Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-02-25
LOCAL MINING SUMMARY.
Latest Omcial Mining News


sssehs weak = Miacs Firm = I'm
proved MiniuE Operations
About the mig Bsnansa-Im'
prsvemsst In the Geld Hiii Me-.
tien-The Geaerpl Ostissk all
AIssS the Line.
II il not consoling or at al nsesssarJ
70 state that stocks continue down. The
market is not healthy. although looking
. little batter In some instances than II
was yesterday. Sales are mot extensive.
audit il apparcntthAi buyers arsnot very
confident or desirous. but rather waiting
to see how tho market il going to 60.
preferring to keep IN the safe side.
Such q tumble from high figures natur.
ally incites a feeling Of distrust. and a
disposition to fear or look for lower
prices. even when the "bed.r rock. the
bottom. Is actually reached.
In regard to future dividends IL is q
pretty clear case that neither the Belcher
or Crown Point are liable to declare di-
vidends the first part OF next month. ct
tho usual time. botl having failed in that
respect the first part Of tho present
month. The Consolidated Virginia Ia
now tho only dividend paying mine. and
will declare n dividend on the 9Th OF
next month. but whether IL will pay the
81 per share dividend on tho new shares.
equal to $40 on the old, 30 confidently
stated a fow days ago, Is decidedly prob
leinatical in view Of the fact that the
mine has not yielded nearly as well the
present month as 1t did last month, a.
may DO seen by the figures officially
given in the ensuing report Of to-day.
We are pleased to note the general
disposition all along the Comstock at
tho present time. among the old estab-
lished companies. to combine in sinking
regular working shafts farther east.
This necessity was apparent years ago.
on account Of tho developed prOOlivity Of
tho great lode to dip east at an angle OF
10 degrees. from the surface down to
the lowest depths attained. II has be-
come more and more apparent year after
year. until now the economy and essen.
tial czpediency Of sinking farther east,
avoiding inclines, and making the sur
face descent Of the country more avail
able, and giving a far better opportunity
for attacking the great lode at a practical
working depth is plain TO all sensible
mining men. Acting upon this idea the
Chollar. Hale & Norcross and Savage
Companies have combined In sinking o
hugo working shaft some 1000 feet or
more to the eastward OF their proson!
working shafts. This shaft Is already
commenced. and will cut tho ledge at u
depth Of $500 or 1900 feet from
tho surface. giving facilities for deep
working in each Of those mines not at.
tinablc with their present shafts. Tho
Consolidated Virginia and California
Companies, IS is we'll known, CON.
rnenced n similar shaft iiU0 fec. cast.
some weeks ago. which is already down
over 200 foot. Tho Gould and Curry
and Best and Belcher propose sinking q
shaft of.ihc same description 1900 feet
east Of tho present Curry shaft, md tho
Impsrial.E Umpire shaft being found at
last 10 10 in the wrong place (which 1t
always was) u shaft IN already located
and will 10 shortly commenced In tho
ravine farther east, beyond Fort
Homestoai) very sensible idea,
apparent to most practical mining mon
years ago. The Belcher and Crown
Point companies also propose sinking q
combination shnft away cast Of their
present working shafts, u probably
other companies will follow suit.
These arc all improvements md
movements Of the greatest pos
sible importance In tho future
and permanent development Of the Com
stock lode and the country at large,
The old shafts will not DO done away
with by the new ones. however. but will
he needed, and made use Of In tho work.
ing Of the upper levels after the new
and deeper shafts shall have been com
pletsd and brought into available use,
What will 10 the effect Of the gen-
eral stock watering, or increasing the
number Of shares and capital Of mines,
especially unimportant ones. remains TO
DO seen; but We a hardly think the
result will DO permanently good.
The greatest trouble. apparently,
with tho stock market has been the
flooding Of il with moro stocks than II
could carry or hnd money to represent.
Below we give our regular summary
OF the latest aud most correct mining
information obtainablo
sicsrs Nevada.
Sinking tho new shait is making much
better headway than for The past two
weeks. The how Of water has greatly
decreased, and the rock in the bottom Ia
Of a firmer character. blasting out finely.
Sinking tho old shaft Is also making
steady progress, thoro being no water at
the bottom to interfere in the least with
the progress Of the work. Tho old pros
pecting drifts, on the 700-foot Lowell Of
this shaft, are being rapidly cleaned out,
and put In condition fof future operations,
Tho ore vein ut this point, and that por-
ton OF II lying between the old and new
shafts, on tbs 700-foot level. Ii as yet
almost entirely unprospected, aud some
excellent results may well be looked for
when ross cutting in that portion OF
tho mino shall have been commenced.
There IL nothing new 10 report OF the
prospecting operations on the old
Sierra Nevada tunnel level.
Niagara.
The shaft is now thoroughly timbersd,
49, = =. Al l.u -A...lI. .,asl,,..