The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-07-06

ratioss about being commenced The daily yield of the
mines at present great AMI profitable that large
dividends must b earned the nrst twelve months. We
have DOUBT the most extensive system OF operations
win adopted in working the gold and copper veins Of
this company and that results will be shown that viii
sstonish the people of the old Rip Van Wrinkle State,
where all Il is mineral wealth has lain hidden for ages
The supply o. copperfrom the mines Of North Carolina
wil in few years, be very great, and ultimately the
production. of this metal from mines within
limits viii be great that shall be compelled to
go abroad for the bulk of consumption The report
of Mr. Wolfe vii richly repay careful perusal
New York, July 2, 1858.
To THE STOCKHOLDERS MOULLoCK GOLD AND COP
PER MINING COMPANY
Geptemep-On the 10th day OF June last electe
President Of your and entered AZ once tn
to considered il proper 10 personally visit your pro
perty aud become practically acquainted with its loca-
left this CITY fr North Calosa on the 18th june On
Wednesday the 22d arrived at Greensboro, with ten
experienced Cornish miners. We at once proceeded -
the mines and entered immediately upon thorough ex-
animation Of the works. entered all the shafts all the
levels and made myself perfectly acquainted with the
operations Of the miners All the information ! could
leayn from the miners awaited myself Of but deter.
mined from the start TO be governed entirely by
judgment snd shall therefore give the result of my
individual Investigations. II is my firm belief that not
half Of the richness and extent of this immense nine
raj property has been imagined much less realized
mind produced By the exhl of such
OF copper My ideas had become pretty exravagant
previous my departure from this city but they
bly, than ealzed. 1t il true, that had
before anything Of the kind but my widest
antic pations considerably exceeded.
Upon entering the premises OF the company found
the surface literally covered with stacks OF copper
should think there at least three hundred ton
ready for putting Into barrels sacks for market THIS
cooper i'll average about twenty eight per cent in
ri.hDess, and can be placed in this or any other
Dor bern port, at nm expense OF not over ten
A1Ign t. and hA SnII
for $3.50 per ton cash. This will give agge
gate Of $40 o00 have given direction TO have this ore
ed for ke, and shall have 1t shipped for Balti
more where 1t win net the company the greatest proi
| also found the surface immense heaps Of fresh
sold just es came from the mines and vast piles OF
taugs ense from the workings OF the gold crushing
chimes during the previous twenty years IL is
estimated BY those acqusnted with such ma tiers that
there least hundred thousand bushels OF fresh
ore and tnree hundred thogsard bushels OF fangs
the ground eady for the application of the most approved
machinery Of the day Tor the extraction Of gold There
only tgo CHILEAN mills The company's proper
ty have ordered the construction Of ten more, which
will make force OF twelve mills. capable of crushing As
crush $40 bushels Of fresh gold during twenty four
hours. The yield OF for many years past in the
bushel At this rate the aggregate yed of welve Chill
ian mills will be 81 ASS per day. The taipgs must be
worked with the most in proved machinery known For
that have ordered two OF Bsrdan and one OF
GA Diners crushing machines. These will work up
average thou and bushels per day, which wn yield
the of 81 per bushs aggregate of 81 600 every
t.erty four hours operation This makes grand total
Of So 4s5, (three thousand four hundred and eighty
five dollars from the production Of gold alone In this
calculation have taken facts for my data, and those
derived entirely from operations of machinery under
my immediate supervision
We have already shown that fresh gold ore from the
McCuock nine crushed and amale ama,ed in Gardiuers
machine this city yielded upwards Of S12 per bushel
In estimating the product have confned myself 10 the
result alzed nom our old fashioned Chilian mills You
will by this that the whole capital Of the
pany will be returned the stockholders from the pro
dueton Of gold from materials low on the surface &C
tually in sight and available.
Tie cost Of obtaining such immense yield, is compa
ratiyely Insignificant 70 be hardly worth attending
to here. The daily expense Of working these Gillian
mills would be uucer $50 We have ten negros In the
gold each receives $50 per with which he
provides himself with board lodging, and clothing We
have made contract for these men, upon these terms
for long time aad they among the best laborers
the mines They industrious, tractabe and appear
to thoroughly understand the business in which they
engaged have arranged for double present force
OF which will be sufficient for the most efficient
operations upon our gold veins
From this sts ent you Can form pretty good idea
OF the value OF the companys property above ground
Below tbs surface the minera wealth exceeds anything
imagined. before realized that nature had
eopceptIgtd in such immense masses such yaluabls
minerals Upon descending to the first, what is called
the sky foot level enornoHs of copper
met e. in every eeon. As far the e5e could
extend, bright, gitering BODY Of copper exh
tied. i entered upo1 levels extending about fifteen
hundred feet, exposing the rich magnificent sens Of
copper gold the entire distance There twelve
shafts varying depth from sixty to ninety feet The
veins dip to the southwest apgs OF about forty
thickness staed by Professor jackson in his report
The miners think that, they extens do Eads they
viii become more perpeneicuer The evidences are in
favor of permanent yield TO extent force may b.
applied. From Elk of The shafts already opened the
oaiy extracting copper Three negros in
shaft taking out about ten tens Of copper per
day. As get oar steam engines IN working
ORDER shall raise from each OF the twelve shafts
Confident OF having all mac oirery in operation
Of full twenty eight per cent in viii average fifty
tons per day THIS i a tie rate OF only about four tons
from each shaft.
You must bear in mind that the McCulock mine
has been worked for taan twenty years.
The shafts and levels have been opened and operated
upon the most scientific principles, and tley
in such perfect order, that hundred could be
placed at work under ground ia less than
twenty four hours u Soud require an expenditure Of
leas. three hundred thousand dollars OF capital and
upwards Of two years time to place nes nine equally
rich and fssorably located, in the position tho
NcC slock at this moment We have this advantage,
at east over all others in this county. Ia less than
thirty days from the date CT possession shall have de
vsred the hundred tons OF copper ore sold az auction
the Goth Of June and have as much more on the way
to arke TIE actual expense OF mining and marketing
ton CT copper ore from the McCuock mine Will not sx-
coed SIG (sixteep) per ton That figure IS Tie outis
ring every expenditure The vii average 10 rish-
ness about twenty eight per worth ia tas market
"a so for each per cent hs will give Sl26 ton gross,
slo ger At the rate Of yield named ABOVE
$50 tons per Gay income of S. 800 per day will bs
realized from our c7pper ore
By this gu viii see that we have immensely vala-
abe property II my estimates are considered extravs-
CANT, there vide margin for reduction without bring
irg the result below mot productive points On
capital OF 81 GOO 0oo dividends must be
a.o aud what height premium the market value Of
the stock viii rea;h is question that cannot be deter
mined for years The gar value Of miaug shares Is
merely nominal For the purpose OF sho sing what Ad
have been paid upon the shaces Of mining com
psns estabs bed 10 Eogland give table selec ed from
The London Mining Journal OF recent date
Pdif in Preseu price
ConduJrow copper ............G2s 9l05
Corny stwi h, lead ................ 60 100
Devon Great Consois, copper ...... 400
Fact Whesi Roe, silver lead ...... 80 200
Great Work, tin .....,.s.. NV @oo
IisbufBe, lead .... ,.............. 20 100
North Pool, copper ............... 228 ~
Par Consols, copper ,,........ Ia ~
to,,iv eonrer ........... 50 90
South Togus, copper ............. 10 iO
Vbsal Iass.t copper 49,. ...... 1914 SO
Wheal, Butler, copper ............ 100
wicklow. opp-.,.,.,,..,......" a 36k