The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-10-21

has just been issued from the COM
pany's office in San Francisco, con-
tanning a statement by Louis d.
Gordon, president and general man.
ager, and supplemented by the
more complete report of the gen.
eral superintendent, r. H. Ernest.
Mr.. Gordon assumed the manage
ment and presidency of the COM
pany early in January of this
year, upon the retirement from those
positions of James r. Davis, under
whose personal management the
property was brought out of the
prospect stage and made a produc-
ing mine of great value. Mr.. Davis
continues as yice-president and a
director of the company.
The report just issued deals more
particularly with the placer opera
tons of the company and the text,
in part, is as follows:
The report of President and Gen.
eral Manager l.. d. Gordon says:
Negotiations were begun in Feb
ruary of this year with the Round
Mountain Power & Water company,
locking toward the acquisition of
the water rights, pipe lines, and
other property of that company in
the Round Mountain district. On
March 18th this year these negotia-
tions eventuated in the purchase
by your company from the Round
Mountain Power & Water company
Of all it's water rights in North JEFF
f~erson, Jefferson, ~Shoshone, Slaugh-
terhouse and Shipley canyons, and
a complete hydraulic installation
from Jefferson and Shoshone cam
yons to Round Mountain, together
with the North Jefferson ranch,
Enghouse ranch and Barker ranch,
an assignment of all its leases in
the Round Mountain District, and
one fractional mining claim for the
sum of $4,000. 100000 of this
amount was paid in cash, and three
~non-interest bearing notes of your
company of equal amount, due
March 10th, 1917, March 18th,
1918, and March 10th, 1919, secured
by a mortgage On the property con-
veyed, were given in payment of the
remainder of the purchase price.
The use of this additional water
has enabled us to handle a larger
yardage than heretofore possible.
and to greatly reduce our costs per
yard.
Following is the report of r.
H. Ernest, the general superinten-
dent:
Construction work on the Jet
permitting water to be turned into
the line On June cath, 1915. The
main failing flume, 200 feet long
Ia completed to a point requiring
the use of a giant to cut a branch
race into the block of ground selec-
ted for hydraulic mining during the
~emainder of the season. Active
hydraulic mining began on July 18th
and continued to September 3rd,
when the flow Of water in Jet
creek had decreased to such an
extent as to make it advisable to
utli4Lc IL III ClcdIlluS up lHc UGH
rock which had been exposed.
1880 yards of gravel were hy-
draulicked yielding $36,413.70. OF
this amount $26,997 was recovered
from the boxes and $9,416.63 from
the bed rock. The total cost was
$11.O5S.1S, leaving a net realization
of ~$25,355.52. The value per yard
recovered was $2.OO6 and the total
cost per yard $500, divided as fol-
lows: hydraulicking, 1896 and bed
rock cleaning $.214 per yard. The
net realization was 1897 per yard,
representing a profit IN operations
OF 69.6 per cent.
In November hydraulic operations
were resumed with one shift. Dur
ing December and January 80 days
were lost because of low water and
freezing. By closing the control
safes, it was found feasible to back
up the water in the pipe line and
obtain intermittent runs with in
creased flow and pressure. Up to
March LIST, 1916, 5272 yards were
handled, the value recovered being
$9,2O3. 90, the total cost $~5,397.32,
leaving a net realization of $500
80. The value per yard recovered
was Stag, the cost $1,023, leaving
a net realization of $.723 per yard.
representing 41.S per cen of the
value recovered.
The costs during the above men
toned period were exceedingly high,
due to the diminished head OF water
and difficulties incidental to opera
ton during winter months. 1t vas
considered advisable to wash this
block of ground, as II was entirely
covered with a waste dump. which
would have hindered mining opera
lions during high water season, as
such material is carried through