The Sun.
London, England, 1852-01-13 00:00:00

TRUSTEES.
Charles Herbert Cottrell, Esq., Hadley, Herts.
George Etninolt Green, Esq., Emmett Hall, Lancashire.
James Harmer, Esq., Ingress l'ark, Greenhithe, Kent.
CHAIRMAN.
GEORGE EDWARD COTTRELL, Esq , James-street, Buck.
Ingham-gate; and New-square, Lincoln's 11111.
VICE-CHAIRMAN.
FRANCIS; DENNIS MISSY DAWSON, Esq., Victoria,
sq:tare; and Flowden-buildings, Temple.
DIRECTORS.
John Barker, M.D., Richmond, Surrey.
Symeon Taylor Bartlett, LL.D. Cambridge.
Jonathan Fattier, Esq., Penrith.
Charles Hincles, Esq., Birmingham.
Joseph George Parker, Esq., Warminster.
Sir G. S. Itumbold, Bart., Argyll-street, Regent-streets
RESIDENT DIRECTOR IN CALIFORNIA.
Captain Sir Henry Vero Hutitley, R.N.
BANKERS.
London and County Bank, Lombard-street.
SOLICITORS.
Messrs. Coombe and Nickell, Bridge-street, Westminster.
SUPERINTENDENTS IN CALIFORNIA.
James MR,COllOthiC, Esq. William Godfrey Iluet, Esq.
SECRETARY (ad interim).
Mr. George Frederick Goodman.
This Company being now completely registered, the Directors
take the earliest opportunity of laying before the Shareholders a
statement of its progress and prospects.
It may be confidently asserted that no Company was ever brought
before the public with equal prospect of speedy and successful
results.
The prompt assistance afforded by the Shareholders to the Direc-
tors, and the perfect confidence in the management displayed by
them, have enabled the Directors to take such steps as must ensure
an enormous dividend within a few months.
Sir Henry Huntley, the resident Director in California, has been
in that country five months, and the course adopted by the Directors
for carrying out this enterprise results from the experience obtained
by him during that period. The instructions given to Sir Henry
Hunt ey were, in effect, that ho should snake every possible inquiry
relative to time state of the country, the tenure of land, the com-
parative merits of the different quartz veins in the several districts
of California, and after mature deliberation to advise the Directors
as to their best course of proceeding, and to take such measures as
would enable them to carry out his views as speedily as possible.
Following these instructions, he has secured for the benefit :ofstisee
Company, sufficient leads for:all:mining purposes ; but he is clearly
of opinion, that for the present, at least, it Is not desirable to under-
take mining operations, but to crush and amalgamate quarts to
be supplied by those who are possessel of mines, and have raised
the quartz. With the assistance of some gentlemen of great
experience in geology and mining matters, he has inspected and
tested a great variety of veins in the Mariposa, Nevada, Grass
Valley, and other districts, and has come to the conclusion,
upon sound reasons, that the vicinity of Grass Valley and
Nevada City, is that which affords the greatest advantages for car-
rying on our enterprise. He has, therefore, entered into an agree-
ment with some American gentlemen, who have formed a company,
and have opened, and, to a considerable extent, worked a vein of
quartz, distant about three miles from Grass,Valley and Nevada
City, and about thirty miles from Sacramento City, to crush and
amalgamate the quartz to be raised from the mine opened by
them. By means of machinery, he has already crushed
and amalgamated considerable quantities of the quartz sup.
plied him from this mine; and the result of his operations
has been to satisfy himself that the vein is of a full average
richness, and that the locality ofiers many important advantages in
the way of water, fuel, means of transit, &c., &c. He has, there-
fore, entered into a formal agreement with that Company, which, in
a few words, amounts to this : he is to be supplied by them with as
much quartz as his machinery shall be found capable of crushing;
the quartz is to be deposited at the mills free of expense ;
he is to crush and amalgamate it at his own expense, and
he geld produced is to be divided equally between the owners
of the vein and our Company. Formal and legal agreements
for carrying out the above arransement fairly and honestly, and
without any copartnership, have been entered into. Steam-engines
and machinery estimated to crush about thirty tons of quartz a day,
with funds sufficient for putting it in motion, have been placed under
the control of Sir Henry Huntley; and, unless some unexpected
delay has arisen, the machinery is now actually at work, and a
return will be made about Christmas next.
For the satisfaction of the existing shareholders of this Company,
and without wishing, in any manner, to deteriorate from the merits
of other Companies, the Directors are desirous of calling attention
to some of the more prominent advantages possessed by this Com-
pany over others now in the field. Shareholders in other Companies
must mainly rely upon reports sent over by persons interested in
selling the mine; we rely upon the reports of our own resident
Director and his practical assistants on the spot, whose only
interest is to give us facts. The Directors of other
Companies generally base the estimate of the value of
their mine upon calculations founded on experiments
upon a few pieces of specimen quartz, sent over to this country for
