The New York herald., 1879-01-06
BIG BONANZAS.
Development Of Vast Mining In
tsrests in Nevada.
HOW CAPITALISTS OPERATED
Milling Out the Millions in
PulVeriZed Ore.
MAP OF THE MINES.
How Forests Are Cut Down to
Support the Workings.
MIGHTY MACHINERY.
MAP OF THE MINES.
How Forests Are Cut Down to
Support the Workings.
MIGHTY MACHINERY.


truth But for the timely aid rendered by capitalists
TO the hrst mill builders the mines of the Comstock.
which are the pride of tho country. could
have attained to anything like their present promin-
ence for many years to come. The machinery
and appliances brought into operation for
working q mine to tho best advantage are
very costly. and in uninhabted country
this was twenty years ago. everything Of that
character had to be reghted by mule trains for hun
dreds Of miles and at very great expense. In well
appointed mining establishment to day. il there
necessity for it, ore be taRen from the noun
tain, crushed miled. amagamated. retorted and put
into commercial! bullion in thirty hours. but 1t was
very different In the first years of mining.
Among the first who came to the assistance Of tho
miners Ralston, Of the Bank of California motor
iety He believed in tho great wealth of the mines
and the future greatness OF virginiaif the miners
were encouraged. Money on the Comstock with the
best collaterals commanded five per cent interest
per month. He supplied money for machinery. and
in turn he handled the bullion for the miners. max
ing his bank the general depository Of the products
OF the mines. In prosperous times this was an i'm
mensc and lucrative affair." for while the mines were
yielding hundreds Of thousands per month and sending
that bullion to the bank. not than twenty PEI
cent Of the value would be called for in coin.
The bank purchased everything the mines and miners
consumed, paid in checks and had the use of the
bullion. His relations to the miners at first in
the spirit Of his well known love OF building up the
country with the certainty that San Francisco
would ultimately have the lions share Of the miners
success. and what was wealth to ''the city by the
Golden Gate was certain increase in all values
in real estate held by him and his associates.
With continuous supply OF paying ores in the
mines there little risk to the capitalists gold.
but rich veins not everlasting like the hills and
for security Of the money advanced by Ralston
the bank the mills were held collaterals and
when some Of the mines "gave OUT and the miners.
could not meet their obligations the mills fell into
the hands Of the capitalists To render these mills Of
any value whatever it necessary to find mines to
supply them with ore and to obtain this for their
mills Ralston and his associates had to purchase
the controlling interest of Of the mines which
gave rise to that common expression on the Stock
Board. the bank crowd" The bank officials affirm.
however that. corporation, they have never dealt
In mining stocks. though tho bank has hold very
large amount Of stock as securities.
sHARoN's DEBUT IN VIRGINIA.
In 1863 the great Of silver mining becoming
doubtful. the heavy investments Of the "bank
crowd" was cause Of serious trouble and anxiety.
It then that Sharon here the agent Of the
Bank of California Afraid OF general disaster
Ralson tempted Sharon with two years credit and
would assume the past obligations Of tho
miners. In four, months tho indebtedness
vas I'll paid aud s750.o0O more was placed
to the credit of William Sharon. As pros
perity returned to the mines, 1.-The mills that had
been terror to Ralston source Of great wealth
to "the Union Mining and Milling Company" for
singular as it may seem. there is not mining CON-
pany the Comstock that owns . mill except Crown
Point. AL the great mills-apart from those con-
trolled by the Union Mining and Milling Company
and the just nnmed-are owned by the Bonanza
arm.
Tho explanation OF this seeming oversight of the
companies has varioas interpretations some OF them
accusativc and others the reverse. As matters Of
TACT the past has shown in several where min-
Ing companies have had their mills that the re-
suits of working o: the less profitable than
when done by parties altogether unconcerned with
the mines. This, of course could only occur where
the superntcndcnts werc charged with the super
vision Of both the mine and the MILL and in the great
interests that are hero brain is sufficient for
both Tho better reason is to be found In the fact
that mining companies are in the beginning usually
impecunous; all the money that Is raised by
mont is needed in the mine and In the hosting works
until rich ore Is struck" When stockholders have
paid frequent high assessments they become sentative
and have no enthusiasm about largo expenditures
necessarily increase ASSESS
ments They want dividends" and nro willing that
the should be taken to custom mills" The
FIRST locators of minc are in tho majority Of cases
poor men, who have had to borrow from everybody
to keep soul and body together while they sht-
ing through porphyry, clay and rock to reach tho
orc. aud by the time they get to It they pretty
well loaded down with debt and are glad enough to
''lct in moneyed man. who s sure, IL the mine Is
'a good thing. to invest heavily and get. hc
the CONTROL and In almost s such casos the quickest
returns sought and everything directed to that
end. "A cool million for mill" as was in the case
of the Gould Curry. is not relishabe by the hasty.
to-gctrich money maker and the mill business
usually falls into tho hands Of tho slower mon, who
know better the value Of such an investment
THE MILL owSKRs.
There are risks in tho investment Of money IN
mines TIL they arc fully prospcctcd and developed.
but ia m ore mine thcrc Is noncif thcro In orc "a
milland with largo sgrcat milling enterprise
has been created. It would have been very singular
had this not been So with all the favorable condi-
tions. Tho owners have to-day eleven mills, ranging
from hftccn to eighty stamps. making altogether
battery force Of 375 stamps. the largest sxc stamp
capable Of puvcriziug I've tons OF ore overy twenty
four hours. Tho whole human force engaged In
these mills numbers c2o men. whilc the mills aro
running to their full capacity.
rrxRKrrwa TIE MINES.
In former letters tho great yield Of ore and the
many millions from the Comstock Iodo havo been
stated. The miles Of shafts, incncs. wines and
drifts have been given In correctly asccr.sincd
figures. Thoro pow remains to be noticed that
colossal item cf labor and cxpcnsc-'thc tIn,bcring
Of the mines"
However durable may DO the sycnitc. trachytc and
other rocks which contribute their presence in tho
makc-nPof mountain. there are elements Of lesser
resistance aud endurance running hero and hcrs and
intcrmjxlns with tho harder substances which cam
not be relied for stability whore tho mountain is
pierced and tho work Of blasting Ia constantly going
OH. There is consequently present with the in
ie.ligcnt superintendent Of the mine full esisaticn
of tho to lessen tho risk OF sbc accident
III the frst days OF mining hero shafts were sunk
pretty much after tho fsshion Of well boring and tho