The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-03-24
GOlOFIfLD CONSOLIDATED

tCohtinued from Page One
point, and on the sulphide ore the
ratio of extraction was satisfactory.
In August the entire plant was
changed to the flotation process.
and after three weeks run it be-
came apparent that the dewatering,
fItering and roasting capacities for
the tonnage of concentrate resulting
from the treatment of the entire
mill feed were entirely inadequate
and it became necessary to discon-
tinue the fotation process until adj
d~itional dewatering tanks and filters
could be installed. The condition of
the property does not justify the
expenditure necessary to provide
equipment for more than one-half
the daily mill capacity, and it is
planned in the future to operate
cne-half the mill with oil f~iotation
and one-half with the cyanide
process. 1t is the intention to make
this change about March first"
Ore in Sight
Ill COlllIIcIIlhS uPOh I'm
tons at the close of the year,
General Manager Hutchinson re-
ports that there are $4,000 measur-
able tons of ore in sight and that 1t
is safe to state that at least 100000
tons will be milled before profitable
operations will cease. He further
reports that he believed that the
monthly profit obtained for h past
few months will be maintained for
some time.
Leasing lnaugurated
BY resolution of the board OF
directors of the company IL was
decided to inaugurate a policy OF
leasing, and the same has since
been brought happily into erect.
Under what is known as the split
check" system, ground in the pro-
ductive area of the estate where OPP
erations nave been suspended, prlVl-
leees are now being extended, the
furnishing all supplies ex-
cept explosives, and after deductlhe
a sufficient amount to cover trans
portation, sampling, milling ana
metallurgical losses, a division OF
the remaining profit is made with
the lessees.
Development Department
In April, 1916, an exploration
and development department or the
m was organized, the object
of which is to search for and acquire
mines of promise, no matter Where
situated. The offices of this COM
pany are maintained in San Fran
cisco. and are in direct charge OF
+ A. Julian, a we'll known mining
engineer. The activity of the de
partment shows that TT properties
AVE been brought to the
of the department and OF the totai
III have been examined. None Oh
the negotiations has yet advanced
to a point where recommendations
property, the Tampa, near Santa
for purchase seem warranted. ohe
Iucia. Peru, is being developed with
a view of proving it's worth, but
work is limited.
A New Departure
During the latter part OF the
wear the board of directors or II
passed resolutions direct
ing the management to AXE mat
steps might be necessary to so re-
duce the cost of living to employees
as to make the wage scale In Goio-
field compare f%avorably with the
wages prevailing in other camps.
Accordingly a mercantile depart
ment has been organized ana d
store is now in operation
S~ecretary's Report
The report of Secretary A. H.
Howe is full of interesting data
concerning the Goldfield Consoil-
dated Mines company. 1t shows
that at the close of the year 1916
the issued stock of the company
consisted of 3,559,14S shares, cav
ing unissued 1,44O,S52 shares out
of a total authorized capitalization
of 10000 900 shares. This status
has existed since the year 1910.
The report also shows that the
company has paid "a DIVIDENDS
amounting to $S.15 per share n
a~egregating 28,999,S31.60. At the
commencement of the year h cash
in bank amounted to $573,37O.44,
while at the close of 1916 the re
serve had increased to $l,O2l'-
OS6.03.
Gross Production Staggering
The gross production from the
estate of this company to date has
been ~2,S44,S19 tons of a total gross
value of $7O,36S. 723.03. OF this
production $11.2O0.000 was made
by leasers in the early history OF
the property. and ~$2,7OO,OOO was
~, oo,et;tuapt cOmDanieS prior