New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-26

the mine. had been sunk 20 feet below the 200
foot level, and went to the bottom. The rock was
still the sane conglomerate and contained some ore
The water pouring in IN little streams from al
sides and dbl not remain long ut the bottom.
After sinking 30 feet further, Mr. Rose viii start
drift to cut the body OF ore found Mt the 200foot
level and if he finds it, n have no doubt he will.
his present amount OF developed since last
April will be doubled. Professor Newbcrry has no
doubt that the ore extended down far as 10 could
ever be proitably worked aud these new develop
mcnts sustain his theory. lie said Since the
solution from which the ores were deposited
evidently came up from below. in working down
ward the excavation viii be progressing toward
the source of supply and we have every reason to
believe that this is far beyond the reach of any
mining operations"
The correctness of Professor Newberry's theory
has been demonstrated by the exposure of the
large and valuable body of ore which have Just
described and which. believe. insures the future
success of the mine Mr. Henry Cummins the
secretary of the company, a report made last
November estimated the reserves then left in the
nine as worth $2,O0O.OOO. Without questioning
the correctness of this il is my opinion that it
would have been difficult to have realized one
half of this sum from it. The richest portions OF
the ore had ocen taken out and that which was left
could hardly Oc expected 10 average high that
which had been extracted. while the relative cost
OF mining and reducing it would be considerably
greater. Bat with tine developments since last
April. the V; Inc of the mine has certa My in
creased, and with IT'S concentrating works IN sue
cessiul operation and system OF prospecting kept
Tar ahead OF the actual mining out of the ore. the
property ought t0 have permanent and stable
valde. and pay regular dividends to its stock
holders.
PROFITS or THE MTNE.
The is now sold on the spot, the cost OF
freight. $50 ton for reduction and 10 per cent Of
the gold and silver for loss in treating being de-
Quoted from the assay value. To shcw what the
profits will be. make the following calculations
To nine 30 tons of ore a day at - a ton MIR. Rose
thinks it be done for So. S15G TO concentrate
it into 10 tons $50 freight 10 tons. 1928
reducing 10 tons 5000 loss on 10 tons supposing
the 10 assay 500 before concentration and
$500 after, $50 total expenses SJ3- assay value
of 10 tons Of concentrates at $500 80 600 profit.
-. 40 day from which to pay for wear and tear.
expenses OF administration and dividends. To pro-
duce 30 tons a day. it would only be necessary TO
remove body of ore measu rng less than feet on
each side.
Besides six mining CLAIMS the company owns n
town site. a mill site, just below the nine and two
additional mill sites of about ive acres each about
half mile down the guich. Besides the under
ground engine house and the concentration works
now bUldln tn r. are some Old buildings on the
top of the bill. boiler house. blacksmith and
and assay offices and residence Tor the supern-
tcndent. ON the town STE are number OF stores.
a school house and houses for q population Of
about 100 persons. The camp. which Is called
Baskerville is connected with H0sitl. two and
half miles south and with Silver Gill; seven miles
west. by telephone IL ".