The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-09-09

the mill 1884 tons, the Tonopah
Mining $500 tons, the Tonopah Ex-
tension 1900 tons, the Jim Butler
100 tons, Montana 230 tons, the
North Star SO tons, and miscel-
laneous leasers 80 tons, making the
total production for the week 1872
tons, the estimated value being
S203,576. This valuation is calcu-
lated on the gross milling value of
the ore.
The news items of most import
ance in connection with the affairs
OF the Tonopah Extension Mining
company for the past week relate
to the recent declaration of the
quarterly dividend, the plans for the
Victor shaft, and the highly salts
factory conditions existing in all of
the workings of the company's ex-
tensive property, not emitting re.
ference to the steady increase in
the price of silver and the effect
thereof on the present and future
welfare of the company.
The company authorized the pay
ment of Is cents per share on all
its issued stock, which means the
disbursement of over $4,000 for
this quarter to the stockholders of
the company.
A most gratifying aspect of the
company's operations for the past
quarter. from which the recent div
idend was supplied, is that in addi-
ton to easily producing sufficient
for quarterly dividend purposes. a
c0rs 'derable extra amount for fine
same period was added to the COM
pany's reserve. This is explained,
first. by the advance in the price of
silver, and, secondly, by the in
over and above what might be X
planned by the advance in the value
Of the metal.
In reference to mining operations
and developments. the chief inter
est for the present centers about
the preparations that have lust
been completed for the sinking of
the Victor shaft to the 1800-foot
level from it's present depth of
1910 feet.
AS previous reports for some time
have shown, the work of prepar-
ing for resumption of sinking at
this point has been fraught with
numerous p%erpleXing difficulties.
TonOpah-BelmOnt
The recent developments which
have been forwarded at the Bull
Moose mine, in southern Nye coun-
ty, were of such an unsatisfactory
nature that the Tonopah Belmont
Development company has declined
to exercise the option which it had
secured on the property. This
action was decided upon while
President Heller was in Tonopan.
The company ~endeavored for over
half a year to prove that the pro-
position was a paying one, but
the opening up of the property on
deeper levels failed in disclosing
a sufficient amount of profitable
ore, and finally led to the surren-
der of the option.
General Manager Bradshaw left
Tonopah on Thursday morning Cor
Colorado, where he goes to inspect
properties which the Belmont COM
pany has under option. He is on
the move all the time. having re-
turned from the Surf Inlet mine
only last week, at which place he
and President Heller went over the
development and other work
thoroughly.
At the local property, the new
strike on the 1400-foot level has
aroused the keenest interest on the
part of the mining fraternity. So
far as can be learned the discovery
is an absolutely new occurrence.
Tonopah Mining Company
There is very little out of the or
binary routine in the present report
of the Tonopah Mining company
concerning it's mining operations. In
the matter of footage, almost the
same rate of advance was made in
extending the various headings tha'
was shown during the week preced-
ing. Developments made uniform
progress and while in some cases
the results were not all that were
! to be expected. on the whole thl
report shows a very satisfactory con
dition of affairs to exist.
The discovery of the vein, made
last week in the SOuth crOSS-cut No
ga from the Silver Top shaft. an
crossed the attention of the man
agement. The result of this work
was somewhat of a disappointment
but enough development work ha:
been done to practically identify thf
new discovery as an extension o
the south dipping vein.
It has the same pitch and strike
90 tho last named vein For rhf