Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1876-07-18


SAN FRAscIsco. July ISL ,. ~
A meeting OF the dissatisfied Knicksr'
booker stockholders Is called for to-mor-
row evening.
Several interviews have been held
lately with prominent mining men.
concerning the cause OF the late dsprss'
sion In stocks. and 80 far the majority
say the decline was caused by the giving
ont OF the supply Of ore In the BONANZA;
but one expert has given his
opinion that large quantities Of ore re-
main In the Consolidated Virginia and
California. This IL ]. N. Walker. who
In AN interview. said that both minss
are looking well. with plenty OF pay ore
in sight, besides excellent prospects.
This morning the opinions Of two heavy
operators are printed. @. w. B~onynss.
q member Of the old Board. says that he
Is satisfied that Notwithstanding the Of.
forts OF Flood 4 O'Brisn TO bolster
their stocks, the ore Is fast pstsring out.
as over thirty millions have been taken
out OF the Consolidated Virginia. and
80 far as he could learn NO great efforts
were being made to develop new bodies.
Mr.. Bonyugs said further;
Since the advent OF diamond drills !
don't 90 q cent on advice. These drills
are q most unfortunate invention for the
public. II is one Of those scientific dis
covsries which makes tho rich richer and
the poor poorer. Since their introduce
ton ! have been but q light operator.
for I would rather play against loaded
dice or marked cards. aud have = better
chance Of winning. This 10 = discovery
that has enabled the managers OF q mine
to look away ahead into the ground.
They can drill hundreds Of feet horizon.
tally and thousands in depth. thus sns'
bling them to know when to get out and
when TO get in. Even after . body Of
ore Is reached and they commsncs TO
extract 1t. they can locate the exact po-
sition OF the walls. They can carry on
their excavations mp to and within q foot
OF the walls. and then lsays OF. tho
faces Of the drifts still showing hns
ore. They take your expert and show
q world Of ore at every point. when the
whole mine may be but . shell. These
men must know from these drills what
Is below. and this accounts for their
persistsntly selling for eight months
past; for mind you. with over q million
OF shares IN these two mines, II takes
months to dispose Of ope-ihiri Of them.
Consolidated Virginia cannot now be
selling on her present value. but on her
prospective valns. as the cream OF her
ore has been extracted; and I can't see
how they eau take out q ~ dividend
with the low price OF silver aud the
bullion tax.
In reply To a question; Have you
been able to gain any information satis-
factory to yourself about the lower lev
slsr" he said; "well. I can't say that
I have; but judging from appearances
above and what ! know about the Wine
sunk below the l55O.foot level, I think
they will get ore rich, but In a narrow
vein. but admitting that they get .
body Of ere even afty feet wide on the
i7OO.foot level. what Of ~ Does any
body suppose that II will pay anything
like the present dividend.
N. j. Mcdonald. who 10 rsputsd to
have made an immense fortune, said
that he know ore bad been taken out Of
the California for Consolidated Virginia
account. but twenty feet north Of the
latter company's line. where the
richest quality Of the ore Of the BONANZA
was located. lie said the Wine was
sunk In the California 1873 feet below the
l5OO.foot level, which was In a narrow
streak Of ore, like the small end Of o
funnel. He bal heard that = drift was
run from the l7OO.foot level Of the
ophir into the California without snd.
ing ore. The drift was 100 feet into the
California. and It Is believed. he says.
that The beat part Of the ore in the Cali
forpia has been worked out. and what
remains 10 In strsaks.
In reply TO such statsmsn.s a these.
Mr.. Flood ssys the mines are looking
well. aud denies. Nv toto, each and every
one OF these assertions.
DR.. o'Donnsll's libel suit against the
Clroaiele was dismissed in the City
Criminal Court last week.