Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-03-20
STOCKS AND MINES.

STOCKS AND MiNES-
The stock market for the week closes
n, a gratifying advance over the low
prices quoted yesterday. ye; at rather of
"a decline from the first quotations for
the week. Some descriptions OF stocks
to-day show q considerable number Of
shares changing hands, but, generally
speaking. the sales arc rather light.
Stripgency in the money market is as
signed for the present low prices. To
which We may add the continued lack Of
confidence ON the part Of "outside
dealers : they seem 10 regard stock spec
ulation under the present circumstances
a. simply gambling. and prefer to see
some chance for winning before they in
vest their coin. Those who lost every
thing in the recent disastrous tumbl. o!
stocks. have no money to invest. while
those who managed to SAVE a little from
IA. wreck, remember well TIE ssvcroles-
son they received, which cost them 30
dearly. and feel extremely cautious about
risking their all again in a similar ven.
ture. "a burnt child breads tho fire."
In due time. however. money matters
will become easier. and even IL there ara
no new ore deposits found, tho contin-
ued Increase and improvement in pres
snt developments will induce a rise in
the stock market. aided by returning
confidence aud rocuperated purses. We
have but little in the way % new fea-
lures to make mention OF IN the leading
mines. since our regular weekly mining
summary OF Thursday. The more the
great bonanza IL explored by the various
drifts, cross-cuts and wines. the richer
it is shown to be. The cross-eut,
east, in the Europa. from tho Wine
below the adit level. IN just cIt-
ting into tho main ledge, tho
face Of the drift being In i,ne looking
quartz giving good assays. In the JUS
tee the work at the $40 AMI iO0-foot
levels Ia fast nearing important develop
ments in the way OF rich orc. and the
Wine below the 3OO.foot level OF the
wcodville. IL nov sinking in ore Of a
much richer character than heretofore,
showing not only rich In black sulphur
stz, but also in native silver. In both
the Silver City and American Flat sec
tons, mining development operations
arc being more extensively projected and
conducted than ever before. Indeed,
work all along tho mining range is going
ahead l%ivolier than ever. and the very
energetic and effective prospecting being
done at the present tlno must certainly
bo productive Of rich results before long.
Relative 10 the present financial strin-
cepcy. ami its effect upon the stock
market. the San Francisco 4hi says:
The stock markc. having been affected
by the tightness Of the money market IN
now under q scare on account Of the
price Of gold in New York. The Bears
have made active use Of that fact 10 do
press tho market. No usual. latter the in
iiuencs Of the price OF gold in New York
upon the market there has passed away.
II gold should 60 to 200 1t would now
have mo- further effect upon this market
since all the gold that the spectators
can get has gone. There Is always n
practical limit to their operations.
When the foreign houses have called. in
gold, all the loans they had out, and
put up their collatcrals for all they can
borrow. the movement comes to m ond;
they have exhausted their means. At
this moment San Francisco owes moth
ing. Her merchants have paid up at
the rise which has taken place, somo
have even made advance payments, and
there is no more to be sent The next
move Is to bring back the surplus. Thus.
m compared with last year, the ship
ments TO Now York are. since Janu-
AIRY |: 1874. sl.623.503. 1876. STAB
Az. Excess over last year, $5,1?5.92i.
This embraces all debts paid mp and
foreign capital Withdrawn to lend in
Wall street at n@t per cent. per day.
II is nov gone. and II 1t does not como
back will not be- regretted. IL IL always
n source 81 disturbance. and California
capital Is growing fss, enough to supply
local wants permanently aud steadily.
Thus. in round numbers. six million,
which We have paid M since January !
il about all that can 10 drawn, and
whether gold goes TO 200 or 900 will
make little difference. The Mint and
local causes are now actively at work
filing the void. aud the supply will o o
be as great as ever: greater. for the Tact
that much having been paid up in AL
vance less remains 10 bo met in the iu-
ture. The Bear party in the Stock
market are not the less active, however,
and in Mortified tones 10 gasp
ing listeners, ''Gold il lGnr' NJ II that
meant that bullion is worthless and
the bonanza melted into thin air.
The state 81 affairs here in money
matters IL n result OF the use OF paper
money at the East in violation OF the
provisions OF the Federal Constitution.
The United States. after ten years OF
peace. have persisted in keeping up a
iiuctuating currency. at variance with
the rest Of the world. and II ID q sourcc
Of mischief 10 herself. and Of annoy
ancc TO all those who deal with her. On
this continent. Canada ON the north. the
Pacific States ON tho west, Texas on the
southwest, Mexico and the West Indies
ON the south. encirclo her with n spe-
clio cnrrcncy, and all her dealings with
IL all~,r