The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1920-04-09
AROUND THE MINES


OF the United States senate.
Another well will be drilled In the
Texas oklahoma field by the Red River
OH and Development company, CON.
posed largely of Rockland. Idaho.
people.
The regular quarterly dividend Of .
cents per share has been declared BIZ
the Yellow Pine Mining company.
Goodsprings, New. The DIVIDEND
amounts to $4,000.
Efforts are being made to develop
ore bodies ahead Mt the Bingham Mines
company properties, according to the
annual report of the company, which
has just been issued.
Elko, Nevada, will soon have a third
ell shale extracting plant In opera
ton IL the rumors that are current
are correct, and every indication
points In that direction.
Operations at the Montana Bingham
mine at Bingham have been mainly
confined for the past several weeks to
development Of the ore bodies encount.
cred. No. raise is being put up ON
nice body Of lead ore.
Net income Of the American Smelt-
ing 4 Refining compang and It's sub
sidiary, the American Shelters Securi-
ties company, for 1919 amounted to
$685., 5S5, a decrease OF $2,1l1,914, &C.
cordiag to the annual report issued.
From all Indications the year 1920
will go down in history as being one
OF the most profitable years in the
history Of the silver industry. There
Is but little doubt but what the long
awaited silver boom has already start
ed
The Wellington Mining COM
pany's annual report shows that re-
ceipts during the year from the sale
of ores were $4558.59. from notes pay
able, $4,000, which, with revenues
from other sources. made total OF
$44, 49S.54
Extremely favorable conditions pre-
vail in the Union Chief mine in the
Santaquin district. At the present time
the miners are following streak Of
ore which is In 6O-foot thick soluble
lime bedding, according to reports from
the mine.
Considerable progress was made dur
ing the year 1919 by the Tintic Milling
company. The company has now
reached, according to Its annual re-
port just issued, the position where 1t
Is able to finance business without
borrowing.
Representatives Of big copper COM
panies who had been discussing ex-
tension of credit to foreign consumers
say, according to the Boston News Bu-
rear, the plan Is in the early stages anu,
In all probability, will take some time
to work out
Receipts of the Iron Blossom Con-
solidated Mining company from ore
sales and other miscellaneous sources
for the year 1919 were $439, SSS.71.
which, with balance of 1885, 1875
from the previous year, made total
Of 1925, O5S.4 6.
A bill has been introduced in the
house OF representatives by Congress-
man G. r.. Evans of Nevada which
provides for the exemption of all gold
and silver producing mines from the
operation Of the income and excess
profits tax law.
Expansion Of activities of Elk Basin
Consolidated Petroleum company in
Wyoming Is indicated in announcement
of acquisition Of 800 acres in Salt
Creek field, all of which is proven.
and of one-half interest in 800 acres
in three tracts in Ferris field.
The Olympic Mines company, the
of which are located in the
gold belt lying north and west of the
Simon Silver-Lead mine in the Simon
district of Mineral county, Nevada, is
to rebuild its mill, which was totally
destroyed by fire last year.
Reports from Moab, Utah, say that
drllers for the Western Allies Oil COM
pany on the Maxwell lease have
reached depth Of 2275 feet, 1900 of
'AANAA vas thtOuSu a SOIIu DeQ Oh SALT.
and are now going through lime
shale. constant showing of oil and
gas has been encountered In the 1876
feet OF shale in which the drill has
penetrated
Conditions at the Silver Trail mine.
three miles south OF Basin.
Mont, are satisfactory. Work at the
mine has progressed steadily all win
ter. Last fall good camp was built
and work started on crosscut tunnel
to cut the entire vein system. This
tunnel was started low enough to give
very good depth on all five veins ex-
posed on the property, it is said.
A deal which promises to bring the
'ld-time camp of Hamilton back into
ne limelight as an extensive producer
If silver bullion was consummated In
ronopah last week, whereby fourteen
claims covering the famous Treasure
Hill, which produced many millions Of
dollars before the demonstration OF