The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-08-19
1nce. is worth, on this basis, $92..

The nearest approach to these fiS-
ures was made on May Is Of this
year, when 5000 worth of bullion
and concentrates were forwarded
The other shipments made during
the fi.s six months of 1916, which
amounted to $4,000 and over were
made on Ian. s and April 8, when
the figures were reported at $780,
600 and $50, $50. respectively. These
shipments likewise included concen-
trates.
On the 950-foot level. a new piece
of development work has been pro-
jected. this being a raise, numbered
923, which has been started from
this level toward the Murray vein.
After making the usual satisfactory
rate of progress. the vein was tapped
during the week and is shown to be
ton.
1t is the intention of the manage
ment to continue the raise on vein
until it holes through into 922 Slope,
"'Nh - " bCihS al
ried on. The ore exposed where the
raise penetrated the Murray vein re-
turns assays showing it to possess
the general characteristics of the en-
tire orebody. it being of good mill
ing grade.
Slope 922 on the Murray vein at
this level furnished its regular salts
factory production. No change in
width or in the character of the ore
body has become apparent as opera
lions were extended in this stope,
the vein continuing to hold its width
of milling grade.
On the 1100-foot level the only
work under way during the week
was in the nature of extracting ore
from 211 stope. As is the case with
the stope above, on the $50 level,
there has been no diminution in
size of the vein nor reduction in
value of the ore. The stopping work
is proceeding over a 15-foot width,
as has been regularly reported for
many weeks, and the grade of ore
continues to be of good milling
quality
The work of retimbering the
shaft at the Mizpah Extension Min
ing company, which has occupied the
attention of the Tonopah Mining
company officials for several weeks,
has been completely finished, and a
resumption of work in the way of
development has been noted in the
workings from the bottom of the
winze, consisting of the extension of
the face of the northeast crosscut
on the 120O-foot level. Work is also
being extended in the face of the
north crosscut from the bottom of
the old winze.
ReScue-Eula Mine
Development operations are being
extended in No. / raise, which is
uD to a height of of about ITO feet
above the floor of the drift and is
still in very good ore. The manage
ment contemplates the extension Of
this raise until it has reached the
oOO-looI lCNOl, Whith II
the lowering of timber, supplies, etc.
In No. 3 raise only some stopping
work is being carried IN. Work is
being continued in No. 5 raise,
which was projected out near the
eastern face of the drift, and the
raise has reached a height of about
20 feet from the drift. The show
ings in the raise are reported to
be very satisfactory.
From the bottom of the winze,
a cross-cut is being sent out to pick
up the vein. This lateral has just
been started on the 1050-foOt level.
The latest report from the Tono-
pah Bonanza shows that the shaft is
down 1886 feet and the formation in
the bottom is of a very encouraging
character. 1t is the intention of the
management to continue sinking the
shaft until it reaches a depth of
1850 feet.
The splendid financial condition
of the Jim Butler Mining company,
at the end of the first six months
of 1916, is shown in a report com
ing from Philadelphia, which states
that the net profits for this period
amounted to $157,S37, equivalent to
a rate of IS Ia cents per share
yearly on the 1,71S,021 shares out
standing. The profits for the en-
tire year of 1915 were $1S6,72O;
in 1914, $11O,0S7, and in 1913,
$102, GS2; hence the report for the
first six months shows a very flat
tering condition to exist in the al
fairs of the Jim Butler company.
The statement also shows that
liquid assets as of July /, 1916, in
clude $232,S67 cash in bank; $685.
963 accounts receivable, and $780,
994 ounces of silver bullion in stor-
age, making a total of $4G6,S2S.