Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1870-10-08
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LOCAL MINING ITEMS.

LOCAL MINING ITEMS.
Stock sales during the week have
been considerably less than last week.
Prices, however, are firm with, If any
thing, advancing tendency. The Chol-
lar-Potosi. and Hale & Norcross, have
each declared dividends, respectively,
s. and 8, and the Gould Il Curry,
under the stlmulative influence Of the
good bullion yield from that rich ore
streak worked in the Potosi section,
has also declared 4 dividend Of $40 per
share, or $40 per foot. The Yellow
Jacket shows quite an advance in price,
based upon what Is about to be devel-
oped at the l,0O0-foot fevel. and also
on an anticipated dividend. As to
financial matters the Alta says:
There is no scarcity Of money, al
though we are now In the midst Of that
period Of the year when more or less
stringency Is usually experienced.
Our condition as compared with last
year, presents a perfect contrast. At
that time money could scarcely be had
upon the best securities for the most
legitimate transactions. Now the
supply Is adequate to all such require
ments. Some increase In the demand
Is perceptible, owing to the general
Improvement In business within q few
weeks past, but rates are without
change since our last reference; ruling
chiefly at per cent. per month ut
bank for satisfactory paper. For long
loans upon mortgage security the pre-
vailing figure Is ~ per cent. per an
mum. The outdoor rate Is 10 to 10 per
cent. per annum, according to circum-
stances" The following are what
items we have to give this week rel
alive to the mining situation:
HALE & SoRcRoss.
Daily yield, $50 tons, of which 100
ION. Is from the 9TH or lowest level,
and the balance from the upper levels
In the old mine. At the 9TH level the
ore standing In the breasts. both north
and south OF the shaft, is Of very SUI
perior quality, and the quantity is suf-
ficient to insure the payment Of the
usual dividend for several months.
The sinking Of the main shaft deeper
Is progressing at q satisfactory rate,
and the station for the new Sth level
will be opened during next week. A
new pump Is being placed In position
to raise water from the new drainage
reservoir, 40 feet below the 18th level.
The pump column reaches from that
point up to the 18th station, a distance.
Of go feet. A system Of these subter-
ranean reservoirs has been adopted, Of
great practical utility in lesseuing the
strain on the pumps. Immense sup
plies Of wood aud timber r on hand
at the company's works, and In Carson.
The quantity Of timber at the latter
place alone, belonging to the company,
Il 1900. 900 feet. The financial condi-
ton Of the company Is remarkably
healthy. The regular monthly divi-
dend Of IS per share. or 500 per foot,
is payable next Monday.
YELLOW JACKET.
Daily yield from $50 to 200 tons, all
from the 800, 900 and l,000-foot levels.
The DRIFT north at the last mentioned
level Is within 20 feet Of the winze
from the level above and the connec-
ton will be made about next Tuesday,
ut the present rate Of progress, the
vein matter being somewhat softer.
The face of the drift Il in all quartz.
When connection with the winze Is
effected a fine draft Of cool pure air
will he secured, when the good ore
body known to exist in the winze and
TO the west Of its bottom Will be got
after and made to yield up its bullion
riches. Owing to reduction OF eS-
penses In having the timbers for the
mine fitted at Carson, and In other
respects, added to the increased bull
lion yield Of the mine, the finances OF
the company are In n particularly
healthy state, and the accumulation OF
money In the treasury warrants the
anticipated resumption Of dividends
shortly.
CuoLL.AR-PoToSI.
Daily yield. about 260 tons. The
ore breast south at the Potosi tunnel
level has given out. 4 wall Of porphyry
appearing entirely across. The vein
Of white quartz, Z feet wide, opening
out in that direction has been drifted
upon south 80 feet, when the quartz
gave out entirely and the drift was
abandoned. The other ore producing
sections are looking and yielding
finely. The regular monthly divsdend
Of g per share Is declared payable
next Monday.
GROWN POINT.
Daily yield between IS and so tons,
from the upper levels. The ore shows
considerable improvement, and con
seauently an Increased bullion yield
results. Tho incline Is now down 10
feet below the l,l00-foot level, the bot
tom showing hard, lively white quartz.
The drift south at the l,l00Lfoot level
Is in ll3 feet from the main east drift,
and the face shows hard porphyry and
quartz mixed.
ovERMAN.
Daily yield about 70 TONS principally
from the Lambert tunnel and the
lower tunnel, with eight or ten tons
per day contributed from the south
part Of the 400-foot level. Tho last
mentioned section shows considerable
Improvement, and the same may be
said of the quality of ore produced
from the other sections, a samples
showing an average assay of over $40
per ton.
GOULD AND CURRY.
Daily yield about seventy tons all
second class ore. yielding an average
assay Of $5s, with the exception oi
about one ton per day Of first class,