The Sun.
London, England, 1870-05-12 00:00:00

SAN FRANCISCO.

A panic is reported in mining stocks in San Francisco.
Gould and Curry sold at $l4O, Kentuck at $64, Choliar $24,
Hale and Norcross $124, Overman $63, and Amador ate
$lBO, and this simultaneously with news of the wonderful
wealth in the fresh gold mines discovered in New Mexico,
whereof the ledges are from 50 to 800 feet in width, and
contain very rich quartz. The location of the mines is near
the Sullit Lieduroff Mountain, in the Virginia District, 15
miles west of Burr's Mountain. Tueizion is said to be nearly
deserted. Colonel Dunne, commanding at Fort Bowie, has
established a post at the mines for the protection of the
miners, and large parties are leaving San Diegos and Los
Angelos for the new fields. A writer in the San Francisco
Scientific Press gives a startling account of the mismanage-
ment of some of the mines. He asserts that the successful
jobbing of shares requires the mismanagement of the mine,
and sketches the modus operandi thus :—" If it is necessary
to bull the shares, at the behest of a ring, the mine is worked
for the time being with the object of a large, continued, or
increased yield of bullion. Every available ton of ore
is extracted in the shortest possible time, and worked in
a hurried, slovenly, and wasteful manner. All 'dead
work,' essential to future economical or successful work-
ing, is abandoned, and, in mining parlance, the eyes of the
mine' are picked out.' The highest attainable price being
reached, those on the inside sell, while the non-speculative
shareholders on the outside find themselves the proprietors
of a mine that requires as great an outlay of capital, per-
haps, to restore it to a condition for further working as it
did to open and develope it in the first instance. if it is
necessary to bear the shares, then a large amount of
needless 'dead work is done ' • shafts are sunk and levels
are run ; large bodies of rich ore may be exposed ; still
assessments crowd thickly upon one another, until at last
the wearied shareholder, so unfortunate as to be outside
the ring, either sells for a trifle himself, or is sold out
under the hammer for arrears in unnecessary assessments.
This latter process is identical with what is popularly
known as 'freezing out,' and has a very frigid effect on
shareholders of limited means." The lame ducks, then,
declare mining to be a failure, though Nevada, with
75,000 inhabitants, yielded last year $18,000,000 in bullion,
and he considers that in the fact of unscrupulous
stock jobbing, and the high rates of interest maintained
by a moneyed monopoly, the success of mining is a matter
of surprise, while he calculates that the bullion product
' of Nevada would be quadrupled if relieved from the
incubus.

COMIC PAPERS.
(From Punch.)

" CEincs."—The rival Premiers (who have not exactly
" failed in literature and art ')—reading " Lothair" and
" Juventus Mundi "—see Mr. D.'s new work.—Mr.
G-d-s-t-ne : "Hm !—flippant ! " Mr. D-s-r-li : "Ha !
prosy !"
THE GREATER GUY FAWKES DAY.—" All the world,'
writes the Times correspondent at Rome, " has heard
of Roman fireworks." It has. Happily, however, in
the present age those fireworks are such as we should
be only too proud to emulate, if we could, on our Fifth
of November.

AN INDIGNANT ANSWER. —What is Cardinal Antonelli
supposed to have said to Count Daru, when Daru pro-
posed so interfere with the Roman Council ? " How
dare you ! " of course.

FRENCH JUSTICE TO IRELAND.—Comparisons are not
always odious. We can take no offence at the compari-
son implied in the query which concludes the subjoined
observation made by the Journal des Debats, respecting
Greece :—" We see with regret that the tone of the
English press has become much more vindictive. An
entire nation cannot and should not be condemned for a
single crime. Some of the London papers speak of
nothing less than of putting Greece in a state of siege,
and of making a descent there with Zouaves. What
would they say if we proposed to send some to Ireland r:
Certainly Greece and Ireland are very mnch like one
another, especially Ireland. What should we say if our
French friends proposed to send some Zouaves to that isle
of mutiny s That they were very kind indeed, and we
thanked them heartily, but would save them the trouble.

(From Fun.)

TAKING A MEASURE.—If sixteen drams make one
ounce, how many will destroy all scruples ?
THE FOULEST STAIN ON A SHEFFIELD BLADE. —A stab
in the dark.

BLACK GAME. —Now is your time—noble sportsmen 1
in London, rookeries innumerable caw loudly for thinning.
MISSING GRINDERS.—We learn from American papers
that " Richmond reports a great dearth of organ-grinders
since the civil war." We trust the paragraph will be
circulated among the London organ-grinders, and that
they will take the hint. We always thought civil war an
unmixed evil, but the South must have found it a blessing
in disguise. If it had the same effect in England as at
Richmond, it would almost reconcile us to putting up
with a Fenian disturbance for a few days.