Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-09-21
RICHMOND CONSOLIDATED.
synopsis Of The Proceedings at the
Adjourned Meeting In London,

The adjourned meeting of the share
holders Of the Richmond Consolidated
Mining Company was held in London
on Thursday August 23d, 1877. The
following Is a synopsis of the proceed
ings from the Mining Journal of Au-
gust 18th:
"The Chairman read two kilograms,
q from the Company's eminent
counsel, Messrs. Wren and Wilson,
aud the other from MIR. Probert. The
first announced that the Court has
announced its decision against us.
Sufficient errors to reverse in the Su-
preme Court The telegram from
Mr.. Probert said: Decision against
law and facts. We hold possession
during prosecution of appeal The
Chairman stated that he never had
any hopes of getting a favorable de-
cision in a local court, but as far as he
had studied the case, he could not con-
ceive Of a verdict being given against
them In the Supreme Court. AT any
rate, the decision gave the Richmond
Company the right of appeal to Wash
ington, and the law left the Company
in possession Of the property in the
meantime. In submitting the state
ment of the Compsny's affairs, the
gross product of the mine since it had
come into the possession Of the Rich
moDd Company, was stated as
amounting to 81, 1915 900. OF this sum,
the shareholders had received 1910,
300. Up to data the mine had earned
$4,000 more than its cost. The fuel
question was an important one, aud
when MIR. Probert was sent out he had
impressed upon that gentleman its
prominence, and requested him to re-
duce the cost of smelling. The fur
naces had been altered with q view of
introducing coke The value of coke
to charcoal was as eight to five, and If
they could get coke to the mine
which they were assured that they
could ultimately do ut a cost of S35 per
ton-they could effect a yearly saving
of $200,00 0 in the cost of smelling.
The injunction on their ground had
driven them to making explorations
on the western part of their locations,
and they had developed masses of ore
in spots, where there had been no sur
face indications. This was in new
ground aud was full of promise for
the future. The telegram from Mr..
Probert stated hat the ore above level
No. 4, was rich in quality aud iDcreas-
ing in quality. The Eureka lode was
tending toward the Richmond, and II
1t continued would cross the compro.
mise line. While searching tor the
galena necessary to make the ferru-
ginous ores profitable, the Eureka
Company had secretly run a drift 500
feet, and had got under u Arctic
ground, struck a splendid body of
gslena, and took ont ore to the value
of 500 900. The Richmond had start
ed a drift to run to that very spot. and
ore, had the Eureka Company taken
the course hat they had. The ac-
counts showed that they had cleared
the cost Of the refinery. and $4,000
profits were due tn the success of That
establishment. He believed that ow-
ing to the loss of gold in the Stag, they
had 81 .000, 900 laying in the Stag
dumps"
MIR. George Hopkins stated that the
expenses of the lawsuit amounted to
SIS ,S15. The Chairman said that this
amount was probably doubled before
his time.
The report was unanimously adopted.
Mr.. Hopkins, in presenting Mr.. Pro
bert for reelection as one of the direc.
tors, made the following remarks ~
am very sure hat you will agree with
that at this present moment, after
the anxieties that he has had since the
commencement OF this suit, YOU YIN
pathy with him will be very much APP
preciated. l know that not only for
the last six months, but for a long time
previous, Mr.. Probert has taken the
deepest interest in the welfare of the
company. Many of our friends think
that the working expenses of the com
pany are much higher than they ought
to be. II MIR. Probert were here. he
would be the first to regret that
they were so high, for it has been his
constant endeavor to cut down the
working ex expenses to the minimum.
He has always rejoiced when he could
do anything to lessen them. I only
hope that in his absence it will be your
pleasure to re-elect him unanimously,
and convey to him your expression of
good will and confidence, that under
the difficult circumstances in which he
Is placed, he is doing the best he posi-
bly, can for US, and that he always has
the interest of the company at heart"
Mr.. Probert was re elected unani-
mously.
The Chairman stated that the reason
why Mr.. Cuthbert had been refused
permission TO send out an engineer to
examine the mine:was, at that time the
lode was then working in a direction
that the company feared would take it
over the boundary line.
Mr.. Pullbrook was elected a member
of the Board, and in q few brief re.
marks gave 1t as his opinion, judging
from the kilograms, that the Judges
did not like to give a decision, but ex
press an opinion in favor of the Eureka
Company, and remit the case to the
Court Of Appeal, leaving the mines to
remain al they are.
Chairman John Elliott r~econsidered
his decision IS to resigning his chair
manship.
DIR. Bishop stated that the Supreme
Court ut Washington was two years i'm
arrears Of its work. and great delay
would attend an appeal.
Mr.. w. Cuthbert moved that a COM
mittee consisting of George Hopkins,