Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-01-17

1t 10 perfectly unaecessary fer Us to e.
pa,iaie upon the discourayingly low and
d.bili,aisd state Of the stock market at
the present time. Stocks looked . little
better yesterday. but they are not at all
healthy to-day. I, is useless for Us or
anybody else to try ~ account for this
snwelssms state Of a%fairs. The thing 10
as II Is. There are more rnined men
through stock operations than We have
ever seen before. and stock brokers
have to suffer as we'll a. those vho
deal through them. Margins are . thing
Of the past. The following annual report
" the California Mining Company 10 just
received by telegraph from sAn Francisco.
II gives a most magnificent showing. and
nobody can complain. And 1t is . COED.
square. straightforward. susinsss-liks,
practical. showing, highly encouraging Ter
both the present and the future OF the
C.mstock Lsds and the State Of Nevada;
s,S FR,xcisco, January 1.-THE an
uual meeting Of the California Mining
Company will lie held this Afternson.
Tho s,.ek ErsLasg, prints the report o.
the officers In advance. The Superintsnd-
cut's report saws the mine has yielded dur
Ing the wear ending December 81. 1876.
los 800 ions and /, 500 pounds Of ore. OF
this ore i27 $40 tons and l.2OO pounds
have been reduced. leaving ON .
in the ore houses and at the mills l2Cu
ton. 800 pounds, u the value by assay OF
$4,000. The ore reduced has yisidsd
bullion to tho value Of $i3, iO0.stl ~. BE-
ing 73n per cent. Of tho assay value OF the
ore. Ths vaius Of the gold In this bullion
is SG,lss, GO IS. and that OF the silver
sG.9i2 200 50. The average yield Of tho
ore Def ton is sos OF. Ne work has been
dsue during the year N the 13OO-fost
level. In the iiOO-foot level the drin has
bs,n couuectsL with the Ophir. securing
ventilation. No orc u value has oesn
found in the Northern 80 feet OF this
drift. In the crosscuts and WINES there
h, gool. valuable ore. The body Of ore 10
ON all sides. above AID below. On the
l5OO-foot level much work has been dens.
Tn. full extent Of orc ON this level 10
unknown. The northern and southern
portions, except o few feet at The nerth
.nL. show large bodies Of ore OF great
value. ON the l5j0-fost level . triit
running lsngthwiss in the miaa'e
vein has been extended from tne
south to within a few feet Of the northern
boundary of the mine. all the way In eh-
cellept ore. The erosscuis aud wih.,s
show an ore body larger and more valuable
than above. Between crosseuts Nos. 2AsS
3 a double Wine has been sunk TO adspt,
| Of i2S fee, through an excellent quality v,
ore. A drift from 10 has been startsu
south Ia connsst with the drift that Ia now
being run ON the lG50-foot level from the
Join, shaft u the California AID Consol-
dated Virginia mines. This drift from
The Wine has advanced sixteen feet. and
continues 10 pass through ore ~ the same
good quality az was found in tie
WINE. Another WINE Was sunk from
this level in the Consolidated Virginia
mine ~ the depth Of i27 feet, passing all
the way dows in ore Of great richness.
I'll. Developments made BY these WINES
prove that the ame ore body which ex-
lists on the levels above continues to thsss
lower depths, with increased value to the
ton, and | have no doubt that u 10 VI great
width. ON the 1000 foot level An ore
breast 10 now spsnsd In q sluare Of no by
NJ feet. This breast has not yet been sx-
tended 10 either the east or west
wall Of the lode. The ore developed
BY II 10 Of very fine quality. and Of
much higher grade than that above on the
1900 and i5JO-foet levels. ON this level
the drift runs south in An ore body con-
Meeting with wiazs No. ), sunk from the
level above IL. then continues south and
connects with q deep Wine sunk i3s feet
below the ijj0-fsot level. This drift
passs. all the way through rich ore eI-
cept for a few feet. whore the ere 10 OF
low grade. The time fer ceuvsnisnt and
advantageous working OF these lever
level. will soms when the drift. which is
now bsing run from the California and
Consolidated Virginia shaft on the 1850
foot level. has reached the orc body.
Thi. drift 10 nov IN GiO feet from
that shaft. aud will undoubtedly reach
the vein some time during the present
month. Connection will then be made
from this arifi with the deep wines
spoken Of above, which will give new facil.
tiles for e1traeting ore from these low
or levels. And at the same time
will create additional ventilation for
the nine. This drift would have
bsen into the ledge i've months age had u
not heen for the great influx Of watsr in
tue Consolidated and California shaft,
which la. prolonged the sinking OF the
shaft aud delayed the running OF the drih
and the opening and working Of the
lever levels. The report closes with
the sxp.ctatisn of soon overcoming
all impsdimests which have stood In the
uay OF operations in the mimi and that
the necessary connections will sson b
made for working the lower levels 10 adj
vantage. anticipate from the indica-
lions which are before ne that the work
Of the present year will be crowned
with unparalleled success. Very respect
fully. JAMES q. fAiH, Superintendent.
The Seerctary's report shows cash and
bulliDa on hand. si,3ti,tO 6 81. from
which !. to h. deducted the dividend pay
able Yesterday. the report being made mp
10 the 18th instant. The receipts show an
oyerlra.t ON the Nevada Bank Of sjl9,-
637 ~. The gross product Of the mine Is
given az $4,000, sal 40. The Presidents
report is brief and contains NO items of
interest.
Below We give our regular weekly sum-
mary ~ the latest and most correct mining
information. derived from official and
authentic sources. showing tho situation
Of each mine to-day up to the time Of
going TO press:
NJ work was done in the main south
drift on the i6oo-foot level during the first
par, Of the week ON account Of having TO
put in q larger aud morn powerful air
blower. Work was resumed. however. In
the face u the drift day before yesterday.
On the lsOO+foot level the face Of the west
crssscut 10 s,ill in quartz and low grade
orc. The Lateral drift running south on
til. ore vein Is showing q steady improve
ment. tho ore giving better assays with
every foot advanced.
silver Iliil.
sinking the main incline Is making the
best % progress, considering the hard
character Of the rock encountered and the
tisw % water necessary 10 be handled at
the bottom. The main east drift on the
GjO-foot level Is making the most favorable
progress possible. A crosseut east has
been started from the main north drift ON
the i{tfoot level. The main drift on that
level has reached the Justice line and has
L.. .s.up.l Tar th. prs.nut