Grass Valley telegraph., 1853-12-22
QUARTZ OPERATIONS GENERALLY.


minds of capitalists and others, with regard
to failures in Quartz operations, both in Grass
Valley and elsewhere and in almost every
instance the failures that have taken place
have either been attributed to the lack of
richness in gold bearing quartz-to the mis-
management of Directors or lastly, to the
imperfection Of machinery. As to the first
tits now an undisputed fact that quartz is to
be found in abundance sufficiently rich. to
pay, through proper management, hand
some dividend. AS to the second objection.
1t can only be remedied, where it actually ex-
lists, either by experience or change of Direc-
tors. But in such instances of complaint. we
believe as general thing, the capitalist has
actually been more to blame than the Direc-
tor, and from this fact, not having perfect
understanding Of the expenses necessary for
the completion Of such an enterprise, they
allow debt to hang over the establishment.
though trivial in comparison, yet sufficiently
great under the existing rate per cent, to
barrassment; and all because the timid
stockholders begin to fear that it is losing
game, and thus abandon it, and that too, Just
at time achem q cery little addition of cap
itaI would place the business operations in
quartz crushing in a healthy and profitable
condition for making money. This brings
us to the last objection, which is the imper-
lection of machinery, and in this they seem
to forget that their own fears are the cause of
this lmperfection, for fearing failure they
neglect furnishing the necessary amount of
capital for the completion and perfection of
said machinery and thus, as we have said
above, they frequently cause failure, when
avery little extra funds, in comparison, would
complete their machinery and place the busi-
ness on paying foundation.
A week or two since, Mr.. Southwick. one
OF the Directors Of the Empire Mill, furnish
ed US with the following interesting state
ment concerning the business operations of
their company, which, by the by, even under
are doing good and profitable business
This mill, the Empire, with only eight stan.,,-
ers, and at twelve hours per day, have crush
ed 1900 tons Of quartz in four months ma
king a yield of $4,000. Cost of raising.
hauling and crushing, S22, 900, leaving a net
profit of $33, 900 for four months crushing
Now an Investment of $4,000 would have
bought every ledge, at that time, from which
the rock was crushed Had those ledges been
owned by mill, there would have been at
least four times the work done in the same
length of time and instead of eight stamp
ers, running twelve hours per day, there
would have been twice that number running
twenty-four hours per day, and consequently
there would have been four times the work
accomplished in the four months stated The
Inference is very plain as well as a natural
one An investment of $4,000 would have
produced a yield of four times $4,000. This
multiplied would be S216,00O Now multi
ply the amount Of expenses by four, which
"O"lo oO lO1O IIdd Ii ldf estimate, and you
have S88,000. Subtract this from the gross
proceeds, which is S216,OOO, and you have
remaining for stockholders. net profit of
$128,00O, for four months labor in CRUSHING !
This is fair estimate and may be relied On
as such. Now suppose, on the contrary. this
establishment was in debt, both for mill and
lodges, the rate per cent. for borrowed money
would be sufficiently great to keep an estab-
lishment Of even the capability of the one
above noticed in constant state of embar-
rassment and On account of a difficulty of
borrowing at times even at the present enor-
nous rate OF per centage. The business op-
erations might be clogged, suspended or even
entirely broken up, while at the same time
the report would be noised abroad that oper-
atiens in quartz crushing is a loosing game,
when the truth is, if pushed home, that stock
holders, through incapability or fear, have eff
fected their own ruin, in the very face of sue
cess, by Withholding very little additional
capital. Such are the facts in connection
with this business, the truth of which will be
proven by very few years experience.
lzs- Adams & Co. will please accept our
thanks for full files of States, Oregon, Pana-
ma and California papers. Also for Gleason's