The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-11-10
DEVELOPMENTS
SET FORTH IN REPORTS

ing 1850 tons, the Tonopah Extern
sion $3.50 tons, the Jim Butler 500
tons, the West End 913 tons, the
MacNamara 476 tons, the Montana
1O5 tons, the Rescue 1875 tons, and
Midway SO tons, making the total
production for the week 1929 tons,
the estimated value being $17S,9O2.
This valuation is calculated on the
gross milling value of the ore.
During the closing days of last
week the cleanup of the preceding
fortnight's run of ore at the Desert
Power & Mill company, the milling
subsidiary of the Tonopah Mining
company, was made, and from the
refinery, as a result thereof, there
was sem to the smelters % bars of
bullion, which, according to esti-
mates placed upon the shipment by
officials of the company, have an
approximate valuation of $4,000.
AS shown by the statement of
net income for the quarter ending
Aug. 81, 1917, published last week,
the company earned in those three
months more than sufficient to pay
the regular dividend, which is at the
rate of 10 per cent e share on the
total capitalization of the company
1000, 900 shares. The statement of
quick assets, included in the report,
which was issued at the time the
checks for the last dividend were
mailed from the Philadelphia office
of the company, shows a balance OF
$2,S51,114, as compared with the
$1,462.914 reported at the close of
the corresponding quarter in 1916,
and $1,916,S75 for the same period
in 1915.
The Tonopah Placers company, OPP
Grated by the company at Brecken-
ridge, Colo, had a net income for
the three months ending Aug. 81,
1917, of $46,635, which is a very
favorable showing when contrasted
with the earnings reported for the
preceding quarter, which were given
as $13,615. OF course, during the
earlier period of the year, there
| we're included some weeks in which
placer operations on the maximum
scale were prevented by reason of
adverse weather conditions, but the
fact that the Placers company, five
sixths of which is owned by the
Tonopah Mining company, made net
earnings in an amount nearly four
times as great as those of the pre-
ceding quarter, is meritoriOus and
deserving of special notice.
1t will also be observed, from a
p~erusal of the statement, that the
Tonopah Mining company, with
keen business foresight, took adj
vantage of the stability in the
silver market during the period
mentioned to reduce it's stock of
silver, which on the 31st day of May,
1917 was entered on the books of
the company as amounting to
$272,S47, being carried at so cents
per ounce.
TonOpah Belmont
Recent reports, which have been
made on the outside properties OF
the Tonopah Belmont Development
company, are of the great st inter-
est tC the stockholders of The COM
pany as showing the progress that
the corporation is making in it's vari-
GUS enterprises, ell of which are
connected with the mining OF
precious metals.
With relation to the operations of
the at the Surf Inlet mine,
on Princess Royal Island, British
Columbia, which a month or so ago
started operations in the mill after
two a devoted to development
and equipment, a late report states
that the first shipment Of concen-
trates, amounting to 500 tons, was
made on Oct. as; that at the present
time the mill is handling 24O tons
daily, and it is expected to increase
this capacity to 800 tons per day
when the milling plant has been
fully tuned up.
Inquiry at the local office was
made regarding the correctness OF
the report. and the Miner was in
formed by General Manager Brad
shaw that the statement that the
shipment had gone forward was
news to him. The truth of the mat
ter is thai the mill has been run
! ming continuously for some time and