Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1878-11-20
THE COMSTOCK.
Latest Official Mining News.
For the Week Ending wednesday,
November 20, 1878.

November ~, 1913.
a Fearful and Most Calamitous
stock Crash-As Unprecedented
Bremk, A~pparently without =
Cause.-The Crss.eus % she aioO
aud 1900 Levels OF b sierra
nevada On Rich Ore-Dossns OF
Expert. aud Misiss N~s Ad.
mitt~d tn the Nine. asd sii Agree
rms the Mine u MI itis Rich
Ore struck la the Nsrth n.sHnsa
The Progress OF Tue Develop.
meats sa D. Co,nstoek To -
At the commencement Of the week
stocks opened firm. with u strong. hope
full market. Sierra Nevada selling readily
al $500, Mexican al SIS and Ophir at
sec. To-day Sierra Nevada closed at
$50 in the morning board. but
rallied again this afternoon to $50.
During the past three days the
fluctuations have been OF the most vio-
lent and fearful character. Sierra
Nevada, which appeared 10 be the con-
trolling spirit OF the market. droppedin
a day from 5000 to s90-then rallying
asrcsly back to sii5. and dropping as
suddenly again to 500.
This break has. as a matter OF course.
carried with it. to u greater or less ex-
tent. the stock Of every mine ON the
Comstock. depreciating the whole to the
extent Of tens Of millions Of dollars. To
a,temp, at this time to give q eau for
this fearful panic in which thousands OF
both the rich and poor Of the coast have
seen their all swept to utter destfuc.
ton without the power to aid or help
themselves. would DO utterly futile.
In the mine the best experts and mining
Judges Of the Comstock have critically
and carefully searched In vain for
some sign OF doubt or failure. All
agree without a dissenting voice
in the ore prospects. so far as
developed on the 200 and 2i00 levels
being all that could be expected, and as
dne a prospect as was ever opened ON
the Comstock.
Equally vain would 1t DO for us
to attempt a description Of the deep
seated agony depicted in the pale.
woe-stricksn faces OF the crowds Of men
and women who have gathered around
the bulletins from day to day. and
watched tho hard earnings Of years OF
savings and toll go like the drifting
sands beneath their feet, or the
melting SHOWS in a torrid sun.
Tongue cannot describe the ruin. the
havoc, the utter destruction wrought by
a crash that has fallen like a thunder.
bolt from u clear sky. taking all who
hal risked anything OH a margin Of
even the most careful nature at such u
disadvantage that there was no such
thing as safety or time to prepare 10
meet it.
Outside OF the Sierra Nevada no de-
velopmenis OF much value have been
made. except a steady and valuable im.
proyement in the southeast crosscut in
the North Bonanza mine. In that DRIFT
the ore il now not only free milling. but
assays high up into the hundreds.
The water in the flooded mines stands
much the same az at last report-in the
Savage about 20 feet on the in
cline above the alOO level, which
condition Of affairs will not nov
10 probably much changed before the
drift on tho 1000 levels OF those mines
il connected with the Combination shaft
and the water thus finds an outlet
through the Sutro Tunnel.
In all the other mines work Is pro-
crossing as usual, except on the 100
and 1850 levels OF the Consolidated vir'
ginia, where the men were all discharged
a week ago. and where no work. except
repairs and enlargins the air openings,
isnow being done.
Below we give our regular weekly
summary OF the latest and most correct
mining information. derived from Of
fetal and authentic sources. showing
the situation Of each mino to-day up to
the time Of going to press:
sierra Nevada.
This mine has been the center OF an
intense mining excitement for the past
week. the stock OF which was selling
readily and appeared stiff at $500 per
share suddenly breaking from that price
down to 500. then rallying with violent
fluctuations to sii5 and again breaking.
and closing weak in this mornings
board at S65 per share. :
At the mine work has progressed
steadily and without a change Of any
kind whatever. At tho 2200 level the
station has been completed and two
drifts started. one In q northerly and the
other in a southerly course. The south
drift has been gradually curved to the
westward until at a distance Of % feet
west Of the station il has cut into the
ore vein at very nearly right angles to
its course. Up to this morning at q
O'Clock the bottom OF the drift had pen.
etrated the ore vein a distance Of 1h
feet. the whole face being in ore.
The ore at the top Of the face Of the
DRIFT mex: to the cap rock assays Si5 to
SIS per ton. and then gradually in
creases in richness until the last three
feet at the bottom averages from 500
to $500 and 5000 per ton, and will
probably mill $50 to 5000 per ton.
What lies beyond that no N can tell.
hut this much can not only be attested
by the writer Of this article. but by
dozens Of the best experts and judges
Of orc on the Comstock. who have WIS.,
tied the mine since yesterday morning.
At the 2i0O level the west crosscut has
penetrated the cap.roek and Is just On.
tering the ore vein with every prospect
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