New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-08-12

d
/ $4,000. The present owners have erected an So
stamp mill on the property at a cost of S61,0O0
which has now been running four months, and have
spent for other improvements about So, 900. All
of these expenditures and the cost of working the
ore and running the mill have been paid from the
! product Of the mine, and when the gold produced
/ last month has been sold the company will have
100000 IN Us treasury. In other words, the prop
| cry VIII have earned the purchase money, paid
/ SlZJ,OOO for development and lmproyemsnt and
LETT 90 It's owners a surplus OF $4,000. he entire
| yield Of the mine has been about $780, OO. No
stock of this mine has yet been sold, but subscrip
Joh7 are now being solicited 10 New ORR AZ ~
| snare the number OF shares being 100000 The
owners OF the mlles say that they can pay 20 cents
| dividend on each share and have a considerable
| surplus, and | have no doubt that they can. Tho
product OF the mine since the new mill was started
hss been about $4,000 month, and the expenses
| ~ mining and milling are only from $1,000 TO
| 95,OOO. The company employs forty men.
| Passing he DeadTOOd Mine, the next one on the
south running pom the northern slope ot hill num-
Der two, Is The Golden Terra. 500 feet long AMI 300
feet wide. suit Is now pending ln the court here
/ between this company and the Father De Smet
tor Tie possession of piece Of ground 20 feet by
800 lcet lying south of the Golden Terra line aud
claimed by both parties. This land Is In the very
] heart of the beit,P aud Is known b. be Of very
/ great value. The Golden Terra Mine was purchased
| ID December, 1871 Dy Mc>sr,. leyIs, liaggu ~
! Hearst of the same men who sold the DradwOOd
| Mine, for 100000. 4 company was organized and
| some OF the stock was sold san Francisco for
| - % aud 50 "a share, Mes-rs. Tevls UJgWn =
/ Hearst however,, retaining controlling liz
terest IN u. The stock which has been
assessed - 90 q snare tor the purpose OF build
| lng "a mill, Is now quoted 90 from Gl2 10 Sl0
\ share Ih.s company has two stamp mills one Of
twenty and the other of eighty stamps. The latter
| haS hrru completed only month, ana tue product
] OF the mine and mills during July about PJO,
600, IIe total product OF tine mine has been about
/ $4,000
! The Highland Nine, lying next south Of the
Golden Terra, but separated from DO by the strip Of
disputed EruUld TO which have referred, h some
times known the HDmestaIe 40. ., and comprises
four claims the shortest OF which is 500 feet long
/ IL lies on 10th sides OF the middle huL extending
! over Is summit This NINE Is owned BY Nessrs.
! lewis, Haggu * Hearst and Glimer, Salisbury *
! Co., each urn holding one-half, aud purchased
/ by them for H2JOOOO. The Highland Is undOubt-
edly one of the best mines on the uel" although
II D. less developed than Others ls milling facilities
hayltg been small In the mines on each side OF It
immense bOdr. OF ore have been uncovered, and Its
shafts and tunnels give such gtcdt PROMISE that
/ 10, owners nave ordered lZO-staMp mil III add
ton Co the Thru ystdmp one now running uu the ore
! 10, present product ls about $4,000 month"; which
viii bee Increased 10 $4,000 about the hfst Oh tie
/ year, when the ueN mill Is completed.
OF INr REST TO NEW-YORKERs.
! Lying south Of the Highland are the Homestake
and the Giant and Old Abe Mines The first Of these
is one of the best known mines in the country, much
| of its stock being held in New-Iork, where it IS
| quoted daily on the Stock Exchange. The company
/ owns two claims, the HOmestake and Golden star.
each of which is 800 feet long and 300 feet wide.
The property was purchased III November, Isl by
! Nessr. Tryis Haydn g. Hearst from the original
! locat0rs. the Maxwell Brothers Il Harvey receiv-
/ uV $4,000 iOT the HOmr,jake, and Mallory and
! the WosWm Brothers $4,000 for the Golden
star. 4 stock company was ORGANIZED IN san FRAN
/ cisco the following Winter, and from 10000 to
80 900 shares were sold, the INST beng disposed of
/ 40 from - 80 20 II each. On the arrival II 9r.
! McNH-ter- the superintendent, to take charge of
l fine mine. ms report TO the owners wa, of such q
] favorable character and they had So great conn
de0ce u his Judgment, thar they stopped the sale O
The stock -II Francisco and began To buy 10 back.
