Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1865-09-06
NUMBER AZ.
it. let me organize some conclusions from
my various observations and statistics -
1 Who oaakor., nlo.aa e IL o.. ~

l. The eastern slopes of the Sierra Ne
vada, in both California and Nevada. and
the mountain ranges Of Neveda, are un-
doubtedly rich in copper, silver and gold,
silver being the predominating and most
available metal.
2. That, spite Of the scarcity of wood
and water, and the high cost of labor
and food, consequent upon the great dis.
tance from supplies, and the lack of rail-
road communication, the extraction of
these metals will pay generously for the
wise, careful and perseveriDg employment
of capital and labor.
8. That the Comstock ledge in Virginia
and its neighborhood ia being fully de-
veloped. and offers no opportunities for
new enterprises; though as Pacific capi.
tai is not satisfied with less than so or
rs per cent per annum, and eastern is
happy with 25. purchases of some Of its
mines, or of interests in them, might bo
favorably effected from the latter quarter
without the risk Of new enterprises. But
those who undertake such purchases. or
indeed any investments in this quarter,
must not think to find these people out
bere wanting ir sharpness at bargain.
Wall street is easily out-managed by
Montgomery street, and an old miner who
is generally a traditional Yankee with
large improvements, will fool q dozen
spectacled professors in single day. The
latter sort Of people are. indeed, at great
discount in this region, as all the rules Of
science with which they come equipped.
are outraged and defed by the location
and combination Of ores, rocks, oils and
soils on this side Of the Rocky Mountains.
4. The mines Of the Reese River dis
trict (Austin, &c.,) though Of narrow
veins, offer the most promising field for
new enterprises They are richer, and
seem to be more certain to hold out than
those Of the Comstock ledge; though in
the matter of continuance they need yet
farther testing. But no such enterprise
should be entered upon without first send
ing an intelligent agent out to examine
the condition of things the location Of
the mines, their improvements and prom
ises: and, if not himself miner, he
should call to his aid here, one of that
class upon whom he can rely for expert
ence and integrity.
8. That beginners in the business
should not be in haste to buy or erect
mills. There is superabundance to-day
of that sort Of property on tho Pacific
coast. Those at Virginia and its neigh
borhood are not worth what they cost
(six millions) by at least rs or 80 per
cent; and stamps and engines can prob.
ably be bought cheaper on this coast than
they can be bought in New York and
shipped around, or across the mountains.
The FIRST business is to work the mine
and get out the ore, which can be crushed
at the custom mills, already or soon to be
plenty, in the neighborhood Of all the
mining centers; and then measuring the
profits thus realized. and finding them sure
and reliable. the managers can decide
whether it is best to extend operations
with them by buying and working more
mines, or by running their own mills. "
6. Everything depends upon an intel
ligent and faithful superintendent. |
meet many such here, experienced Cali
fornians, Englishmen from the Mexican
|, mines, Germans Of both practice and the
ory at home, New York and Boston mer-
, chants Foremen of mills and mines,
first promoted from PICK and shovel, are
good material for such positions, and are
gaining them. The miners as class are
Of higher grade than eastern laborers,
r aud they offer many cases fit for the up
, per places in the business Twas impress
, yed with the wisdom Of an organization
which party of Rhode Island capitalists
, had made in Colorado. They combined
four or FIVE different mines and mills, each
distinct in its affairs, under the general
, management, or overseership Of an expe-
rienced, scientific miner from California.
, and sent along with him from home q
common treasurer and accountant. In
, this way they got the benefit of the best
; talent and experience, and the most reli-
able guardianship over the expenditures.
without making the cost thereof too
heavy.
Z. Do not make the capital Of your
, mining company out Of all proportion to
the cost Of the enterprise. Avoid putting
!, up property that has cost 100000,
and needs working capital Of as much
, more, to two millions. because you may
, hope some time to pay 10 per cent divi-
dend on such sum. And then, again.
, do not insist on having dividend at the
: end of the FIRST 80 days, unless you are
ready to pay an assessment at the begin
! ming thereof to meet 1t. .I
s. When somebody offers you a mine,
J where ore assays $1,000 or $4,000 ton,
!, you need not necessarily disbelieve him.
but do not necessarily conclude that all
! its ore, for an indefinite distance into the
! earth. is Of equal. The Comstock Ledge
. was opened with chunk that yielded
10000 to $4,000 per ton, or At that
|, rate but as have told you. the mines