Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-06-06
CROWN POINT.

CROWN POINT.
Aee&aat OF she Annual Me~ttnE -
Triumph sf the JonsS sharss
Tieket.
IRON the y. ". STOCK Report. Juns ST.
The struggle for the control Of the Crown
Point mine was the absorbing topic ON the
street Yesterday afternoon. Long before
the hour 10 the annual meeting groups of
enthused shareholders congregatci about
the entrance to lIayward's building, anx-
iously discussing the situation. Up stairs
. still more interested asscmblago filed
the large Office. The meeting being for
maliy opened. the reading u the annual
reports 81 the President, Colonel Z. l..
Weller. and Superintendent followed. oc-
cupying some timer that 81 the Secretary
on motion b-ing postponed out Of Difference
Ia the wish u the OPPOSING elements IA
enter at one upon the fray. Tho list Of
candidates for the position Of trustees
for the ensuing year embraced two tickets
only. that Of the former management,
known ~ the Jones party. and the opposi-
ton combination 10 the McDonalds,
wilke 4 Co. A considerable pause before
entering upon the real business Of the
day, combined with sundry mysterious
whispering between the persons chiefly in-
tsrested. gave rise to q runior that a COM
promise had been proposed aud adopted.
The calling Of the roll. however, disI-llcd
this idea. As the stock has been greatly
scattered. the proxies for tho most part
rrpresentin, small blocks, progress was
e~rccedingly slow. Yet thu Office was CON-
pletely packed throughout by those who
hal come IN SIC the fun and were deter
mined TO lose no part of the show.
As the voting wcnt ON u became evident
that the contest was closer even than had
been expected. Holders II stock In their
~ name or black proxies were In search
Of the highest bidder and graf excite
msnt prevailed.
TuE krsuLr.
The regular ticket consisted Of Messrs.
]. 4. Jackson. A. X. l.. Harmon. J. ID.
Fry. J. II. Dobinson aud c. l.. Weller.
Tho opposition ticket Of Messrs. y. l..
Wilke. Chas. Mayne. u. II. Minister, u,
A. Hassey and DIR. ". A. Cachot.
All proxies for the regular were held by
J. y. Jackson; fOI the opposition by y. T..
wilke.
Each party protested certain proxies
from time a. time. Al II o'clock In the
evening the final ballot VAS east. In all
%, $50 votes were registered-Jj,CiO Tor
the regular ticket Il. 500 for the opposi-
ton. Something over l2,OOO votes were
objected to 10y the opposition. something
over 1900 by the regulars. The former
gave notice that they would contest the
matter In the courts.
EEpoErs
From the elaborate report OF Colonel
Weller. the President, w extract the fol-
lowing:
lie said: The present year has unfor-
tunately been a fruitless one for this Conn
pany, and during u great portion Of the
time all mining stocks have been greatly
deprecated. no that this Company's man
agencnt has undergone the closest. most
persistent. and. as I think. quite disingen-
nous scrutiny. Tn. result has been allie
CATIONS % mismanagcment totally un-
founded in fact. II was alleged that there
was = discrepancy Of iO.O0O tons of or.
between the report oi the Superintendent
and tho return Of tie Assessor at Virginia.
This Was simply the effect 81 q clerical
error. lie also denied that outside mills
were kept running ON Crown Point
ore. and cited figures Ia prove the fact.
lie declared that no low.grals ore has
been worked that la. run the Company In
debt; but that, On the other hand. they
have made money by working such ORES.
Ncxt came the
surERiNIESDrSr's REPORT,
In which he stated that during the past
- ~A - n V-.ls -. -. l-a.
been run ON the iTO0lfoot level. develops
luz nothing hut low grade ores. asssyins
IRON - Ia - psr ton. The main incline
has been advanced 81 feet. II has been
thoroughly demonstrated that No pay ore
exists ON the l1OLfOot level. and to OIsna
new level. II was deemed last ON the scorc
I osconomy. 10 continue tho incline 10 q
depth 81 two thousand fe,t and there
open . new level. On this level Assistance
of 800 feet, through hard blasting ground.
was run before the vein was struck. At
the time the vein was struck they also
tappesl q strong How IL WATER. ami they
dare not increase this How Of wafer with
their prcsentpumping facilities. The vein,
50 Tar a. exposed, shows quartz Of 4 good
character. giving ASSAYS IL from - Ia -
per ton. PROM the iiOO-foot level 5,lOis
tons 81 ore were extracted. from the 1900
footlevel G,9sG } ). from the 13OO-foot level
$500. from the i5OO-foot level i2j. from
the I6Olfoot level l.l3i .. Most of this
ore WAS of a low grade. which has been ac.
cnmulating during past years aud been
slowed away for futurv working. The shaft
has been retimber,d from the 7OO-foot level
Ia the bottom. The joint pump shaft has
reached q depth " 1850 feet. N 100 feet
Q new level has been started easterly 10 tap
the ledge. lie concluded by saying thai
the mine has never been In q better condi-
ton for the extraction of ore. and all that
Ia needed is that pay ore be found.
In the Secretary's report II was shown
that the receipts o. the Company for the
year were from six assessments, 500.
3ii 50; sale Of bullion. Sa77.5si So;
o~verdrafts. Sl2o,i53 "a; other sources,
si7. 20i &c. Total. s9is,2ji II. The dis
barsemeuis we're; General milling sx-
pen-e-. s3s3. SCI is EhoIe Island mill.
ssj. sss Os; Nevada Mill Company.
SIo0 $50 s5; legal expenses, s5.65l 70
Office expenses In San Francisco, sio.-
go 10; taxes, Ss,i3j %; advertising.
and eNIense ~ the Gold Hill
officc. s2j,5? 10; mine improvement,
81 ,5ss O2. discount on bullion, sJO.o96 90;
and exchange. sii.5iO II; assay
ing. sa.e1s 81; lieleher and Crown Point
joint shaft, sii9.320 81; reclamation Of
bullion AMI freight ON treasure. ss.oij IL;
superintendent talanco on hand, ST.
or IL; overjraft 81 May 1. slO0,Oso -.
Total BIS. 25i Is.
The present liabilities % the Company
are >1i SIC OG. rs against assessments
other than cash ON hand. ~ which there