems almost
certain that it is bound to go as far
above it's real value as a commodity
as it is now below it. In that case,
there would be a big advance in tho
price and those who have sold at
or about present quotations would
be the losers. 1t is even possible
hat silver will be restored to Its
place as a money metal that viii
make it worth 81 or more per
ounce.
Then again there is the fact that
the Tonopah Mining company is not
depending entirely on its silver prop
critics. In addition to it's interest
in the Tonopah & Goldfield railroad,
which is paving. it owns five-sixth Of
the Tonopah Placer company. which
earned $63,005 for the quarter end
ing May 81. AS the latter company
did not work all it's dredge boats
for the full quarter, it is likely that
the profits for the balance Of the
season will be greater.
TODOpah FIX,
The office force at the TonOpah
Extension has been kept busy for
the past three weeks with work IN
connection with the transfer Of
stock in the Tonopah Extension
company in the ratio formally
agreed upon. AS was stated in =
previous issue, the memorandum
list for the new stock must be sent
from here to the Tonopah Extension
office in New York. the certificates
returned to Tonopah and then for
warded to the owner. This takes
considerable time and some stock
holders of the Merger and Victor
companies have become uneasy and
sent inquiries regarding the delav.
There is no occasion for anxiety and
the new certificates will be sent for
ward as rapidly as possible.
M. R. Ward, president of the Ex-
tension company. and B. H. Camp
bell of New York city, a director OF
the company, spent several days at
the mine during the past week ana
made a thorough examination of the
underground workings. Mr.. Ward IS
a brother-in-law of Charles NJ.
Schwab and comes frequently to the
mine and keeps thoroughly posted on
ill developments.
: At the bottom level of the mine,
the 1850 level. there has been a very
material Improvement in the two
pieces of development now in prog
ress there. The west drift which is
going along the footwall of the vein
has been in ore of average grade
put during tn0 Wcoh lHOiO q ="
decided increase in the values, the
full face of the drift showing this
better ore. The raise which is going
ND on the hanging wall side of the
vein also shows a better grade OF
ore than was in evidence last week,
but the values are not quite so high
as in the drift. The fact that these
good values are found on the lowest
level Of the mine is not the least
pleasing feature of the Tonopah Elk
tensions outlook.
Jim Butler
The mining editor of the Philadel-
phia Press is authority for the state
ment that with the closing of 'ts
books for the initial dividend to be
paid Aug. 1, it a found that the
Jim Butler company has approx
mately 1000 shareholders. This is