The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-11-29
WHAT OBTAINS MR.. SHARON.
ms SUDDEN TNDTFsERENCE no "a
IION.IL POLTTTCs Explained
The Latest strike In RonanxH st"cks-Ophir
sent shswnrd an stopped by block or
porphy-y shnron's isis Hotel Elephant.

Son, sh,,,n,d III, stopped by ~ block OF
rorphyry shnrons His Hotel Elephant.
SAN FRANCISCO, Nov. ls.-Thc Stock Ex-
change, has been tho centre 81 attraction and
excitement since Wednesday Of week before
last, when tho first Trustworthy reports of I'm
important strike in the notorious Ophir MN"
bocalne known tO tho spcoulating public Ihe
stock opened on Wednesday morning ut IT,
and ndyanccdto Il on Thursday i, ros" tor 4
ON Friday morning jumped TO 30 ana rcrcu"d
to % in the afternoon. On Saturday morning il
began at ~ advanced rapidly 90 49, and closed
ut A. Forty thousand shares changed hands
during the first thrco days. and the desire 10
buy shares inthc coming bonanza has not been
parnllcird since tho frenzy %! ia" autumn Of
1874, when Consolidated Virginia old shares
were g9iug up ut the rate Of 800 per day. Faith
in tn new dircoyory in Ophir advanced the
vau" " shares in the adjoining mines ON the
north end of the lode. and once uragod the hopes
NJ stockholders all along the lin II the Conn
stock
The now body II orc - on the 800 foot level Of
me Ophir which ootrosponds in depth with the
l2dU-fucl level If the California. and encouraged
,hchiofthattheo to bodies ofthc California and
Consolidated Nirginia which have not been
prospcctcd lrow the SON foo, levels. would be
found t. ios'cnd To much lower d"Wh5. II this
theory IL truC. those mines are likely To- con-
tribuir another $50 600 900 oi bullion to tn"
worlds stock ot precious metals.
he way fr"m IA Gp to ~ iar ton. tic soi and
silver h"iNs IN about equal prDp portions;
ophir Haa been en-, enc 81 The most hcNiy specn,
gone through many and wdc TIA tuaiom- in
value. shortly before The discovery of the " big
bonnuln" in CUnaolidated Virginia and Califur-
mia. n largo and CONTROLLING int rest in /. shnrrs
was secured from time g. timc hy I.ucky
Baldwin NJ ~ M tC sac per SHARE. In the
bOnan,I cN 'itoment tho shares pose tn 5000
under "norG9us purchases by ii-l1n, sharon
snount..g 10 ncarly t2HNWu ~ vn" trnnsa"-
lion. AMI conceded tho control 81 the min' t.
thu Cau(o,nia Bank crowd. who, prior t. ihn!
lime. lla favored the s,n'h ,nd Mines and
neglected those 1T the north end. l'h-;'n COM
mencc! IN Palace Hotel aloni M same inc
that h. obtained the control - pp'iir. and whom
he was popularity supposed g. b. enormously
strong an wealthy. HIS financial prosp 'ritv
eliminated with his .ntranc" into those heavy
AMI d-i.- q, us -uC' u.i; iuns.
When ~ gambling mania - ii collapsed
nearly Fly p"rccnt. in the market value Il the
bonanza shares. ppnir wont down with tn
selling tor s5u. The bank ui California COLI
laps a un size -6ta Il August. $50. and "a = Il
day thc poeHig,ione and tr.Ml.- of Mr.. El-
Sir,.. ihus" sad and oycntiul day5. Ophir has
yielded M many Thousand tons Vt ere from iis
1910 .iil 100 f,ot l",cl-. IuNuri 81 sivuO-
has l,r, u absorbed hy IT, nanHeel- in mining
and millin@ exp ns,' ir' prtins; X NJ dol
holders. 'nntor sharon II ~lil onr 81 the lead
ing managers IN Onhir and larS, ~ interested
Err'if sara that To pnlacr Ifolel. w!icl he has
hal ,'carry s.noc piision 5 i.a,h. has absorbed
much Of his fortune and. likc thu daughter o!
die horso beech. stii, crics. Give. give
Th.~ Palace is u coius sal monument to Raj
ston'- pluck ambition, and public spirit and a
towering nausuicum under which lies hurled
his reputation Tor ilnanrin ability. sound Iuig-
mcut ana the aafo coudu Z ol fl,iilriary trusts
committed 10 his care i is duult''-s the most
costly. ~ we'll ~ the largest. and, perhaps. the
most c9iullctc hoirl building IA the world and.
W to ih- time has failed a. pay rental ~ on"
per cant, upon ts cost. while It is heavily
mortgugcd At tue rate Il eight yer cent. per an
The sudden risc in Ophir was followed ~ an
alnos' clp,lly rapid ,, dcc NJ, 4 wr@k 9s o
tncy cH"uli no, vail tor Monday. Int .Nt"m.
ported u stock exchange at the Pal'c Hotel.
vhrrc ihoasands Of shares ,,,langrd hands on
hour ali was changed Bad news came down
from the mine, and parties who VIZ" Eager e.
Oh Monday. The sales on TIA, Day were cnni-
mnn-. and W noon the snnr's had illl p 90 w.
cont mud aud sales W, re mad, al ~. Since
then the ntce has stood at s2s"' 40 The cause
Of porphyry on the east sid 81 tho new ore
vein winch last ~ appearing very thin and oi
little valu" MlnlnE experts who hh'e exam
the noyly-ionnd porphyry IL ,l"ta he'd NUS
known ~ mining parianc' - hor-",wit pay
rock hcAind amt around II. ora -plil wall nc-
i"nd Which nothing 81 VAIN = hk"N To, b.
found. The d.sappunimrn' ia pplit has
AM on Friday II declined tp q g. the loves,
pric" ID hns touched since th' dis o'yrl Il n"
People OUTSIDE It the socrt "i tho directory
are rNycl To- know WHY ,nr-n shur,- ~,
steudil, Il timing. ~ ,hrnf pr s"i' l.ri'e. ~,
fH H. aa ~ ~ T." Viii 'nc hitilniI pn,na '
Tho wrrkiy report. from ih" mine '"nililn" ~
TT","..' ,nny lr," =. .i" INK. XII IA.
,snnl.;. magnato~ az doing. "Arih uf
loading up0n tho rrhli' ~ quietly uuN.ns ~
ht. hare W. q - .l- 1