Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-08-27
LOCAL m"IMHa.sUMmARY


~
The stock market ran ahead very
strong and healthy the first Of this
week. but the last day or two prices have
shaded of a little. Mining develop
msnts continue to give their usual very
good showing. and the indications for a
healthy rise in stocks, based uponAreal
mart, are very good for taking place
in October. The great Crown Point
and Belcher ore body has again resumed
its former large yield, and is looking
finely at its lowest levels. Crown Point
will resume its regular 80 dividend next
month, Belcher will pay 81, and Con-
solidated Virginia 80, as usual. From
the San Francisco Ala We extract the
following interesting remarks and prac-
teal ideas:
The ore discovery in tho Empire mine
is very important, as pointing to n fu-
ture for that whole group. There ARE
only 5000 shares Of the Empire, but
100, 900 OF the Imperial /; the former.
therefore, sells for $500 0 and the
latter for $500. 900. but the ore for the
present is in tho Empire. A very srro-
neous notion was expressed some time
since by u weekly paper in relation to
what was called watering stocks"
This is a very Objectionable process,
well known at the East, but has no ap-
plication to mining stocks here. There
have. in point Of fact, been no mining
stocks "watered." 4 good many min
ing stocks have had their shares Of large
denominations changed for shares Of
lower denomination. But that is no
more watering" than to charge u
ten-dollar note into ten one-dollar bills.
For instance. il was said the Crown
Point stock was "watered.' That cap
ital consisted OF la,COo shares, which
were selling at $500 sach. making a
value Of 81. 6i2, 900. Each share was
handed in and eight and two-third
new shares were given for it, making
an aggregate Of 10000, selling ut
S2lG II, or S2l. GLE, 900. for the mine.
A share Of 81, 800 was simply changed
for eight Of S2lG each. There was no
increase OF value upon the market what
ever. When u railroad stock is ''water-
ed an additional number OF shares OF
the same denomination as the old Is put
upon the market, making a larger sum
Of money represent the same property.
Thus, a railroad 100 miles long, earning
3 per cent dividends on SOC, 900 shares
worth in the market $50 each, making
S25, 200, 900. may have 100, 900 shares
more issued for any purpose. This
supply may knock tho market price to
say $40, and the dividends 10 81. Such
a stock would be ''watsred' to the in.
Jury Of the old stockholders, and the
company would get -, 600, 900 by sales
Of the new stock. Bu. nothing Of this
kind has occurred in mining stocks; no
company has received money by chang
ing its shares.
Below We give what We know about
tho mines:
Beichor.
Daily yield, $50 tons OF ore. The
mine is looking .plendidly throughout.
The ore breasts ON the 1900, 1900 and
lOOo-foot levels are all yielding richly,
md there is a decided increase IN the
percentage Oh s0'ui IN ING o'' "'
largely mer,a.'ng 'hs se.u'n .i.nn Wv
nna...,s Of H. nina Tor m. nrss,nt
month will amount TO nearly. il not
on;,o , ,nillion Of jollars. The ina.
ch;nsrv i. a,sin ali in splendid working
condition. as are also all the working
dyifts on IN. lower ieysl., many neces.
sary rspairs having bsen made in the
mat Tow weeks. Sinking the new air
.h.t, !, bsinc prcs,cd with all the yicor
no..;hIe ss 4, also the upraise from the
s5n.foo, level 10 meet H.. IL ia expected
,hn, ,hs two will be connected in about
,.n J,ys' fine. when ths mine will be
,ho,ou,blv ventilated and cooled, al
,hor.,, o.;n, 40 The cool weather of the
ns., faw days n n much more pleasant
rnrl;ng an The lower levels than il has
hsan Tor tbs mast two months. The
ILL are sil running up to their full
crusbinp capacity, and everything is
ioolipc aatterinc for a good Fall run.
weeSyIIe.
Tho ore development in the north
drift on the 2OO.foot level still continues
IN mo, only hold out. but shows q steady
;murovemsut in the quality of the ore.
,,r...u.,,, ,;,,,. 5.,,,, ,h., . v,l-
ineis 'e'n' Va y"
liable n permanent deveiopmen. S
ore hes been made IN an amos entirely
new and ont niue prospeo,eu portion OF
the mine. I'M, Is NOT ohiy eAesea'hEly
grahiying % inc VI VIZ.
Wo3d',iie. Out rs "a srsn, ena
70 the justice, 'n's' in a"u o u "a
joining mines q sp,e," ne
inc s~'oeknoiuers .tIieu W u"Ao p'".e
on the zotp Jay 0 /. osP'eIger hea. W
take into eonsiuera,ion w uee'ue upon
q propositioh To increase 'he caP,'hi
STOCK OF ,he company ,iosn TWO ~ ann
oisn' nunIiea ',ousan. uou. .S
ooo), divided INTO lwsnly.s'sn uhou.sna
shares OIL tue par Naiue VI on. .u
ue'iais esyn, 'hs 1sc ma oao, III
vided into sixty thousand shares, Of the /