The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-08-01

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Prospects at pixies eak.
The following letter, from the writer to T.
]. Rice, of our city, gives clear and relia-
bic account Of the condition and prospects
Of affairs at Pixies Peak:
GoLDKs CrTY, July Is, 1860.
DEAR BRorRRR IL have not written you
sfore this since my arrival in the land OF
gold because have had nothing OF any par
tioular interestVto communists, and now,
after waiting this long in order to be able to
state the facts in regard to matters here, from
my own observation, am still unable TO give
any decided opinion ~ TO the prospects, for
it will take at least oil this season to ezperi-
msnt with quartz mills 10 order 10 demon
strate how these mines will pay.
am entirely satisfied that came Is did,
without investing any capital except for out
fit. There are probably now ~ many ~ IS
quarts mills in the country, half OF which
mile, suppose, are already in operation,
and from oil accounts there are between so
and rs more on.the way. Of the mills which
are in operation, / doubt if more than one in
ten pays expense Of running, as yet. Some
of the machines are doubtless defective, and
it requires great deal Of experience to be
able to save the gold after crushing. have
no doubt, also hat it will turn out that the
| quarts 10 not nearly SO rich as has been sup
posed. Altogether, think, il will be dem
onstrased by this years operations that it
will require companies with large capital to
| work these mines successfully, and probably
sew eral years time also. / know OF some
quartz mill proprietors who are already dis
couraged, and have no doubt mills could be
bought here at much less than cost. At the
same time, other proprietors Of mills report
a good yield but every body here is so given
to lying it 10 difficult TO know when you hear
the truth.
4 From all my observation think il quite
possible--even admitting this to be tolers-
bly, rich gold country--that so much disap.
polntment will be experienced in regard tt
the time required to develop it, and the cos
OF getting the gold out, that the country vii
receive q backset which will disco urage an,
very large investments of capital next year
, am satisfied NOW that this country, 90 fa
I as Jet developed, viii not begin to eompar
with California, especially for the individus
q miner, although we will be able to judg
better in about two months what it will pa
large companies With machinery, SC.
expect TO stay long enough to satsf
4 myself about the future prospects here wit
), more certainty than can now be known.
/ am satisfied that there will be grand STAN
pede for "home'' in September and Ocsobe,
in fact there is steady stream Of returnin
"Plgrims," as they are called, which hs
been moving ever since our arrival, and bs
fore, for We met them at Fit. Kearney. B,
in The fall, the thousands who are not maxim
their "salt," and up to that time will nj
. make enough to pay for their bread, vi
), turn hopiewsrd with . rush. intend
> visit the mines on Arkansas and Blue river
il and may make an exploring or prospectus
), trip which 10 now under consideration ov
to and down the Grand river on the opposi
4 slope OF .he mountains and which empti
10 into the Gulf Of California through the 90
" oraio river.
- expect to return home some time in SCI
ember.
I'll The Clsshorns have opened their stock
o. Denver. was down there few days az
: and on their invitation staid with them Viii
. in town, which Was several days. Til
- board and lodge themselves.
At think they will dispose Of the small sto
. which they brought out ct . good profit.
:. Having been fortunate in getting oil the
!. cattle, 60, through safely, il they succe
!, in disposing Of everything on - good teri
!. as appearances now indicate, they v
j. snake good thing Of it," But the gre
!. question to be considered in going into 4
business Of freighting out and selling goo
is whether the trade will be permanent, 4
ID unquestionably By far the largest portion,
o, fact nearly all the money which is receive
+ for goods or il in general circulation, 10 co.
10 from the States, and almost nothing fro
the mines.
will be glad to hear from yon, and VI
., receive letters addressed to Denver at q
10 time.
u Present my regards 10 friends.
Yours, IN. RIOR.