Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-01-28
LOCAL MINING SUMMARY.
I.r IL. Week Enains Jansary Is, 1873.

uWsse
FER the Week Endins January -, 1879.
Latest Official Mining News
Mines W.. htoeks-The Lever Levels
Of ssoeks aud Inc Lever Levels
OF the Mines-The Advantage I'm
Favor OF the Mines.
That stocks have taken q grand tumble
since our last weekly report. IL a fact
apparent to everybody concerned. In
fact the decline has been rs rapid and
disastrous ms 1t was unexpected. almost
amounting to a panic. Various are the
causes assigned for the grand break. and
many arc disposed to lay IL oil to
Sharon, but the fact Of the matter lies
in the disposition Of every large holder
to realize when prices are high, and
others following suit until with the
suddenly declining prices produced by
heavy sales comes n general alarm. anu
fear OF a break. inducing a general effort
to stand from under. With tho lower
ing prices comes alarm to those holding
on margins, and the brokers carrying
those margins, and about this time the
rushing in Of these marginal stocks as
sists a still further break. The banks.
too, have been calling in margins
from tho brokers, and for the last
two or three weeks the brokers
have not been inclined to do
business on margins ut all, generally
calling for the full price OF the stock in
making purchases. The large sales re-
ported to-day, simply shows margins
being swept away, and plenty Of stocks
thrown into the market, and that these
stocks are being readily taken at tho low
figures. is indicated by the check in the
farther decline Of prices. The street re-
port this morning WA simply terrible. but
the regular Board quotations showed
a material advance. Everybody breathes
fresr. and tho indications are that the
bottom il touched as far ~ the present
break in stocks il concerned, and that q
rallying advance may be looked for i'm
msdia,sly. Tho mining situation did
not call for this great decline, but on
the contrary has shown constant i'm
provemsnt. The great bonanza shows
no failure in any respect, but better and
better with each foot OF drift penetrat-
ing the ore body. The two northerly
drifts or cross-cuts at the l500-foot level
Of the California are not in far enough
to reach the ore. The Imperial ore de-
yelopmsnt shows better the last day or
two, and the Belcher has improved
enough to not only Withstand the de-
cline in stocks. hut even to show an adj
vance asainst the muddy. rushing cur
rent. Below We give our regular weekly
summary Of the latest and most authsn.
tic mining information obtainablc:
Consolidated yirEinia.
Daily yield, 400 tors OF ore. This ore
is mostly extracted from the 1900 and
liOO.foot levels, although the runnin: OF
cross-cuts and prospecting drifts nOces-
sitatc the extraction Of ONE ore from
the 1900 and l550-foot levels. The ore
breasts both north and south ON the 1900
and lIOO.foot levels are looking well and
Welding splsndidly. The north drift ON
the l5j0-foot level has penetrated tho
California ground a distance OF 40 feet.
the fnco still in the same immensely rich
chnmster o. orc ~ that heretofore de-
scrbsd. The bottom Of tho Wine be-
low the l55O-.oo. Lowell is still in the
riches, possible character Of ore. The
l5OO-foot level is opening up magnil.
Gently at all points. and the prospects OF
the mine never were brighter than Mt
the present, The new mill IL working
spl, ndidly, crushing about $50 tons OF
orc per ..m ..".s,a ..n..;,y
ming up 10 ,he'r Iun Moi ,S
M Bood re'arhs may y, -" III, ~
= meeting OF 'ho s. nc'h 800, !,
San Francisco OF 'ne .,..u a',..
was decided 20 ,"eIyas n uap 10 ooo
10 So''ov',VVo, ."a, s,oo a.ch
snass' VI tue par ~
Ophir.
The orc slopes between inc i'oo anu
ii65-ioot levels as well "s 'hoso ON 'hs
it65-fcot level, are all looking wei" anu
yielding the usual amount OF my
grade ore. n bottom {, ule hor.h
winze, on the i4oo'loo, ae'e'' s,u,. Snn
tinuss IN the nhes, quhl'' -.
Assays from tue oo''e., o"a .u'
last evening gave over $3.50 Pe
the result, sou'nsast .'o gu
the iioo'ioo, 'e'e', passing .n'ousn"
very favorable iotma''on' cu'Nh. oee"'
sional streaks OF low sraue ore, u 'o.m-
alton similar IN aihnos' o'e'y IesPe.' W
that pehstfa'su y! .he eas' cIos,u, III
the Co~nsoiida'ed virginia ii'no vs'vIc
cutting their Immense ren ORC ovu..
aa,,u,s,a5 anJcross.cr,,;,, h.s
ham commeuesI. 40 that some good de.
l - -. st.s