Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-12-16
LOCAL MINING SUMMARY.
Fer che week Ending nee. ID, 1879.
Latest Official Mining News

LulcSl UlllCldl uAAlAll6 VCWc
The Atoek MARKET - Chances tol
speculation when the his
>RIsc- II Coming what the Low,
or Levels say on the Rubjces-Te.
days View Of the Situation.
The stock market has boon dropping
the last few days md ia especially soil
to-day. The reasons for the decline ars
plenty enough. and the depression. al.
though merely q Temporary one, il easily
accounted for. Stocks generally droop.
under ordinary circumstances. toward
the middle and close Of the month. and
the annual settlements In business Of.
fairs usual to December. diverts both
money md attention to n considera.
Lle extent from stock speculation.
Money is stringent to a certain extent.
not extending 10 the regular channels oil
trade. but moro particularly affecting
stocks. Brokers cannot borrow money
from the banks on stock collatsra's AZ
they coulda year or 10 ago. therefore
they cannot give the margin &C.
eommodation to their customer
that they could then. consequent.
ly transactions are necessary fewer
aud more limited. Reckless speculs-
ton has given place to mora legitimate
transactions, aud purchases are more
frequently made with n view to psrma-
nent aud profitable investment. the
real merit Of "the mines being taken
into more serious consideration than
formerly. This Ia as u should be.
and II Is TO be hoped that
this idea will 10 still better
followed out in the future. The present
market is decidedly unreliable. and in
clined to seesaw up and down-a bro.
kor's market. This condition OF things
will probably continue the balance Of
this month. The recent slight rise In
the market was not as well sustained a.
the actual merits Of the mining sitsa-
ton called for; yet ever this IL
a favorable circumstance for q still
greater rise in January or February.
The resumption Of work In the bonanza
mines. and the rich How Of bullion
theretrom. aided by the renewed and In.
creasing production from the Imperial.
Crown Point, Belcher. Justice and other
mines, together with the good develop
msnts constantly being made at the
lower levels Of the leading prospecting
mines, will all contribute 10 make that o
lively a~ndhsalthy rise whom II does come.
Meanwhile the Bulls and Bears have the
market by turns and the disposition TO
sill at small advances is quite manifest.
Below We give our regular weekly
summary Of the latest and most correct
mining information, derived from Of.
fetal aud authentic sources. showing
tho situation Of each mine to-day up TO
the time Of going to press;
Consolidated virginia.
Both hosting engines arc working 10
perfection, aud the extraction Of orc
was commenced on Monday last. Upon
examination, the shaft was found to 10
in oven better condition than was sup.
posed. aud to-day It Is the expectation
that the extraction Of tho regular quota
Of 900 tons Of ore per day will be 70.
sumsd. The works arc complies In all
their parts; carpenter aud blacksmith
shops, machine shops and ore dumps;
in fact. every department In ready 10 60
into full and complete operation ct the
same time. In another day the mills
will be crushing the rich ores - usual.
and the lower levels Of the mine will
again be yielding up their millions OF
treasure. Comment ON the indomita-
BILE energy and perseverance, that, In tho
face OF floods. storms aud q host Of
other obstacles, has reached In the short
space Of % days, 40 desirable q result,
Is unnecessary. Suffice II TO say, that
the Consolidated Virginia mine 10 again
running; n fact that will gladden. thou.
sands OF hearts. and promises more Of
substantial prosperity TO the people Of
Storey county for tho Winter months 70
come, than any other one thing that
could be written at the present time.
ophIr.
The new hosting engine Is working
s~plsndidly and il kept steadily running
hosting water from the shaft. The
new pumping engine will be ready to
start up in n daw or two more. The in
cline hosting machinery Is being 70.
paired, and will be put in good running
condition at ri early q day as possible.
The last ore.house 10 finished. and the
west ore house for shipping ore BY rail-
road Is very nearly complete. In fact.
all the buildings and outside works are
almost finished. The repairs TO the
shaft are nearly completed, In fact. sv-
erything Ii approaching q condition
that will permit the resumption OF ore
extraction as before the fire. At q meet.
ing OF the stockholders Of the company.
held yesterday in San Francisco. @. l..
Weller. ]. d Fry, A. X. p. Harmon. ].
II. Dickinson. Joseph Sharon. A. p.
Wade and Maurice Dors were elected
Trustees. with Weller. President; Jos.
Marks, Secretary; and Sam. T. Curtis,
superintendent.
Lady washingtoa.
About three feet per day Ii tho pres
ent rate Of progress being made In sink
ing the shalt. Bottom In the same
splendid looking ledge matter reported
last week. with increase Of quartz. No
trouble from water. the very efficient
pumping arrangements disposing OF
what comes In without any difficulty.
The shaft will DO down 70 the 530-foot
level next week, at which point . sta.
ton is TO DO opened for o lsvsl TO 81.
plore the mine at that depth and SEQ
what bonanzas might be there.
Ieviathan.
Crosscut No. 4 from the main north