The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1918-07-06

mlIl 1870 IONS, ne lOnOpdn MIL
ing 5000 tons, the Tonopah Extern
sion 1852 tons, the Jim Butler 496
tons, the West End $50 tons, the
MacNamara 410 tons, the Montana
2S6 tons, the Halifax so tons, the
Cash Boy AZ tons, making the total
production for the week 10,03S
tons, the estimated value being
$~170,646. This valuation is calcu-
lated on the gross milling value of
the ore.
On June goth the Belmont Tono-
pah Development company COM
pleted the first run of metal at its
mill and refinery for the month of
June, and produced "a bars of gold
and silver bullion having a weight
of 1O4,O61 ounces. At the same
time, concentrates to the amount of
33 tons were shipped to the
smelters.
Accounted for by the presence OF
gold in the metal contents of the
bars, the bullion is worth approx.
mately $1.20 per ounce, the re-
mainder of the contents, silver,
which is enjoying the benefits of a
stable price for that product, and
which forms the great bulk of the
weight of the bars, making the es-
timated valuation extremely con-
sentative.
The mill of the company is not
putting through somewhat less than
10000 IONS of company ore per
month, as shown by the figures
recently published by the company
as constituting the results of min
ing and mill during the respective
monthly periods.
In addition, the ores from the
Tonopah Mining company and the
Jim Butler Mining company, which
amount, in round figures, to approx
imately 5000 tons per month, are
sufficient to keep the mill very busy;
and thus the primary reason for
the Belmont company undertaking
the milling of the other companies
ores, namely, the running of it's
Tonopah plant to as near capacity
as possible, has been accomplished.
A. H. Jones, superintendent of
milling for the Belmont company,
has just returned from an inspec-
ton visit to the Belmont Shawmut
Mining company, on the Mother
Lode in Tuolomne county, Cali
fornia. Preliminary runs were
made during his stay, and within
a short time the company expects
to have the mill running on full
time.
Another change in connection
with the Shawmut property will be
that connected with the direction of
the mine, which, after July first,
will be under the charge of o. Nc
Craney, who, for the past year or
so, has been superintendent of the
White Caps Mining company at
Manhattan and consulting engineer
for the White Caps Extension Min
ing company. Mr.. McCraney
achieved a notable degree of sue
cess in opening the White Caps
mine and developing it's big ore
bodies.
TonOpah Mining Co.
The board of directors of the
Tonopah Mining Company of Ne
vada, at the regular dividend meet
irg held in Philadelphia on June
2Eth, declared the usual quarterly
dividend of 7k per cent upon the
par value of the stock.
This makes the 53rd dividend
that has been declared by the COM
pany since it's incorporation, the
total disbursement up to January
LIST, 1918, having been $14,575,OO0,
and the three dividends paid since
the first of the year, amounting to
$4,000 each, brings the total pay
ments made by the company in the
form of dividends up to $14,SO0,O 600.
This sum is exclusive of the $780,
900 returned to the stockholders
who owned preferred shares.
At the present rate of operations
and earnings, the Tonopah Mining
company should be able to continue
dividend payments on the current
basis for a long time to come. In
late months, the company has been
showing improved results from the
mining and treatment of its ores,
both mine and dump, such earn
ings for the first five months of
the year averaging close to $4,000
ror D,0nth