The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-28

I Iron the london Mining Journal
! So much has been written at various times about
the gold fields both in California and elsewhere. with
regard to their geological formation and the various
circumstances connected with them that 1t would be
work OF supererogation TO enter into further detail
here, reterate tho statements Of accounts which
have long since been before the public sufficient it Is
to remark that though hitherto we have heard aston
ishing accounts OF the success Of the individual
workers. yet no actual results have as yet come to
hand d the prosperous effects OF the combinations Of
associations for the purpose Of carrying on gold min
ing ON large scale. In California this has arisen
in great measure from the absence of law, the
deficiency of title, and the numbers of reckless adven
turers who tocked thither Immediately on the dis
cvvery of the auriferous deposits The first company
formed here was the Anglo Californian, which was
started under most questionable auspices, and was
long IN bad odor. Eventually the direction was re-
modelled, ard il now holds n high position. After
numberless difficulties Sir Henry Huntley (the super
intendent purchased the fee simple of the Dcksburg
mine, which is now in full work. and remittances
expected the earliest opportunity About the period
OF the Great Exhibition the agents Of Col Fremont
arrived in London, and each, independent of the
other proposed to grant locations, which, owing to
that officers claims not being adjudicated upon
they could not put the essees in possession of, and
III this state they remain until the present
day-the Colonel, when he has the power, being
willing to give possession although the general
desire OF the companies at present to act en-
tireiy independent of him. and repudiate all connec-
ton. Some OF these associations, probably deIded
by the glitterng prospects held out to them, and
trusting to the bona fdes of the Colonel and his
agents, made to say the least most improyident bar
gains. As an instance, we may cite the Golden
Mountain Company, who, for lease to be contract
cd for, agreed to give Mr. Andrew Smith f3 900 in
cash, and Is, 900 free shares, 5000 of which were
actually delivered. Though this company are in
good position at present regards their funds they
obliged to despatch one of their directors,
who is to be there in March, to select location
which TO commence operations. Suffice it to say,
that in no instance could faith be kept either with
fet Er.p .,.ptt HI Tho Irt, A,ro
Maria Nouveau Monde, and other companies have
all either been obliged entirely t. abandon their con-
tracts CT seek fresh locations. The shares of the
Aqua FRA have been as high as q premium and
have been done as low as premium, they now are
at premium, and the arrangement made by Messrs.
Palmer Il Cook regarding the remaining 1000
shares held by them III virtue OF the Agua Fra loca
ton, has given great confidence IN the direction.
Their machinery IS Of frstrate order, and their
peIintendents (Messrs Hepburn aud Attwood) men of
great experience The West Marposa Company
have not yet we believe settled on their location;
whle the Ave Maria became participators in the New
York Mine from the 18th ult and are in expectation
OF shortly receiving cargo OF aurifsrous quartz,
which may be tested in this country.
One of the companies at present on the market
1.-THE Rocky Barr issued its shares at 800 each; but
little business has been done in them ately-as will
be seen from the suijoned table, they have been
done as high as $50; the lowest price f25. The
Cason's Creek Company, under the Craftsmanship of
Mr.. John Sader Zone OF the Lords of the Treasury
is held under the squatters title owing to certain
parties having taken forcibe possession OF large
quantities OF ore on the mine being the past induce
ment to work the property. The directors returned
to the shareholders l0s being one-half Of their
shares during the time they at e. they attain
cd prem they are now at !. The number Of COM
paIies formed in London for working gold mines in
California has been twenty; OF these six either
deunct or their existence not known, twelve are es-
tabshed and two still before the public, coming
out The total number Of shares to be issued was
L he NIT al he 1--WE king.
panies is f9s5 900. the two companies coming out
1900 COO, the six others f545 000-making an aggre-
gate of fl $50 00o this capital being exclusive of the
coo required by the Rocky Bar; ont Of the
twelve at various times have been at discount
is now at discount, and one at par. So soon as
actual results arrive from California TO any Of the
companies, there is question that the intelligence
must affect all OF iheln and in the present uncertain
state of what may be done by combination and eff
cien machinery it would be idle to calculate on the
eventuaiities that may occur.