Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-08-13
An OLD BONANZA.
Harry AsigEs opens q silver Nine
$50 Yeafs Old.

$50 Years Old.
lrrom The Psoams star and Henid.l
Some months ago the Star and Herald
was made acquainted with an important
contract entered into by Don Enrique
Msiggs with the Government, with the
acquiescsncs OF the Guild OF Miners IN
the Csrro for the proper drainage OF the
submerged mines, the working Of ths
others and the production Of bar silver,
BY the tsrms Of this agreement Mr.,
Msiggs. or the company represented by
| him, which IL the Public Works Com.
pany Of Peru. Of which he IL the Pres.
idsnt. IL obliged TO give 20 per cent. ol
all the metals taken from the mines nov
under water 70 The Guild Of Miners, and
from the others 25 per cent. Of the mel
proceeds every semester to the Govern.
mspt. by the net proceeds Is under
stood the excess whom all working er.
pensss are deducted. and certain com
missions and percentage. This work IL
now being most actively prosecuted.
From the very Plaza Mayor Of the town
the shaft 10 being opened to drain the
mines submerged since the date OF the
war with Spain for independence.
Already specimens OF the ore extracted
have reached Lima. and give o result OF
nsrly 75 marks Of pure silver 10 the
oajsn OF co quintals. which II
MORE THAN ~sArfsFACroaY,
Although a. much as $50 marks has
been extracted from the same quantity
Of ore taken from the viohos mines,
eight leagues distant from Pasco. From
tradition, the official documents relative
70 the former production Of the mines
now being drained, and the opinions Of
the most practical miners OF tho district.
Il n roughly estimated that whom the
waters are drawn OF the company will
have ready for extraction COZ, 000. 900
solss In rich metal. This Ia tho flatter
ing prospect OF the sntsrpriss--a sum
sufacient to pay Peru's debt twice over.
The immediate benefit to be derived
from this achievement would bs the o..
tablishnsnt Of an equilibrium between
exports aud imports. and relieve Us
from the sacrifices now made necessary
by the absence OF such assistance. This
IL not all. The money thus obtained
will be employed In part In the termina.
lion OF the works destined to connect
the Csrro de Pasoo by railway with the
terminus Of the Oroya line.
AN ENGINEERING rYyoRr or LITTLE DIYri.
GUILTY.
When compared with the triumphs over
nature on the famous Oroya. Trans
partation being thus made easy, the rich
mineral section nsar the Cerro would
speedily become populated and produc.
tive. Coal. gold. copper. iron and lead
abound In addition to the wealth Of
silver. and at q comparatively short dis.
lance are the renowned cinnibar mines
Of Huancavslica. II 10 hoped that In
four months from date the frst loads OF
metal from the submerged mines will
arrive In Lima. With the part CORES
ponding to the Government the Treasury
will be greatly assisted. and by the same
means aid given to the multitude who
live upon the State. From the observa.
ton and experience OF practical men
sent 10 California and Nevada with tho
express purpose Of becoming acquainted
with the latest methods Of extracting
or refining silver ore. much Ii expected.
The mines OF the Cerro de Pasco, which
were opened nearly $50 years ago. have.
strange 10 say. be.n worked up TO the
present on the same system employed
AZ that far of nsriol-
Later advices are 10 the effect that
Henry Msisgs has made q proposition
TO the Peruvian Government. 10 either
issue on his own account or allow him
to issue 81. 000. 900 In paper money. IN
payment OF that amount Of bonds held
by him. to relieve lis present necessi.
ties aud enable him to prosecute the
work Of opening the Cerro lie Pasco
mines.