The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1877-07-21
HISTORY ONCE FAMOUS MINE

The old Eureka mine, ut Grass Valley,
which has made such splendid record
for itself as bullion producer, and div
idend payer, for long period of years,
has been permanently closed, show
ing that all things. no matter how good,
must have All end The mine has been
famous. not only for its profitable work
ing, but for the good and honest manage
ment under which it has been conducted.
Mr.. William Watt has been Superin-
tendent for the past twelve years.
According to the last annual report,
the receipts and disbursements of the
company, from the date of its going into
operation, October 1st 1865, to Septem-
Der 3Oth, 1876, were rs follows: The
total receipts were 81, ,529, 254; the dlv-
dends paid were $2,094,000; milling
and mining expenses. ,923, ,Sl2. The
Union in speaking of the mine. says:
"a month or mora ago u dividend of
$40, 900 was declared, making total of
S2,094 900 paid out for dividends by this
company. The amount token out OF the
mine must be something over IS, 900, =
900. The Idaho, which adjoins the Eu.
reka on the east, has taken ont almost
as much, and is still paying magnificent
ly. having pay ore in the lowest depth
yet attained i 900 feet. The two mines
as far as worked, have furnished the
world about $9,000,000 worth of gold.
The Eureka worked out the pay
chute at about the depth of 700 feet
The pay went into the Idaho company's s
ground, and shows every sign of going
down to an indefinite depth.
THE Eureka has never levied an as
sesment. aud its last act will be to de-
clare dividend. This dividend will be
in the neighborhood of 100000 Old
Ajax will quit business in business
way; and will leave record of faithful
and efficient management, of which all
Grass Valley is proud"
A short history of the famous property
will be interesting. Taken from i" Bean 3
Directory of Nevada" Eureka hill,
through which the Eureka vein runs, is
about one mile and one-quarter from
Grass Valley. 1t was originally known as
Eureka mountain, the irst location being
made February 7th, 1851. The Eureka,
which. as far as developed. has proved
itself the richest gold mine in the world,
ID among the earliest quartz locations in
the township. but its richness. notwith-
standing it had been worked by various
parties for number of years, was fully
developed until the winter of 1868.
The mine was owned at various times by
D. L. Lamarque. Geo. D. Roberts and
William Chollar, who failed to find it
profitable; Lamarqus, who bad pur-
chased the interests of the other part
ners, finally selling the mine in 1867 to
Fricot, Ripert & Pralus, for compara-
lively small sum. During the years
from 1857 to 1868. the ledge was worked
to perpendicular depth Of 4S feet, and
during this period large quantities OF
quartz, none of which paid largely, were
taken out, while the greater portion oi
the rock failed to pay crushing expenses
Becoming satisfied at last that the ledge
was really good one. Fricot e Co. com
menced sinking a vertical shaft in 1868
completing it to depth OF 100 feet in
!S6l. The vein at this depth was very
large and we'll defined, showing an ex
cellens quality of quartz. The company
IN sinking this shaft took out sufficien
money to pay the expenses of erecting
hosting works. building the presen
magnificent mill, all at an expense o
over $50, 900, besides giving numerous
handsome dividends to the three part.
hers. From 1868 up to the sale OF tn
mine in the fall of 1865. the Eureka con
tlnued to pay largely, but the figures W.
have not been able to obtain"