The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-06-30
TONOPAH DEVELOPMENTS
SET FORTH IN REPORTS

termediate cross-cut from raise s.,
which was started last week for
the purpose of prospecting for the
Belmont vein, has made good prog
ress. but as yet has lot succeeded
in accomplishing it's purpose. The
face of the cross-cut is proceeding
through the Mizpah trachyte forma-
ton, and a very good footage was
made during the week.
Tonopah Mining Company
The Tonopah Mining company
has declared its usual quarterly
dividend of Is cents per share on
the issued capital stock of the cor
poration. The company's books will
close at noon on June goth, and
open on July 9th, the shareholders
whose names appearing of record
on the first mentioned date being
entitled to participate in the dis
bursement.
With the distribution of the
S15O.000 called for in the dividend
the Tonopah Mining company will
have given back to it's stockholders
the sum of $500, 0s0 or nearly
400 percent on the original in
vestment, which, early in 1905. was
returned to the purchasers of the
preferred stock, who obtained their
common, or what is nov the capital
stock. as a bonus with their sub
scriptions to the preferred.
The success of the Tonopah Min
ing company has been the incentive
dustry of Nevada, generally, and
there is now little doubt manifested
that the huge measure of profit re-
turned to those who had faith in
the enterprise, at a time when min
ing was everywhere looked upon
with suspicion, if not with actual
disfavor, will be repeated when the
state has been given a more
thorough prospecting than has beer
possible in late years. That such q
result is bound to ensue is almost
guaranteed, by reason of the fact
that every known metal, from scrap
iron up, is recording almost I'M
believable advances in price, and
the certainty of return to the pros
pector is the most important factor
in opening up the mineral resources
of the state, which will be reflected
later in the reckoning of capital
and the greater development of the
industry.
The patriotism which was so
strongly evidenced a few weeks ago
by the Tonopah Mining company,
when it subscribed to 100000 of
the Liberty loan bonds, was reiter-
ated through the announcement
made by the Philadelphia offices Of
the company that it's board of di-
rectors had, at their dividend meet
ing held on Thursday. appropriated
the sum of $4,000 to be used as a
contribution to the Red Cross fund,
and at the same time, the directors
of the Desert Power and Mill COM
pany, one of the Tonopah Mining
company's subsidiaries. passed ?
resolution to the effect that that
company should give $4,000 out of
its surplus to the cause. Both these
items have been credited to the
state of Nevada, whose subscription
to the Red Cross fund will be en-
HANGED in similar amount.
The report of mill operations for
the week ending June 18th shows
that an average of 63 stamps were
kept dropping and that 1919 tons
of ore, of average value of SIS
per ton, were put through the min
Nearly the average footage was
attained in extending the develop
ment and prospecting work through
this mine during the present week.
There was so feet of work done in
the Silver Top territory, % feet in
the Mizpah claim. and So feet in
the Sandgrass workings. at which
latter place the work consists of
putting down the Wine and in de
~velOping the ground between the
18th and 18th levels.
Cash Boy
The most important work at the
Cash Boy Consolidated mine at the
present time consists OF the cutting
out of a station at the bottom Of
the Wine which leads from the 1850
level, Excellent progress is being
made under Superintendent Dooley's
direction and the fact that no more
trouble is anticipated by reason Of
water in the winze is giving a great
deal of satisfaction to the manage
ment. When operations We're sus-
rended in the bottom because OF the
fact that the water in properties
along the same water course could
nCt be controlled there was a full
face of good grade ore, and sl,ce
work has been resumed the vein is
opening up bigger and better than
eNer.
While most of the energies OF the
company are directed toward de
velcping the vein at this. the lowest