the express purpose of advertising the commodity offered for sale to
tke British public ; we found our calculations upon experiments
tried, during several weeks, on quartz raised from the mine, and
crushed and amalgamated by our own Superintendent, and with our
own machinery and apparatus. Other Companies propose to
incur the expense and risk of carrying out mining operations
gPen their vein, before the quartz arrives at their mill, and, should
their labours prove successful, they must then pay out of their
"'fits large per-centages for obtaining their leases, and large royal
ties to their lessors ; whereas we have secured as much quartz as
our machinery is capable of crushing, the title to which is as secure
as that of any other company, unfettered by any per-centage or
royalty. The half of the produce to be paid by this Company to the
parties who supply us, free of expense, with the quartz, being in fact
merely equivalent to the dividend upon the outlay of capital ex-
pended in raising the quartz, and lodging it at the mill. All the
new companies, unlike this, must be a considerable time before
their arrangements and machinery can be ready for carrying out
their schemes—tills Company alone is actually at work.
The paid-up capital of the Company
will not exceed 20,0001. An
almost certain estimate of the produce of our machinery can be
formed, and, from the calculations made, the Directors confidently
anticipate being able even at the most moderate estimate, to afford
a dividend of 200 per cent., at the least, within the next twelve
months. According to the data furnished to us, the quartz which
we arc now working yields ripen an average 4d. per pound, or it.
17s. 4d. per cwt., or 371. Os. Bd. per ton ; and, as we can crush and
amalgamate at least 20 tons per diem, that would amount to 7461.
13s. 4d., or 3731. s. Bd. per diem as the share of this Company
By the peculiar arrangements this Company has made, based
upon practical experience, the economy in working expenses must
necessarily he such as to render time current outlay most trifling.
In case circumstances simnel mistimes the Directors to alter the
system now adopted, and lead them to undertake mining operations
of their own, arrangements have been made securing four distinct
sites, most carefully selected for their eligibility for mining pur-
poses, and Sir Henry Huntley has on the spot Cornish miners who
went out with hint, anti who have voluntarily retendered him their
services.
'lime gentlemen who formed the Provisional Committee of this
Company, have added to their number several gentlemen posnessiug
the acquaintance and entire eentidenee of a very large body of
Shareholders in the provincial districts. To add such men to the
Dire story was due to those Shareholders who leave in fact estab-
lished and nobly supported this Company. Measures will be taken
for further augmenting the Directory, and a Special General Meet-
ing of time Shareholders will be convened for the middle of January.'
In conclusion, the Directors beg to offer their best thanks to the
Shareholders for the uniform support they have received, and they
pledge themselves that the affairs of this Company shall be cone
ducted with the most rigid economy, and with the sole view of for-
warding time interest of the Shareholders.
The Directors beg to call the attention of Shareholders particularly
to the fact that, from the system adopted by this Company, it can-
not be affected by the question now agitated between the holders of
leases and Colonel Fremont or his agents. The district selected for
the operations of this Company is far removed from the tract claimed
by Colonel Fremont. The difficulty arising out of the many points
now raised relative to the tenure of land under leases, had been long
known to and was maturely considered by those having the control
of the affairs of this Company, and was one of the reasons which in-
duced them to pursue for the present the course they have, and not
to incur certain heavy expenses with doubtful results.
The Directors trust that Shareholders will approve of the prudence
of the course they have adopted.
Prospectuses may be had upon application at the offices of the
Company.

BLAIR'S GOUT and RHEUMATIC PILLS
The following testimonial is another proof of the great effi-
cacy of this medicine :
" 157, Now Bond-street, London, October 12, 1850.
" Sir,—ln acquainting yon with the great benefit which I have ex-
perienced by taking BLAIR'S GOUT and RHEUMATIC rims,
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" About twenty years since I was first attacked by rheumatic gout
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and my sufferings can be appreciated only by those who know some-
thing of this disease.

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" I am, Sir, yours respectfully,
" GARRET FOSTER GILL.

" To Mr. Prout, 229, Strand."
For every description of Gout and Rheumatism, Sciatica, Tic-dole-
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Sold by Thomas Front, 229, Strand, London; and all respectable
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Ask for BLAIR'S GOUT and RHEUMATIC PILLS, and observe
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Government Stamp.