Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-05-02

Aines To-day.
IL 10 evident TO most Of us that the
stock market 10 more demoralized than
ever to-day. Everybody looks blue. and
finds no relief h. looking at the stock bul-
lstins In front Of the brokeu' Offices.
Brown. Who holds 0vsrmaa At Sis. takes
look and walks away kicking his lever
Jaw before hin. Smith. who vas sold out
Of Justice last week. curses tho whole
stock list and everybody who would b
such . condemned fool - 10 invest In
stocks. Old Jenkins. whs never bought .
share in his life and never will. turns In
dignantiy away from the list. damns his
luck and wonders where In h-ll ve are
all going to-" And they all feel more and
more eIaspsrated ss they ask. "who's
doing thisr' This Last question 10 easily
answered. Everybody Is doing Il. or help
ing TO do 1t. This great depression 10 no
new thing. but other dsprsssions Of = sim
liar sort can easily Be called 10 mind in
the stock and mining history Of The Gem
stock lode. II commenced months ago,
and has constituted no panic. but simply .
gradual and inevitable depression. II 10
tho resultant reaction from . NEST un-
reasonable imitation Of mining stseks
beyond their true merits or values.
During the past three OF four
years, stimulated by tho immensely
BONANZA discoveries Of Gold Hill and vir-
ginia hundreds d new mining claims
have been located. Incorporated and rushed
into the market. Some Of these mines"
were possessed Of . little intrinsic merit
in a small showing Of quartz. but most Of
them depsndsd entirely upon eligible loes-
ton for any stated value at all. And
none Of them were incorporated with
less than si0.OO0.0O capital stock.
which In itsslf constituted . burlesque-
q capital joke. as II we're. People cannot 30
gulsl forever. and the most persistent
and eondding payers Of assessments are
liable to run short Of funds sooner or
later. There WAS not money enough in
America to buy up all thoso stocks At their
par value. Stockholders gradually wesrisd
Of paying assessments, the more especially
when they began to find that the Gin
sidsrs'' or controllers contrivsd 10 dodge
that part Of the business and let the
'' out.iders' do It all; consequently. Ii
WAS merely . matter Of timo when
confidence was all lost. no money
came in At the delinquent sale.
and the pure. unadultsrated wildcats we're
those who would net even pay their prin-
ters bills. We do not class all prospecting
mines as wildcats by any means. but mere
" those which are manipulated and con-
Quoted on wildcat principles. The Nrws
has always bsen the friend Of all honest
prospecting and developing enterprises.
and always expects to be.
With the general loss Of confidence, and
consequently increasing depression. cans
the ,,oppare OF work in one after the other
Of tho outside mines. and the general
death Of wildcat stocks involved the pull
ing down aud slaughter Of really good and
msri,orious stocks. Ye, who shall say that
anne stocks even now are not too high
I, /, evident. too, viewed in . financial
and business light, that some stocks are
really below their true, honest value. New
and good ore Developments are now urgent
Iy called for. and without something Of
mi. Kind n will be hard for the stock
market TO ~reesperats and recover for
some time to come. The BONANZA mines
ars doing finely, not only yi%dins plenty
Of good ore. but havin: plenty OF ore In
sight. Consolidated Virginia comes to
the front again this month With dividend
Of 81 per share. and California pays her
usual dividend OF the same mount AZ
~yregating ~$2.iGo.0oo. OF the few crumbs
Of comfort 10 10 found In the situation
these are the most luscious.
-, a.. .,-,,,,.,.v a, Al. ,im.. and
"si"s
the high price OF iaoor ana e'efy'ninse' VIZ
OF tho leading mining companies are
.....u.., A, ,..,,.. ,hs;r expsnditurs. all
-,
possible. ~ Tor instance tns ieiioS 'seAe''
The salaries Of the oficsrs and employees.
- a.. s...-..,,.r.,., dovn. hsve besp
." a.. -.
reduced. q most OF mo miner
In the old workings have been dis
Inn. reducing the running
expenses to about one-half. Asanuhiis'
however. the new shaft OF the company II
being sunk a. snergetically - pessibls. In
order to open the mine at . more advan-
taeeous point. which will tell we'll In the
working Of the mine . year or Two from
now. The general details OF matters I'M
all along the Comstock, are
given below. and the following telegram
from San Francisco to-day gives the
.tock market situation.
a. r..xct.co. NAY 2.-Thers was q
80 att, In The market this morning
s.sss an.ning. and for a few moments ID
~ sne 70 s,oeLs vere going 10 recover,
~. i, v.s abort. Consolidatsd Virginia
on.,sa I'm the informal session at 81. but
- .all .laHu To IN. CAlifOrnlA opened