Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1870-10-15
LOCAL MINING ITEMS.

report this week, yet we have nothing
Encouraging mines hold their
own, which Is pretty good. Stocks are
firm, with considerable transactions,
showing no present indications Of the
disastrous breakdown and prostration
predicted by u San Francisco tel
egrams Of few days since. The peo-
pie and operators Of that locality may
lose all the confidence they see fit In
our mines, but the old Comstock Is
pretty good yet, and contains plenty
Of material for numerous dividends
like those four healthy ones disbnrsed
last Monday. As to the financial sit
uation the Alta says: "0ur money
market during the past month has been
we'll supplied, and the demand good;
an improvement in trade has augment
ed the requirement. We note an in
fux Of capital, and larger deposits in
our banking institutions. Anew bank
Is about to be inaugurated In this city,
under the Amended National law,
with a capital Of Z 1000, 0o0-to be a
bank Of issue on a coin basis, and con-
Quoted by prominent capitalists. We
observe Increasing confidence as re-
cards the future. Our business men
are In better spirits. The period Of
depression through which We have
passed has been fraught with useful
lessons, which will be remembered for
a time, ut least. and induce a greater
degree Of economy, prudence, and con-
s~ervatism ; and as the products OF the
country come forward and are real
lied, prosperity will be established.
The supply Of merchandise Is good.
We owe less than usual, and have still
a large portion Of u last grain crop
on hand. The bank rate for money on
prime short business paper Is l per
cent. per month. In the open market
the rate Is l9lh per cent. according
to securities, with occasional transac-
tlons at 10 per cent. per annum, Long
loans upon mortgages are taken by the
Savings banks, at 1922 per cent. per
annum. The tendency Is to lower
rates" The following are what items
we have to give relative to the condi-
ton of the mines In this section:
OCCIDENTAL.
There Is nothing new to report, as
far as either mine or mill are con-
cerned. Both are running we'll as
usual. At the annual meeting Of the
company, held last Monday ut Vir-
ginia, the following gentlemen were
elected Trustees: John Prescott Smith,
Mark Strouse, John Rapp, L. W.
Newell and K. 7. Smith. At a subse-
quent meeting Of the Trustees the fol-
lowing officers were chosen: Pres
ident, John Prescott Smith; Vice
President, Mark Strouse ; Secretary,
Chas. NJ. Mayer; Superintendent,
William Weston. The assessment No.
2 Of IS per share, recently delinquent,
and the stock sale Of which was stopped
BY the injunction of j. B. Cavalier,
was rescinded, and In its stead a new
one Of 81 90 per share levied. It was
also resolved that all shareholders hav-
ing already paid said assessment No.
2, Of Is per share, now r%escinded, shall
be credited on the books Of the com-
pany of such amounts paid; that said
credits shall be used towards nquidat-
ing the assessment now levied, or any
other which may be levied hereafter on
the stock, and the balance Of such
amounts standing to the credit Of par
ties having paid the IS assessment shall
be refundedto them when the company
is able to do 20. All legal and finan-
clal difficulties with Mr.. Cavalier have
been adjusted, and the affairs Of the
company will now progress smoothly,
a. they should.
Daily Weld 20 tons. principally from
the eighth or lowest working level.
The Potosi body yields about 20 tons
Of excellent paying ore, milling over
$50 per ton, materially assisting In the
profitable working Of the mine, the
bullion yield being considerably more
than expenses. The ninth or new
lowest level Il being opened as ener-
9etically as possible. The DRIFT east
from the shaft Is now In over 100 feet,
and the south drift toward the Hale &
Norcross III feet. A connection will
shortly be made with q Wine from the
level above, giving a good air circu-
latfon, when q cross-cut will be made
20 intersect the ore body known to
extend down from the eighth level.
YELLOW JACKET.
Daily yield 100 tons, from the 500,
900 and l,oO0-foot levels. The various
ore breasts continue looking and yield
ing we'll, and are liable to hold out for
long time yet. A survey made a few
days since shows the face Of the DRIFT
at the l,OOO-foot level to be farther
from the WINE 1t has been running for
than has been supposed. The con-
nection will be made about the middle
Of next week. The face Of the DRIFT Is
IN good lively quartz, with occasional
spots Of metal. Important develop
ments may be looked for o
CROWN POINT.
Daily Weld between 40 and 80 tons,
nmo 8 last week. No particular
change 70 note. The incline Is now
down 81 feet below the !, lOO-foot level,
and the bottom Is In hard white quartz.
Tbe drine south at the l,l00-foot level
III. roo faat from the main east drtfe,