OCR Text |
Show I POSITION OF TIE BELMONT COMPANY Earnings Last Quarter Were Well Above the Half-million Half-million Mark. I REPORT IS . RECEIVED Available Resources Amount to One and a Half Million Mil-lion Dollars. Shareholders of the Tonopah Belmont Dovelopincnt company have recoived with their checks for dividend No. 17, calling for 25 cents a share, a statement of operations for the quarter ended August Au-gust .11, 1913. This report follows In full: Receipts from Eales of ore, bullion, bul-lion, etc $940,521.10 Mining, milling and administration adminis-tration expenses -09.2S5.42 Net earnings for quarter. ....$633. 285.08 Miscellaneous income 12.29S.37 Total net Incorno for the quarter $548,684.05 The available, resources on August 31, 1913, amounted to $1,466,918.74, divided into the following Items: Duo from smellers, $439,422. 04; due from others, $Sf74ti.7S: loans on collateral, $291,150; cash In hanks, $727,599. 32. I In Its September 27 ibsuo the Tonopah Miner had the following to say In regard re-gard to property conditions: The Shaft vein Is proving to be a very remarkable body of ore. On the 1166-foot level, tho west drift Is being be-ing extended on a width of six feet of what may bo described as specimen speci-men ore. much of which 1b phenomenally phenome-nally rich. Raise 25, above the 1100-foot 1100-foot level, is being extended In a body of splendid grade ore, which lies very fiat, and will, therefore, produce a very large tonnage between this level and the level above. Remarkable Bodies. A new raise on this level has entered en-tered the vein, which shows a good body of very good ore, and tho weBt drift off crosscut No. 2 on the 1166-foot 1166-foot level lias entered a very much better grnde of ore than was exposed last week. On the twelfth level, the cast drift on this vein has now passed through the fault, and again 'oncoun-' 'oncoun-' t.ered the ore, which is slightly .broken .brok-en up near the fault, but shows spots of very good values. All of the present workings in the vein prove that It is widening, and showing some remarkable bodies of splendid ore. The Mizpah Fault vein on the 1166-foot 1166-foot level has now widened In the I drift from stope 12. and shows a full face of very much -better grade than last week, and on the thirteenth level, where this vein was opened up two weeks ago, an east drift was extended extend-ed during the week on a body of very fine grade ore, which has now faulted, fault-ed, but the west drift is still being continued In good ore of a bettor grade than last week, and a raise on the vein is also being extended In very fine ore. The Belmont vein Is showing greatly Improved values In the stopes now being opened up above the thirteenth thir-teenth level. These expose a width 1 of from twenty-five to twenty-eight feet of ore of mill grade. On the fourteenth level the east drift on tho vein is still being extended In very good ore, and cutting out for stopes on this level Is exposing a width of over twenty-five feet of mill ore, demonstrating the strength and persistence per-sistence of the ore shoots at this denjfh. and giving every reason for belief that on the new level to which the shaft 1s now being sunk, the vein will be found strong and carrying excellent values. Mill Operations. On the Favorite vein raising is in progress above the 1100-foot level on two feet of very good ore, and the Thanksgiving vein on the' twelfth level has widened out to four feet of bolter grade ore than last week. The report from the mill shows that the plant ia treating over 500 tons of ore dally. Tho semi-monthly clean-up resulted in the shipment on the 21st Inst, of seventy-five bars ofv bullion, weighing 152,598 ounces, valued val-ued at $117,500, This shipment Ih slightly less than the shipment for the same period of the previous month, due to the holiday on Labor day, and the closing of the mill for two ind one-half days In the first of the month owing to lack of water. |