Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-04-18
MINING

~ - VI iut III CfdCh "
stocks. the mines of Eureka District
are undisturbed, and score an advance
al! along the line. At this particular
time, when capital is timid, and specu.
lators stand aloof, this Is a demonstra.
ton of the faith Of outsiders in our re-
sources, and a matter on which we may
be pardoned a certain amount of self.
congratulation. The key note to this
increased interest is, of course, the won.
derful record of the Eureka CONSOLE
dated mine, its continued productive
ness, and the evidence existing within
its depths of its ~permanence. There is
seemingly as vast and rich ore bodies
in sight and under process of develop.
ment to-day, as when the four furnaces
went into operation last August. Since
that time the three dollar monthly div.
idends have been as regular as the re
curing moons, and the one declared
this week will make a grand total of
81 200 900 that has found it's way into
the pockets of the fortunate sharehold-
ers. One year ago the market price of
the mine was only $500, 900, or a trifie
more han half the amount since dis
bursed in dividends. Beside this sum,
the company have paid out in Eureka
for labor and supplies, over one mil.
lion dollars. The district is unfortu
nate in u respect. The fact that the
Richmond mine, while equally rich,
aud yielding ~ largely as its neighbor,
is owned by English capitalists, de-
prives us of the notoriely that is due
us from that source. 1t is unknown
on California street, only in a agu
way, and its existence was first brought
into notice in that locality by a of
its being defendant in the recent min
ing litigation. Were it listed on the
San Francisco Stock Board, instead of
being a London security, it would d.
vide the ho1ors with the Consolidated,
and enhance the reputation of the Base
Range abroad. In this connection we
dc not wish to be understood as stating
that the mine is of no benefit to Eureka
District. On the contrary, its outlay
for labor and supplies are as heavy as
the Eureka Consolidated, and it con-
tributes over 500 900 per month to
our coin circulation, but the profits 90
to England, and are absorbed by in
ve>tors in the old country, hence we
gain but little outside aid from capital
lists on the strength of its value. En-
glish capital Is very timid, and while
ready To take hold OF anything that
promises immediate returns, does not,
as a rule, aid in developing un%prospect.
ell claims. We regard the recent move
to incorporate the Albion series as one
of the most i'm porlant transactions that
could take place. The lncatoIs are men
familiar with the ground, the pitch OF
the ledge, and the lay of the ore bod
les. They have gained their knowl-
edge by years of work on the hill, and
are sanguine that their main shaft will
develop a paying deposit at q depth of
not over 230 feet. Another substantial
company-ss this undoubtedly will be
Operating west of the Richmond
ground, with every prospect of early
and large returns, not only gives min
ing an impetus in that quarter, but also
attracts additional attention from
abroad, and invites investors to this
section. We might prolong this arti-
Gle to An indefinite length by barely
mentioning the bright prospects of a
dozen mines on the lode. but refrain.
our only intention las to call to our
readers notice the reputation that we
are gaining abroad. aud the probability
that we shall, in the near future, take
rank as the foremost mining centre OH
the Coast.