Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1870-12-24
ARRIVALS AND DEPARTURES.
LOCAL MINING ITEMS.

r L Thomas l. Corracco ii A HedSer
LOCAL MINING ITEMS.
Generally speaking, the stock market
has shown no great degree of excite
ment or fluctuation this week, neither
have there been many new devel-
opments of ore made in the mines.
The Chollar-P otosi has shown the
principal decline, based upon reasons
probably best known to the stock
manipulators, yet the near approach
of the next dividend, which will be
s. per share, same rs the last, calls for
a higher price to the stock. The Hale
& Norcross also will pay its regular
IS dividend, which Is q heavy percent
age OH the present price Of the stock.
The Sierra Nevada will pay a 81 divi-
dsnd; and these three mines are the
only one which will pay dividends
next month. The ALtu being better
financial authority than We are, we
give the following which it has to say
regarding money matters and the
present financial situation: 1.-The
supply of money ut the banks and
bankers has been regular and mll, with
some increase Of deposits rs the end Of
the year approaches, when settlements
are generally made. The rate remains
ut lSlI per cent. per month, and LOG
II per annum at the loan societies.
The coming year is generally looked
forward to with hope and confidence
in a more generally active business
than has, perhaps, been apparent in
the last year. The indebtedness Of the
country Is small, and its credits are
sufficient to cover the diminished de
mand to pay for imported goods" As
10 mining items, the following are
what we have to give this week:
cHoIL.AR-PoTosI.
Amount OF ore extracted for the
week ending to-day. l.1o2 tons; for
warded to mills, l,S00 tons; average
assays. $SS IS per ton. 'Ths dumps
are all full to overlooking, but, owing
to the cold weather Of the last week
or two freezing up Carson river. the
nine mills kept running on ore from
this mine have been unable to run up
to anywhere near their regular ca
pacity, compelling a corresponding
iessening Of the amount Of ore eN-
tracted from the mine. AS soon as this
difficulty with the mills Is obriated
the usual amount Of ore will be sup
piled from the mine. As we stated in
our last report, the settling Of the ore
body In the Belvidere section did no
damage, and the ore extraction from it
goes forward now just rs well as ever.
The stock has declined Il few dollars
since last Saturday, based upon the
fact that the DRIFT west from the shaft,
which was calculated to cut the Belri-
dere body 1875 feet beneath the present
lowest or Potosi level, did not find the
ore where II was expected to. IL pene-
trated $50 feet from the shaft, and Is
discontinued in that direction. and
branch drift Is started loO feet back
from the face, intended to strike be-
meath the north end Of the Belvidere
stope. Even should that body be
found not to extend to this level, still.
wines have demonstrated it TO extend
nt least 80 feet below the Potosi level.
The north end of the Blue Wing sec
tion shows considerable Improvement.
both In quality and quantity, and %
tons per day Of excellent ore are being
taken from the B street level, beneath
where the company's Office formerly
stood, The bullion yield for the pres
ent month will be as good as usual,
and there will be no falling OF In the
way of dividends.
IMPEMAI-EMPIRf.
The drifts both east and west ut the
l.3OO-foot level have nearly or quite
reached the walls of the ledge, without
finding any ore. IL the drift now
started at that level from the south
drift, toward the Holmes ground,
does not find ore as 1t promises. the
prospect will be discouraging. Judg-
Ing from indications, however, another
level 100 feet below will surely develop
good ore. At the annual meeting OF
fbe Empire Mill and Mining Company,
held at San Francisco day before yes
terday tl,e following officers were
elected: Robert Sherwood, o.. F..
Griffin, j. b. Fegan, Joseph Hubash
and w. G. Wayman, Trustees Root.
Sherwood was reelected President
George X. Spinney vas reelected Sec
retary.
sIERRA NEVADA.
Plenty Of good paying ore In sight
for the next year or two; and the mill
Is running to its full capacity OH it.
,fhis mining company has effected n
consolidation or absorption with the
Sacramento anu Mereuitn Company
whose mine adjoins 1t on the north, on
the following basis: Inc sierra Ne
vada Company ans IN an us oiu sioes
and Issues 2o;ooo snales oi new Nh,r M %,