Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-09-23

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Latest Official Mining News
asseks : Baaks = Yiaasees- Dssss'
.as-Prsssas Preapeets. and shs
0stlesk NP ihs fatass- The
Aini.E sitaasion To-Day.
The stock market continues about
$50 so." most heavy dealers. as well a.
the cautious ones. evidently being dis
posed to wait Till the regular Stock
Boards resume business. which will ~
In = few days, probably about the iarss
Of the month. II not sooner. The
stringency Of the money market oontin'
uss, na q natural condition TO the pres
cut state Of banking. stock and hnan-
| cial affairs. The San Francisco Ala
says:
Tho preparations for the opening OF
the Bank Of Nevada nre In active pro-
gress 10 commercial business u week
nom next Monday. The Bank OF Gal.
ifornia has not fixed a day. but ofieiai
correspondence. we learn. places the
event at about the LIST. The people arc
very hopeful and sympathetic with the
bank. Money among the commercial
public, We loarn, Is easy. and all pay
nsnts are A. prompt and full a. usual.
From the interior payments are mol
more than customary bshindhapd; Job
bers have always 10 carry more or less
Of q load. The sudden nip In the
money market, caused by recent events,
doubtless, cut of the flow Of funds
and interrupted payment for much
wheat that had been sold at high rates.
The markets are working clear. howsv.
er, and will soon be easy. Many CAPT.
talists could raise funds 10 employ on
second securities at present rates. but
as these are regarded but a. temporary
II IL hardly worth while 10 incur the
trouble and expense Of changing invest
msnts.
Our mines never looked better, gen.
orally speaking. and people generally
are growing more and more buoyant in
tho feeling and ideas In view Of better
times coming shortly. All are waiting
patiently for the good time coming"
Below we civo our regular weekly
summary OF the latest and most correct
mining information, derived from Of
fciai and authentic sources. showing
tho situation Of each mine to-day. up 70
the time Of going to press:
silver city.
This Is an old mine under q new name,
being tho wsll.known old Hope mine, ut
the upper end Of tho town Of Silver
City. re~incorporated and given It's pres.
ent new name In honor Of the town
within whose borders II lies. Tho Hope
mine has yielded its hundreds Of thou.
sands Of dollars in times past, but owing
to the company and management OF IL
getting into financial difficulties some
three years ago, work was suspended
and tho mine has lain idle ever snce,
until recently. Having got into the
possession OF men Of capital and tho re-
quisito energy and ~capability to proper
ly work the mine. its real merits are
now being practically developed. Com
mencing work some two months ago in
the old tunnel Of the mine, they have
driven ahead. following the vein. which
runs Ia q northeastly and southwsstsrly
direction, aud with triumphant success,
having run into q line body OF arst.
class orc from ten 10 fifteen feet wide,
which they are extracting and milling.
with enough orc In sight to last for tbs
next twelve months. The Excelsior
mill (Briggs') Is being u on this
ore. The last cleanup OF 90 tons
si3 to the ton. principally gold.
being only IS cents to the ounce In
The bullion IL worth $40 % per
ounce. During tho past month the
mine has not only paid all It's own ex.
but put $1,000 into the COM
treasury besides, there
fore no assessments are required
Two raises are being mado above tho
level In the fne now ore body
mentioned. u being up l25 and the
other rs feet. The vein dips at an angle
40 degrees. Tho company will soon
begin sinking q first-class thrce-com-
partment working shalt to strike this
ore body. and have only 225 feet to sink
In order 10 do II.
Consolidated virEinia-
Daily yield. COO tons Of orc. The orc
throughout the entire mine are
yielding splondidly. and have not looked
better for the past twelve months than
NJ The present. There Il no prospecting
being done In the mine at the present.
The mills are all kept steadily running,
and the prospects are thnt the yield Tor
the present month will not fall far short
of n, 800, 900. sinking the O. X O.
shaft has been suspended for the past
week, pending the putting In OF the
pumps and starting up Of tho powerful
monster pumping engine. Everything
IL now In complete order, the pump and
engine working with the utmost perfec.
ton, and the sinking will DO resumed
by Saturday next, with no chance Tor
any further deteation whatever. The
hoisting engines are In place. and viii
also soon be in readiness 10 do their
part Of the work.
Caiihraia.
The work on the l550-foot level Is
confined for the present to sinking the
Wine in the ore vein below cross-cut
No. 3. This WINE Is now down GO feet,
the bottom still In ore OF the finest pos
sibls character. This development Is
one Of no little Importance, as 1t Ia 0
the center OF mine and proves the ex-
tent Of the rich ore downward. or at
least the distance Of another level. max
ing = total height and depth Of 400 feet
Of solid ore now prospected the full
Of the claim on the l5OO-foot
and almost the entire length ON the
400 and lG00-foot levels. opening . mine
Of such vast proportions that Il IL only
bowildermsnt to attempt 10 estimate Its
actual value. The erection OF both the
batteries and the matchmaking portion
Of the California mill arc rapidly APP
.proachias completion; and 10 N unfor-
seen circumstance prevents. both will be
10 atari into full oporntion by the |