Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1871-08-19

These are the figures not Of all the
mines on the ledge there are q num-
Der of others-Seg. Belcher, Sierra Ne
vada, Confidence, etc.-which have
yielded ore, the whole of which On the
ledge will be about $l23, 600, 900. The
thirteen mines enumerated are those
regularly worked. and all Of which are
candidates Tor rich strikes, like those
which have distinguished the Grown
Point, the Gould G Curry, the Ophir,
the Chollar, and the Savage. The I'M
mense bodies of ore which lie between
the Crown Point and the Belcher i'm
part to those mines the high values
they at present bear. The production
of ore in the table against Crown Point
and Belcher comes down to May, the
end Of the Crown Point fiscal year,
and does not embrace about $l,OOO,OOO
since taken out, md $360,0OO, dlvi-
dends, paid In the present fiscal year.
It results from the aggregate, that the
mines have produced $84,355,OO2 50. or
which the stockholders have got 3D.
800, 900 net, or IA per cent. OF the pro-
ductlon, or 100 per cent. OF the present
value of the mines In the market, III
Guiding what may be called the pro-
spectiYe values Of the Crown Point and
the Belcher, since those values are
based not on what the mines have done,
but what they are going to do. II we
take the first ten mines, excluding the
Crown Point and Belcher, we find
that they have produced the sum of
$40, 449;982 SO, have paid their stock
holders $l3, 289, 800 net, and theirtpre-
sent value is q, 7s3, 100. That is, UNI
der the s~upposition that those ten
mines had been consolidated In one
property, and held in the past ten
wears BY one man or company, 1t
would have paid net 20 per cent. per
anntm on the present valuation. That
result has been obtained under the
most discouraging difficulties-the
utter inexperience of those who begun
the workings, the terrible mistakes
therefore committed, the great waste
which attended ignorant operations,
whereby, not more than half Of the
metal was saved, the great expense OF
transportation, labor and supplies, In
a perfectly wild country, and the
reckless stock gambling management.
Notwithstanding all this, the persist
ent holder Of the property would have
got 20 per cent. per annum In all that
time on the present value Of the prop
critics In the open, market. The face
of the affairs Is now changed. The
highest skill evolved by science, guided
by ten years. experience, now governs
the workings; mean OF communion
'tton have reduced the cost OF most ar
tlcles and bringing into use the reject
ed ores OF past years; at the same
time the great fact, Is demonstrated
that the most extensive and valuable
deposits repose at the great depths
now reached In the Crown Point. 1t
is also the case that the two most
formidable enemies that the miners
have encountered, viz, water and foul
air, are, or about to be, overcome.
The water, at the present depths Of
working, Is no longer encountered,
and the means OF ventilation arc
cheaply at the disposal Of all. This
consists Of. compressed air, an inven-
tlon by which the Mount Gents tunnel
became a success. Compressed air,
sent down from above, performs all
the work that can. be obtained from
steam. It works drills almost without
manual aid In the face Of q drift, and
at every stroke Of the drill fresh cool
air, compressed to fifty atmospheres,
Is dlsengaged, expanding and forming
a current. which promptly cleans the
mine OF foul air, smoke and dust. The
miner. no longer may work In O heat
of 1920 degrees, stripped to his buff, In
ten-mlnute shifts, bnt may pursue his
labor as continuously and comfortably
AZ above ground. The introduction Of
that invention will, In effectiveness Of
labor, be equal to a reduction Of more
than half Its cost. With the new ap-
planes acting upon larger and richer
bodies, such as those Of the Grown
Point and Chollar. It Is quite clear
that the future Of the mines promises
more than they hive yet realized.
What is true Of the Comstock Is also
applicable to all other mines.