New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1878-09-21
Rndie Mining nistrint

A San Francisco correspondent Of the
Neto York Tines, under date Of Augusf
20, has few words TO say in regard q
the Bodie, California, mines. There axe
one or two of our former citizens now 81
Bodie, and we hope they have got their
share of the strike
The remarkable strike in the B5die
Mine, is an illustration of the results ol
perseverance, for the mine has never been
considered as Of much value and ranked
for years as the widest of wildcats. The
district was once popular, and a great
deal of money was expended in sinking
shafts, building mills that never had any
ore to work but it fell of, people got
tired of paying assessments, and let their
stock be sold, The mines were nearly al
abandoned. The works went to decay
and by virtue of noncompliance with tha
mining laws, which require a eertain
amount Of work to be done annually, the
original locations were forfeited and were
liable to relocation. We see that q suit
has been commenced in the United S sltes
Circuit Court by s. L. n. Barlow and
William Butler Duncan, of your city
against the Bechtel, Tioga and Blgch
Hawk Mining Companies. It is STAYED
that these mines comprise portion of tbst
property of the Empire Gold and Silver
Mining Company, incorporated under they
laws OF New York in 1864 that in 1851
| the company built the Empire Mill at
| Bodie, now called the Syndicate which
cost them about $1,000 and that they
have worked their mines until 1858 they
held possession until that time, when the
property was sold for taxes, which wa
an implied abandonment of the property
They failed to comply with the laws Of the
district which provided way to hold pos
session. Amy claim abandoned over ten
years, as this has been--no steps being
taken in all that Tina to retain ownership
lis open to relocation under the minin
laws, and fear thoss gentlemen
wasting their energies and their money
the effort to regain possession, now tha
under the present ownership and manage
ment the property has become valuable.
We see that some Of the Eastern paper s
complain that bankrupts are ringing in
our old exploded wildcat mining stock as
assets, at high figures, aud denounee the
fraud. Now, there is no knowing what
day these very wildcat stocks may coma
/ to the surface and realize fabulous
amounts.
/ To encourage the effort, however, will
mention that the Bodie boys are to have
dividend tomorrow, and Tioga. Baehtel,
ETC., are selling at the rate Of about q
million for the property certainly worth
trying for, Many Of the locations adioin-
ing the Bodie have been incorporated and
/ put upon the stock boards, and are selling
freely All the way from 81 to s5 per share.
The temptation to buy few hundred
eharac Il ooncidarahi1 x-yho, fl.A,l =. 40
strike rich ore any day and prices advance
q thousand per cent. Thsre are always
| plenty Of people ready to take the chance {
on the gambles II is likely that soma
them may strike It and the one pays 70
all. The shares Of q new incorporation
called the South Bedie, said to be on the
direct line of the original Bodie, was put
upon he market last Saturday, 1t 81 Der
shares on Monday it sold freely at So, and
before the week is over viii probably reach
So, and possibly $40. So we 20.