Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1872-02-09
sra1K1Na BELOW TIE BELT.

COptS hShSs
full realizing sense Of the fact that the
great Comstock lode IL not worked out,
and In fact has but just fairly COM
menced producing. They begin to per-
ceiye that the richest and most extern
sive deposits in the depths Of the vast
mineral vein, are being developed, and
our mining men and experts most In
timato with the internal arrangements
thereof are now of the opinion that the
great barren belt is being cut through,
and the rich ore deposits lying below
1t are beginning to be opened. That
barren belt has been In the way long
enough, and 1t is gratifying to see In
dicatlons Of Its being passed ; such In
dications are to be seen In the great
Crown Point and Belcher deposit, the
new Savage strike at the 14OO-foot level
and the highly favorable appearances
presented at the lowest levels OF the
Hale & Norcross, the Gould Sc Curry,
the Ophir and other mines. We look
confidently forward to see more start
ling discoveries Of ore below the bar
rem belt during the coming season.
The present status and prospects of:the
old Comstock are to-day, better
than ever before, aud still greater
prosperity Is ahead. From the San
Francisco Alta Of Wednesday we ex-
tract the following interesting artt-
Gle on the subject:
We yesterday spoke of the great ore
body In the Comstock lode In relation
to It's stock aspect. The most import
ant consideration to be attached to 1t,
however, Is the great influence that
astonishing discovery will have upon
the fortunes of this coast. The public
have seen in the stock operations Of
the past ten years, conducted, as they
have been, upon very loose principles,
only great gambling schemes to which
bullion production has been In a man
ner secondary. Every development OF
orc has been 30 clouded with stock bub-
| bles as to hide from the public mind
| the fact that from those mines after oil
flow n Of the great elements OF State
wealth. They have rather been dis
| posed to look with suspicion upon all
business connected with mining stocks,
because great paper values have been
built up on comparatively small bull
lon foundations. When, therefore, n
discovery has been made Of a body OF
ore Of such magnitude as to exceed all
preconceived notions upon the subject,
and so great as to exceed In real value
even comparatively very high market
prices Of the stock the public are slow
to believe, and they are abused with
the u~tterances Of that cheap wisdom
which consists In a sneer or an ostcn-
tation Of experience in bubbles. They
are solemnly treated to profound
homilies on the immortality Of stock
gambling and the injurious influences
OF corporate shares. and those who In
weigh with the greatest JUNCTION
against stock bubbles are precisely
| the most pernicious class Of stock
gamblers, the "bears," whose ev-
sry instinct Is destructive. Never
theless, the fact remains that, In the
course OF ten years, the Comstock lode,
through 90 leading mines, has given to
the world $50, 600, 900 OF bullion. OF
which $22, 600, 900 has been paid to
stockholders as dividends. That bull
lion has been raised from a vast num-
Der Of ore deposits Of various dimen-
sions. all Of which have given out In
time to be succeeded by others. The
production of that ore has, so to speak,
created mining experience upon q
large scale, approximately periecting
mining science, and now single body
OF ore has been discovered n ex-
plored, which, partially developed as
It Is, shows In sight a value exceeding
half OF all TINT has been extracted from
the Comstock In ten years. That body
of ore Is represented by two compa-
niles, the stocks Of which are held In a
very few hands and r not on the
market. The ore so controlled will
not be produced In the unintelligent
and wasteful manner Of past years, but
Is In the hands Of men who have b
most experience combined with strict
business habits. The mills to reduce
the ore are In a high state Of efficiency;
those OF the Crown Point IAN reduce
Is, 600 tons per month, and Will start
March lst In full. The world may
therefore witness q rate of bullion pro-
duction such rs has lever before been
witnessed. This city In all Its business
relations cannot but benefit by the re-
suits. 1t Is almost a doubling OF the
State resources. There Is nothing Of
Safeguarding In the matter for the
reason that the intrinsic value Of the
property is far above what the market
prices Indicate, and the stock Is so held
as to DO out Of the reach OF those nefa-
rious knots Of bear operators who dam
age the reputation Of properties In
order to cheat holders out Of them. IL
Is they who are expansive In their de-
nunclans Of "stock bubbles" and
have the greatest solicltude lest tho
dear public should run the price up on
what they wish to buy cheap. The pro-
duction Of the metals will proceed In a
business manner with the view to the
cheapest cost and least waste. That
the existence Of such vast wealth
should stimulate In others the hope OF
making similar discoveries, and even
induce them to concentrate stocks and
pretended discoveries Is very possible
such things always have existed and
ol,yoys will