The Sun.
London, England, 1854-03-25 00:00:00

MINING INTELLIGENCE.

( From the Mining Journal of this day. )
It has sometimes happened in a particularly dull season
like the present, when money has become " tight" asit
scarce, and the general public, guided too often by that most
uncertain of barometers—the funds—vacillate between the
hopes of peace and war, and keep their money in reserve,
that some good discovery in a mine has enlivened the hearts
of adventuress, and caused excitement in the -market for
shares ; so that, whilst other securities were flat and fa Iling,
mines were in the ascendant. This, however, c annot
be said of the last few months ; lodes have maintained
a most perfect indifference to change, excepting fcl r the
worse ; and although the love of 20 per cent. still manses a
slight demand for some of the dividend mines, there is no
disguising the fact that many of the speculative mines, even
with fair prospects, and such as would in ordinary times
have commanded good premiums, are now quite unsaleable,
unless at merely nominal prices. The fear of a panic
has been the means of creating one in this description of
stock. The dealers, finding that shares were forced for sale
in all directions a short time since, held aloof from buying;
and now they can, and are, picking up shares in good
progressive mines at absurdly low prices, and quietly waiting
the re-action which, sooner or later, al ways follows in the
wake of times like the present. War, if it comes in earnest,
extent that will greatly benefit
however it may affect Government securities,. must inevitably
raise the price of metals to an
hamivneinbgepenroepoemrtey
t;c, appears to
of totally suspending some of
aavtledbaiseeon
efohreaspomene ml:bnoturhs,
the mines which do not hold out sufficient prospects of suc-
viiiclsotruthweailde,term determination which
suc-
cess, will ease the e
a serious drawback"
materials, and machinery.
In the Bullion Market—Bar Silver, containing gold (all
toaliss;cuwlhiatciohnh,
gold above 5 gra in the lb. to be paid for), ss. 2d, per oz.
standard. Bar Silver without gold, ss, lid, per oz. standard.
Bar 775. 94d. to 775. lqd. per oz. standard. Spanish
Doubloon's Gold,ubloo's 78s. 6d. per oz. Columbian Doubloons, 775. 6d.
per oz. Fine Cake Silver, 66id, per oz.
The Gold Mining Share Market this week, in sympathy
with the general heaviness of the Stock Exchange, has shown
a decided downward tendency. Even the stocks most in
favour have suffered, and for many descriptions quotations
are merely nominal. On the whole, in the total absence of
demand, this market continues to wear a very unfavourable
appearance. The accounts from the Australian gold dig-
gings are important, inasmuch that they corroborate
previous reports, that at the present there is no defi-
ciency in the yield of gold. A falling off has been ob-
served in several places, but this has been amply commensurated
by the increased yield at other localities. The price of gold dust
in California was 17 dols. 45c. Coal and hardware were in
demand, lint other articles in general were at a discount.
The American companies working gold mines in California
appear to be progressing favourably, and making returns ;
the English associations,
it would appear, are making experi-
ments, constantly sending the returns of assays, but never
showing any actual results ; and it is a question to be con-
sidered by the shareholders, whether the whole capital
of the several associations will not be absorbed by these tri-
vialities ? After two years' supposed working the public have 3
right to expect more than mere assays, which may have been
made from " slogging stones," and the local superintendents
of these companies should endeavour to set themselves right
with their proprietary.
In miscellaneous shares the market has been heavy, and
land shares have experienced a considerable fall.