Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-11-08
Hsw Mining Companies arc Raised
in New York---A Queer "Pros.

in New York---A Queer "Pros-
pectus.0
In order to illustrate the l%ooseneSs with
which some Of our New York companies
are gotten up, we will mention one, the
prospectus Of which 10 before US. This
"prospectus" 10 Q salmon-covsred PAM
phlet Of some sixteen pages, nine Of which
are devoted to bylaws, four to certificates
Of incorporation, names Of officers, etc.,
and two and q quarter to the prospectus
proper. Over . page Of the latter 10 taken
up with the number Of claims, name Of
the district, mining and county certi6-
Gates Of record, and . statement that said
mines are "near" . certain celebrated
auriferous quartz district in California.
The remaining page runs thus:
The reserved twenty thousand shares
working capital will be sufficient fully to
develop the mine.
A stamp mill, propelled BY stamp
power sufficient to drive twenty stamps,
will DO erected At the mine Immediately,
upon the completion Of which, monthly
returns Of bullion will DO made BY the
Superintendent.
Immense tracts Of timber surround the
mine, furnishing an endless supply for
fuel and other purposes At . small cost.
There 10 also q ditch Of water Of large ca
pacity running near the property, from
which . supply for amalgamation, as well
a. sufficient. to propel machinery III re-
quisite,) may be obtained, thus facilitat-
ing mining operations in the two essen
tial points, viz: wood and water, natural
advantages 20 seldom met with in mines
in general.
The company, having a clear title to
their property, and free from all incum.
ORANGES, feel justified in saying the advan-
tages and inducements offered for capital
uIsxcelled by any other property Of this
class, its location alone being sufficient
guarantee Of richness, located a. it is in q
district unparalleled for its mineral
wealth, a. shown by the amount Of bullion
shipped for exchange, a. we'll Al being
easy OF access and possessing superior
natural advantages. The company have
secured the services of q Superintendent,
who resides at the mine and has hsa many
years experience in quartz mining.
we look III fdlu lUI luiOillobioh 20 w
| the character Of the mine-whether It is
| of gold, or silver, or copper; whether It 10
. placer mine. hill-diggings, or an aurifer-
Gus quartz mine /; whether the quartz iii
it is quartz,) is rich or poor; what work
| had already been done, at what cost, and
with what results? Even the poor Dom.
fort Of a "big assay" seems to have been
denied. The only "indications' as to the
| mines character are that the company is
| called the -- Gold Mining Com
pany, and therefore, probably, has a gold
mine; and that the Superintendent 10 re.
commended as having much experience
in quartz mining" and hence their gold
mine is probably quartzose. Then. look
at what statements are made! Vague.
valueless; even worse than these! How
did the Directors know when this pros.
pectus was issued, that "ths sale Of 10000
reserved shares" would be sufficient fully
to develop" a mine concerning which they
seem to have known so littlei How did
they know that, upon the completion OF .
stamp mill. monthly returns Of bullion"
would be made BY the Superintendent ,
And how do we know that this very pas
sage concerning bullion was not inserted
to gull and defraud unsuspec,ing victimss
Then. what a parade 10 made Of timber
and water, both Of which are common
enough in the portion of California where
this mine il located! But the concluding
paragraph 10 the most singular Of all. In
it the Directors assert that because title is
clear, and there are nc membranes,
they "feel justified in saying that the ad-
vantages and inducements offered for cap
ital are unexcelled by any property Of itI
class !" Was there ever anything written
in any prospectus so absurd az this
A luminous justification, truly! And
the inquiry in many minds upon read.
ing the passage would be: "But which
10 It's classs Wildcat or what ," then
they say in continuation Of the above: "its
location alone being sufficient guarantee Of
its richness, and located 90 it 10 in . dis
trict unparalleled for its mineral wealth,
etc." Now the mine in question 10 many
(say eight or ten) miles away from the
celebrated district alluded to, and even
were it "in" this district, what would that
proyes It 10 full Of rich mines, to be sure,
but we have known any number Of mines
in the same district to ruin their owners-
every experienced person knows that each
mine must stand upon its " merits.
Blu, now N the most remarkable part
Of this company's history. Upon the
strength Of this prospectus-m we learn
from inquiry at the company office in
Broadway-eighteen thousand shares (of
the 100. 900 OF So par yalue) hare been sold
at too dollars and up,oard, per share, and
referring to our back files we see that as
much az 50 rs has been bid for it in the
New York Stock Board! At their Office
they state that the reason why they didn't
give more information in the prospectus
was that they didn't want to put anything
into it more than they were certain of-so
that from a perusal OF the document, we
Judge they were certain Of gerry little. They
say that they have since sunk 80 feet on
their quartz lode (it is quartz and the
rock has yielded by actual working pro-
cess $50 gold $50 it Is gold after ally per
ton, and is getting richer, as q total cost OF
$l2 per ton; that they have already at the
mouth Of the mine ready tor reduction 26o
tons Of quartz; and that instructions have
been sent out to purchase a mill. II the
| Company proves successful land 1t begins
to look like it) we shall be glad for the
sake Of those who have bought in; but we
should think that persons must be very
short OF opportunities for investment,
when they buy shares in such q raw, ILL
digested mining scheme as this prospectus
offered thsm.-N. Y. Mining Gazette.
SERIOUS CUTTING AHrRAY At GRASS
VALLEY.-On last Saturday evening. be-
tween 6 and 7 o'clock, an ARRAY occurred
between George Dalton and Dennis Dow
ling, in which knives were freely used.
The parties had been engaged in a num-
Der OF business transactions for several
years past, and Bowling was for some
time employed BY Dalton. On Saturday
afternoon the papers in a suit commenced
by Dalton against Bowling, was served
on the latter. Dalton wal in Pat Sweet
mans saloon. at the time above named,
when Bowling came in and they loon got
into an angry controversy about the BUSH
ness. No investigation has yet been had,
and il 10 not settled who commenced the