Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1877-01-13
THE con. VIRGINIA.

The report Of the Superintendent
for the Con. Virginia Mining Com
.pany, submitted at the annual meet
ing held in San Francisco on Thurs
day, is in the main complete, con-
else and satisfactory. 1t exhibits ex-
actIy the condition Of all the levels
in which public interest has lately
been so concentrated. Mr.. Fair, the
Superintendent, tells some things thst
should not only cheer the hearts of
holders of the shares, but which
should serve to check the general
downward tendency Of the market as
whole. The mine, according his re-
port, has in all likelihood more in it
vet to be extracted than has been Ia
ken out. The reason why the yield
was stopped is clearly shown The
infowing of water, the great detri-
ment to mining on the Cornstock,
was mainly the cause Mr.. Fair
closes his report with the expressi u
of belief that the present year will
'.be one of great prosperity" to the
mine. This il somewhat ambiguous.
Prosperity is not good wcrd TO use
In that connection. Had Mr.. Fair
said that in his opinion the present
year would witness the removal of
the difficulties n0w attending the
profitable working of the mine and
tina; large bullion yield would be
the result, the public would have
better understood him.
The question suggests itself to the
reader why the managers did not lay
these facts before the public some
time ago and save vast depreciation
ia the price of the stuck and the con-
seouent ruia of hundreds Of the share
holders. Mr.. Dewey, at the meeting,
raised this point, when Mr.. Flood at
tempted a defense By replying that
the Management did not know the
condition of the mine three days
ahead. Mr.. Mackey supported the
same assertion. This may be the
truth, but experienced miners will
pause TO consider before they accept
it as valid and iBdisputable. To say
that the managers did not know three
weeks ago nearly as much about Con.
Virginia as they DO now, quite as
much, in fact, for all purposes of
speculation, lie to imply changes IN
derground more rapid than they have
ever occurred. And it would he i'm
portant to inquire whether the dia-
mond drill hal not been used to fore
stall actual developments. But the
report Of the Superintendent is so
complete and explicit on all weighty
points that the only regret attending
its perusai is that it was not presented
TO shareholders in time to avoid the
recent decline.
We observe that, as result Of re-
cent structures on the managers, it
has been determined to keep on exhi-
bition in the Office of the company a
record of expenditures and receipts,
complete, for the inspection of stock
holders.
The report of the President j.
fraught with considerable informa.
ton. The leading point in it to
strike the reader with wonderment i:
the total amount Of the dividends
&27, 100000. This sum Of money tc
be taken from a single Comstock
mine, over and above expenses, il
sufficient to stimulate mining fol
years and years in the same region
even though scarcely any ore In othel
places be found. No panic or com
bination Of bears can keep the public
permanently out Of investments tina
hold out possibility of such raturns
All we want on the Comstock is I
fair deal. With that our prosperit!
is assured, and depressions like tn,
present one both here and in Cal;torni,
would be unknown. We neither wan
abnormal rises nor unwarranted de
clines. We want simply steady an'
honest pursuit Of mining. and it i
gratifying to know that the Legisla
ture are taking the same view of ii
SrEwARr has introduced bill il
the House to provide for the incor
porstion Of mining companies il
Ahs~ 4t.S.