The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-08-11
TONOPAH DEVELOPMENTS
SET FORTH IN REPORTS

pan Mlulns 1oVV lOuSt lhC AOhOpoi'
Extension $3.50 tons. the Jim Butler
500 tons, the West End 1869 tons.
the Rescue ISIS tons, the Halifax IS
tons. and the Cash Boy 50 tons.
making the total production for the
week 9O79 tons, the estimated value
being S15S,SS2. This valuation is
calculated on the gross milling
value of the ore.
The combined income anu surplus
account of the Tonopah Mining
company of Nevada and the Desert
Power & Mill company for the
quarter ended May 81, 1917, COM
pares with previous quarters:
The statement of quick assets
shows: Cash on nand May 81. 1917.
$500: bonds purchased, S54S.-
727; certificate of deposit. $4,000.
silver bullion stored, S272,S47; due
from smelter, $159,5SS; loans to
subsidiary companies. $1,93S,514,
total-$3, O32,S53. Deduct dividend
payable July 81. 1917. $150,000.
balanta S2.SS2.S53. Tonopah Pla-
GERS Co., SO IA per cent of which
is owned by the Tonopah Minins
Co. of Nevada, had net income for
the quarter ending May 81, 1917,
of $13,615.
The table gives an accurate des>
cription of the splendid financial
shape that the Tonopah Mining
company is in. following a rather
lean quarter. when the earnings
were about the lowest of any in the
cOmpany's career. An analysis or
the figures for the preceding quar-
ter ~discloses, among other things
an increase in earnings that is
nearly S5 per cent over those of
the quarter ending February 2Sth,
1917, when the company earned
$146,43O.
The Tonopah Placers company
also shows a satisfactory increase
amounting to about 35 per cent
above the net earnings for the three
months ending February 2Sth,
1917. While this is a very crafty
ing showing, the current quarter
should show a tremendous advance
in earnings, for the reason thai
since the quarter ending May 31st
closed, the dredge boats have been
working at top speed in the gulches
around Breckenridge, and the re-
ports emanating from that camp
are of the most glowing character.
In addition the company will no
doubt soon begin issuing reports as
to the production at the Eden Min
ing company's property in Near
aqua, where the mill has been run
ming for some time on the ores
from the mine produced through
the big working tunnel.
TOnOpah Extension
The greater part of the past
week at the Tonopah Extension
Mining company has beer devoted
to the dewatering of the Victor
shaft. Another interruption in the
power service a short time ago re-
suited in the filling up of the shaft
so that operations had to be sus-
pended on the 16S0-foot level. The
interruption vas cured by the res
toration of electric power and the
ability of the management to cop
with the unexpected situation and
during all of last week station work
was continued as usual.
To avoid a recurrence of the
water troubles. the management
has deemed it the wisest policy to
make an attempt to eliminate any
possibility of the work at the lower
level being delayed by the same
difficulty that has been experienced
in the past, and the larger part of
the energies of the management
have been devoted to pulling the
water from the shaft to such Il
depth as will make unlikely a repe-
tition of the former adverse con
ditions.
With such work in progress, Il
has been practically Impossible 70
continue the work Of cutting the
station at the 1850 foot leve!.
which, by the way, is Yery ne1rly
completed, and sucn operation,
have been ordered discontinued f,r
the time being. So soon as the
= ater is removed 4 a sufficient
depth below the 16S0-foot level
and there is a minimum of danger
established, SO far as flooding of
'he compartments and he equip.
ment is concerned, the work OF
completing the station and of lat
eral development will be carried
forward and fastened as fast as
circumstances will permit.
The final cleanrp Tor the month
OF July has been finislrH. and the
shipment will undoubtedly go for
ward today. While nc estimates
have been furnished, it Is SAFE to
assume that the shipment of bull
lion will be equal in value to that
of previous reports.
Development work at the Exten-