Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-10-04
LOCAL miNiNa SUMMARY.
Fer til. Week R.si.s October 4, 1879.

During the week transactions o.
fluctuations in stocks have not beer
extensive at all. Some little extr'
animation has been observable In tn
stocks OF the American Flat section
based upon more favorable develop
ments In that quarter, and those more
favorable indications still continue
The Overman Company have with thu
most persistent and praiseworthy en-
ergy been pressing forward their drift
westward at the l0OO-foot level, until
they have nearly reached the point
where good ore should be found. They
are 400 feet deeper than any othe'
company on the Flat. therefore the
developments they are liable to make
are of vastly more Importance thar
can be made by the other less deeply
worked mines Of that section. The
mine Is we'll and economically man.
aged, and the enterprlsing proplietors
of Il deserve the most triumphant
success. The great Eastern failures
do not seem to seriously affect finan.
cial matters on the Pacific coast az
yet, and we all have hopes that the
storm may blow over without much
harm. The San Francico Alta says:
The supply Of money continues
very good. The Mint has delivered In
the first nine months of the present
year $l5,429,5 57 So In gold coin. There
has been exported East per rail- and to
China. Peru and elsewhere, IS. S3S, 1l3,
and the net amount paid IN for duties
over that withdrawn from the Treas
ury OH transfers has been 50, 115, 900.
This represents a demand Of IS, $685.
600. and a net supply Of 20, 500, 900 In
coin, which has been at the service OF
commerce and the crops, making cur
rency unusually plenty. The troubles
ut the East for a moment caused some
hesitation In looming money so as not
to lose control Of 1t In a s Of unfore.
seen events but the foreign Exchange
market In New York has once more
become active at 71G99A, or points
above the specie shipping rate, lndlca-
ting that the Imports Of gold from
England have been somewhat over
donc. Gold Is, consequently, lower
aud has q dull outlook In the face OF
the large amounts that are to come on
the market from now to January. =
This COST furnishes gold to make
$50, QUO, 900 per ainum new coins; II
the whole Of 1t was retained here We
should soon be overwhelmed with
money buried under gold pieces. But
the people spend the most Of 1t for i'm
ported goods: II they want more coin
they have to buy less goods. II they
have too much coin they can get rid OF
It In exchange for merchandise. This
coin which the people furnish and use
flows into the banks as deposits and
out again In the discount Of notes. The
banks have no option In supplying 1t.
A very little experience In the man-
agement of banks teaches the lesson
that all loans and foreign complica-
tions which have a tendency to send
coin out Of the country for speculation
or other than In the regular course Of
trade,a are unsound and must be ayoided.
The vast complications at the East, In
which %incovertible psper money Issued
by banks interlaced with each other,
with railroad credits and Treasury
man~ipulations, present an humiliating
national spectacle In the eyesof Europe
and other nations.
Below we give what we know about
the mines:
Crown Point.
Daily yield $50 tons of ore. The ore
breasts on the 1lOO-foot level arc look
Ing and yielding finely. There Is no
change IN the daily average yield Of
the ore slopes OIL the l2OO.foot level.
The l300-foot level continues to pro-
duce the usual amount OF rich ore ; in
fact all. the ore producing sections
throughout the mine are both looking
and yielding splendldly. The north
winze from tho 1900 to the l400.foot
level is down IS feet and shows con
siderable improvement In the quality
OF ore. The south winze from the
1900 to the l400-foot level Is down So
feet, still in rich ore. The main south
DRIFT on the l400-foot level Is In $50
feet, 1t being impossible to make more
than very moderate Roadway on &C.
count of the Intense heat. The main
south drift on the 1500-foot level Is In
175 feet, at which point a strong flow
OF water was tapped, that made It nee
essary to secure the face Of the drift
aud suspend work until the body OF
water Is drained. Tapping the water
at this point has greatly lessened the
flow Of water on the l400-foot level
and it Is expected that this level will
now soon be sufficiently drained to ad-
nit of a more rapid prosecution OF the
work. The DEVILS Gate mill, WHICH
has a crushing capacity Of 30 tons per
day. has been started up on ore from
the mine. 1t Is the intention to greatly
Increase the amount Of ore extracted
soon rs the mills on the Carson
River have water to run up to their
full working capacity. .
Belcher.
The ore slopes on all the levels are
looking and yielding splendidly. No
ore Is being extracted from the 1900.
foot level at the present time, as the
supply for the mills can be kept per-
fectly good. without trouble from the
other levels. The main incline Is
down Jos feet below the l300-foot
level, the rock In the bottom contlnu-
Ing to blast quite hard. The wlnze
from the 1900 to the l400-foot level 10
down l02 feet, still In high grade ORE.
The main south drift on the 1900. foot
level Is In $50 feet, the face still in
good bro. The north drift from the
main incline on this level Is IN a9 feet
The eastern portion Of the ore vein
the ZOO foot level Is opening up
splendidly, and promises a rich yield.
The general appearance OF the mine
throughout Il extremely flattering, and
as soon as there Is a sufficient supply
Of water Ia the Carson river to enable
the mills to crush up to the regular
standard, much better returns may DO
for. A dividend Of % per
share. aggregating $3l2, 900, was de-
to-day, payable October 10th.
Mint.
The main east drift at the first sta