Volcano weekly ledger., 1856-05-10
Volcano Tunnel and Mining Company.

such a thing.
Volcano Tunnel and Mining Company.
At the concrs on of an article published
two weeks since, concerning the contempla-
ted enterprzc of draining the basin, we
promised to suggest a plan by which that i'm
portant object might be accomplished. Hav
ing subsequently learned that a company has
already been formed, we will merely submit
for the present, statement Of its organiza-
ton
The Volcano Tunnel and Mining Company
has been regularly incorporated under the
proper Statute af this State, with the fol-
lowing gentlemen as Trustees: H. Cook, Esq.
President; Dr. Marshall, Alex Mills, and
Benz Evans Capital stock, 100000, divi-
ded into 400 shares of $3.50 each. The trus-
tees have determined to put into the market
at once, l4O shares representing $35, ,OOO.-
1t is believed that $35 600 viii be sufficient
to complete the work; but if it shall trans
pire that a greater sum be required, the COM
pany will then have the alternative of selling
as many additional shares Of stock as may be
necessary. The books of the company for
subscriptions of stock are now open at the Of
fee of IL Cook
1t has been ascertained that tunnel 100
feet in length, on bec-line drains the basin
some rs or so feet below the present water
level. To make it manifest to persons at o
distance, unacquanted with the facts, that
the investment will be paying one, and the
accomplishment of the enterprise of almost
ncalculable advantage to the town Of Yolca-
no, il will only be necessary TO say few
words There are haadreds of acres of min
ing ground in the basin that cannot be work
ed at prcsent-at least not with advantage
and profit for the want of drainage. The
hills and gulches in the ncighborhood of Vol
cano are all rich; but il has been sufficiently
established that the great bed of gold is in
the basin tself-which, indeed, would have
been but rational conclusion without exper-
iment. The dirt on the very surface pays
something, and the deeper the shaft the more
abundant is the gold The claims that have
been worked by pump and windlass, say TO a
depth of 10 to 30 feet, would pay, with
drainage, enormously; and yet at depth OF
fifteen or twensy feet the miner only finds
himself getting info the pay dirt No bed
rock having yet been found, (and at one
point shaft has been sunk to the depth Of
90 feet it is impossible TO make any cacula
ton as to the amount Of gold that would b,
taken out If the basin should be drained Il
or so feet. Certain it is that we should set
such a time in Volcano as has never yet beer
experienced in this part of California
"Forty-nine tines would return in full vigor
To make the investment paying one. th'
company rely first upon the amount tina
would be collected weekly for the privilege o
drainage; which would in itself, doubtless
pay good interest upon the cost Of tn
work. But in addition to this, flume wit
rifles and quicksilver would be placed in tn
tunnel, by which means an incalculabl
amount Of dirt would be re-washed. Thi
would be the great source Of income; an
good judges, experienced miners, have dc
clared their solemn conviction that the stoc
of the company would be the rery best in tn
State of California.
We shall have to refer to this subject a
another time