Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-12-01

lsseressing Data gre0 Bsyoaa che
. Dividend 81 Seven nhfllings
saxpenee per shsre.
We are In receipt Of the London
Mining Journal Of November 10th. 1t
brings cheering news regarding the
affairs Of the Richmond Company,
which we're never in so healthy a state
a. now. The ore smelted during the
last quarter was, as is shown by the
result, Of unprecedented high grade,
averaging s70.22 per ION. The direct.
ors have declared q dividend Of seven
shiiiines and sixpence per share, and
send out the assurance that regular
quarterly dividends will be in order in
the future. The shares Of the com.
psny on the 10Th we're quoted in the
London market At 445(9347.50 The
Journal qrotes from the r RI an
nouncing the arrival Of the Commits
sion In Eureka, and stating that they
were satisfied with the situation as far
~ they had gone. The Journal con.
tiuues:
The usual weekly telegram from the
mine at Eureka states the weeks run
to have been $4,000. from 100 tons of
ore, with the third furnace only.
Smelling Richmond ore in part. The
weeks produce Of the refinery was
$4,000. The directors have declared .
dividend Of u. I'd. per share, and have
issued u circular in which they state
the furnaces were shut down on April
30th, In consequence Of the pending
legal proceedings, until September 9Th,
when smelling operations we're com.
menced with W furnaces, which have
been running continuously, the result
being the production of bullion of the
gross value Of $l4S 900. or 297, 900
from $3.50 tons OF ore, being an aver
aye Of $40 ~, or Ella per tou-s result
never Obtaioed NJ the Richmond mine.
Throughout tie greater part Of last
| year the produce was about $40 per |
ton. The bullion now produced weekly |
with two furnaces Is nearly equal to
last years weekly production with
furnaces. There are less ex-
penses and less fuel and labor re-
quired for rich ores. and the profit
will be Tuch greater. The mine re.
ports are Of the most assuring nature, |
and as large quantities of ore rich in
gold and silver, with a large percentage
Of lead, are laid open in undisputed
ground, the Directors anticipate regu
lar quarterly dividends. The refinery
has turned out $2l5,000 OF dore bars
since September IL. Three members
Of the committee appointed At the gen.
eral meeting reached Eureka on Octo-
Der 18th. This morning q telegram
was received. stating that q slight ac-
cident had occurred to the hosting
works, but 1t is added that there is no
Interruption to smelling, and that the
mine is looking we'll. The manager
reports fOctober l6) that the Q stope,
west OF No. /, In the branch of the 400.
is looking well. The ore they ere X
tracing Is Of high grade. The 500 drift
has been started south 10 come under
the ore in the 400. The 500 Wine Is
connected with the 900 main driit. The
assure il still well defined and rsgu-
lar. The furnaces sre doing good
work. and smelling average quantities
Of ore. In the course OF another week
they would start (t Is now started n
other furnace.
A correspondent Of the Journal,
signing himself .Veritas,' gives these
additional particulars regarding the
value of the Richmond stock: Were
il not for law prosecutions, \ damper
to the welfare OF any company, for the
old adage of the oyster and shell will
be ever repeated, the Richmond CON-
pany's shares. with its late incomings,
would be low mt ELS premium on the
95 paid. The highest price they ever
attained to, with very much profits
and far less valuable virgin ground
opened, WAS ZIG. on 45 in full paid;
but tho real net value Was ell premi-
um on 45 paid, the Stock Exchange
'bulls' having succeeded in pushing up
the shares e. premium above the real
nat vulua nj tho sharoso |