Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1874-02-25

coi, , three months, BY mall............ w
eors r.rs forwarded until paid for.
,.,xoxD CONSOLIDATED MIN.
ING COMPANY.
r-,-oor,linary General Meeting
che Sha rclsOl ilerS-M Messrs. Pro-
so-t and Corrigam give Rm Inter-
..t,ny Account Of their steward.
min and the Prospects Of the
Company.
[CoNCLUpED.]
r. King fully believed in the per-
ncncy in depth of the Richmond
ne and that was all that was re-
red His last remark before he
probert) left was this, "That
,h,v torrent of lead must have come
~ below" and he believed this, and
! the mine would be a permanent
There was one indication i'll the
"a which he (Mr. ProberD could
Kit was meteorological one. They
i p, n,,antitv of what was commonly
lied mispickel, a compound OF sui
mr.. arsenic and iron-arsenical py-
This was remarkable i'll the
rhmond mine. for the more arsenic
~ had the more gold they got; and
:ould tell from the furnaces when
no was a large amount OF gold in
ore from the unpleasant smell of
arsenic. lie could not but accept
sas AN augurv of the future perlna-
pce of their mine. for il you went to
,th or Central America, where the
Eater part of the silver mines were
hnd. this substance was invariably
escnt. and it was almost maxim
d if vou have no pyrites YOU have
silver or gold, and this held in the
sent instance. Some objection had
I'm offered rs to the perlnanency of a
ne in limestone formation, and the
hv Hill was very much of this de-
fiption. 1t had been made an OBJ
ktion by some persons, and he had
en it currently stated i'll mining
|pers that limestone formations were
scene of deposits, and not of true
SinS. Nothing was further from the
hh, as proved by some of the mines
South America, notably that of Ccrro
PaSco, in Peru, as we'll as in Cen
n America. From everything he
VI seen he was bound to draw the
Inclusion that there was every reason
| expect that the Richmond mine
|buld be permanent in depth, and,
wing a considerable stake in the con-
rn, he was very we'll contented with
(Applause.) As to the future eX-
orations, it was very probable that
her shoots of ore would be found,
nd this was the conviction of Mr..
|arence King, expressed again and
Ian. Explorations would have to
made during the year with the view
discovering new shoots Of ore. He
hd another very important branch of
pe subject to deal with. The past
ear's operations were not altogether
fistactory, the Richmond Company
Pving been working " since the com
lencement under the immense diSad-
Vantage of an insufficient working
lpial. 1t would want ut least $50, 900
carry on the operations of this COM
lny properly. The pttance OF sf20,-
!, originally set aside, was at once
Psorbed; he did not know exactly
pw, but it was not working capital
pw, small as the amount was. The
pornou> sum Of goo, 900 paid for the
foperiy had all been i" gobbled up"
the gentlemen who brought the
pmpany out, and they We're RESPONSE
|e for launching the company and
avlng it to starve for want of working
'pltal and pledging the bullion before
was W.! out OF the furnaces. He said it
1Ilhnr1tnly- ny1 Il, Il IL.
marks, that they alone were respon-
pie lor starving the mine and work
y II IN the wasteful manner in which
iad been carried on. Advances had
DE obtained on the bullion, and their
sources drawn upon in order to pro-
ae the agents with running capital
U the payment of wages. Sums had
so 10 be borrowed ut heavy rates of
NereSt during the whole time. Under
zen circumstances the property could
D' De worked intelliyen:lv, or to the
'sI advantage. The policy should be
MAKE as much as possible ont OF
'ery ton of ore in the mine by the
esl system of reduction. The mine
"eu the shareholders a large sum of
.o"rH; they had received in dividends
.en rliltn n OF the capital, but it owed
-I"'"" ana interest before they could
~ ,a',y enjoy anything like profit; until
o purchase money was returned they
au no real profit. During the past
eai lhey had been working out their
scserVes too fast, and at the minimum
proht. Mr.. King had suggested to
..,. NorrlSan and himself that the
,"M ,on,s should be stopped for six
nnai, a'nS, and Mr.. King would have
n"e ~, INA mat If he had become manager;
u. ' 'lis suggestion could not be lis
"e. y TO- and they were obliged to go
rnshing," and, consequently,
!, ii'S =. their property. The thing had
,sr, "a nen properly understood by the
.an .e.l"iderS, whose questions had
~" ~ reSafding the number of furnaces
;" .ne amount of ore smelted; the
.os!'oh 'an should have been as to the
o'' made. In a lead mine smelling
nigh temperature, which meant
niihS out from the furnace shaft a
Ne Il portion Of lead. and with it silver
,d M solu, was smelling at a loss, for
I III oo.iid not be smelted very rapidly
t an1u great loss, so that the policy
u ne 10 Smelt fewer tons Of ore at
cS J.' ;proilts per ton-and not to have
n Immense quantities Smelted as
;" w necn IN is ed upon. However, as
i"i, n> .hcy had done very well, and
.,h 7nt congratulate each other on the
' vi,' iiear, hear.) n further large
.t"s, & might be effected by better
ino 'n oi taking the ore out OF the
,tnr', ana by closer assortment of it
NJ e -, II reached the furnace, They
rno iee re Inherent zones of ore, but Il
ou p"rtlon OF il should not be smelted
INN, was poor, hungry stuff. con-