The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-01-13

tht bOAOl net earnings DIS IeDOItbu
by the local office have amounted
to S1,151,4S2.
The average for the IL months
was S105,13S. As an illustration
of the manner in which the Bel
Ucut mine has improved during the
past year, due to the ~uncovering
and development of further reser-
YES of ore as we'll as to the en-
hancement in the price of silver. a
comparison of these figures with
those for the same period in the
year 1915 is interesting.
During hat time. that is. up to
the end Of November, 1915, the
Belmont company reported net earn
ings amounting to S~S97,936, an
average monthly profit of SS1,633.
December earnings in 1915 amount
ed to SS0,135, and lessened the
average for the entire year to $8t.-
sos.
Development work during the
past year, as will be noted in perus-
ing the successive reports issued by
the management, have been success
full to a great degree in proving
up the orebodies which were already
well developed on levels above. and
during the same time two discover
les, both of them of the most inn
portant character, were made.
The first is what is now known
as the Rescue vein, and il has been
proved up for a considerable dis
lance on two levels, excellent widths
Of ore ranging from milling to ver.-
good grade having been demonstrat-
ed with the extension of the devel-
opment work.
The other find was totally uneX-
pected, the discovery having been
made on the 1400-foot level. The
vein where first cut measured 4 u
feet in width and developed an ave
age width as far as it was opened
up of about 3 feet. The distinctive
feature concerning the last-mentiOn-
ed discovery was thai it carried O
higher proportion of gold than the
usual run of Tonopah ores. Since
having been proved up on the 400
foot level, work has been performed
on the level below in the expecta-
ton of catching the downward con-
tinuation of the vein. but success
has not yet been attained in these
efforts.
Rescue-Eula Mine
The past year saw the CONVEX
sion of the R~escue-F;rIa Mining
company from a prospect with at
tractive possibilities into an actual
producing and se~lf-susta.a,ng mine.
The records show that since the
week of March 4th, 1916, when au-
nouncement vas made of the dis
covery, the Rescue plcduc-1 and
shipped 1856 IONS of ore. The
grade of this ore has been we'll
above the average Tonopah mill
heads, and has Deer consistently
maintained. hence the Rescue-Eula
company VIII be able to extend de-
velopment work in 4 most extern
sive manner.
Charles D. Laing, president of the
company, made a visit to Tonopah
during the early part OF tie presen.
week, for the purpose o: g aiming
the recent developments. In COM
pany with Superintendent Harry
Moore, Mr. Laing thoroughly iu-
spected the workings on the $50
and on the 1100-foO: lcvels, and
before leaving Tonopah for SAn
Francisco expressed himself to the
representative of The Miner as Ee-
ing very we'll pleased with the re-
suits accomplished by nc present
management.
The past years developments in
the Rescue and in the Halifax To-
nopah have been largely instru-
mental in the taking over of outIy-
ing property in the eastern end of
the Tonopah district by big opera
tors, and these prospects are now
being subjected to exploration by
means of diamond and churn drills.
Yesterday the Mizpah Extension
company of Tonopah held a special
meeting of the stockholders at it's
office in Philadelphia for the pur-
pose of voting on the proposition
submitted by the Tonopah Mining
company for an extension of the OPP
ton agreement under modified on
ditions.
The board of directors of the jim
Butler company at a meeting held
in Philadelphia last Friday. declar-
ed the usual semi-annual dividend
Of 10 cents per share. This makes
the fourth dividend that has been
declared by the company, the first
having been declared in the sum
mer of 1915, the second at the close
of hat year. the third in August.
1916, and this, the fourth, having
just been announced.
The West End Consolidated Min
ing ACCOMPLISHED it's clean