New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-01-18


thing that will pay.
The Gould d Curry is the largest and the most
famous enterprise in Virginia. This company owns
the largest and finest mill, perhaps in the ~ofiu'
costing nearly a million of dollars, ard running
eighty STAMPS II has drawn but hundred ana
eighty thousand dollars from its stockholders, ahu
has paid them back four millions in dividends. Inc
total nroduct Of tho mine has been twelve millions
OF bullion. The net profit has been thirythree per
cent of the whole SUM- and but for extravaganza III
management would have been at least nifty. In one
year the profits of the mine amounted to one NIL
lion, and with railroad to San Francisco would
nave reached three millions. The present yield is
about two millions q year; it pays handsome
monthly DIVIDENDS; but it has exhausted all the
valuable ore at the present depth, and is working
chiefly the poorer ore that it rejected in its first
grcss through the vein. The company is now max
ing an experiment to find richer ore at q lower
depth; and its future fortunes depend mainly Oh
the result of the enterprise. Most OF sle capi'm
invested in the Nevada mines thus far has Dech
from California. The leading companies are owned
and controlled in San Francisco. To considers
BILE extent. thew have been the victims of stock
gambling. Although many great fortunes have
been made, both from the mines and the commerce
they have developed, California has not got back
the money winch she has sent to Nevada. Some
are of the opinion that she has invested many
times as much as she has received and that not one
twentieth, nor even fiftieth of all the mining
enterprises in the State have succeeded. But
probably q sounder judgment would decide, that
taking into view the increased value of property,
fair profit is now paid. While one hundred mil
lions have been invested in mills and mines, and
only sixty millions taken out in bullion, the mills
and mines are worth much more than the balance.
The principal results of Mr.. Bowless observa-
tions in the mining regions OF Nevada may be
summed up in few brief suggestions. The mount
ain ranges are undoubtedly rich in copper. silver,
and gold, especially IN silver. In spite of all
Obstacles mining can be carried on TO advantage,
and viii pay literally for the judcious application
Of capital and labor. The Comstock Ledge in
Virginia aad lis neighborhood has been so far de-
vcloped that it offers temptations for new enter
prises The mines of the Reese River district open
a promising field for experiment. They are richer
than those of the Comstock Ledge, and bid fair to
yield a more permanent supply Of ore; though in
the latter respect, they need further testing. But
no one can hope for success, without employing an
intelligent agent TO examine the condition OF
things, the location of tho mines, and their i'm
provcments and prospects. There should be
no haste in buying erecting mills. That sort
Of property is already abundant on the Pacific
Coast. The mills in Virginia are not now worth
much more than quarter part of their original cost
Stamps and engines can probably be bought cheap
CT on the Coast, than they will cost in New-York,
including the expense Of transportation. Every
thing depends on having competent snpcrintcn-
len,s. Nor should too much trust be reposcd in
tie flaming accounts OF interested portes. II docs
not follow that because specimen ores show
enormous yiod the mine is equally valuable for all
indefinite distance into the earth. The Comstock
Ledge was opened with chunk giving twenty or
thirty thousand dollars tun; but its mines now
do not average forty dollars tun at the utmost.
Even tho poorest mines have their rich streaks' 30
that the assay of handful cart load. affords
proof of their practical value. The safest method
is probably to make moderate investments in some
we'll lnanag ed company. and if as much as twenty
five per cent on the capital is returned, to take it
With joyful SURPRISE in full satisfaction for the out
lay.
Mr.. Bowles devotes TN important portion of his
volume TO the question Of the Pacific Railroad
His experience among tho mountains deeply I'M
pressed his mind with tho need OF its speedy
complexion His confidence In tho prac,icability
Of the measure increased with every mile Ct his
Journey. Materials for its construction are not
wanting in favorable localities. There is plenty Of
good timber in the mountains. The soft cotton
wood Of the plains can DO hardened by chemical
process for seepers and ties. Water can be pro-
cured By artcsan wells in the thirsty stretches of
the desert. The first third Of the line, from the
Missouri to the Rocky Mountains, presents CON-
paratively few difficulties. Three hundred MEL
will grade il as fast as the iron can be laid. Ii is
level, natural roadway, with but little Bridging, and
10 v'ant of water. From the base OF the Rocky
Mountains TO Great Salt Lake, there are no
moro formidable obstacles than on the railroad
from Springfield to Albany. As the line reaches
the California border, the Sierra Nevadas present
the most difficult part Of the work. Bat the diff
cultes are already in a fair way Of being overcome
BY the energy Of tho population, and the ability
and resources of the California Pacific Railroad
Organization.
The reception Of the travelling party in Utah was,
ln the highest degree, hosptabc and enthusiastic.
Mr.. Bowes was led to g favorable opinion Of the
material progress Of the Mormons, and its value 10
tae country. The order, fruGaty, industry. and
morality that he found organized in that remote
spot excited his constant admiration. While be
could not fail to respect the personal sincerity and
character of many of the leaders, be felt deep dis
1I.t ct the system Of poygamy, AID its barbarOus