The Sun.
London, England, 1851-12-13 00:00:00

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 prospzet 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 he should make every possible inquiry
relative to the 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 of the
Company, sufficient lands 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 quartz to
be supplied by those who are possessed 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
already e openecrud
hed by
them. By means of machinery, he has
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 offers many important advantages in
the way of water, fuel, means of transit, &c., &c. He h as, there-
fore, entered into a formal agreement with that Company, which, i
with an
a few words, amounts to this: he is to be supplied by them
much quartz as his machinery shall be found capable of crushing;
the quartz is to be deposited at the mills free of expense;
ha is to crush and amalgamate it at his own expense, and
he g,.ld produced is to be divided equally between the owners
of the vein and our Company. Formal and legal agreements
for carrying out the above arran4ement 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 lacedxpecte ed d
under
the control of Sir Henry Huntley;unlesse
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 thetentio merits
of other Companies, the Directors ate 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
the British public; we found our calculations open experiments
tried, during several weeks, on quartz raised from the mine, and
crushed and amalgamated b y our own Superintendent, and with
pose our
own machinery and apparatus. Other Companies pro
incur the expense and risk of carrying out mining operations
soon their vein, before the quartz arrives at their mill, and, should
their labours prove successful, they must then pay out of their
profits 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 percentage or
royalty. The half of tie 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
at the outlay of capiAll ttal ex-
pended in raising the quartz, and lodging it the mill. he
new companies, unlike this, must be a considerable time before
their arrangements and machinery can be ready for carrying out
their schemes—this Company alone is actually at work.
no; P..-1111 capital of the Company will not exceed 20,000/. In
almost certain estimates of the produce of our machinery can be
formed, and, from the calculations mane, Lisa 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 aro now working yields upon an average 4d. per pound, or 1/.
17s. 4d. per cwt., or 371. Gs. Bd. per ton ' • and, as we can crush and
amalgamate at least 20 tons per diem, that wovld amount to 7461.
13s. 4d., or 373/. Os. 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 be such as to render the current outlay most trifling.
In case circumstances should induce the Directors to alter the
system now adopted, and lead them to undertake mining operations
of their own, arrangements have teen made securing four distinct
sit es, most carefully selected for their eligibility for mining pur-
poses, and Sir Henry Huntley has on the spot Cornish miners who
went out with him, and who have voluntarily retendered him their
services.
The gentlemen who formed the Provisional Committee of this
Company, have added to their number several gentlemen possessing
the acquaintance and entire confidence of a very large body of
Shareholders in the provincial districts. To add such men to the
Dire
was due to those Shareholders who have
Measures iwill be taken
n fact estab-
lished and nobly supported this Company.
for further augmeoting the Directory, and a Special General Meet-
ing of the 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 Com the sanyole shal be
of for con-
-
ducted with the most rigid economy, and withview
warding the 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, tit
not be affected by the question now agitated between the holders of
leases and Colonel Fremont or his agents. The district selected for
out of the many points
the operations of this Company is far removed from the tract claimed
by Colonel Fremont. The difficulty arising
now raised relative to the tenure of land under leases, h d
a be
een long
known to and was maturely considered by those having t control
of the affairs of this Company, and was one of the reasons which in-
duced them to parsue 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.

LAURENT'S CASINO.
ARGYLL ROOMS, Great Windmill-street,
St. James's, is OPEN every Evening for the Winter Season.
Laurent's well-known and celebratld Band, principal Cornet-a-
Piston, M. Boulcourt.
During the recess the Rooms hive been re-decorated, and many
improvements made, under the sole direction of Mr. U F. Ilryer.
Doors opon at Half-past Eight, to commence at Nine o'clock.
Admission—ONE SHILLING.