Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1874-01-31
THE RAYMOND & ELY.

dent Bull and Superintendent Day were
published in San Francisco. At this
time we can only find space for the re-
port of the President, viz:
To the Stockholders Of the Raymond
& Ely Mining Company: A short time
after the last annual meeting of the
stockholders of the Raymond & Ely
Mining Company, diminution became
apparent in the quality and quantity Of
the ore, and OF consequence, IN the pro-
duction Of bullion. This condition OF
affairs has extended throughout the year.
We have been, for some time past, and
are still engaged in developing and ex-
ploring our mines, with every reasonable
hope of soon discovering new deposits,
corresponding in character with the rich
ores extracted in former years.
During the wear 1872 dividends were
paid with great regularity. Anxious not
to depart, If possible, from long custom,
the Trustees paid dividend in January
last, relying for much of the amount on
the production of bullion during that
month. To this extent they anticipated
the profits of the mine.
Had it not been for the unusual cir
cumstanees, against which no human
foresight could provide, they would not
have been disappointed.
The epizootic united all the horses
and mules in Eastern Nevada for work,
and oxen had to be substituted in their
place. The roads became almost impass-
able, thereby largely increasing the cost
of transporting ores from the mine to
the mills. In fact this increase amount
II 20 L. fF., oE,aA va h
this greatly increased price paid for
hauling by slow teams, 1t was found i'm
possible TO keep the batteries OF more
than one of our mills running regularly,
thus losing for weeks the production of
one-half of our milling capacity. The
company have taken precautions against
the recurrence OF such embarrassments
by making large advances for freight to
the Nevada Central Railroad, extending
some fifteen miles from the mine to the
mills.
Had the production of ores from the
mines continued as large as the develop
ments apparently warranted one year
ago, the return in the shape of freights
earned by the railroad would have been
greatly augmented.
The railroad is bound to transport our
ores for one-half the amount charged by
teams. When the mine becomes more
productive the benefits arising from
the transportation by the railroad will be
more fully realized, besides relieving the
company from loss and embarrassment
growing out Of the stoppage OF their
mills, i'll consequence of the bad condi-
ton of the roads.
The receipts of bullion during the past
year have decreased considerably, when
compared with the product Of previous
years, while our expenditures have been
unavoidably increased. A material por-
ton of this increased expense has been
incurred in the effort to protect the COM
pany's property from parties who were
struggling to dispossess the company of
large part of their valuable mining
ground. All productive silver mines,
within my knowledge, have been attacked
in the same manner, and their regular
operations disturbed, and much Of their
substance expended in defending THEN
property against fictitious claimants
During the past year the company has
expended large amount III defending
its title, thereby diverting the revenues
of the mine from the stockholders. Be
sides the anxiety as to the result Of this
continuous litigation, it has necessarily
greatly embarrassed the management Of
the company's affairs.
When the suit against US, which was
prosecuted most obstinately, first as.
sumed a formidable aspect, proposition
to compromise was made by our oppo-
neDts, but it was rejected as exorbitant
The case went to trial. and the verdic
nf tho n lUarGa tn this N "
Subsequently n settlement was effected
upon far more reasonable terms, amount
ing to little more than half of the sum a
first demanded.
Involved in this suit was the title tt
1900 feet of the Magnet Mining Com
pany's property, adjoining us on thu
west. That company has agreed to pa,
one-third of the amount expended by thi
Company in ettecting settlement, II
secure this, that company has conveyed
its 1900 feet of mining ground to tn
Raymond & Ely Mining Company. Thi
will explain the items of bills receivabl,
held against the Magnet Mining Com
pany.
In a recent trial before the Court, tn
title to our mining property was full.
sustained and clearly vindicated.
From this time forward we have ever,
reason to believe that no serious ques
ton can arise affecting the title to on
mining property. We feel confident tina
our litigation is substantially at an end
and that henceforth we shall have peace
Heavy and complete hosting work
have been erected at the shaft, with am
pile power to explore the mine to a deptl
of $500 feet.
Our mining operations during the yea
have been confined to the Panaca mine
Nothing has been done on the Burk
mine and the Creole mine, belonging t
the company. No change in these mine
has occurred since the following in tn
last annual report of the Superinten
dent:
In the Burke mine we have sunk tn
main shaft to depth of COO feet on tn
incline. Large quantities of ore of tn
second quality are known to exist in thi
mine. In the Creole mine we have SUM
the main shaft to depth of GIL feet AM
have run several drifts. But little stop
ing has been done in this mine, although
large quantities of ore of very fai
quality have been developed"
Full details of the receipts and dis
bursements Of the company during til
past year may b. found in the report 0
the Secretary, to which | invite your at
tention.
In the very full report of the Superir
tendent may be found statement of a
the operations at the mine, 1t contain
much information upon what the min
promises in the future.
AIPHFus Brill President