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Show SILL EARNING OFJPCE Reasons Given Why Company Is Not Netting Profits, as at First. DO NOT PICK OUT HIGH-GRADE ROCK Everything Possible to Mill Is Being Mined and Taken Care Of. Special to The Tribune. GOLDFJELD, Nov.. Aug. 21. While Flroonco Goldfield figures of output and reports to the assessor have been calculated cal-culated to lead to the fear that the mine Is not living up to Its early promise, to thoso familiar with tho manner in which operations aro being conducted and with the policy of the management there is apparently little ground for a pessimistic view of the property's future. It must be admitted that the company's profits have not made a very favorable showing of late and operating expenses have been high. The figures however, appear extreme ex-treme In both directions by contrast with thoso during the time when tho high-grade high-grade oro was being mined to the exclusion exclu-sion of everything else and the public heard of nothing but "picture" rock. Under the present capable management of Willis Lawrence the only method of mining insuring lasting results la being carried on, that of extracting every pound of ore from which a profit can be recovered. re-covered. Owing to the manner In which leases had gutted the upper levels of tho mine the new manager had some formidable formid-able obstacles to overcomo, and It Is not surprising that, while following out the policy mentioned of securing all ore of paying quality, tho average valuo of the product should havo been low and the attendant cost of operating far above the normal. Tom G. Lockhart. locator of the Florence Flor-ence and until recently the president of the company, said last week while here from his oil wells In California, "wo have tho biggest little manager over at the Florence that there Is in the country and you can bet all your money that the Florence In his hands Is safe to earn big dividends for a long time." Which indicates indi-cates that those persons were wrong who havo declared Tom Lockhnrt thought he knew it all and would take advice from no ono else. It may be mentioned in passing that the atmospheric displacement displace-ment of the "little" manager Is about 160 per cent that of his diminutive but wlrey chief. Official reports of the Florence company com-pany show that the product of the mine which has been treated In the mill of late has averaged slightly under $12 per ton and expenses havo boon rather high, although these expenses have been chiefly chief-ly for extensive new development, and the mill Is making a highly satisfactory saving of gold. Old workings wore left in bad shape by the lessees and the cost of protecting this ground from caving and oi extracting tho ore of milling grade has been heavy. At only a few points was any work done below the 350-foot levol and nearly all tho ore milled has come from above this depth. The management man-agement is now proparing- to open the mine at depth and these preparations have entailed a largo expense. While the necessity for hoisting oro through the main shaft has retarded completion com-pletion of the work of enlarging It to two compartments and manwav, this work Is now making good progress and within the next three or four weeks sinking sink-ing will bo resumed with 1000 feet as the objective depth, and stations will be cut at Intervals of fifty feet from which to carry on development. Large skip pockets, pock-ets, -with ore waste bins of 100 tons capacity ca-pacity havo been prepared at tho 250. 350 and 500 levels, and with the large automatic skips In operation a large tonnage ton-nage of oro and waste material can be handled and sinking can be cnrrled on to good advantage -without interfering with lateral development and oro production. produc-tion. A large part of tho tonnage sent to the mill has been coming from tho territory formerly embraced In the Little-Florence and Rogers Syndicate leases, south of the main workings. In tho latter block one of tho best ore shoots exposed in Florence Flor-ence ground was developed' by the lessees, les-sees, by means of a winze, to a point sixty-five feet below the 500-foot level, and this ore Is still untouched, awaiting the time when deeper laterals shall reach this part of the mine. In portions of tho Florence territory It will ho possible to employ the processes In mining planned by the Consolidated for the Combination Combina-tion vein, to open a continuous glory hole from tho deeper levels to the surface and practically quarry out tho ore at llttlo cost. On the northern part of tho property, near the old bonanza Rellly lease, this system may be followed. On the 350-foot level a drift has boon driven from the main shaft to a point under the old Rellly workings and here the vein, carrying good mill ore. together with seams of high-grade, high-grade, is ten feet wide and becomes wider wid-er as it nears the surface. Tho entire mass of this vein, which is now being stoped. has been breaking around $30 per ton. Tho stopo has already developed the ore for a distance of over 100 feet. With a formation indentical In character, there is nothing to Indicate that tho Florence will not open oro bodies at great depth equal In value to thoso developed down to 1000 feet on tho Consolidated. Tho Florence mill continues to treat about 1-10 tons dally, of which 100 tons are taken from the southern part of the territory, hoisted through the Llttlc-Florencc Llttlc-Florencc shaft and convoyed to the stamp bins by means of the aerial tramway built last year for this purpose. When sinking the main shaft is resumed from a depth of 530 feet, It is planned to Install In-stall an auxiliary hoist at the 500-foot level and to use the oro bins at the 500 station to hold the material broken during dur-ing the day and to hoist it to the surface on tho night shift. The following figures arc contained in the official statement of the Florence Goldfield Mining company to tho assessor of the Esmeralda county for the purpose, as provided by law, of levying tho quar-terlv quar-terlv bullion tax. Tho figures cover the company's operations for the quarter ending Juno 30. Number of tons worked, 13,252; gross yield or vahm. $157.032:Si: actual cost of extraction. S7G. 101.12: cost of smelting, transportation and sampling, $14.3S4.S0; cost of reduction, S40.00S.50: net yield or value. 526.-14S.42: amount of bullion tax. $780.23. |