Mohave County miner., 1916-08-19

principally to the 3OO-foot level, which
 is the top level in the mine that has
 ore. There the ore is of great value
 and will average better than S1OO a
 ton. But there is a probability that it
 has not the width of the lower levels,
 and that the drift takes it all in.
 With four years ore now blocked
 out the management is pursuing a
 policy of not putting in sight further reserves until there is a stronger de-
 mand for them. It would not take
 more than three months to double the reserves of the mine. This could be
 done by sinking to the 800 or 900
 level.
 At that depth the new shaft, which
 is designated as No. 2 and is the one
 with the 75-fOot gaIlows frame on the
 hill, should drop into the ledge AS
 to values of depth, that has already
 been proven in the Tom Reed, and the
 Goldroad also for that matter, and the
 Eastern has them down with greater widening and amply rich for milling to the 665-foot level.
 The reserves of the mine have been subject of no little discussion of late. It has gotten into public print, but that is only one of the slightest evil dences of the amount of discussion on the same topic in the inner circles of the company. One idea is to make the figures inclusive and the other ex- elusive. The latter prevails and as a policy has the official stamp of the company, but officials who are re- sponsible for it have said to associ- ates: "Of course, there are other ways of figuring it, and you can figure it otherwise, if you like" The adopted policy, however, is to take absolutely no account of reserves unless cross cuts from wall to wall are actually | there and finished. This means elim- ination of hundreds of feet of drifts | with as good values on an average, 1 but the blocking of which by ledge | has not been done. There are ends of such description to all drifts. There are also various places where one level has run out the ore further than another, either above or below as the case may be, with none of these "extras" counted.
 Then what is more astonishing still is that only 50 feet between levels are reckoned to have the same values as the levels themselves. The others have been deemed to be there and their val 1es have been computed at exactly the level values. Anyone can see that mistake is possible, for the values may be only one-third after 50 feet and the company, therefore, may be giving the mine the best of it.
 The management states that the reason that such ratings are made be- tween levels is the fact that raises have not been put up to connect them ever 50 feet in order that the ore may be sampled. As a matter of course that would mean, to be still more ac- that a cross drive in each one should be put through from wall to wall. With that done there could be 10 question as to whether the rating of one-half is too high and that of ,ne-third should be submitted.
 As these calculations apply to the spaces between four or five levels, without taking into account any ore whatever below the 665, it can be seen hat the discussions have dollars be- lind them.
 The company caused the publication If an article in a mining journal figur- ng the reserves after that manner. t was written by direction, submit ed to officials before going to print md, therefore, has the stamp of au- hOrization as being conservative.
 Taking all of these facts into con- alteration, it can be seen how the ange of reserves has been stated to ,e as high as s15,OOO,OOO and as low C IS $5,OOO,OOO. Yet other persons in a position to know detailed facts say S9,- 100000 is far too low to even be con- ervative
 With the intrinsic value of shares ,ased upon these figures it comes as part of the conservative reckoning ! f the company that they should be worth s5 each at this time Ask em- | ,loyes of the executive departments md they will name that figure. 9th ! ITS are more liberal and say they now Mudd, Jackling and Keith offer ' d Long & McIver $7.5O for every hare they own and claim that should ( ,e the market value now, based on I he showing in the mine. Still others ,au S10 sbo11Id ha tha rv1ofof fiop ord z