Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-05-20
LOCAL MINING SUMMARY.
Tar IL. Wool k.Ai.s Msy %, 1s1s.
Latest Official Mining News

ssr the Week Ksaiss May a. HTS
Latest Official Mining News
The Deciips In 0phir- IL Enscs
Cps. shs stock Market The
Present 0stieek-Cosdisisns 81
ths Mines To-day.
Tho sudden and disastrous decline in
Ophir stock Is tho grand sensation Of
the day at present, affecting. As II does,
all other stocks. and the question Ia a.
to whether the bottom Is reached or not,
although. judging from the slisht ad'
vance or reaction OF to-day. Il probably
has. Some attribute this break In Ophir
To adverse circumstances and Develop
ments In the condition Of the mine.
declaring that upon actual merits, 1t Is
worth no more than III selling at. More
over they cite in support Of this idea.
that although the mine has been report.
cd to have had q portion Of tho great
bonanza for the past year. with plenty
Of rich ore in sight and being extracted
and milled. yet in place Of paying diu-
dends or even being q self-supp0rting
institution. II has just levied an assess
ment. Others again confidently declare
that no attempt has been made to work
tho rich orc bodies already developed
and known to exist. but that they are
hsli in reserve. and this assessment Is
levied merely to assist in concentrating
the stock. which is very much scattered,
most everybody holding a little OF 1t.
Still others account for the decline
in quiet yet mighty contest
for the stock among the great
financial giants. Other themes full
ly NJ absurd are advanced. and no
satisfactory reason is yet given for the
break. II is a well.known fact, how
ever, that many who bought in at high
figures aro still holding. and that many
whose margins should have been swept
away long ago are still being carried. In
the desperate hope Of getting even some
day. Some OF these long.sustainod mar.
gins have had to give way beneath this
last ssvoro pressure. and whom q rise in
ophir docs set in. II will DO upon q bet
ter and more Legitimate foundation than
has hitherto been possible. The ore de-
velopments OF the mine are valuable and
proving more and moro so every day. Its
present price 10 far below its actual
merits. The California Ms we'll As the
Consolidated are both looking splendid
~. and yielding richly. rs usual. All
along the line. from n end Of the
great lode to the other. moro and better
development work is being done than
ever before and moro capital being ef-
teetively employed.
Below We give our regular weekly
summary OF tie latest and most correct
mining information, derived from Of
s.;,l anl authentic sources. showing tho
A..
Si'ua'ioh OF caeh inino 'oa"!' UP "'n0
time OF going to press:
or,,.
-, 30 TIL.
paiiy !'''"' ioo 'onS " o'e'
| orc il being mostly eYtrasted from tho
l4G5.foot Lowell. The orc stones aro nll
-, -. x;.,,;u. a.. rsrol
"A We" "e m,
quantity OF soca ore ihloe mln nio
NJ" iunnus o''"i3 -
ihino anu DINERS VIII ~ nuueu =. ~.
IN no. ,ss.SsJ ths ieoo' loot I.ysi'
and the bottom has boon connected by a
drift with tho prospecting Works al the
;rs ~" sno Insulation Of nuro air. and
Greatly facillitotinc the operations in
,bs, horton of the mine. The north.
sast Vine passed the entire distance
fro,, thc liG5 IN the ICOO. foot level
,hraueh cool milling ore. tho body of ore
Al ,be bottom being over 100 feet in
~;a,b Tho WINS below tho lCOO-foot |
level beinc sunk with The inclination of
no LEDGE. is down 40 feet, the bottom
still in good milling ore. Tho east drifts
from The main sbaft. ON both the 1900
and lGOO.foot levels are being pushed
rapidly ahead, and will soon reach tho
main ledge. Cross.cut No. 8 on the
lTOO.foot level IL being pushed rapidly
ahead toward the orc vein. and 1t In the
intention. In n day or two moro. to start
also cross-cuts Nos. 2 and 4 on the Same
level. The erection OF the new incline
machinery IL making favorable pro-
gross.
Cosmopolitan.
This old mine, situated about . mile
a. Az. NJ silver Citv bns
-,,.;u 49, r.., ,h,.. w..l. .dv,nc.j nm.
A.. ,.,. u,o,,;.,or.h,n and m-.,ao.msnt
;,,o ,o.;,,on anon, ,ho n,oducin, and
paving mines. 1t Keeps the Hope mill
running to Its full cnpacity-reducing
from 20 to % tons OF ore per day. 1t Is
essentially gold ore. the proportion OF
silver being only about ono-nfth. The
vein IL from i've to ten foet wide, run