River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1879-11-20
Selling Mines in New York.

Large mines are the fashion now. All
the recent sales of mines in this market,
so lar as our information goes, have
been in connection with large properties.
The Little Plttsburg cut the fashion, and
the Chrysolite is of like pattern. Ii
is sa d that the first monthly dividend
of the latter Ito be declared during the
present monthly will be not less than 81
per share, while it may be twice rs
much. The Mack Morris Mine, of the
Globe District, Arizona, is said to be
great mine. Certain it is that it was
sold few days ago for very large sum
of money to party of prominent New
York capitalists, one or two of whom
made personal examination of the
property. The Winnebago and 0. K.
mines; the Robinson group 1.-THE first
representative in this market of the
Ten Mile, Colorado, District; the Plata
Verde and the Belfast group Of Silver
Cliff; the Midland, mountain of great
lodes in the San Juan District, the
Breeze and the Climax, of Leadville,
are samples of the transactions which
have proved attractive to New York
capitalists during the past few weeks.
These are only few of the large prop
critics that have found favor, but they
indicate the character of mines that
can be sold here. 1t seems to have be-
come recognized fact that the market
is more favorable to mining properties
that justify a high price than to ordi-
narily good mines. A 100000 mine,
or, better, a 50 000,0 900 mine, will sell
where a $50, 900 mine can get no con-
sideration. The most active operators
know this. and-they are giving all their
attention to the very large properties.
Some of the most famous mines in
the country have been secured for this
market. The Silver King, of Arizona,
and the Dives and Pelican, of Colorado,
are examples. The Dives and the
Pelican were, previous to the discovery
of the Leadgille carbonates, the most
famous mines in that state. The have
produced more than 81, 100000, al
though work in them was for years re-
stricted by the fiercest litigation known
to the record of mining in this country.
The titles have now been perfected and
the mines will be brought to this
market. The Briggs consolidation is
understood to he within a month Of
deal toward giving Gilpin county the
standing here to which its record and
its presen. ore production entitle it;
result, too, which will be aided by the
Cashier, whose mill is about ready for
ore. The Boulder consolidation an
nounces the sale of a sufficient amount
of its treasury stock for present pur-
poses, and we may now look for a
record from these mines that will
strengthen the favorable impression
of Boulder county already made by
the Caribou. The Tombstone, OF Ari-
IONA, which has done so much to at
tract attention to that distant country
during the past year, is to be reorgan-
ized here this winter, and late San
Francisco papers state that the Noon
day, of Bodie, which is just completing
its mill, will make its appearance here
in time to give New York a share of
its first dividend
These incidents important as they
are, constitute only a very slight refer
ence to the work accomplished or in
process in the New York mining mar
ket. Yet they are eminently suggestive.
We hear daily complaints of the quiet
condition of this market. and we be-
lieve them to be unreasonable. Any
we'll Informed person looking over the
record of the past year must be i'm
pressed by the enormous amount of
capital that New York has within that
period invested in a class of property
that three years ago commanded al
most absolutely no respect or conf
dence whatever. If time shall show
that these investments were generally
wise, there will be activity enough in
this market to satisfy almost anybody
perhaps even western man with a
brace of mines in his pocket. Millions
have gone to the west, and now thous-
ands are coming back. The return
! current is growing stronger every month,
the dividend list is growing longer, and
| before Christmas it will undoubtedly
have some important accessions. BY
some persons it is estimated that by
next spring the New York mining COM
panies alone will disburse $1,000.000
monthly in dividends. Let the divi-
dends approximate this amount, and
there will be no more signing for a
"boom in mining .-The American E1.
change.