The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-06-24

mill 274S tons during the week, the
Tonopah Mining 1000 tons, the To-
nopah Extension 1900 tons, the Jim
Butler 1000 tons, the West End 67S
tons. the Rescue 161 tons, the Hall
fax PA tons, the North Star 5S
tons. the Midway 81 tons, the Mon
tana 100 tons, and miscellaneous
leasers 81 tons, making the total
production for the week 1897 tons,
the estimated value being ~$1S6,126
tons. This valuation is calculated
on the gross milling value of the
ore.
The report of mill operations of
the Tonopah Mining company for
the week ending June Is shows that
an average of SO stamps were kept
dropping and hat $3.50 IONS of ore
were put through the mill. The
ore maintained an average of s16.25
per ton.
During the past week there was
performed at the Silver Top 116
feet of development work; at the
Red Plume % feet were made in
extending the raise to tap the Mac
Namara vein, and 65 feet of new
ground was broken in the Sand
Grass claim, making a total of 203
feet.
At the Silver Top, on the 24O
level, vest drift 25S. which is being
driven on the quartz exposed some
time ago in the south cross-cut west
of the shaft, made a small amount
of progress on a full face of low
grade quartz.
On the $40 level the usual salts
factory distance was attained in ex-
tending the face of the west drift in
the foot-wall of the sO%uth-dipping
vein, which is being run for mining
purposes.
The stope at this level on the
%tinuously, and the regular tonnag-
es were extracted from the four
foot width of good milling ore.
On the 40 level east drift 474
vas continued intermittently during
the week, and a small amount of
~ vs. Coo was maui III cAltUulHS lie
face. Very little change is report
ed to be showing in this drift as
compared with last weeks report,
the advance being made in low
grade quartz, which measures about
one foot across.
TOnopah Extension
While the earnings of the Tono-
pah Extension Mining company dur
ing May are not yet available, pre-
dictions are being freely made in
Tonopah and New York that the fig
CURES will be close to the six-figure
mark. A comparison of the earn
ings for the first four months of the
present year will therefore be of in
terest, as showing the tremendous
increase in earnings since January,
1916. In that month, the company
earned $4,000. During the next
month, which was shorter by two
working days, the earnings increased
to $6O.523.
In March there was shown a
handsome increase, the total being
$7S,246, or very nearly 80 per cent
owe the earnings for February. AS
a result of the April operations the
company increased it's profit by
more than $1,000 owe the figures
for March, the amount being $50
1868.
The total earnings for the first
four months of 1916, therefore,
amounted to ~$2S7, 632. derived from
the production of 6,753.31 ounces of
gold and 710.7O4 ounces of silver
during such period. The average
price of silver in New York in the
same period was $50 cents per
ounce, so the figures show an APP
parent cost of nearly 1872 cents
per ounce for producing the silver
content of the ore, after crediting
the gold values against the cost of
such production.
The total net earnings show an
easy ability to pay dividends at the
present rate of Is cents per quarter,
and at the same time allow the COM
pany to lay aside a handsome re-
serve.
TonOpah Belmont
TIE big advances in the price of
silver during the month of May re-
suited advantageously to the Tono-
pah Belmont Development company,
as outlined by President Heller in
his nswe to inquiries by stock
holders at the annual meeting of
the company held in the east dur
ing the last days of May. This is
exemplified by the handsome in
crease in the net profits of the COM
pany during that month, the figures
given out showing that the COM
pany made net earnings of $126.-
263.93. an increase of about $4,000
over the month of April.
A gratifying feature connected
with the increase is the fact that the
earnings were made out of prOduc-