Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1869-07-17
THE cHo11AR.poros1 EXHIBIT.

and upon which it made the most
extraordinary editorial comments we
have ever read in that paper. The
total receipts Of the company for the
past year were 81, l9G,aI7, e ,racted
from about loo, 900 tous of ore ; aud
the expenditures during the same
period were S972, 1874, leaving IA profit
in dividends of S?24,493. Upon this
showing, the editor of the Enterprise
comments as follows:
Now, without going further into the details
Of the report, we repeat that the figures con-
stitute q most suggestive and remarkable
exhibit. They show the necessity on the
part Of the Trustees Of the company Of con-
siderably lesscning the expenses Of extrac-
ton and reduction. This is due not only to
the stockholders, but to the State, which is
being stripped OF its wealth with u desperate
CELEBRITY almost unknown in the history Of
mining, without any apparent benefit arising
therefrom either to the shareholders or the
commonwealth. II 100, 900 tons Of ore can
not be made to return 4 profit Of more than
S225,OW, with an everage yield per ton OF
nearly S2i-if it requires an expenditure Of
S972,000 to produce 81, l52,0 600 in bullion,
with the terrible exhaustion TO the mine OF
1907 900 tons Of ore-then it is better for the
stockholders and the State that the mine
should be closed and kept closed until a
larger margin can be realized. We do not
know that ores from our deep mines can be
extracted and reduced at u less cost than
S2l % per ton the report Of the Superin-
tendent does not point to an item Of extrava-
gance in the management anywhere yet
we do say that in thus eXhausting the wealth
Of the State, and working a generous mine
to so marked n disadvantage, a great wrong
and folly is being persisted in, which inter.
ests not the stockholders alone, but every
property owner in Nevada. The same may
be said Of almost every productive mine Of
the Comstock.
Let us examine and see how correct
our neighbor is in his extraordinary
conclusion that there is no zap
parent benefit arising either to the
shareholders or the commonwealth
Among the items of expenditures we
find that ssh ,O7o OF was paid during
the past year for timber, wood and
charcoal. All this money went to
Washoe Courtyard as Washoe is
within "the commonwealth" that
amount has gone to its benefit. For
hardware and similar supplies, $l5,-
sos 25-expended in Storey County.
Paid for real estate in Virginia City,
SO, 200-expended in Storey County.
Paid for milling ores, S636,s7s Pick
pended in Storey and Lyon Counties.
For legal expenses, $4,000 40 to
lawyers in Storey County. Paid to
foundries, in Storey County, Ss,l9l Al.
Paid for labor, in Storey County, $685..
663. Advanced to Virginia and True
kee Railroad Company, S75,Ooo-also
in Storey County. And many other
expenditures, amounting to ut least
$3.50, 900, disbursed in Washoe, Storey
and Lyon Counties-which the Enter
prise cannot but admit are within " the
commonwealth" And yet our astute
neighbor would have such n mine
closed up. under lock and key, unless
the expenses can be lessened, "that il
is due not only to the stockholders, U
ITo THE SrArE, which is being stripped Of
~ wealth, with q desperate celebrity
unkhexn in the history Of mining,
,cihout any apparent bsnef, arising there
from either 10 The shareholders or The COM
m~onweahh." The editor of the Enter
prise is, indeed, n most learned and I'M
paralleled fnancier | George II. Pendls-
ton and George Francis Train amt
" deuce high " to him. Here we have
one Of the Comstock mines in full oper.
alton, and expanding broadcast among
our people almost 81 900, 900 annually,
and yet, says the great financial head
Of the Enterprise, the State is being
stripped of its wealth without any
benefit to the commonwealth This is
the first time we have seen the idea ad-
vanced that the commonwealth is richer
with its money buried and undeveloped
il its mines, than when extracted and
circulated among its people. Oar sym.
patty is in favor Of the common
wealth." and rs it has received $780,
900 Of the Sl,l52, 600, it has only earned
it, according to the standard Of BUSH
ness existing here. The balance has
paid the shareholders" very well on
their investments. When the railroad
is completed, and the milling and lum.
Der and wood items are reduced in cost,
being ut least so per cent, the share
holders will take just about 1888, 900
from the commonwealth, which they did
not get the past year, allowing the same
amount of ore to be extracted, with u
similar yield. On the whole, there is
no cause of encouragement for the
owners of the Chollar- Potosi mine-nor
for the State either, for that matter; as
instead of her being stripped Of her
wealth" by such mining operations, she
is in fact growing wealthy. II is n pity
we have not more such mines and
Exhibits" as the Chollar-Polosi.