The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-02-12

DuTlHS the past week the IOHO-
pah Belmont company tent to the
mill 3O4O tons, the Tonopah Min
ing 1926 tons, the Tonopah Ex-
tension 1900 tons, the West End
$40 tons, the Jim Butler 1000 tons,
the Midway 121 tons. the Halifax 80
tons and the Montana Tonopah 261
tons, making the total production
for the week S445 tons, the esti-
mated value being $177,270. This
valuation is calculated on the gross
milling value of the ore.
The process of development at the
Tonopah Mining company's prop
erty in Tonopah goes on in full &C
cordance with the systematic plans
laid out by the management n
the oft repeated story of good prog
ress in development and a satisfac-
tory rate of production is a mat
ter of further reiteration in this
weeks report.
AS is well known, the laterals
in the company's mine since devel-
opment was commenced under the
tHOTOuSH SNStclh duOptCu ny INV
company, have been run III cross
directions to the furthermost linn
it's of the property, that is, from
the east end line of the Desert Queen
to the west end line of the Red
Plume claim, and III the cross di-
rection from the north side lire
of the Blackboard and Mizpah claims
to the south side line of the Valley
View claim. At great intervals,
cross-cuts and drifts were projected
on the different levels, cutting the
orebodies into large sized blocks of
ground. These blocks are now being
reduced in dimension through the
running of intervening lateral work
ings, by which method the devel-
opmet of the orebodies is rendered
more comprehensive and complete.
And be it known that there Is
still a vast amoun of ore contain
ed within the limits of the com-
pany's property in Tonopah. Scat
tered all through the blocked out
portions of the mine are numerous
veins, streaks and stringers of ore.
carrying good values, and the de-
velopment work that has thus far
been done has proven that the ore
showings constitute a veritable net
work of veins and ~lenzes, the OK
traction of which will require many
years to complete.
TOnOpah Extension
The Tonopah Extension Mining
company continues to develop it's
property in such excellent fashion
that there is small wonder that
those who are usually well advised
in matters of this kind predict that
at the next dividend meeting of the
company there will be an advance
in the dividend rate to at least 10
cents a share quarterly. 1t is also
considered extremely probable by
reason of the expected large in
crease in earnings when the addi-
tional unit of the mill is in opera
ton, hat further advance will be
made over this rate. Indeed, to
show the confidence that they nave
in the property, some brokerage
firms are already predicting that
the stock will advance in price to
50 or $40 a share before the pres
ent rear is out.
The net profits of the company
for December amounted the sum Of
$~57,291.52, and while this is shown
to be somewhat of a reduction from
the earnings of the previous month,
it must be remembered hat the
Christmas holidays interviewed to
prevent a full months work being
performed.
Every department of the mine
and mill is showing the usual re-
suits. Development work was con
Quoted with more than the average
activity, and the record of footaSe
obtained during the week makes a
total of 342 feet. OF this PIP
feet were performed in No. 2 shaft
territory and 100 feet of new work
was made in operations served
through the Victor shaft