Show seven troughs coall coalition ti on company contributed the close of 1916 brings the seven troughs coalition 11 mining dining company oneff one of the substantial gold producers of northern nevada again close to the spotlight of renown as a dividend earning proposition early in the year the huge development operations projected by president and tand general manager L A friedman were interrupted unexpectedly when the miners broke into a subterranean lake this flooded the lower regions seriously and caused much loss of time new and stronger pumps were needed to raise the released flood and these were hurriedly brought from san francisco when then the workings were dried coalition began to be itself again and sinking was resumed on the new from the 1700 to the 1800 level this work is expected to have been completed as the year 1916 closes it makes possible the exploiting of the rich gold ore bodies feet deeper than they were found so plenteously on the 1700 level and in various other parts of this mine nearer the surface will drift on 1800 level the managements plans are to drift on the 1800 level south and north and catch the ore on its rake at this depth president friedman and his engineers know the ground so thoroughly through their extended experience on this estate that they have implicit confidence that their new work will bring magnificent reward during the year 1917 notwithstanding the heavy expense of development operations and contending with misfortunes the mine suffered in 1916 it is said the company sustained these from mine revenues and closes the annual period free from debt and with between 50 and in the treasury and that dividends will be resumed very soon production and dividends during 1915 coalition produced from tons of ore or about 93 a ton average from all parts of the mine within the same period the company paid in dividends and during twelve months of 1915 and december of 1914 this sterling property gave to stockholders the grand total of in six dividends of cents per share each or at the rate of nearly 33 13 1 3 per cent on the then market value of the stock bonanza potentialities coalitions bonanza potentialities are among its conspicuous characteristics and constitute wondrously alluring attributes of the shares its luxurious depositions of the yellow metal are known to prevail bounteously in areas of favorable to their making the first streak of high grade found on the 1500 foot level yielded at the rate or to a ton across the entire width the south between the 1100 and 1500 levels kept the bullion production up to more than 1000 a day during a period of eighteen months A return to these conditions in 1917 is regarded as a foregone conclusion by the management as a consequence of the present development program officers and capitalization the officers include in addition to president L H friedman of lovelock nevada who gives this his personal direction the following william adams of chicago first vice president M R of chicago second vice president J T goodin of lovelock third vice president H R murrish of lovelock secretary the capitalization is shares par value 1 location of the mine is in seven troughs camp I humboldt county nevada |