The Sun.
London, England, 1868-07-11 00:00:00

MINING IN7 ELLIG ENCE.

The Grass Valley Consolidated Mining Company
is about to be offered to the English public. The
property is situated in Nevada county, California.
It was formerly known as the claims of Doran,
Murphy, and Co., and Bulger and Co., and is now
named after the district in which it is situated, one
well known in California for the richness of its
gold-bearing quartz, having within the last 14
years yielded the sum of £4,600,000. The lode ex-
tends about 2,300 feet in length, averaging two in
width, and probably, judging from the work-
ing of the adjoining mines, of more than 900
feet in depth. The vein has been worked
to a depth of 186 feet, several shafts and
tunnels, and two inclines having been sunk.
Iron tramways are in operation, supplied with iron
cars and hoisting and pumping works with all the
gear necessary for keeping the mine dry, and bring-
ing ores to the surface. The works, are enclosed in
substantial buildings, with an engine of 30-horse
power. A 12-stamp mill is in course of erection,
all the machinery being complete, except boilers
and engines, which have alone to be supplied to
bring the mine into a dividend-paying property.
Several hundred tons of ore have been crushed, and
have proved almost similar to that of the adjoin-
ing Eureka vein, the belief being that it is in
fact the same which has proved one of the most
successful of the Californian mines, having yielded
in 19 months £177,000. The property is to be
surrendered to the company for the sum of £65,000
cash, 3,500 fully paid-up shares, and £lO,OOO for
the plant. The balance of £15,000, as the mine
is almost in working order, is considered ample for
the working capital. The novelty of the scheme
consists in a guarantee to the shareholders of 5 per
cent, for 33 years secured on Consols, India Five
per Cents., Russian, French, United States 10-40's,
&c., selected to yield an aggregate interest equal to
5 per cent. on the £90,000 placed in the hands of
trustees. Share warrants to bearer will be issued,
each guaranteed a minimum annual dividend of 5
per cent. for the above period, unless the whole of
the paid-up capital shall have been sooner repaid
in dividends out of the profits. Thus it is proposed
to give the investor under any circumstances an
annuity equal to an investment in the funds, to-
gether w►th the speculative interest in the mine,
which the directors consider to be in the highest
degree promising. Francis Baldwin, Esq., is the
secretary pro tent, and the temporary offices are at
1, Finsbury-circus, London.

IDAHO.-Owyhee Avalanche, May 2—George
Collier Robbins is organizing a company to tunnel
IVar Eagle Mountain, and already $llO,OOO has
been subscribed towards the enterprise by the chief
mine and quartz mill owners and business men in.
Owyhee. He will start for New York in a short
time to complete the organization of the company.
The tunnel will tap the mines at from 300 to 1,500
feet depth.
Territorial Enterprise, May 16—From the office
of Wells, Fargo, and Co., in this city, there were
shipped during the past week, 5,214 pounds of
assayed bullion, valued at $136,038.53 ; from the
office of Wells, Fargo, and Co., Gold Hill, 4,563
pounds, valued at $128,243.42.
The Mining and Scientific Press says :—" The
prospect now is that a company of English capi-
talists will soon have an agent at Manhattan, who
will commence extensive operations there. Mr.
Baner arrived here during the week, and is now
engaged in surveying timber lands, water privi-
leges, &c., in the district for the benefit of the com-
pany. Mr. J. H. Boult, a well-known mining
engineer, will shortly arrive and report upon the
property."