The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-10-28
TONOPAH DEVELOPMENTS
SET FORTH IN REPORTS

Ia LANtlSiOh hCAS SCI
nay be discovered, there is every
likelihood that the Extension man.
aeement. with it's rare genius Of
locating and proving up such ote-
bodies, will get the extension of
those shoots, in this manner no.
only re%rpetuating it's wi existence
but providing the necessary incen-
tive Il the prosecution of work at
deep levels by other companies sit
uated on either side of its n~ortherly
extending group of claims.
Tonopah Mining Company
The Tonopah Mining company
made a substantial increase owe
the earnings for the preceding
month, from a smaller amount OF
ore put through the mill. This
is accounted for by the fact that
tie grade of ore has consistently
increased during the past month
or more. In August, the company
milled SO9S tons of an average
value of 1850, from which was
extracted 140,1S5 ounces of gold
and silver bullion.
The total value of the bullion in
August was $120,555, as compared
with $131,595 for September, and
out of this production the earn
irgs for August and September
were $59,57O and $62,770 respec-
lively.
AS one of the most substantial
dividend payers in the mining in
dustry in recent years, the Tono-
pah Mining company still ENJOYS
its prestige. Notwithstanding the
fact that there have been many at
tempts made to decry it, the com
pany keeps on it's way, sustained
not only by it's tremendous reserves
but by actual earning power at it's
Tonopah mine and at it's placer
operations in the Breckenridge dis
trict in Colorado.
Between February 28th, 1915,
and February 10Th, 1916, accord
ing to the annual report of the
company PuDllohOu III uc III
during the early part of last sum-
mer, there was produced at the lat
ter property nearly half a million
dollars in gold, resulting in ID profit
of over 40 per cent. After the costs
of operation were deducted out of
the earnings, a big sum was charg-
ed off for depreciation and a divi-
dend of 5 cents per share was de-
clared and paid.
The surplus of this company on
$275,000; and as the Tonopah Min
ing company owns five-sixths of the
TOnopah Placers company, it's
assets are increased to a substan-
tial degree by the actual market
value of the Placers company stock,
by the earning power
OF that company.
Early this month the Tonopah
Piacers company forwarded to the
mint at Denver two lots of bullion,
the production of the preceding two
weeks operations of the gold dradg-
ing boats owned by the company.
One of the boats, having a daily ca
pacity of 1000 cubic yards, is To-
Gated on the Blue river, about four
miles north of Breckenridge; an
other 4000-cubic yard dredge,
a Bucyrus, is at work on the
Swan river, and the third boat,
with a 200O-yard daily capacity is
in French gulch, both
these latter places being close TO
Breckenridge. The dredgers are OPP
lerated by electricity. and clean-ups
made three times a month.
Jim Butler Mine
An increase of over so per cent
hps been shown by the Jim Butler
Mining company in it's operations
the month of September, as
with the month of Aug
ust. There were 1852 tons of ore
during September, which re
in a total profit of $37,1O7.-
This is a most exceptional
showing. when the figures TO" the
preceding months are taken into
consideration. During August, there
1852 ION milled at the Bel
mont Milling company's plant at
Millers, which gave & net profit of
$24, 296, while as a result of the
July operations $25,124 was made
as the net earnings from the m!ll-
lag of 4752 tons of ore.
On The ~1700-foot level of the
Halifax Tonopah Mining company,
the cross-cut work towards the
north was pushed ahead in the
usual vigorous While the
is still in the same forma-
ton which it has been cutting for
some time past. an interesting de-
velOpment occurred during the
week, when a 15-inch quartz vein
was struck, which contained low
VaIueS For the nreSant IL 10 the