Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-07-12
M1sMANAaEMENT OF MINES.

We have often taken occasion to con-
denim the action Of some mining companies
in the management Of their mines, as inju-
rious both to the stockholders and to the
country. There have been great com-
plants made since the depression of min.
ing stocks has taken place, that there have
been combinations among large ssockhold-
ers to run the price of stocks up to high
figures for speculative purposes, by "skin-
ming" the mine of its best ore, and paying
out every dollar for dividends, or in max
ing a great "splurge," and then leaving
the mine in a condition that it cannot pay
its way, or encountered with debts. The
fluctuations in the prices of stock in some
of our leading mines and responding re-
ports which have Of late come in respect
ing them, so much at variance with those
of a few months ago, when in most OF
,hemIthe ore was reported to be so extra
ordinarily rich and the deposits so mex
haustibly great. In speaking Of the stock
market, the american Flag Of July 9Th
says:
The stock market appears to becoming as
demoralized and as unreliable as the tele-
graph. 1t will not surprise US very much if
there should be another collapse in prices.
We are informed Of some pretty little 'bear-
ing" operations that will be made public in a
few days, which we think will c~orroborate
what we have said about the gambling-likc
system Of the Boards. We are informed by
one OF the largest shareholders in that mine,
that the famous Yellow Jacket, notwithstand-
ing the really great value Of the ledge, is at
present S400,0OO in debt! and there are sew
eral other companies with less valuable lodges,
but with high priced shares, more than double
that sum on the wrong side Of the ledger.
The Yellow Jacket, but q few months
ago, was the first mine in the State. It
was paying monthly dividends of 800
per share. Can it be that the ledge has
become suddenly barren: Oh, no it is
producing largely yet, but the company
"~splurged." 1t bought a big mill and
paid, some say, too big dividends. If the
statement made by the Flag is true, it
looks much as if such were the case. The
management Of mines must be changed.
They must be worked as systematically
and as economically for companies as
careful men would work them were they
their individual property, or there will
always be good ground for complaint Of
"bulling" and hearing" But, as re-
CARDS the Yellow Jacket mine, whatever
may be said by stockholders or newspa-
pers. the officers now having charge Of the
works we believe to be honest and capa-
BILE. Some extensive improvements are
now making in this mine-a new shaft is
being sunk which has not its superior in
the State, in point Of superior finish and
workmanship-a new mill has been bought
extensive improvements On the surface
and inside of the mine have been made, in
order TO make the mine more safe and
ultimately more pro6table-and all Of
which just now eats up the income of the
products; but the Yellow Jacket will be
all right before lex Fall, and zoe predict
that it will be the biggest mine yet in this
State. The lodges are in the claim, the
hosting works are on it, and with q splen-
did mill, to save in the expense Of crush
ing, this company has a prospect ahead
second to none other in Storey county.