The sun., 1878-07-21
THE MARVELLOUS BONANZA.
RISE AND FAIL or CALIFORNIA Avn
CONSOLIDATED IIRGINIA,
From n Valuation of $4,000 In 1871 Il.
StO1 100000 In 1878 nnd ~ .OOO, 900 4,
tSss-Enormous Fortunes Won ma -.

From n Valuation Of $40, 900 I'm Is,,
StO1 100000 In 1878 and ~ 900, 900 4.
iess-Encrmous Fortunes Won nnd Lost,
SAN FRANCISCO July 10.-On the dav bo.
fore yesterday tho trustees Of the California md
Consolidated Virginia mines announced to be
shareholders the marvellous ncws that the Cali.
fornia monthly dividends would be reduced
from 81 to 81 per share. and that the dlvidcnds
on Consolidated Virginia would be indefinitely
suspended. The reason given for this last ia.
cision was the nood Of repairs TO the main shaft
involving suspension OF hosting ore from tho
mine butthat excuse was generally received "a
mere subterfuge to prevent panic. and the
opinion Of stock dealers and mining men IA
noarly unanimous that there will be no future
renewal OF dividends upon Consolidated vir.
ginin, and that dividends on California shares
Will ccaso.
.whaievcr ore may be mined hereafter will Ia
~ mo low grade. and oil its proceeds will be- alb.
sOrbcd IN expenses Of mining and milling 40
thnt as igr rs the outside stockholders are con.
cerncd the end has come. The product of theso
Two famous mines marks an crn in quartz min
Ing, Mines in Mexico and Peru may havo
welded larger amount OF bullion in the cen.
yield.
solidnted Virginia was on Oct 1s, 1873 From
that dnte to July q 1873. the shipments amount.
cd 10 $50, igJj32S S5 from Consolidated Virginia
grand total Of $1,000 0s5 Oj. Prom his msa. ~
nlcent product the California has paid twenty
seven diyidends ,gggregating s29O900On and
acRreeating al 0iO 900 Tho product Of theiSa
mines may be divided as s45.0O0.0O0 gold and
California shares have declined 10 $3.50. re-.
duclg the ngErcgnio market vnlue of the mine
TO s6AoO.OOO. and Consolidated Virginia shares
have iall"n to 81 reducing the value of tho mine
To - s6nNOO-a total of II 10000 for tho tWd
mines. These figures compare with the values
~ the stock market at other periods in mo
ie oi this w9nd"riul property..as follows. In
January, 1871. ,$i00l0; IN January. 1875.
il6l 4GuOOp; in May. 1877. $50 O.2i0.OuO: IT. v,
1913. Sll 3iOUjO. In January, 1871 therr w.rG
but lGOO shares in Consolidated Virginia,
which then cmhrncnd thu whole prnper,v.
s2iI,OOO was. in the course Of several succeed.
tng years. t-s 'ssrd up1n these shares nnd rx.
n,ndc.d before production began: In January.
OOD shares IN each mine. The shares oi Com
solidatcd Virginia rosc in the spring of tat
had gone uu tn $500. and hythe middle of Jai ~
airy following adtnuchcd S7l5 per share. it~ ,.ll-
min9ting point They jumped from sl7j m
GA" same month and men aud women who nt
bought 100 ~ the original shares or feet fni >.
held them until they were divided rr,ai, ~
- shares In each mine for ench old -nnrr. .fn1
then sold out on Jan. 2. 1873. for 5000 shnra
California was as high a. Consol liiulol T.
Llniul would have received. for the -3ll in-
vesimont and the - 400 pnid in a--rss m,ni, hs
snug sum Of slllo.ODb. Such eases did do.clr.
and they SIT the town wild. Portcrs and chHm-
hrrmaid- ia hotels who had invested a tow o.. 4.
lars. retired with s2O0IO sjDOn0. anl .luIulD.
u February. 1873, the los uOn shnrr- col t4.i-
igrnin were dylded into 5loDjO shnro- nm m
March, 1876. the shares OF Consolidated .r-
ginia wcr' divided i'm similar rAtio. .
January. 1870. th"ro has been no profit in h..i-
ins the shares OF either mine; thr lr.ut
diAid.nds slnre That date amount -
shares amounts to thu enormous nyrrs-
creIiting h. diyi,irn,l4 "ff AZ, 'i7Sp1 h,s "a
90 lIfa4 flf fH I.al H..