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

Illn6S was 1VsVOo tOho - 81
mated value of SCOTIA.
Tonopah Mining has opened up an
unsupported block of ore just be-
low the 500 level of the Mizpah mine
which probably lies between two
faults.
Tonopah Belmont directors, at a
special meeting held yesterday in
the company office at Philadelphia,
declared the regular quarterly div
idend of 12kc, payable Oct. 1, 1915
to stockholders of record Sept. Is.
Tonopah Extension declared INC
dividend. Profits for July were
s34,S37. The west drift on the 1850
level is being carried for a width
of 10 feet and the full face is high
grade ore.
Jim Butler has opened up south
branch of the south vein on the
700 level of the Desert Queen shaft
and there is three feet of good ore
showing.
West End has started east and
west drifts on the GAL level and n
ore averages good, with some very
rich rock mixed in.
Midway leasers are taking cut
considerable ore, all of which runs
we'll and some as high as 500 per
ton.
Montana Tonopah has 45 men
working on leases and III tons OF
ore were shipped during the week.
Mizpah Extension drift on h
1855 level has not yet picked up the
vein which was recently cut off b"
a flat fault.
Halifax continues development on
three levels without change.
North Star developing the gold
vein which is quite promising at
this time.
Rescue Eula has picked up vein
which was faulted on the $50 level
Vein has about the same width and
values.
Tonopah Bonanza shaft down SSe
feet and has passed through the
Midway or later andesite.
Umatilla diamond drill core has
reached a depth of 800 feet below
the 1900 level.
Monarch Pittsburg has some good
looking rock, carrying small values
in the new raise on the 1000 level.
Cash Boy has opened up vein on
1850 level and from a six inch
streak an assay Of $26 was secured.
Gypsy Queen has passed through
a nine foot ledge in the shaft. Val
ues are low.
Buckeye Belmont is driving north
crosscut from the 900 station, which
looks encouraging.
TOnOpah FIX.
At a meeting of the board of di-
rectors of the Tonopah Extension
Mining company held at the offices
in New York on Monday, Aug. %,
a dividend of 7 Lee was declared
which will be payable on Oct. l, to
stockholders of record on Sept. Is.
This calls for a total disbursement
of 95,43O being divided up between
1.272,415 stockholders as the for
mer owners of Tonopah Merger and
Tonopah Victor shares will partlcl-
pate in this dividend.
This is the sixteenth dividend to
be declared by the company and
when it is paid, will make a total o:
S9S7,143 distributed in profits to the
stockholders.
According to the report of the
Just issued the net profits
for July were $34.S47. This com
pares with $4O,34O for June an1
shows that the company is drawing
from still lower grades of ore while
the price of silver continues to bring
an a%bnormally low price.
AS a result of the cleanup of the
mill for the first half of the present
month the Extension this week
shipped Al bars of bullion. which
weighed 6,429 ponds, estimated val
ne of which is $52,400. This fig
ured in weight is next to the largest
shipment the company has made.
the shipment for the last half of
July only being larger.
The report from the mine this
week shows that larger bullion ship
ments, larger monthly profits and
larger dividends are in store for Ex-
tension stockholders, even If silver
should maintain it's present low
price which has prevailed for the
past year. 1t was stated last week
that it WIS believed the 1850 level
would compare favorably with the
splendid showing on the 1860 when
an equal amount of development
had been done. 1t looks as IT that
statement would have to be revised
as the republicans revised the tariff,
upwards. There is reason to @
lieve that the 1850 will show up
more and a better grade of ore on
the average than has been so far
demonstrated on the 1860 level.
TOnOpah Mining