The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1918-07-06
PAID
BY jim BUTLER
DISTRIBUTION Is MADE IN FACE
OF ADVERSE DE
CISION

Jim Butler Tonopah Mining COM
pany, at the meeting held in Phila-
delphia on that day, had declared a
dividend of tx cents per share on
the issued capital stock, which
amounts to 1,71S,021 shares. The
disbursement will. mean the pay
ment of 1928, S51.75. No informa-
ton has as yet been received as to
when the dividend is to be paid, o
when the books close for transfer.
In commenting upon the recent
decision of the United States SUI
preme court, confirming the deci-
sions of the lower courts, an east
ern paper says:
There is no reason why Jim But
Ter should have declined because
it lost its apex suit with the West
End Consolidated. The company
does not lose anything it had. 1t
may be ordered to pay a few thou
sand dollars to cover cost of ac-
ton, but outside of that Jim But
Ter will go on very much Is it has
gone ON in the past.
Recent results show that condi-
tions at the property have material
ly improved and earnings are on
an increasing scale. Dividends of
30c a share per annum are being
paid, and the favorable develop
ments in the bottom of the mine in
dictate the likelihood of their con-
tinuing for an indefinite period.
When viewed in this light, Jim But
Ter around present quotation is a
distinct purchase.
Although Jim Butler would have
been materially benefited had it
won the decision in the apex suit,
the vein involved in the dispute is
not essential to the life of the mine.
AS a matter of fact, but little work
was done on it by the Jim Butler
management. Following the trial in
Nye county, Nevada, an agreement
was entered into whereby the West
End was permitted to mine the
vein on condition that after mining
and milling costs were deducted re-
turns should be placed in the hands
OF trustees pending settlement. Such
returns o. aggregate $36O,0OO.
Had Jim Butler won, it would
have been entitled to this money,
as we'll as any damages the court
might have seen fit to fix for ore
extracted from the vein by West
End within the vertical boundary
line of Jim Butler territory.
This, of course, would have ma
terially improved the treasury of
the company. Cash and net quick
assets, however, are estimated at
around $7OO, 900, which in itself
is substantial evidence that the
company is in excellent financial
condition.
liz hlllllhS "OAh ~ eHC -" D0t
Ter was maintained at about the
same general rate of advance as
recorded in previous weeks, the re-
port of the past week being as
follows:
In the Desert Queen mine, on the
4OO-foot level, 4O2 west drift, go
ing out from sol raise, is following
the South vein, and its present face
shows a / foot width of low grade
ore. The east drift from raise 421,
on the same vein, though at an
other block of ground, is making
good Roadway on a 4-foot face of
ore of good grade.
On the 6O0-foot level, the cross
cutting work which has been under
way for a few weeks past, by means
of southwest cross-cut 8 from B
stope, was continued in the foot
wall to cut the vein on the west
! side of the stope, and good progress
is being made.
In the Wandering Boy ground,
or the End level, the intermediate
west drift from No. 3 stope, on the
Wandering Boy vein, has been stop
ped temporarily. Where operations
we're discontinued, it shows about
IL feet of low grade ore.
On the 4th level, raise 459 from
453 east drift, on the same vein,
went ahead without interruption
ard holed through inc the End
level. West drift 462, off 400
north cross-cut, is following a foot
wall branch of the Wandering Boy
vein, which is 6 inches in width
and of fair grade.
On the 9th level, sos east drift
going out from 500 south cross-cut,