, 1879-03-22
Statement that Gold Quartz
Worth $4,000 Ton
Has Eeen Found.
Arrival or This News just in
Time to Asstlngc Much
Grief.
Continued nninous Fall III the prico
Of Silver and Lead,
Mine-Operators Taking Out Vast Quan-
titles Of Ore nnti Storing II.
Spftiat HIspatth to TIC Trt3Hn4

spfeiat Hfspatth to TIC 1rf,Hn4
LEAnrlLlg, COL. March 21.-The sudden
fall In tho Now York quotations of silver ansl
lend has rroslncoG 10 lttt,o Consideration
anong tho mtne.owncrH mud slnelters Of this
placc. There is n general fehr tint lilo bot
ton, Inns not yet beon renclicd, and tint tho
price Of these two lca.ling pro!ncts Of
1.eatlyilo will 90 down to figures tint
will not pay lilo coat Of mining, smelling,
and transportation, which result would
blight tho prospects, Of tllis camp for tho
coming summer. Within tile past two days
lend Inns fallou from $40 to $4O n ton, arl
silver has falon from st.osl TO s1.0G1 nil
outleo in Now York, while, during tho month
Of Jannary, tho latter a.ool at s1.10t and
during February Mt s1.oo, thus showing
steady tlecreaso Il, yaluo from tho beginning
Of Tic year.
THE CAuRE OF THIS DEPRESSION
is ascribotl TO tho general belief in tho I'M
mcl'so inoreaso Of production Of tho Lead
yillo mines this zcaso1,. There Ii doubtless
foundation for slch belief, ms moat Of thu
principal mines hero have lately introduced
machinery for doubling or trol,ling tl.cir
usual outpoar Of orc yot it ,nay l'o Of gen.
eral intcrUat to atnto that the Iron Mine,
having tic greatest capacity in tho ca.np,
Las within tho last week
STOPPED SHIPPING ORE,
nntl is accumtlating tho u1ltiro production OIL
its dump and In its orc houses. Tho Little
Chief md tho Littlu Pttsbrrg aro following
their example, and while they nro aro taking
out great quantities Of mineral, arc in renlity
puttingl less than l,alf their tsual quantity
to tho snlclters. In tho cnse Of The two
latter Companies, their nction is induced by
belief OH tho part Of tho mnnagers In reduc-
ton in tho price Of smelling consequent upon
tho completion Of tho numerous furnaces
that arc now being erected III this vicinity.
It ia ramorcd here TINT tho Iron Nine lay
been lately sold to san Francisco rarties for
s3,000,o0 aud TINT this accounts for tho
stoppago iii tho snlo Of It's orc. Tlero nro
also reports TINT Tabor aud Chafroe, princi-
pal ownors Of tho Little p.tsburg UousolI-
dated Company, t,ra, now negotiating with
New York parties for transfer Of that i'm
sncnso property. Gov. Tabor got out for
New York Inst Monday, where Souator Chuf-
fec Is known to 10 at present.
GOLD.
balancing uomcwhat tho encouragement
attendant upon the fa1l Of tho price Of silver
aud lead, il the unexpected discovery Of gold
in unprecedented richness in the vicinity Of
the camp. As IL vol known, placor-nning
for gold has been carried on in the Cali
fornia duleil aiuep 18S9, ,isnd .naiyipg, qsal-
tics llayo boon wished out Of tho cresk evory
year; but lioreloforo no gold Inns boon found
in, quartz to my oxtcnt In this 1'atrict.
To-day, however, considerable e1citenent has
been produced in tho camp by rumors Of the
!" find " Of rich fissuro vein Of gold. Two
miuea brought into tho Laaslvillo D.Inl spec-
itnens Of quartz assaying 5000 n ton, nrt1
claiming tint thoy came from an eighteen.
inch voin underlying the mountain aoross
tho Arkansas River, mud less thun twenty
miles from Lendvillo.