Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-07-23
MINING SUMMARY.


Bsr the Week Rsaiss Juiy -, 1874.
We hardly know what to say Of stocks
at the present time. The market con-
tinues to iuctuate. but principally with
q downward tendency. Belchcr has the
worst Of 1t; the bears have II down and
jubilantly sit upon 1t. What caused it
to tumble is a very interesting question
or mystery which nobody seems able to
solve satisfactorily. and there are various
theories advanced therefor. Some say
that the ore body is pinching out, yet
this same assertion was made q little
over a year ago, since which time it has
paid many n five dollar dividend. On
tho other hand. those who should know
declare unequivocally that there is moth
ing in tho looks Of the mine to justify
this depression Of the stock. The most
sensible theory lies in the possible de-
crease OF the amount Of the monthly
dividend to three dollars per share ; u
few days. however. will show how cor
rect this idea is. Crown Point is lower
than ii has been for two years, and all
stocks are influenced and share In tho
general depression.
Tho bears are masters OF the situation
and whenever they see a stock raise its
head they summarily and pugilisticslly
knock il down. The rumored strike or
improvement in the Savage does not
seem to improve the price Of the stock.
neither does the continued good devel-
opments south from the Imperial and
Empire shaft, have n sensibly elevating
influence. Now certainly is q good time
to invest and wait for q rise, for there
certainly never was q time when the
mining situation was more favorable for
good ore and bullion yield, and a conse-
quent advance in prices than at present.
The old ore bodies already developed in
the Bslcher. Crown Poiut and Consol-
idated Virginia. ETC., are holding out
we'll. The Crown Point mine is shut
down for n few days, in order to get the
immensely heavy AMI powerful new
hosting machinery into working trim;
new and effective additions have
also boon made to the Belcher
machinery, and both mines will
very shortly have better works and be
better prepared for a heavily increased
yield than ever before. A very import
ant movement is also going forward in
tho Virginia section CT the Comstock.
The controlling powers OF oil the lead
ing mines have combined to open and
connect the 2000-foot level by means
OF n large tunnel or drift
which shall extend through all
the mines, from the ophir to the Chol-
lar. and perhaps further. This tunnel
is already being worked both north and
south from the 2OOO-foot level OF the
Savage shaft. and north from the Hale
& Norcross. The Gould x Curry will
soon be down to that level, and will also
connect ; and as fast rs the other shafts
reach the same level other additions to
the tunnel will be made, until 1t is con-
throughout itI entire length.
tunnel will be Of the
importance in the ventilation,
drainage, and general development
Of all the mines, and being 25O feet be-
low the level Of the proposed Sutro tun-
mel, will practically throw that useless
md obsolete institution far into the
shade. Below We give what we know
about the mines:
Consolidated Virginia.
Daily yield 900 tons Of ore: The ore
on the l3OO-foot level are still
well and yielding splendidly.
no signs whatever Of = dimina-
lion in the amount Of ore being eI-
tracted from that portion Of the mine.
The north winzo from the 1900 to the
level has boen enlarged to 40
feet square. greatly increasing the ven.
OF the mine. cooling the face OF
the ore breasts, and facilitating the pro-
Of the developments OF the lower
Sinking the north Wine No. 2,
from the 1900 to connect with the 400
foot level is making good Roadway the
bottom still In ore. Sinking the north
winzo from the li00-foot level to con-
meet with the south drift on the 1900
foot level Is also making good Roadway.
Driving the main south drift on the
l5O0-foot level is making rapid Roadway
following the west wall Of the ledge, the
heat in this drift Is necessarily great, and
N a matter Of course causes slower pro-
gress than would otherwise DO made.
Grading and other preparations for the
OF the new 60 stamp mill goes