Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-03-22

pied Masipuiassrs.
from the San francisco Posi-. March 81
II has generally been believed that the
market hinged on the development OF the
ic5o-foot level Of tho Consolidated vir-
ginia. II the prospects there were excel.
leat. and the vast ore chimney VA found
TO extend downwards. widening - lower
levels were opened. better times could 30
expected and higher prospective values
would rule fer the shares Of Comstock
mines which were being worked at great
depths. The community have been thor
oushly imbued with this belief. and hence
ID was that the progress Of the west croes-
cut from the e. 4 G. shaft Wa eagerly
watched by all. For . time the fortunes
and misfortunes OF this drift-ths run
ming from ore to porphyry and from
porphyry 10 ore ag~Sin-s1ertsd Q very
powerful influence ON the condition
o. the stock market. Finally. when work
hal been prosecuted 10 such an extent that
A fair idea Of the discoveries ct this point
could DO obtained. the mine VA thrown
opeu 10 stockholders and mining men.
The i6J0-foot level drift has since been
infinitely examined by at least ifty indi-
yiduals OF more or less experience In tho
working Of mines. Tho formations have
been found 10 DO identical with those on
the upper levels. while tho pitch OF tho
east clay clearly shows that the ore vein
will widen out ON the 1850 and continue 70
widen to even lower depths. There has
not been . damaging word spoken By any
Of the above individuals. While differing
slightly in regard TO measurements. they
are unanimous ON this point. that tho 1850
foot level will 10 richer and yield better
than any VI the levels yet opened In the
mine. John Mackay has officially pro
iictsi q resumption Of the regular divi-
dends In May. and wrotein his last Official
I'VE expect by the fint Of nsxt
month (ApriD TO have the sil noors In
condition to breast out tho amount OF ore
ron ALL REQUIREMENT."
II would seem. therefore. ~ 10 10 univer-
sally conceded even among certain bcars,
that the prospects Of the mines have fully
come up To predictions and expectations;
the public should have every faith
and confidence In It's future. This We BE-
lieve Ia be tho case. But they have neither
faith nor confidence In the market. They
have been educated by experience TO BE-
lieyo that tho daily condition Of the latter
furnishes no criterion Of the actual condi-
ton Of the mines. The fraud and dscop-
ton practieed by stock jobben have put
them ON their guard. Now. IL having |
been demonstrated that tho l65O-foot level
Is a success. there Ia q general disappoint-
that prices do not respond and full.
- Ltnas n,fan ,hs r.-,,t ~ reIi.his
nSa",,.,,,ons p.t vhiis J.siers have
.ana,icn,iv IooleJ for a radical change for |
the better tbsro Ia some unseen force
.ome weight applisJ by the powers behind
tbe -e.nes-that checks and prevents Inn
We had an evidence Of this
after Messrs. Roberts, Goodman. Graves
ana others had reported the results Of their
ln-yesticatious. and a buoyant and rising
market was expected, Such would have
bccn the case, hal II not been for tho re-
,training hands placed upon values by the
lp.ido. In fact tho more cheering the
news il. the worse the market fares from
hi. internal pressure. A few days ago the
Is.t and Daiy .Sfock EreAs-ys first pro-
mulgated the existence Of q new ledge
to tho eastward Of several Virginia
,iaims. which had AN important bearing
IN the future. inasmsch as tho
,o,rxos y,oy MIMI ustrs
/, the Con.olidateI virginia. Best A
p.iehc, GonlJ q Curry. Etc. hal given
,ich .sssys' and A strenr dow Of water
'hst Indicated the reservoir from which
,our,J The fl,ols which now dslu,e Saw
,rr ami Hale 4 Norcross. Az far a the
h concerned. our Information came
li,.c, mi reliabl.. 40 much 40 that we In.
lars.'i N anil Tin hold that Tim, will
- v-..acorr.c, We CAV. everything
hs, H. in onr mower. he resuit Of anal.
IL ~ hain ore AMI water. the Location OF
claim Inv the bon,nza Arm 10 protect
ho:r nronsr,y IN The eastward. and many
convincing proof, that an an east
NV le,lge anal ore vein actually docs exist.
mining men and old Comstock-
ma .n.tain me new. that We published on
sam Curtis. Superintendent Of
he onhir. Mexican. Union Consolidated
.nl Savage mines. has since investigated
mr. theory. and expressed tho opinion
Ina, .omo undiscovered orc bodies ex-
.t,I I'm proximity 10 tho east wall
the Comsiock. and that although there
xould he some porphyry found between
,h.,, auJ ths main vein. they would be