The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-10-20
TONOPAH DEVELOPMENTS
SET FORTH IN REPORTS

1850 tons, the Tonopah Extension
| $3.50 tons, the Jim Butler 500 tons,
the West End 9O2 tons. the Montana
1874 tons, and the Rescue 1914 tons,
making the total production for the
week 1882 tons, the estimated value
being s157,1S5. This valuation is
calculated on the gross milling value
of the ore.
The final cleanup for September
at the Tonopah Extension Mining
company's mine was made last week,
and resulted in the production of 20
bars of bullion. weighing 51,06o
ounces. The value which this bull
lion is estimated to have, accord
ing TO the statement of the company,
is $53,5OO. based upon the present
prices for silver.
The new discovery on the 1880
foot level continues to hold an I'M
usual degree of interest for the
stockholders of the Extension com
pany, but unfortunately, conditions
are such as to prevent a detailed re-
port OF the development. Upon
striking the vein and encountertng
an extra heavy flow of water, the
company decided to let the water
course drain for a time, with the in
tention of going through it and de-
termining more fully the possibili-
:, ties that exist, with regard to the
characteristics of the vein, and 9TH
err important features connected
with the discovery.
1t vas thought early this week
that the workings would be suffi-
GENTLY dry about Wednesday to per-
init drilling to be resumed and
more complete information and data
concerning the vein gathered. A
few rounds we're shot into the vein,
and from the observations taken
afterward it develops hat the vein,
which was thought at first to have
a northwesterly and sCutheasterly
strike, inclines more to a straight
east and west course, with the dip
at a flat angle to the north. Com
plete investigation could not be
made, owing to the fact that when
the rounds had been fired the water
again increased to such an extent as
, to p~reclue further development, and
the management is again allowing
the water to drain owe to the shaft,
where it is collected and pumped to
the surface. From the scant inves-
tigation made, however, it would
seem, according to reports, that a
fold in the vein had occurred at the
point where it was intersected by
the cross-cut, which made it appear
that the first report as to it's prob
able course was correct.
Operations at other levels in both
the No. 2 section and the Victor por-
ton of the mine continued at the
usual rate of speed, with little
change showing at any point. Th"
footage record for the week shows
that So feet of development work
was done in the No. 2 workings and
1870 feet in Victor territory.
Tonopah Belmont
simultaneously with the mailing
of dividend checks on Oct. 2 by the
Tonopah Belmont Development COM
pany, in payment to its stockholders
of it's SD regular dividend, a state
ment was issued showing the net
earnings of the company for the
three months ended Aug. 81, 1917,
together with a comparison of the
and for the same period of 1916.
In the six months hat have
elapsed since the starting of the fis-
cal year of 1917, the Belmont COM
pany, according to the statement,
has earned $553,110, an average of
approximately $4,000 per month,
At such a rate the earnings in the
first six months have been more han
sufficient to meet the regular divi-
dend requirements of the company,
a surplus of over 80 per cent remain-
ing after the dividends for the first
two periods of this year were paid.
During September the price of sill
yer averaged over 81, while up to
the present date in October the aver
age price has been slightly above 80
cents per ounce. Such facts warrant
the belief that the earnings of the
current quarter, which will end on
Nov. 81. will show corresponding i'm
provement. as the average price of
silver for the first six months of
this year was but 1929 cents per