The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-02-26

1NAAt ~ 49,
the week, the Tonopah Minirg
POPS tons, tie Tonopah Extens'cT
1900 tons, the West End $50 tons,
the Jim Butler 700 tons, the Mid
way 120 tons, the Halifax so tons.
the Montana 260 tons, and tiI':
North Star 5S tons, making the to
tai production for the week 500
tons, the estimated value be ns
S1S1,SG0. This valuation is caicI-
'oted on the gross milling value of
tks ore.
IL is reported by way of New
York that the option which thu
Tonopah Mining company acquired
some time ago on the proper,y o.
the Turnkey Mining company IN
Nicaragua must be exercised on OF
before May "a, 1916, in order that
advantage may be taken of the terms
and provisions contained in the OPP
ton, unless of course, an extern
sion is granted to the company for
the further Investigation of the DOS
sibilities Of the ground owned BY
lIe lulhts COMPANY. "a pOSb
stated that the option provides for
the organization of a new corpor-
alton, with a capitalization of 81
900, 600 par value in the event the
option is exercised. The Tonopah
Mining company, un0er the terms of
the agreement, will receive, upon
the organization of this new COM
pany, a 60 per cent interest in tho
new corporation and the other 40
per cent goes to the Turnkey Min
ing company. 1t is also understood
that the latter company is to r e
ceive a cash consideration in addi-
ton to the stock interest, though
nothing definite has been given OIt
as to this feature of the option nor
has the amount CT the cash consil-
Grafton been made public.
The property of the Turnkey Miii-
ing company is located in the Bana
Cruz mining district, in Nicaragua.
and adjoins the claims of the Eden
terest in which is owned by the To
nopah company. According to the
report, Included in the Turnkey COM
pany's property is the Atlas mine,
which ic believed to contain the ey-
tension of the veins disclosed IN the
property of the Eden Mining com
pany.
Net profits earned by the company
in its Tcnopah property for the
month of January are considerably
less than have heretofore been re-
ported, but this is due to several
causes. The main reason is un.
d%oubtedly the greatly decreased
amount of ore that has been treat
ed at the mill, though it is probable
that the damage to the Mizpah hoist
through the fire at the compressor
house several weeks ago is account
able for a good part of the reduc-
ton in earnings. There is also tC
be considered the expenditure in
volved in the prospecting of several
properties which the Toncpah Min
ing company is examining in the
Tonopah district, the Mizpah Elk,
and the California and TOnopah, in
creasing the expenditures of the
company while no returns are be-
ing brought in from these proper
ties.
Another reason fer this decrease
in earnings is the fact hat during
the month of January a number OF
experiments have been tried at tho
Millers plant and as a consequence
the mill was not run to capacity; in
fact, during ONE periods in January
the average number of stamps drop
ping at the mill was but little over
half the total number of stamps.
AS compared with the preceding
month, the number of dry tons
milled fell from 1925 tons in De-
cemter to 7414 tons in January;
but the average value per ton in
creased to a slight extent, being
$13 as compared with an average o.
$12.45 for December.
TOnopah Belmont
The splendid condition of the
Toncpah Belmont Development com
pany is Illustrated in graphic man
nar by the continuing increases re-
ported as net earnings for December
and January over the figures pub
lished for the several months pre-
ceding those first mentioned. De-
cember showed a decided increase
in net earnings over those of No
vember and preceding months
and continuing the good example
furnished in December, a further
increase is reported for January Oh
this year. This amounts to nearly
an s per cent increase of December
earnings.
Superintendent Brashaw has not
vet returned from the Surf Inle:
mine, but he is expected to be pres
IN