Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1922-04-27
ANNUAL REPORT
TONOPA All N. co.
IS DISTRIBUTED
Net Earnings From Mines of
TOnOpah Amounted to Close
0ne-Third Million.
COMPANY IS BIG FINANCIALLY
Mining Costs We're Reduced,
and Average Value OF Ore
Showed Good Increase.

The twentieth annual report o.
the Tonopah Mining company of Ne
vada, for the year ending December
81, 1921, which was recently issued
shows the company to be in a
flourishing condition, and despite the
fact that mine and mill operations
were at a standstill for four months,
the net earnings and income for the
year amounted to $339148S0.
Two dividends of $4,000 each
were paid, No. 81 being disbursed on
April 81, and the other on October
q, leaving a net surplus of $239,,
14SS9 This makes a total OF SIS
OPS 900 paid to shareholders in dlvi-
dends during the life OF the com
pany, while in addition the com,
pany retired in February, 1905, its
issued and outstanding preferred
stock, with interest, amounting to
a total of $3SO.55751.
During the year 1921 operations
were prosecuted through the Silver
Top, Mizpah and Sand Grass shafts
and a total of 43,644 tons of ore
were produced and consigned to
the company's mill at Millers. The
average content OF the ore was 0.154
ounces gold per ton, and 14.O6 ounces
silver per ton, or SIPS, as com
pared with O142 ounces god and
1921 ounces silver, or $l6.93, fOI
the preceding year Profits from
mine ore amounted to $17756790, OF
$4OS a ton
In addition to the mine ore there
was shipped 652 tons of dump ore
with an average value of $911 per
ton, with profits of $19O15O, or 1922
per ton.
During the year a total of 1907
feet of development was performed,
or 374 feet per working day, as
compared with 1879 feet per day
during the preceding year, while the
average cost was $65S as compared
with $694 the preceding year,
The receipts of the company for
the year 1921 totaled $1,756,9 so,
which included mill products, inter
est on bank balances, interest on
loans and investments, dividends,
real estate rentals, administrative
service rendered and paid by sub
sldary companies, loans, demand
loans returned, U. S. certificates OF
indebtedness and accounts collected.
There was a cash balance on hand
January /, 1921, which makes a
total Of s1,792,4S9.37. Disbursements,
consisting of labor supplies, freight,
salaries and general expenses, pow
er purchased, insurance, taxes paid,
exploration expense, loans to sub
sidiary companies, and purchases of
bonds in various companies, sundry
investments, custom ore purchased,
payments of dividends. etc, amount
ed to $1,752, ,799.SS, while there was
cash on hand of SS9,7O9.49 on De-
cember 81, 1921.
The Tonopah Mining company Of
Nevada owns 1887 shares of the
common stock and 1884 shares Of
the preferred stock of the TonO-
pah & Goldfield Railroad company,
being 5916 per cent of the outstand-
ing stock of that company, yet, de-
spite the adverse conditions caused
by inactivity in the mining indus
try, as well as the universal depres-
sion in industries in general and the
prolonged labor strike in the Tono-
pah and Divide districts, a net in
come of $33S,14S,S9 was realized.
From this sum two dividends aggre-
eating 100000 were paid, with $780,
14SS9 having been added to the sur.
plus. This surplus has been invest
ed in high grade securities.