Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-05-24
LOCAL MINING SUMMARY.
For tn. Week Rnd,ns May 81, 1875

For TIE Week Endins May 81, 1873.
"a little off," has been the word
regarding stocks each day during the
week, and a deeper shade OF blue has
each day ~pervaded certain coun-
tensnces. "Short" sellers have not
been plenty, owing to lack of courage.
although this week was their time to
mako money. The shorts, however.
are not very courageous any more, as
a general thing, during an upward OK
element. The Crown Point. Belcher,
Savage and other mines, have in times
past taught them too severe and costly
lessons In that line. That stocks are
liable to 20 still lower within the next
few days, no one need doubt, but that
they will react and rule high the first
half Of next month, we have no doubt.
II any one has any points of merit to
show In mines, it Is the proper time to
produce them. The receipts OF the
Crown Point and Belcher mines are
large this month, and the dividends to
DO declared must be proportionately
so. No very heavy rise In stocks need
DO looked for this season, yet even the
present prices are not bad. Stock ex-
citements certainly are unhealthy, and
detrimental in many respects, yet In the
development of the mineral resources
of the country they are really Of per-
manent benefit. They bring In money,
and induce new explorations, which
otherwise might be deferred or never
made. Thus It is that so many
of the old locations which have lain
idle and unworked since the early days
of the washoe silver discovery are re-
covering from the subsequent depres-
sion, and now being rapidly brought
into deserved notice, the owners being
inspired with fresh courage to 60 ahead
and develop what they possess In the
way Of ore deposits. Another point
also Is to be understood in this connec-
ton /: Orc deposits which would not
pay for working, aud were therefore
abandoned In the early times, can now
be worked with profit, and are very
liable to lead to something better. One
thing Is certain, without the courage
and incentive to prospect, the actual
merits and mineral resources ot.this or
ANY ether country would forever re-
main undeveloped, and many . rich
mine would stay hidden from the bull
lion seeking world. Below we give
what We know about the mines:
segregated Rock leland.
The company recently purchasing
this old established mine, have started
In actively to develop it. They have
commenced cleaning out the old tun-
mel aud shaft preparatory to erecting
frst-class hosting works, and opening
out the mine properly. Years ago.
when the mine was being worked, a
drift east from the shalt, 100 feet from
tho surface, at a distance Of Is feet
cut through a ledge Of silver ore Of the
regular Comstock stamp, % feet wide,
and assaying $50 per ton on the aver
age. This body Of ore will be made
proftably available, and as much
more rs may be met with in prospect
ing the mine Mt a greater depth. The
location Is a valuable one, with a per
feet title, and one of the Oldest OF che
American Flat Comstocks.
Pony Express.
Thi. IL another of the old American
Flat Comstock mining locations nov
being brought Into notice and process
of development after years ofidle rest
II ia situated at the south end ofth,
Flat and was located In June. 1850
when a tunnel was run into 1t a dis
tance of $50 feet, cutting the ledge o
feet below the surface and running
into the vein matter about 20 feet. l
cnt through several good punches ant
streaks Of quartz which assayed we'll
Tbis old tunnel Is going to be cleane,
out for further prospecting. and q snai
,u;il no SINK at the most eligible point