The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1870-07-19
rHr MARrf1 Ena EASE sullIuN.

the MARKfT FOR BASE BULLION.
We referred q few days since to the
shipment of so much base bullion from
the State of Nevada TO an Eastern market,
and quoted from The White Pine News
to show that this was caused by the higher
prices paid in that market compared with
those paid here. We have received IN
reply, from n party well informed ON thai
subject, Il communication correcting the
statement Of The News-that the smeit-
ing works of this city pays but $40 per
tun for the lead and S75 per 500 for the
silver. Our informant gives the prices
paid here at 500 for the lead and 81 to
81. Is Der ounce, or about 50 per cent. for
the silver, and says the price for lead in
New York is 81. cents per pound, instead
of 6%, rs stated by The News. The quo
tations by the last New York Herald is
| 6K. Two months ago it was about one
cent higher. We should be glad to see
| this large and increasing quantity OF base
bullion come to this market, where It OF
right should come; but to draw 1t hither
onr dealers must pay n price that will Sc
cure it. The freight on this article from
Elko to New York by rail is $54, and
from EIko to San Francisco it is SRA
difference in their favor of $50 per tun.
Where there is q considerable percentage
of eopper mixed with the bullion, it
sbould be paid for in this market rs read
ily as in n other. Copper is worth
four times as much as lead, and the miner
il entitled to the difference. II there
we're not a considerable difference in
favor of the Eastern market, the heavy
bullion producers of Eastern Nevada
would give this market the preference on
account of quicker returns.
A friend calls our attention to the
above, cut from The Chronicle, San
Francisco; and furnishes some data for
corrections Of the statements of our San
Francisco contemporary. To avoid bald
assertions, we will cite a case %controyert-
ing positions taken in the above article.
A lot of Il tuns Of ore mined on Treasure
Hill, was shipped by the owners to care
of E. ii. Arthur, of the house of Wells,
Fargo & Co., San Francisco. The freight
charge from Hamilton TO San Francisco
was S3S per tun. Arthur informs his
friends here, the owners, that purchasers
in San Francisco refused, to start with.
to touch the ore, unless it was first
crushed by and a guaranteed sample
assay furnished from Rowland Il Co.
This was a cost of IS per tun-making
expense, ON top of the cost of mining,
of SAC per tun. This requirement had
to be acceded to. An assay from the en-
tire lot showed a value in silver of $124.96
the tun-with II per cent lead and 8 per
cent. copper.
Arthur writes to the parties shipping
the ore that he has sold it for $50 the
tun, standing a deduction of ! per cent.
of weight for moisture. The consignee
writes hal he did all he could to get the
best price for the ore-in pulp-took
memorandum of the assay to every pur-
chaser in the city-and $50 wal the best
he could get. The most damaging fea-
ture of the report, however, was that
San Francisco dealers would make no
allowance at all for copper nor lead, and
the price paid was only GA per cent. of
the assay value of the silver.
These are naked facts. We will net
stop here to discuss them, nor to draw
comparisons between the figures of New
York purchasers and those of San Fran
cisco. 1t will not do for The Chronicle, |
any body else. to dispute u figures
are correct. Arthur is a we'll
informed gentleman, has been for years
in the banking department of Wells,
Fargo & Co., and is situated to procure
the best possible terms on a bullion or
ore transaction. The conclusion here is, |
that San Francisco is cursed with a ring,
to depress the base bullion interest for
the benefit of jobbers. These are the
reasons why ores and bullion are going
from White Pine to Newark. The opera
tors there take the ores or bullion and
make their reports. They make their
own assays, and name their prices-and
account for all metals contained. San
Francisco must do the same or lose the
trade.