The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-05-13

ZOOf tOnS, nv AOhOHoH
sion 1850 tons. the Jim Butler SOC
tons. the West End ASS tons, the
Montana 20 tons, the Rescue 1913
tons. the North Star 5S tons, the
Halifax 1S2 tons. and the M1dWa!
Al tons. the estimated value of the
GRE being S143.196. This valuation
is calculated On the gross milling
value OF the ore. Owing to the fire
at the Nillers plant of the Nevada
California Power company, which
temporarily put the transformers oct
Of commission. there is no report OF
production from the Tonopah Min
iag company.
The recent sensational rise If
silver. which has constituted a
practically unbroken advance since
the first of the year, has afforded
the greatest satisfaction to the big
and little producers OF Tonop6h,
with especial qualification to those
companies which were fOresighted
enough 10 store their surplus pro
duct. In the case of the Belmont
company. which is credited with
over 100000 ounces of silver IN
storage, the constantly advancing
quotations mean more than to prob
ably any other company in Tonopah.
With an annual silver production
OF approximately 100000 ounces
the increase over the price at which
the silver was held on the books
of the company, so cents, indicates
an enrichment of nor than 80
per cent, placing the mount ~
storage at a 100000 ounces, the
increase on the holdings of the
Tonopah Belmont company amounts
to ~s277.0OO over the book value
Of the silver.
The total earnings Of the Bel.
mont company for the first three
months of 1916 have amounted TO
S30O,263, which exceeds dividend
requirements OF 121a cents per
quarter. The increased earnings
will in future Justify substantial in
crease in dividend rates, and tla
attention of investors to silver pro
Queer securities will be correspond
ingly heightened. .
The regular report of the com
raRy which is generally issued prior
to the annual meeting of the com
pany, is being awaited with a
great deal of interest.
The annual meeting has been
postponed until some time later in
the month.
Mining conditions and results ut
the PRINCIPAL property of the COM
rany in Tonopah keep pace with
the increase in the prices for the
chief product of the company, and
marked improvement has been no.
ted on the 700 and 500 levels in
the lateral workings which are he
ing extended toward the east. The
weekly reports indicate greater
widths and increased values as the
workings in this direction are de
veloped; and in the vicinity of the
Rhyolite vein particularly it APP
pears that there are ever increas-
ing discoveries of new branches of
the vein.
TonOpah Extension
Together with the other produc-
ing companies of Tonopah the Elk
tension is benefited by the advance
recently in the price of silver.
Within a short time the mill
chnp1H no rynnino nt itS innrna.Ad
caDacity of $500 tons per month
over the present average rate of
reduction. All the machinery. in
Guiding classifiers, has arrived on
the ground, and is being put in
place as rapidly as a big force
of men can accomplish it. 1t is
expected that the g unit will be
in full operation by June Is and
undoubtedly not later than July /.
An anlysis of the earnings of the
comrany for the first quarter of
1916 will show that the require
ments for dividend purposes have
heen greatly exceeded by the prof
its earned, as published from time
to time by the company. Thus the
profits in January were $4,000:
in February, $6O,523, and in March
$7SS,246; a total of $197, 769. The
dividend requirements at the pres
ent rate, amount to $127,2SO which
leaves a surplus of $70,4S9. This
would be sufficient to pay an eX-
ira five per cen on the property
above the rate of the last diVi-
dend; and with the increase in
the price received for its product
over that in March. approximately
% cents an ounce. the earnings for
the second quarter will no doubt
he sufficient to justify the declare
ton of such an extra dividend.
Later on when the mill has increased
it's capacity by 33 1-3 per cent the
earnings are bound to be increa@-