Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-03-30
EUREKA CONSOLIDATED.
Contemplated Removal of the Fur
naces to Ruby Hill.
TWO ADDITIONAL ONES TO BE
CONSTRUCTED.
A Possible Reduction Of the Monthly
Dividends.
An Interesting Letter from Our
San Francisco Correspondents.

| ii Interesting iotteTsiToui
an old resident of Eureka, was received
yesterday. He is a gentleman well
posted, and his information may be
considered reliable:
SAN Francisco, March 26, 1878.
AS an old Eurekan, and notwith-
standing my temporary sojourn in
this wicked metropolis, one who still
takes q lively interest in all things
pertaining to the prosperity OF the
Base Range, l drop you a few notes of
matters that, while affecting the gen.
eral welfare of your town, are only
known on California street and vicinity.
The Eureka Consolidated is looked
upon here as the king pin of the DIS
trict, and its unprecedented monthly
dividend of 50 per share has brought
it into enviable notoriety. The ques-
ton is often asked In mining circles,
Can it be kept up for any length of
timer" and is answered in the afirma-
tive by those who profess TO be posted.
| All of the insiders claim that the re.
sources of the mine are ample, and
that the ore in sight Is sufficient to guar
antee a monthly division among the
stock holders of the sum of $3.50 900. for
a year to come. In the face of these
assertions, | happen to know that At
the meeting OF the Board OF Trustees,
held on the 10th instant, the propriety
OF cutting the pro rata down to 81 was
discussed, and many good $ Tor
the reduction brought forward. Chief
among these was the impossibility of
the four furnaces o in operation to
smelt sufficient ore to yield running
e expenses and give a surplus of $3.50 900
per month. If lead had not fallen to
80 low Il figure, there would have been
no difficulty, but as the case now
stands, the least accident to the ma.
chinerv. or one of the furnaces, would
cut off the bullion yield and reduce the
dividend. Witty niIty. To remedy this
state Of affairs, 1t Is proposed either to
reduce it TO 81 per month, or to build
two additional furnaces. This latter
proposition, while endorsed by the
Trustees as q necessity, has developed
considerable diversity of opinion as to
the most eligible place to construct
them.
SUPERINTENDENT DoNNELLY
Is in favor of keeping the works at
their present location, and adding the
two new ones to the north end, where
the present pile Of fluo dust lies. On
the other hand, President Zeile aud a
majority of the Board are considering
the economy of building the add
tional smelters at Ruby Hill on the Hat
below the mine. with a view of remov-
ing the entire works to that place dur.
ing the year. They argue that the
item OF transportation. a tax of 10
...xta .a. 800, ,...It hA .,.l -. A.
mine furnishes plenty of water to run
the furnace, and that wood can be pro-
cured from Spring valley and vicinity
much cheaper than it can be delivered
In Eureka. What the decision may he
it is impossible 70 tell. but there Ger.
tainly is a majority in favor of the lat
ter proposition. l learn that the re-
cent break in the stock was caused by
the anticipated reduction in dividends,
and not by any fear OF the litigation
~inaugurated by the Richmond Com
papy. 1t Is generally understood that
the greater portion OF the ore body, in
the ground covered by the injunction,
has already been removed, and that
the restraining order too late To
do any particular harm. The ground
IL considered very valuable, and
doubtless carries other ore bodies
equally as rich. but as 1t virtually be-
longs To the Eureka Consolidated, In
the light of Justice Fields decision,
the only question affecting 1t is the
reversal OF the Judgment by the Unit
ed States Supreme Court, a very un.
likely termination. There is but one
opinion, and it is looked upon ~ a Ger
tainty, that the higher court will affirm
the decision.
THE WATER PROBLEM,
Another proposition was submitted
to the Eureka Trustees at the meeting,
which. while no affecting its property
to any great degree, will, II adopted,
he a great help to its neighbor. the X
X Consolidated. This Is for both
companies to join In sinking the Sky.
lark shaft to a depth that would drain
both mines and to put powerful
pumping machinery on 1t for that
purpose, the cost and working e expenses
10 be borne equally. This would solve
the water problem In the X X, and
prepare for an emergency that might
arise at any moment in the Eure.
ka. The fact that water has been en-
countered in both the tenth and elev-
enth levels of the latter, disposes that
company to lend a willing ear to the
scheme. There were other minor de-
tails discussed, such as the disposition
of the bullion, the very low rates of
lead, ETC., all OF which were shown to
have a direct bearing on the future of
the mine.
Gen. p. T.. Common has been sojourn-
inv here for a week or more, and is
loud in his praise of the Base Range.
He Is pushing a tunnel scheme. and
tells me that he Is meeting with fair sue.
cess. 1t Is a safe statement that your
district Is commanding more attention
at present than any other outside OF
the Comstock. and all who have inter.
ests, or Investments claim a bright fu.
ture. The predictions are a matter oi
congratulstion to all of us exiles from
the fumes of the old town, and we hope
that the good prophecies NAV he veri.
fed. SoJoURNER.
We are disposed to the belief that on,
correspondent is correct in all Of hi,
statements. That a move is being agi'
tated looking to the removal of the fur,
naces to Ruby Hin. we have been