Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-11-21

Condition - the sierra Nevada
Mine ON Tuesday.

Condition - she sierra Nevada
Mine ON Tuesday.
The Virginia Chronicle Of Tuesday even
ing has the following regarding the condi-
| time:
The excitement Of yesterday around the
brokers' offices on G street was repeated
to-day. Men blockaded G streets side
walks and discussed the situation with
downcast faces. At the outset this morn
ing it was supposed that the good news
from the Sierra Nevada would have the eff
feet Of staying the downward tendency Of
the market; and as the news came over the
wires announcing the glad tidings to many
a poor fellow ON the verge OF bankruptcy
that the stock had jumped to 140 from log
last evening, dependency gave way to re-
newed hope, aud bets were freely offered
that Sierra would go to IFS before the close
Of the day. At noon, however, when the
stock touched 100, and when Union fell to
20. despair and disappointment seemed to
hang in the murky clouds above Mount
Davidson.
NINE.
About half-past s o'clock this morning,
fifteen or twenty gentlemen, including
Frank Osbiston, Hank Smith, Charley
Forman and Mr.. Sharon (the assayer),
went down into the Sierra Nevada, by in.
vitation Of Mr.. Skae, and returned. bring
ing with them specimens Of rich ore from
the face Of the 2200-crosscut. About 8
o'clock . Chronicle" reporter found Mr..
Osbiston at breakfast at the French
DxL.o~ ,a N otroot onI npaak~l,
proceeded to interview him. In response
to questions put by tho reporter, Mr..
| Osbiston said:
All l have to say shout the mine il that
| I have been down to the 2200-crosscut. and
/ found the face of it in very rich orc. I
| never saw the mine look SO well as it does
now. The lower part Of the crosscut-two-
| thirds Of it's ia rich ore, and tho upper
one-third has just passed through the cap
| rock, and is in ore not quite SO rich. Now
here is q piece of ore we have picked up at
random.
Here Mr.. Osbiston exhibited a lump of
black sulphuret ore exceedingly rich. He
| also showed the reporter the assayer's GER
~tificate Of the value of . piece taken from
the same place-$260.1 10 per ton. In con-
c~lusion, Mr.. Osbiston stated that he never
before was SO confident Of the future pros
perity of the mine as he is now.
Reporter-Then to what cause do you as
cribe the present depression
Mr.. Osbiston-To q panic originating in
the fact that the first ore reached . few
days ago was only . stringer. This cir.
cumstance was taken advantage Of by the
bears, and they got up a considerable panic.
You know how difficult it is to stop one Of
these panics.
In conclusion. Mr.. Osbiston stated that
he had no doubt that the stock would be
up to the old figure In a few days.
Mr.. sHARoN's OPINION.
Mr.. Sharon, the assayer, was found at
Gold Hill, and interviewed. He corrobo-
rated the statement made by Mr.. Osbiston,
aud exhibited a sample of rock which he
said would assay not less than $500 per
ton.
JOHNNY sKAE.
Mr.. Skae informed the reporter that the
mine never looked better. He further
stated that the crosscut on the 2100 level
is in good ore also, bat that it il not yet in
as far as the other crosscut (Which was
run some time ago for the purposes of
prospecting a short distance below.
SOME ASSAYS.
The following assays. have been made Of
the poorest specimens taken from the 1900
crosscut: s6s, sl13 Is, sl62 90. s223 At,
1854 80, $500 rs, an average Of about $3.50.
Six assays made to-day at the Comstock
Lode assay Office Of ore taken from the
mine this merning by Mr.. Sharon.
gave the following result: From the
face Of crosscut in the 2200-leyel,
Sl79.77 and Sa,225.48. From the crosscut
in the 2100 level. $20.92 $79. 16 and
sI13.09. Cap-rock in the 2200 level cross
emf 9c IT