Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1874-02-24

10 an improvement in that respect. aS
methods would be adopted which
would ensure such an improvement.
(Applause.) The result of nine months
actual assaying, taken each week and
each month, that there might not be
any possibility ofa mistake, were these:
Silver per ton S32; gold per ton S24, and
lead so; making total of $40 per ton,
on monthly average, whereas Mr..
King put the average at $40. From
this $40 per ton about 10 per cent.
would have to be allowed for moisture,
so that $40 would about represent the
value OF the ore per ton on leaving the
mine. This had been taken out mixed
together, good and bad, during the
whole OF the nine months, and the re-
suit had been so per ton. (Cheers.)
Now as to the yield. The same system
had to be carried out with regard to
the produce CT the furnace-the lead
carrying silver and gold-as with the
ore. Every bar Of lead run out had to
be clipped top and bottom, and these
clippings had to be well mixed to-
gether, and divided into three lots, each
lot being sent to different assayer.
When the returns agreed they were
satisfied, but when they did not fresh
assay had to be made, so that the re-
turns might be perfectly correct.
Great difficulties had for long period
of time been experienced in getting at
the true value, and i'm one case they
had Il loss on twelve shipments or car
loads, amounting to $4,000; but, ulti-
mately, the purchasers were satisfied
that the assays made by this company
were correct, and handed over the
money. The yield during the nine
months had been }52 per ton out of 10,
so that it took Sc tons OF orc to make
one ton of bullion, showing that SIS
per ton was lost in smelling, amount
ing to no less than 26 per cent, or over
one-fourth Of the whole contents of the
mine. Well, the results We're magnif-
cent; nevertheless, they had obtained
So actual yield when the ore had been
estimated ut $40. These assays had
been corrobOrated by the actual re-
turns, SO that there was no longer any
doubt as to the correctness OF ti.o as
been turned into cash, and they knew
exactly what they could make out of
the Richmond mine. He would give
certain comparisons with other mines,
that the shareholders might see the
value OF their own properly, FIR he
could assure them that they did not
know what they had got hold of. The
result of the working since March last
has given profit of, speaking in round
numbers, El20,O0O. Cloud cheers
That would be upon the smelling of
81, 1000 tons of ore, or an average of E:i
los. per ton net profit, which he thought
ought to satisfy any reasonable person.
liear, hear.) Now, it is not fair 70 the
mine, CT doing justice to the property,
to take these nine months as acriterion
of what could ard should be done Will
the property, for during the month of
April they had been working under
great difficulties, and in March they
had only had one furnace, and in May
they had only had two furnaces of
their own, the third furnace being IL
hired one, and the working of that Fad
been unsatisfactory. The profits would
have been doubled if they had had
their own furnaces entirely. He would
now take the three months of Septem-
Der, October and November, during
which time their own furnaces had
been running steadily, and had >melted
| 900 tons of ore. The net profits dur
ing that time were E45,0OO, or E4 per
ton profit on the G. (CheerS.) This
would give an n't ct what could be
done with the ore and their present es-
tabli>hmcnt of three furnaces. He be-
lieved that the profit could be still
further raised even to G5 per ton, esti-
mating, rs he did, that the ore would
continue of the same grade. and with
improved working in every depart
ment. QIcar, hcar.D The produce of
ten months working he could not take
the whole wear, as they might not he
able to work the whole year) would be
600. 900 ounces OF silver and 10000
.t.,I
600. He would institute 4 comparison
between the produce of the Richmond
Mine and the produce of some we'll
known mines of the Old World. The
shareholders had. doubtless, heard of
the mines at Freihcrg, in SaNony.
which had been worked for centuries.
Again, the HartZ Mountains were fam
Gus for Silver-prodllcing veins, and had
been worked for three centuries and Il
half. The produce of silver from the
Upper lIartZ had been, up to the last
return, three or tour years ago, an an
n,,al total from the whole of the mines
Of 330,0OO ounces, which was little
more than half the produce of the
Richmond Mine alone. The Freibcrg
Mines, which were larger, and We're
more largely worked than those of the
IartZ, gave an annual total return of
son, 600 ounces, showing that the total
returns OF the Richmond Mine in sill
yer and gold exceed the returns of sill
yer from the lIartZ and Freiberg dis
tricts together. This would give some
rough notion of the enormous produce
OF their mine during the last few
months working. They had S24 of
gold per ton in the Richmond Mine,
and III California a gold quartz mine
was conSidered Il to be a very good one
if it gave $40 per ton Of ore, and very
good indeed if it gave so, and all paid
good dividends on that amount, there
fore this company had gold mine
fused as it were in their silver-lead
mine of which they knew nothing.
lie would give another illustration of
the value of their mine. In the Em-
pire Of Brazil the MORO Nelho, owned
by an English company, the st. John
del Rey, IA most prosperous institution
until their timbers caught fire few
years ago, and the mine fell in: he be-
lleved they would be as prosperous
again. This mine for fifteen years had
returned f5O,000 per annuln on a capl-
tai of less than fl5O,0 900, and the yield
Of tho mime WAS Is of gold DOR ton, or