Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-01-11
Yield and Profits of the Mine.


shareholders was held in IOndon on
the Goth of December. We extract the
following synopsis from the report in
the Mining Journal.
The Chairman after giving a brie|
review OF the status of the company al
the previous meeting, and alluding to
the unexpected termination Of the law
suit, went on to say that he had every
reason to believe that the judgment in.
stead of being adverse to the Rich.
mond would have been entirely in IA
vor of the company. On hearing that.
we felt that we should not be taking
the proper charge which we ought oi
the interests OF the shareholders, il
VIZ did not take steps To test the decis
ion which the District Court had given
by carrying the case to the Supreme
Court at Washington. We felttlat the
amount of property at stake WAS so
great, and that we had on all hands re
ceived such strong opinions as to the
right and justice OF our case that what
ever the cost might be it was our
bounden duty 10 20 OH with the action
to take 1t To the highest possible
court. with the view Of getting that
judgment reversed. We employed, as
has been before stated in this room, the
most eminent counsel that were to be
obtained on the Pacific coast, and those
counsel were strengthened by the
| ablest per that could be obtained.
We had, amongst. others, Prot. Hauge,
Prof. Ash burner, and last, but not
least, Prof Clarence King, of New
York. / have no doubt that with the
aid of those gentlemen the counsel put
the case ss strongly and forcibiy as
they could before the Court, but all to
no purpose.
THE APPEAL.
After the judgment was given our
counsel demanded-I believe / am us.
ing a strictly correct word-that the
Court should give the findings Of
the judgment, SO that we should be
enabled 10 carry The case tn the Su
perior Court in the proper way. l he
iieve If those ludings had not been
granted 10y the Court. the counsel
would have proceeded by what is tech.
uically called a bill of exceptions. But,
however, after soiue time those find
ings were settled, and settled in such
a way that | am happy to tell you that
every question IN ~cnnneclion with the
suit, whether OF law Or of fart. can lie
recon,idered on the hearing of the APP
peal. That il u very Important thing,
because IL the Court bad shut Us out on
facts, and tied us down 10 mere ques
ton OF law, u chance on appea
would not have been 50 goo as at
present. AT the same time our op
ponents applied Tor costs in the case
not all the costs, for we happen to
know that they went to an enormous
exp in the same way we were
Obliged TO do in getting the most emf
nent counsel and the ablest expett~
that they could; but they applied TO
the Court for the pay meUt of the sum
of S37,100. II cir application was re
fused, and ] am happy to he able TO in
form - that the amount awarded to
them by the Court did not exceed The
sum oil $500 that is to say about Coz.
That was one ugly feature out OF the
way, and one OH which many of the
shareholders IN England were. / know,
a little alarmed. AT the same tim :.
while sanctioning onr appeal, we were
called upon by the Court to give secur.
ity for future DAMAGES and costs if any
should he found against rs. The court
fixed the amount that we should he
called upon to give security for Mt the
very moderate sun of $4,000. OF
course, should we not ultimately sue
coed in u appeal, we shall have to
pay costs and damages; but at all
events we are entitled to say this, that
the sun named by the District Court
as security may be taken AS something
| III n Tim nlnaSlya nf lhntr 1Vtt~, al
what the costs and damages may ulti
mately he. We cannot tell how long
before The Supreme Court will hear the
appeal. Some say two years, some
longer. Since the Judgment has been
given our counsel are just as strong as
ever in their opinion that thejudgment
ought to have been for us and not
against us; and they give us every
reason to hope and expect that when
we go to the Supreme Court we shall
be abie to reverse the decision of the
District Court.
MINING DEVELOPMENTS.
Important matters have occurred
since we last met, and important de-
velopments have taken place in the
mine. Valuable ore has been found
between the 200 and 400, and l am
happy To say that it is still going down
below the 400, and going upward above
the 200. (Cbeers.l How much there
is, or how long IL will last, Of course
we cannot say. There is a large guam
tity now in sight. l heard the other
day an allegation made that we were
picking the ore. If we are enabled To
pick at the rate Of / 200 tons per week,
II must be a very large body we have
To pick from. Ore worth from S30to S35
per ton will not pay to expeud S3S on
in raising and smelling. To that x
tent we pick, and no moro. We have
ore of high grade and quality in
abundant quantities, richer than was
eve found before in the mine. We
have a large quantity of this ore still
in six hit, and there is no end to II al
present visible, but it is being brought
to the surface in large quantities as fast
as we can smelt it. Hear, hear.) Now,
gentlemen. the total result of the smett
! ing since the furnaces we're started on
September 8, gives us. you will see, a
gross oulturn up to the 9th of the pres
ent month of no less q sum than 1878,
wv, or about liza. 000[.