The Portland daily press., 1865-08-30

its mines. or of interests in them, might be IA
vorahlv effacted from the latter quarter with
ont the risk of new enterprises. a. But those
Who undertake such purchases, or indeed any
investments in this quarter, must not think
| to find these people out here wanting in sharp
ness at a 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 dozen
spectacled professors in single day. The lat
ter sort of people are, indeed, at a great dis
count in this region, as all the rules of science
with which they come equipped are outraged
and defied by the location and combination OF
ores, rocks, oils and soil on this side the Rocky
Mountains. .ss3il
4. The mines of the Reese River district
(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 further testing. But no such enter
prise should be entered upon without first
sending an intelligent agent out to examine
the condition OF things, the location Of the
mines, their improvements and promises; and
II not himself a miner, he should call to his
aid here, one of that class upon whom he can
rely for experience and integrity.
- lUd6 Dt2lnucf6 Ill Lllt BlSlItSS SlOUlQ 4Ol
be in haste to buy or erect mills. There is a
super-abundance to-day of that sort of prop,
erty on the Pacific coast. Those at Virginia
and its neighborhood are not worth what they
cost six millions) by at least 25 or 80 per cent;
and stamps and engines can probably 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 cut the ore, which can be crush
ed at the custom mills, already or soon to be
| plenty. in the neighborhood of all the mining
centers and then measuring the profits tn us
realized, and finding them sure and reliable
the managers can decide whether 1t is best to
extend operations with them by buying and.
working more mines or by running their own
mills. @ III agL f,o-a
8. Everything depends upon an intelligent
and faithful superintendent. / meet many
such here, experienced Californians, English
men from the Mexican mines, Germans OF
both practice and theory at home, New York
and Boston merchants Foremen ofmills 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, and they
offer many cases fit for the upper places in the
business. l was impressed with the wisdom
OF an OrganizatAon which party of Rhode
Island capitalists had made in Colorado. They
AOAAt VI NV 0AAiCACAlt AAAAc,
each distinct in itsiafairs, under the general
management or overseership of an experienc-
ed, scientific miner from California, and sent
along with him from home a common treasur-
er and accountant. In this way they OF the
benefit of the best talent and experience. and
the most reliable guardianship over the expen-
tlitures, without making the cost thereof too
heavy. ia ~ 3 rs1s.rs, e..9sa
I. Do not make the capital of YOUR mining
COMPANY out of all proportion to the cost Of
the enterprise. Avoid putting up properly
that has cost 100000 and needs 4 working
capital of as much more to two millions, be-
cause YOU NAV hone sometime to nav 10 per
cent dividend on such a sum, And then. AGAIN.
do not insist on having a dividend AZ the end
of the first 80 days. unless you are ready to
nav an assessment at the beginning thereof 10
meet It.
When somebody offers Won a mine. where
ore ESSAYS $1,000 or s10.0Oo 4 ton. Won need
not NECESSARILY disbelieye him bnt az NOT ne
cessarily conclude that all its ore. for an in
definite distance into the Garth. Is of eoual
value. The Comstock ledge was opened with
chunk that Welded $4,000 to $4,000 per
ton, or at that rate: but as / have told Won.
the mines on that ledop that are ravino of oil