New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-04-15

A TRIBUNE reporter asked one Of the firm of
Prince g. Whitley Yesterday as 70 the cause Of the
recent decline in ChTys0lIte stock. lie SAID that
they had received many orders to sell The stock. aud
had executed them why their cu 't0mcrS wanted
TO sell they could not tell; the finn were not inter
ested IN forcing uD or down the price 4! any
mining stock. A gentleman connected with he
house of Dodge Potter 81 Co. admitted Yesterday
that that firm had been compelled TO suspend on tie
Cotton Exchange by reason Of the depri-
citation III the price of cotton aud the IT,
ability of some OF their customers {" put
up margins they did not thiak tie SUSpcnsIJH
would bc more than Temporary. rs th'X hoped 20
make such arrangements rs would enable th,m 10
continue business at the Cotton EXchang". Their
failure was i'll no way attributable TO
mining transactions The decline IN ChrlsO-
lte LATHE Pittsburg and other share
was not the cauSe of then trouble Mr. Jane, Il.
Keenc, in response 10 "A question rs To whether
he was largely interested on tn" short side
OF Chrysolitc, said very cmplalcaly, There
no interest in ChrysOlitc whatever; | am
neither long nor short Of the stock" lie also
derued in terms that he was the big bear" some
people supposed him to be. Mr.. George -. Roberts
said, regarding the rumOr that the CnrlSOIiC would
pass tire dividend this month, that he knew Of no
reason why they should The company tor or
three mont his had declared thor dividends ON the
goth, and when that date arrived some people ThO
were HOw selling the stock under the belief hat the
dividend world be passed might he disappointed;
tAe fact WAS thar people were frightened, and
many OF them thought that because one LpaGviC
mine had failed to meet public expectation, they
were ali failures. The ChrySOite could double its
daily output OF ore. but the selters cOult not ham
de it III the present condition OF the roads.
The company had contracts with smcltrrs
for 100 tons per day When the roaGs were
better and the railroad had reached Leadviile
snelters could ship more easily and economically.
200 tons per day If necessary. Mr.. Roberts was
not selling, Chrysolite stock, and thOught
S S6DT PSpS S %o were Sug wO4& Tsrft
spectators could do they pleased his interests
were centred in the mine and not IN quotations on
the Stock Exchange. Mr. h. Is. Dorsey, one of the
fine (,hrVSOlitp. said n Inc
NOR that lie selling the stock. that he had sold
some time ago 1000 shares because he wanted
sold none lately. He held options OIL many
thousand shares and proposed to hold them he |
certainly should not JON the thrOng who reminded
him of the sheep, IN search OF a precpce-he was
not going over with the lest OF them. So far as pass
ing tho ChrysOte diyideud was concerned, ne had |
heard nothing about IL If there had been any truth
in such report, occupying the position he did he |
thought he would know ,abOnt 1T # anybody
his expert, Mr.. Stretch had examined |
were $15 10000 III sight; Professor Raymond said |
that there were at least $7,OOO,0OO lie did not |
whether these reports, or any other reports |
were taken, the mine was worth far moro than ii |
WAS selling for, and in his Judgment some timid |
people, we'll rs those who were gambling in the
stock, would have reason to regret their selling,
The South drift on the 15O-fOOt level of the South
MONDAY was in "a feet on April q, with O-fOOt |
ledge OF good ore In starting the new winzs down
on tile ledge III feet from the MAIN east crOsscut,
feet Of ore were found next the hanging wall max
ing the whole ledge eight feet III the clear of good
paying ore. lAIRC DOuy OF nlgn Rraub ore Is eX-
pected to be found In sinking the wluze.
The superintendent of the BOde Bluff reports
under date of April 8, that the vein was increasing
aud becoming more compact as depth was attained. |
The superintendent of the Homer Mill and Min
ing Company reports, under date Of April 9,
that the tunnel on tho Crcvasse vein had been
driven 200 feet, from which point erosscuts had
been started to cut the Wasatch and Mona veins.
Work on the tunnel had been temporarily sus-
pended, III order to concentrate all efforts upon |
the crOsscuts. When these have been sufficiently
extended the superintendent expects seven feet If
ore sufficient to furnish steady supply to the MILL
The face of the Crevasse vein in the tunnel was |
over four feet wide OF ore that would mill $40 per
ton in gold.
Development work on some of the largest and
richest properties belonging to the Eagle River Con-
soldated Mining Company Will be begun and Wig
Drously prosecuted as soon rs the weather permits
This company owns in Colorado thirty distinct aud
Well-defned mineral properties.
The east erosscut on the 55O-f0ot level of the
south BulWer was in II feet on April 9 the west
,rosscut on the 600-fOOt level was in as feet in
favorable looking ground. The superintendent
hoped TO cut the Turner ledge within few days
The pumps were handling the flow Of water with
4 drift was started on April to connect shaft No
on the ChIysOlite. with the new shaft. Drifting
was being continued west from Vnlture shaft No.
yelopment on the line OF this level On April 49,
III the ore in tho faces of drifts was becoming
offer. Shipped 146 tons.
Ali three drifts from shaft No. 2 in the Little
thief Wers looking we'll on April s, A contract had
zen LET TO sink the DAILY shaft 100 feet deeper The
otal shipments from April 1 to 8 were 800 tons.
ln April 13 the faces OF the North drift ia soft
re. Shipped eoyenty-nine TONS and RENTED TO
Iew-YOr6 Office $4,000.
storm Of unprecedented violence had stopped
n outside work at the Robinson Consolidated on
lpriI 8. From twenty-five 10 thirty tons of gre per
law were being stepefl. A telegram. dated April 13