They succeeded I'D securing an but ',JoO shares at
| about ~l5, that when the stock Was taken 10
NeW-lork for sale, $500 shares OK 10 stood IA Mr.
/ llaggu', name as The repre- tutauNe OF TIE HIIu'
The rrire al which the stock was sold IN New-lOrk
was $50 share, and out 10000 shares had been
disposed of when Dir. Hearst, VINO Is the practical
MINER OF the p arrived here I'D February or March,
ISIS on examining the mine he teie graphed To-
/ bl, PARTNER 10 New-lOrk 10 sell more stock, a-
| the property IN MS estimation was worth o6,OOO.-
900. SIAce that time mere nave Dceh tWo aaatos-
ments of II share on the stock Tor the purpose OF
building mill, and the share, are now worth about
so each. There areuuW on tins property two mills
ana AN eighty ,tamp, which uas been rUuuIug for
some time and the other l2O-.tulup mil, which D..
/ completed. and VIII begin running on he ore next
week. The latter is tue largest gold mill pa the
world, but three other similar ones are now build
!uL lu Chicago 20 reduce the ore Of the belt lue
| pr0duct of the HOu"stakr Mine Us now ~6OOOO
month. The product of the new mil IS expected 10
be $4,000 a month, making the total product oI
The mine 100000.
The Giant and Old Abe Mines cover ground which
/. equal 10 about Two claims, or "a strip of territory
800 feet long and 600 feet wide. These were
puIgha "a in the summer OF 1873 by Messro. evils.
ila-giu x Hearst, who paid iI,JOo for thc "Ltut
Mime. 500 900 tor the O.d Abe, 93OuOO tor the
Anxious, and about 100000 Tor Osler conflicting
claims. a company was Incorporated 10 operate tue
mime, and portion OF the lOOOOO shares were sold
Iu san Francisco az from IS 30 ,O - each. Com
BaratIycly little work has been douc on this prop
erry and @, product has been only about $4,000
| month. Tho mine has been sufficiently developed
to convince ITS owners that J., has the same cuOr
nous ledge OF ore which the others contain, ana
they are now running 80 stamps Iu leased mills and
preparing Tor the erection OF a I-O-sI+-p NIL th9
Ibis compl tes the list of great mines known to be
on Jne " belle NOrlh of the Father DE SmeL ana
south Of the Homes, axe trio VEN seems 70 lake "A
downward Dip. On the north, adjoining the Father
De SmcI, is tue Sir ROdeUck Dhu mine. owned py
Mt,-r-. McGluuIs Brothers aud W Winchester, OF New
| York CITY. Mr. +. \. Babcock, OF New-lork, the
urr,suf superintendent, TOOK charge OF 10 about tSO
months ago. The NINE cost It's present prOUretors
| about $4,000. Little work except IN the way "I
Development mas been done Ou this property mere
ar. tWU tunnels running north INTO the mountain,
the upper ouc 225 feet long, IN which u feet OF
good ore Das beeu found, and the lower l3U teet'
aud there ~ feet OF ore M that when mas Dveh
| DEVELOPED without finding the slate wall. How
wide the ledge is ~ tins point - not Known Jun
mel running into the opposite mountain on Jhe e0u,u
], in 40 leet and has ore 10 feet VIDE out MI Dad
/ cock does no, know how good 10 10. Inc more the
mine Is opened the more all the mining experts, VINO
are watching 10 "ith great interest are conylheeu
that !. is on continuation Of the oelt ana JhdJ a.
no great drp.u tAeImmen,e ledge winch - known 10
extend from the Father De Smct 10 the HomeStake
Will be found Indeed, it Is believed that the pres
emit working, OF the sir Roderck Dhu are on the
top of that ledge II these cOuJecjures are sus-
tame by future developments TINS niue VIII t'he
its rank with the great ones have describe Ii IS
now supplying ore to leased mil OF forty stamps
and L. producing about $4,000 month Near lue
sir ROuerck Dhu. and supposed by many 70 De ALSO
on the belt are the Buckeye ana NoOlpecheF
Mines. which are taxing out ore on q small scale
,,,., IA Ia. nm q continuation OF the belt ia That
direction company 10 operate 10 Is now DelLs
formed m New-York under the direction OF the
agent OF the Bank Of California I'D thai cItl'
/ D.va Iu mi. letter enumerated the mines that
are now WORK NJ ON what believe Is one OF inc
most remarkable bodies Of gold ore IN tne Oulled
~ratrs IN Is certainly TWO miles long ana averages