Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-01-31
MINING SUMMARY.
Fsr III. Week Ksaiss January 81, 1874

The bears have paved stocks rather
roughly during the week. knocking
them down somewhat, aud vlctim'
izing Ophir especially, sending 1t from
as down to ga. Its lowest quotation
to-day. That being the leading and
most sensitive stock,g got used the worst
yet tho actual developments Ia the
mine itself justifes no such break or
depression /; therefore. 1t and all other
stocks along the line must and VIII
rally soon-probably next week.
Chollar. Potosl aud Overman, under
the influence Of good ore develop
ments each show all advance since last
Monday. but most Of the others are
somewhat .'off." Belcher and Crown
Point, as well rs others Of the Gold
Hill section. are better to-day, and
signs Of reaction In the whole market
are apparent. From the San Frau
cisco Ana we extract the following In
regard to money matters:
There Is n general abundance OF
money, but II seems 10 run In grooves.
Thus, some stock-houses nudge their
clients, the bowl running over, while
In other directions money goes a.Deg-
ging. Some Of the banks aud loan So
cicties are offering money. which Is
not always accepted. Weil.known
borrowers, on the proper securities,
get money at 10Sl2 per cent. per an
mum, but carry stocks nc lHe2 per
cent. The ease OF money Ia New
York aud London aida the abundance
here, more particularly that there has
been this month no demand for coin
or bullion for export but the supply
has considerably increased. A re-
marksble circumstance. this week. was
thu shipment OF 300. 700 half.dollars
East by railroad. THIS shipment, the
first for a very long time. has been
made on Treasury account, Ia meet
the demand for subsidiary coin mt the
Philadelphia Mint, where the demand
thi, month has exceeded the supply
$3.50, 900. IL the Philadelphia Mint
cannot supply the demand. which Is
altogether Irregular aud unnatural,
there Is 10 reason why the Govern
ment should not employ the Carson
Mint, which has little or nothing To do,
buy the bullion, pay In gold, aud shlp
the silver coins East. Ii q well
afford to pay the transportation. since
IL makes about six per cont. by tile
purchase OF silver aud turning IL Into
coin.
Below we give what We know about
the mines.
Ophir.
Sinking the wlnzs On the ore body
developed by the south DRIFT Oh the
l3OO.ioot level Is making steady prog
ress. the bottom still In good ore. Tie
I'M raise from the l500.foo level to
connect with this wlnze Is up n dis.
lance Of seventy feet. the entire dis
lance In good ore. Two ore bodies
have been developed by the recent
prospecting operations In this mine
one VI fourteen feet la thickness, and
Of exceeding richness. lying next the
west wall OF the ledge. aud another
varying from 60 to 100 feet In width.
of good milling ore, near the east side
OF the ledge. with n body OF barren
quartz and low grade ore Intervening.
The west body OF ore appears, where
IL was Ilrst struck, to incline to the
westward. although 1t Il the opinion Of
experts who have examined both, that
the two bodies will unite at no very
great depth. Both the Intervening
belt OF quartz aud the large east ore
body have tho natural Inclination OF
tina ledge to IN. eastward. The main
south drilt on the l6OO-foot level was
run purpo,ely In TIL, barren belt oil
quartz to avoid cutting either Of the
ore bodies until the south line had been
nearly reached. Tho south wiIze
on this Lowell "a started la the wn't
edge Of the east ore body, and, rs a
Of course. and Just rs expected
bv tile management, passed through
the orc during the week Into the low
grade ore aud quartz Intervening be-
tween the west and east bodies. 10
.penstratc this body will take several
when 1t will just rs surely aga,n
pass through aud into the west ore
body. This wlnzc will be sunk per-
pendiculsrly until the wet wall 10
reached, when 1t will Incline with the
din of the ledge to connect with tile
main south drift oil the l700-toot level,
and thu, ventiiato that portion oil the
mine. Large aud capacious ore dumps
are being erected. aud every prepare.
ton Is being made to begin the extrac.
ton aud reduction OF ore. there no
longer brlng a doubt ~ to the extent
and worth OF the ore bodies being de-
velopcd.
baltimore Consolidated.
On Saturday evening last a heavy
flow Of water was tapped In tho bot
tom OF the shaft. Just rs the last set Of
timbers necessary was being put In be-.
fore opening the G00-foot station. The
next day n breaknge Of some Of the
pumping machinery ensued. following
which came n small split In OF the
boilers. entirely stopping the hoisting
aud pumping, until tho water had
risen 1850 feet In tho shaft. The ms
chinery, however. has all been 70.
palred and the water lowered to with
In 30 feet OF the bottom Of the shaft.
aud 1t Ia expected that work at the
lower station can be resumed In n day
or two more. New aud powerful
hoi.ting engines Of the .ane make aud
pattern rs those Of the Consolidated
Virginia have been ordered aud will
be placed In position at the earliest
day possible. The grading Il already
completed tor tue new boiler, ard the
arrangements are such that the whole
OF the new machinery eau bc erected
without the least interference with the
prospecting operations Of the mine.
which It 10 tho intention to push
with all tho cnergy possible.
Consolidated virginia.
Tho south driit 10 now connected
with the north wlnze OH the 1900. foot
level. This connection has thoroughly
ventilated the slopes below the 1900.
foot level. aud purified the air current
throughout nll the lower openings OF
the miue. The work Of cutting u tor
a square set, preparatory to sinking
the winzs to tile li00.foot level. has
ll. ...ah .-ta-.