Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1880-01-13
THE RICHmOND.
An English Journal ON Its Manage.
ment and inertia.

ment and Merits.
The London Mining World and Engi-
neering Record Of December goth, says
On Tuesday next the half-yearly meeting
| Of the Richmond Consolidated Mining
Company will be held, and we venture to
think that the shareholders will have little
| else to do than to congratulate themselves
upon the admirable condition Of their
finances, and the wonderful development
Of their mine. Had they listened, a year
or two ago, to the enticing voice Of their
Committee Of Investigation, and refused
| their complete confidence to Mr.. Probert,
we venture to think the present report
would have been far less satisfactory than
it is, and instead Of recording an uninter-
| rupted course Of success, might have con-
veyed some dubious hints as to the neces-
sity Of raising more capital. Happily, the
| shareholders, by the instinct OF self-preser-
vation, declined TO put to sea in the in
| secure bark in which the Committee had
| ready for their reception, preferring rather
| to stand by Mr.. Probert in the thoroughly
| seaworthy vessel, the helm Of which he has
| 20 long and so ably held.
There will be nc account presented, for
| this is the interim meeting which the share
holders have ordered, deeming twelve
months too long q period between one
meeting and another. In this they merely
follow this course adopted by all the rail-
way companies, banking institutions, and
| other well-established concerns. The ex-
| pense Of such q meeting is not to be con-
| sidered for q moment in the balance with
the confidence which the information i'm
| parted gives to the great body Of the share
holders. II in such s~teady-going compan-
les as banks and railways half-yearly meet
ings have been deemed necessary, how
much more important is it that these
| should be held by mining companies which
| present so mnch more of the elements of
adventure by the very nature of their
operations.
The nature Of the underground develop
ments, during the past six months, has
been well shown in the lucid reports sent
home by Mr.. Richard week by week, and
which we have regularly published. So
far the mine may be said to be looking bet
ter than ever, aud another feature of i'm
portance is that the ore which had fallen to
the value Of SAG per ton has now improved
to $50 per ton. The new furnaces are
also answering admirably. The one
enlarged by Mr.. Probert, smelling an
average Of 600 tons a week, and on one
occasion as much as Ia tons in a single
day. The production from 20.053 tons OF
Richmond ore. and 1856 tons of purchased
ore has been 4,8i4 tons OF lead and 554 2SS
ozs. Of silver and IA, 499 ozs. Of gold. The
refinery, which the commilteelwould have
abolished, has refined nearly 1868 tons, or
all the bullion that the company has pro-
duced, and the estimated net profit for the
half year from mining, smelling, and REIN
cry is f70,0 900.
The improvement in lead is Of great i'm
portance to the company. One thousand
tons were lately sold at f22 IS. per Eng
lish ton. and there remain still ), 1000 tons
TO be disposed Of. The latest quotation
for lead in New York is ga Us, and silver
is also higher in price. From all this it
will be judged that the company is at the
zenith Of its prosperity, and it would be
difficult for anyone TO set bounds to the
duration Of that happy period at which it
will decline. The financial position ia
sound, the mine is opening out in a way
that is beyond the expectation even Of those
best acquainted with the facts. and we
repeat that the shareholders will assemble
next Thursday under he happiest aus
pices, with the prospect that soon there
will be another division Of profits amongst
them.