Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-06-11
1T0CK CIRCULAR.
SAX FRANCISCO,
SATURDAY MoRsINo, June 0, 1855.

SATURDAY MoRsINo, June 0, 1885,
There is moro activity in the Money
Market, but we observe no change IN tne
rate of discount for prime business paper
nearly all of this description being readily
taken by bankers at l@l4 81 cent. per
month. At the present moment q strong
desire to remit funds eastward, while the
rates of exchange are so favorable, induces
q good deal Of borrowing for that purpose
among merchants, either with the view OF
anticipating maturities, or Of providing for
future purchases. The financial panic IN
London has induced the agencies OF the
different banking institutions in this city
to strengthen themselves o little, and most
Of their outstanding loans on short time
have been called in recently. Telegraphic
advices from London to the 26th Of May,
would seem to indicate q renewal OF the.
financial storm abroad, with great anxiety
as to when and where it would end. Since
the date Of our last report, the Commercial
Bank, of India. and the East the Oriental
Commercial Bank, limited; the Bank Of
London, limited; and the European
Bank Of London-have suspended.
The losses Of the frst-named institu-
ton have exceeded, during the past
year or two, z, 900. 900 including some
$1,000, 900 by. the San Francisco Branch.
The Oriental Commercial must not be
COMPOUNDED with the Oriental Bank Cor
poration, which latter has q paid up cap
ital and reserve fund Of more than Slo.-
900, 000., and is'regarded 90 one OF the
~staunchest banks in London. The failure
of the Bank Of. Loddod Appears to excite
some surprise, and was evidently not
looked for on this side. although its paid
up capital and reserve fund did not exceed
$500, 900. The business q. that bank has
been transferred to the Consolidated Bank,
and remittances to cover drafts will be
faithfully applied to their payment.
Receipts of Bullion from the interior,
since the 30th uft., amounted to $780,
900, and durinetKe month of May the
deposits. Of, gold and silver at the Branch
Mint in this city exceeded $~2,260,000.
The Bullion Market is in q state Of fer
mentation, and the. shipping demand
very active atHHigher figures than have
ruled for q long time past. Sales Of Gold
Bars arc reported at sso@S9o.a and silver
may be quoted at l392 $R cent. premium
for average grades. Higher rates also
prevail for Exchange. Currency and Bills
on the Atlantic cities are offered at $500
$' cent, premium on gold.- Sales ofTele.
graphic Transfers have been effected at 8
If cent, but the closing rate is about 4 $
cent. premium. . Sight drafts, payable IN
coin, rule at 90 cent. premium. Sterling
Exchange, for best bankers bills, may be
quoted at 483d,
Legal Tender Notes are dull and mac.
tive, and smalisales were made this week
within a range of 74s@73, closing at 72s
bid. Geographic advices to a lead
ing banking institution in this city,
state that the shipment of speciefro New
York, for the three weeks ending June I'd,
amounted to S29, 900, 1000. The quo
tation for gold is about ,147.
Nearly all the Mining Shares rallied
materially early in the week, but since
then less Strengthens been exhibited, and
the market closes dull aud inactive for
most stocks. Advices from leading claims
are, for the most part, favorable, and the
financial condition, of others is better than
it has been at any time since the beginning
of the year.
Crown Point was sold at ,s90@ss0, but
is now inquired for at $l.o20 bid, $l,l0O
asked. The total yield Of bullion for the
year ending May lst, was $6Se,l9l 81,
from lS,4691 tons Of ore-an average oil
S37 70 per ton. The cost Of mining this
ore has been IS 81 pefton, and the ex-
penses attending. the reduction Of $3.50
tons, at outside mills, was Sl5 81 per ton
At present about; IS0" tons DIRE hoisted to
the surface daily, and the ,ysst stratum, 40
feet from the main i6de, Is .said to show
Esome improvement. The actual receipts
Of bullion last month were $lo9,50o, and
a dividend Of $50 per footiwill be declared
to-day.
Savage fell from $3.50 to $500, rallied
to $3.50, and closed at $3.50. During the
week ending June I'd, 567 tons second and
third class ore were extracted. No first
class ore has been hoisted recently, but
considerable has been taken from thu
slopes, and now lies waiting the compile.
ton of tunnels to afford convenient mean!
Of exit. During the month of. May, 2.7l4
tons of ore were sent to different mills
and receipts of bullion for the same Pc
Rod are said to be $4,000 in excess o.
Disbursements.
Hale'& Norcross fell from 1910 to 500
and closed at $780,. There is no unfa'
vorable feature to reportfn this mine, and
the regular dividend will be declared TO-
day.
Gould s Curry steadily rose from $72(
to $500, and closes OF $7l5 bid, ex-divi'
'dend. During the month of May, 5,o74
tons third class ore were shipped from tht
mine. or this amount 3,340 tons were
crushed at the c~ompany's mill. After TIT
payment of O dividend of $50 per foot
the company have an actual surplus a,
their credit Of $4,000.
Yellow Jacket hos been actively dealt
in, and some 800 feet were sold, steadily
advancing from $40 to 500. then de.
~clining to 1886, and closing at $660@66o.
Receipts of bullion last month amounted
to Sl30,366 "a; other receipts were $l3,.
100 SO, and the balance at the credit oil
the company, May LIST, was $6,338 OF,
making a total of $l4s,464 90. The dis.
bur,ements for the same period amounted
to Sl24,o 0S IL. leaving a balance on hand,
June ls,,.of, S2S,48l,6k. in. whichis en-.
braced a lot of, wood on hand costing
Sl6,l64. The cost ofrernshing 2,ll3
tons of ore at Yellow Jacket mill was
Sll 424.per,ton. ssLasestAdvices from the
mine are thought to be favorable. and
the ore is said to-bsimpseving as raised
upon.i H..
Ophir receded from SSo6 to 1886. ad-
vanced to SS27, dropped TO $3.50, and
closed at $500. In the lower level, ore 10
still found in running south above the
fifth to the eighth foot!9' How far south
this body extends. opsaishrup1 cannot at
present. be determinedu. sis
Chollar.P ot6Sif' Has been II better favor,
and h~earsys6Def eetrfAnged hands, rising
from $2l0 TO $3.50, dropping to $240,
rallying to S265; -recediSs to $2lo. and
then selling at S2l2A@2IH. The Piute
station presents 40 change Ahd'or in the
| stope over head Of incline has almost
given out. In running west from the
Bsjazette, groundsoms. ore has been found,
but in raising up, the old works have been
49, 49,. T1A