Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1877-05-02
oeflcIaL PAPER OF LYON COUNTY.
TERMS:
Early COmstOck Mining.

The San Francisco Bulletin re-
Gently contained a complete review
of mining on this coast, from the
earliest period down to the present
time. The Stock Report summarized
a portion of the article, from which
we extract the following:
The Bulletin traces back mining to
Its earliest days, from the time when
gravel was washed In a pan up to the
present, when vast and expensive
hydraulic system has been establish
ed in the State. Quartz crushing
followed gravel washing. At first
this was done by a small mortar by
hand. Then came five, ten and twen-
ty stamp mills, run by steam. These
outlsys required the concentration of
capital, and led to the formation of
companies. 1t was only after the
commencement Of operations on the
Comstock lode that the manufacture
of quartz mills began to be promi-
nent feature in the iron business of
this city, and led to the organization
of mill company, who controlled
most OF the mills on the Comstock
lode. The mills there now are
controlled by two mill companies.
There are between 40 and so of these
mills dependent on ore from the Com
stock lode. Most of them have from
twenty to sixty stamps, with a capac-
ity for crushing from fifty to five
hundred tons of ore daily At least
two of the mills working on ore from
the California and Con. Virginia
mines have sixty stamps each, aud
are the finest equipped and most ex-
pensive quartz mills erected IN this
country.
The various cras of mimi. are
next glanced at. Little was done up
to 1860, and about that time San
Francisco banker held mortgages on
most of the working claims, and was
afraid at one time that he should be
obliged to take the whole Comstock
lode for debt. Things mended, how
ever, though there have been recur-
ring intervals of depression from
which the mines have invariably re-
covered. In this connection, remarks
the Bulletin, it is interesting to note
how providential the discoveries have
been. First the old Mexican, Ophir
and Gould & Curry mines astonlshed
the world with their riches. Before
the ore bodies in the upper levels of
those mines were exhausted, the
Chollar- Potosi, Hale Il Norcross and
Savage mines came to the front to
pour into the lap OF the world their
riches. Then came the Imperial ,
Kentuck, Crown Point and Yellow
Jacket with their liberal $50 con
sidered at that ume) dividends to
gladden. the hearts of stockholders.
From 1868 to 1870, both years in-
elusive, the mining interest on the
Comstock lode was not of a tlattering
character. The great fire in the
Crown Point, Kentuck and Yellow
Jacket mines on the morning OF
April 7, 1869, was severe blow to
the industry, and many thought the
time had come TO abandon such a
risky business. At that time the
Kentuck and Yellow Jacket mines
were paying dividends. The last
named mine had just declared one
of IS per share for the month, amount
ing to $4,000. The kilograms an
nounciLg the fire in the mine were
quickly followed by others rescind-
lug the dividend. The mine did not
resume dividends until January, 1871
when it paid for eight consecutive
months at the rate of ~ per share for
the first three and $3.50 for the last
five. There has been no dividend
since August, 1871. Tho Kentuck
paid regularly up to March, 1870.
The Chollar- -Potosi and Hale s. Nor
cross were the principal paying Ne
vada mines in 1870, and in the most
OF 1871, the Savage having given out
In June 1869.