New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-27
THE BIG BONANZA.
NEVADA SILVER MINES.

YEAR.
frRox A STAFF CORRESPONDENT OF THE TRrBUSEI
VIRGINIA CITY, New, July 31.-The mines In this
city are so marvellous in extent and operation thst
should hesitate give the facts in relation to them
were they not certified by proofs convincing that
doubt is impossible. There is common belief
in the East that there is nothing In
which such gigantic swindling is done a.
in mining stocks, and when the Big Boz
nanza was struck I well remember the In
credulity expressed on all sides. Mining to .
large class Of people means swndling, and IL
is not to find persons who think 1t is only
necessary to dig hole in the ground, organize .
stock company, and begin to sell shares in order
to get rich.
This unfortunately, was too often the case during
the oil excitement in the Venaago district Of Penn
sylvania. Whatever mining may be in other local.
ties il is a supendous reality here, and is carried
on with the Same precision aud business sagacty az
any legitimate manufacturing business in New
England, New-York, or New-Jersey. There is no
pretense and hustle, no pOmpOus mani
fcstatiOn OF wealth, impossible gulf
between the 81 miner and the twenty million capt.
tast. I have been here nearly two weeks, and no
day has passed during that time in which have not
visited the mines, and each day have seen three
men each worth not less than twenty million Of dol
lars going about quietly among the men in the COM
mon GlfD III the iaDOItr, WIFI HotHhS W u'o''h-
guish them from the ordinary mine hand. No dia-
mond studs, no big rings no fashy watch chains, no
broadcloth. One of these gentlemen has spent years
III foreign travel, and has mingled in polite society
in other countries; another who spends most OF his
time in San Francisco rules the market here,
and is to this coast what Commodore YAM
derbt is to New-Yor. tho other is accustomed to
direct hundreds of and employ millions of capi-
tai. Yet these three men, when seen about
their mines, would be taken for foremen or
Overseers. They attend to their legitimate
business as miners and earn handsome DIVE
dcnls for their stockholders. These gentlemen own
q majority of the stock of the Consolidated Virginia.
the California, the Best Il Becher, the Gould a.
Curry the Savage the Hale g. Norcross, the
Utah, the Occidental, aud many small mines.
The greatest mine in tho United States, aud
probably in the world, is the Consolidated Viz
ginia, the mine of the Big Bonanza. The hS-
ures relating to this mine are so enormous that
should not tax the credulity of the reader II had
not examined the books, assessors returns, ship
per's receipts accounts with the Government, and
had the testimony of my own senses in addition to
the official papers.
WEALTHY FIRM.
The Consolidated Virginia is composed OF two
mines-the Sides, 500 feet and the White
& Murphy, 90 feet. in all 10 feet
in length along the lead the width being far as il
exteuds each way, the distance not having yet been
determined as the walls of the mine have not been
found. The two companies named were organized
separately in 1859. They were worked with vary
ing success TIL about 1872. to the depth OF abous
800 feet The stock was the market ut this time,
and four men bought the majority of shares, and tho
mines were consolidated under the name 1t now
bears The four men who bought the controlling III
terest and vet hold it are John W. Mackay, James
~ !.
firm in Virginia City is known as Mackay, Fair &
Co.. ard in San Francisco as Flood & OBren. Al
soon as the consolidation had been effected, arrange
ments were made with the trustees Of the Gould d
Curry Mine to run a drift from the 120O-feet level
of their mine into the Consolidated Virginia. Tho
drift was in length about 1900 feet. Hero
low grade of was found; the VEIN
being Is or 20 feet widc which milled about $lS .
ton A short distance farther, very rich ore was
reached, which milled from 300 to as high as
81 200 q ton, and very soon afterward the miners
broke though thin film Of clay. and found the
bonanza, which is shaped, a. far as known, ike o
pocket or an egg. The bonanzas along the Com
stock Lode which have already been worked out
were found to be of this FORM As the walls of tho
Consolidated Virginia mine have not yet been
reached it is of course impossible to judge of the
shape The ore is however, known to be in body,
and not in a vein. From the timo the body was dis
covered it gradually widened ont on that level-the
12OO-foot-to 90 feet. The ore was followed up to
the 900 foot level but never higher. Each level
100 feet and after the ore has been taken out
and hosted to the top, its place is supplied with
timbers in the form Of bulkheads which pre-
vent the mine from caying in. On the i ,2OO-foot
level the work was continued down to the 800
foot then l, 400. then 800 and finally to 1850
the latter being for air, and also to be on grade
with the other mines.
The stock of the Consolidated Virginia consists OK
1OS, 900 shares, par value 800 each 1t sells
for $40 to 1850 share and pays more dividends
each year than the original par value OF the shares
OF these lOs 900 shares, Mackay, Flood. Fair, and
O'Brien owns $1,000. The California mine has
10000 shares, at 800 par value, now selling at
from $50 to $40. The firm owns $4,000 of these
shares. The Best & Belcher mine has 100000
shares the Gould & Curry, the same number; tho
Savage has 10000; the Hale & Norcross 10000;
tie Utah, 10000; and the Occidental, 10000. Az
before stated, the gentlemen named own the major
ity of the stock of all these mines In addition, they
have niue mills which must be worth several mill
lions Of dollars they own onc-half Of the Virginia
and Gold Hill Water Works, capital $J,00O,OOO.
besides fumes, factories, stocks, real estate, NC.
THE YIELD OF TIE CuNsOIID TED VIRGINIA.
The marvellous richness Of the Consolidated vir.
pinia mine can scarcely be realized. We are 30 ac-
customed in public afairs to speak Of millions OF
dollars with little understanding Of how much
money it is that it has become the custom 10 speak
thus with rs littlc hesitation we speak OF hun
dreis. suppose that great national blessing-the
National debt-has made the sound OF millions
familiar. A million of dollars is more money than
can be counted, dollar by dollar in one week by "a
single individual, and it is therefore imperative in
a..