The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-08-25


made within a few days, should. will
the present high prices of silver
maintained, he instrumental in in.
increasing the value of the bars oil
bullion shipped from the Tonopat
Extension every two weeks.
: Silver has been the par:;cIlai
nancial markets of the country, ow
ing to the extraordinary demand and
the consequent higher prices quoted
for il. During the week it suddenly
registered a rise of about three cents
per ounce, the quotations ;or the
past three days having been steady
at Sc 81. These have been eastern
quotations. whereas it is we'll known
hal western buyers are bidding .
couple of points above the eastern
figures.
While this factor has Teen instru,
mental in Strengthening silver stocks
to some extent, the full measure OF
enhancement may not be realized fol-
some time, owing to the unsettled
condition of finances induced by the
war. Experts in the realm of Fl.
nance, however, predict without res,
ervation that there is no question 0
silver continuing to rise, and this
must inevitably lead to better price,
for the stocks of the big silver fro-
ducing companies of the west.
Better progress is being made 81
the Victor shaft in the work of cut
ting a station on the 1850 level
There has been no interruption by
reason of water. which has been held
at its present depth, some distance
below the new working point, by
can of pumps, and all week the
shifts of miners were able to make,
good progress in advancing the sta
ton work.
The other development and pros,
pecting work, both at the No. 2 shaft
workings and in the Victor territory
totaled 127 feet. OF this amount 81
feet was accomplished in the first
mentioned section of the property
and 10 feet in the Victor ground or
the 144O and 154O-foot levels.
Buckeye-BelmOnt
Work atthe Buckeye mines has
been in steady progress as usual.
| The east drift on the 900-foot level
has been following a stringer of ore
which has been growing wider as
followed and appears to be making
into a body of it. The assay value
at the present price of silver will
make it a good $40 ore.
Jim Butler Mine
Last months net earnings of the
Jim Butler Tonopah Mining COM
pany were $53,564.02. resulting
from the production and treatment
of SIP tons of ore. The computa-
paying all expenses of mining
transportation and reduction, to
gether with marketing of the ores.
made a net profit of over $17 per
ton on it's production. The increas-
ed price of silver has 4 doubtedly
been the principal contributing fac
tor, and the substantial improve
ment in the silver market during
August, with the metal reaching
the high price of sc "a, should
result in showing proportionate in
creases in the profits for the pres
ent month, when the shipments
have been made and the earnings
reckoned.
Mining operations at the prop
erty are going ahead at the Wan,
dering Boy and the Desert Queen
shafts at a good rate of progress
The report for the week is as lul-
lows:
Cash Boy
Since last weeks report vas is
sued, the west drift on the bottom
level from the winze at the Cash
Boy mine encountered a fault
which has interrupted the regular
progress in the drift. The man
agement Immediately started a
81 OSS-Cut u TX pun poSC VI OSot
ing the faulted segment of the vein
and so far has made 80 feet in the
trachyte formation. We are in
formed, Just prior to going to press
that the drift is Showing
streaks of high grade ore. an in.
dication encouraging the belief thai
the vein is being approached.
The usual stopping work was done
on the hanging wall in the wes1
drift. whence a raise was started
some weeks ago and connected will
the next intermediate level. At the
same time, the regular stopins
operations have been going on a
the EAST drift from the winze, OF
the footwall side of the vein. There
has been no elimination in size o.
the ore bodies, according to the re
port of the management, and the
regular yield of better than mill