Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1879-03-05

There has been an uneasiness felt in
this section OF late by holders OF Com.
stock mining shares. Not that conii-
dence in the mines has been wanting.
but there has been a feeling o: fear as to
the market. This u~neasiness did not
cause sales in any considerable quanti'
ties, but il hinderej investments, which
Is the next thing to prscipitating shares
upon the market. The cause OF all the
late depression Is currently reported
here to have been caused by sales by q
leading stock.sustaini Nc man Of San
Francisco.
IL those who wish to sustain the stock
market, and really strive to do so. could
only buy all the time and never sell a
share how easy it would DO to keep
values up. But unfortunately this can.
not be. Even m~illionaires must sell
stocks sometimes and when they do. all
tho small capitalists aud feather weight
dabblers below take the alarm and sell.
too. This often produces q panic just
when there is nc necessity for 1t, and
always induces a drop in the market.
This is just what has Lesn done Of late,
and the only cause there Is for . decline
in the north end stocks.
Visiting day has come and gone since
our last report. There was not much
for visitors to see outside OF Sierra Ne
vada. for the bottom OF 0phir's incline
was then and Is still covered with water.
But what was shown in Sierra Nevada
ought TO have bounced the stock. There
was and Is still good vein material and
streaks OF low grade ore in the bottom
Of the east shaft and in the face OF the
north drift. and nothing to mako one
uneasy in tho incline. Still those who
saw aud were delighted could not buy,
and because no orders to take in shares
followed the visitation, no raise wa
made.
Aud right here il may be remarked
tina, had the joint Union. Mexican winze
shown half as good n formation rs the
Sierra Nevada east shaft. those stocks
would have doubled in value at once.
ubI. 4. ka,a,.. sonahn,V man bava |
become impressed with the idea that the
bell OF the pear growing ON the Sierra
Nevada tree hangs over the fence and is
likely to fall into Union Con. ground.
so intsn, are the masses in watching for
this pear to drop that they cannot for
the life Of them see anything else iu the
whole northern orchard. And yet some
OF tho richest and best mining men OF
the Coms,ock have more faith in the
Utah to-day than they have in the MeIi.
can. and are ready to take every share
Of it, stock at fair rates.
But suppose they should strike II in
the Utah. Al there is every prospect OF
their doing when about down IN the
2OO0 level, to what figures would Sierra
Nevada go II people will speculate
on probabilities as well as in coin. why
not endeavor to compass the situation ?
Along the middle Comstoek the situa.
ton remains unchanged; 1t still hinges
on the expected compromise with Mr..
Sutro. Till that is completed nothing
is likely to be done in the mines and not
much movement in those stocks car be
looked for.
The Yellow Jacket is still the king
pin for the mines to the north Of IL. and
it is preparing to ill its position. See
report.
Beleher has long drifts ready for cross
cuts which are likely to be run soon.
Crown Point is skirting the vein on the
900 level also. On south things are
unchanged or nearly so. The mile OF
drifts in Alta and Benton are still with
out cfosscuts.
The situation all along the lode is
promising. but unfortunately values are
fixed by the market and not by the
mines.
Below we give our regular weekly
summary Of the latest and most correct
mining information. derived from Of
fetal and authentic sources, showing
the situation Of each mine to-day up to
the time Of going to press
Ward.
Work in the east drift. 500 level. was
stopped Monday but will DO resumed
again Friday. II is in $50 feet in quartz
and soft vein porphyry. There is a
little moro water in the face. The new
double hosting engine has been tried
and found to work well. II will be put
TO use somewhere from the 10th 10 the
18th instant. The skeet chute is framed
and ready to so together and the posts
and guides are in position. A survey
has been made for u water tank on the
nights, $50 feet above the works. The
tank is to be lsxlsxI feet. The fall
from the reservoir to the tank will DO 81
feet; distance from the reservoir to the
east eud Of the works. 1900 feet. The
frame Of the tank will DO l2xl2 and the
planks J.inch.
SIERRA Nevada
Tho new air compressor was started
Monday afternoon. eleven days after its
arrival. and was found to work ad-
mirably. II was given q rest yesterday
to finish up everything and put oil at
taehmen,s in good working order. and is
now operating well. The incline is 30
feet below the $500 level and still in
capIock Of n hard. brittle character. car
rying large ~stringers Of quartz pitching
toward the vein. The north drift con-
tinues in soft vein porphyry with string.
ers Of quartz and low grade orc. II Is
averaging six feet per day. The east
shaft IA being continued below the 1900 |