Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1880-04-02

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MINING MATTERs IN NEW YORK.
MeW western Properties are n.
gardeta In she East.
Mr.. D. F. verdenal writes to the Boston
Advertiser, under date Of March Goth, a.
follows The market for mining shares
during the week has not been characterized
by any increased activity, 20 far as leading
stocks are concerned. The outsiders have
not quite recovered from the scare which
afflicted them when Little Pittsburg made
its sudden somersault. but 1t now looks as
il. the sober, second thought had come to
the rescue, induced by the fact that there
have been heavy purchasers at $40 per
share. Those who have ventured to en-
bark in Colorado stocks have thus far had
very little to complain Of, Little Pittsburg
being the exception to the rule Of good in
vestments. Many promises were made
about Little Pittsburg, which have only
been partially redeemed; many promises
have been made in connection with Chrys-
olite and Little Chief, and 30 far these as
surances and promises have been realized.
Chrysolite has declared its fifth dividend,
aggregating n million dollars in five
months, besides an expenditure Of nearly
half . million dol ars for permanent i'm
neers who have recently visited the prop
erty declare that it has not been worked up
to its limit a was Little Pittsburg, but
that its output can be largely increased.
That such will be the case no N who
knows the character Of it's managers can
doubt. The mine has been opened up on
. systematic plan, very much in vogue
among some of the abused miners from the
Pacific slope, who make 1t an intariable
rule when they take out . ton Of ore to de-
velop one in its place. Little Chief has
declared it's second dividend Of one Shun-
bred thousand dollars, and the working Of
the mine is conducted IN the same princi-
pie AZ the Chrysolite. Had the Little Pitts
burg managers made haste slowly, insttad
Of going in . hurry for the rich cheese in
sight, they would be in greater popular
favor to-day.
Mines cannot be opened in q day or a
year, and the bullion production Of Colo
RADIO, 80 far tested by its years Of mining
experience. ought to place that State far in
sho - Va mAAAA6 AANostuiCut SOhtciSs
Outside Of the Comstock the entire silver
State Of Nevada has had but few dividend
paying mines, and these we're made pro-
ductive only after the sinking Of large
amounts Of capital and years Of sinking
and drifting.
The Colorado mines that are paying div
idends in New York are few compared to
what the number will be, say before the
year is out. The iron silver mine recently
incorporated, comes in under favorable au-
spices. While Messrs. Stevens 4 Letter,
the former owners land still largely inter-
ested in the new company, did not care
about large returns, they opened up their
property with good Judgment, and now it
is only . question Of q few months time
when regular dividends will be continued,
and unless all the experts who have exam
ined the property are mistaken, indefinite
ly. With a contact vein opened for four
thousand feet by levels, drifts, i~nclines and
shafts, with a pay lode five feet thick on an
average, and yielding over 800 to the ton,
the permanency Of such a mine ammo be
Questioned. The Robinson mines announce
the payment Of quarterly dividends, COM
mencing on the LIST Of June. This prom
Use is based upon the present development
Of the mine, and where one ton Of $500 ore
is exhausted, five tons are developed by the
continued sinking Of the main incline and
the extension Of the drifts and levels. The
managers Of Silver Clif have overcome
the difficulties and disappointgnents neces-
sarisy attending the opening Of s new mike
ard the gGaEiag Of q new mill, and are
confident OF the property's ability to pay
dividends within 9 few months. The same
assurance is put forth in bet.alf of Bull
Domingo and other Colorado properties.
Colonel Oshiston. Superintendent Of the
Hukill and Breeland mines, is not back
ward in assuring his friends that these
properties are On the eve Of becoming div
idend-paying. So much for Colorado.
The Black Hills mines, largely owned in
the East, have certainly earned an enviable
reputation and should be Q guarantee to
other investors that good mines can be
made profitable investments. Homestake's
dividends have been - regular as clock
work. Deadwood starts In ~ Homestake
did. and no fear need be entertained Of q
cessation Of dividends from that quarter.
The house Of Haggin never makes rash
promises. Father De Smet is good for
thirty cents per share per month for years
to come-when Archie Borland and his
children's children shall have been gath
cred to their last abiding place. 1t Is only
. question Of q few months when Golden
Terra, Highland, Caledonia and Standby
will enter the dividend lists. So much for
Dakota.
II California had NO other representa-
tives In the markets OF New York and Bos-
ton than Standard. II would bet creditable
showing. Its dividends have been steadily
and regularly paid. Those who bought
early, and held on, have not suffered. They
are assured Of dividends for years to come.
The Bodie District has many wildcats; per-
haps they swarm In countless herds-but
there are also good mines. which the year
1885 will demonstrate. Mr.. Lent and Mr..
Miner, who probably know a. much about
Bodie as anybody. are full Of hope for the
District, based upon their advices and ex-
perience. Altogether, the Eastern invest
ors, who have judiciously put their money
in mining stocks, cannot complain. The
return has been generous, the promise for
the future ia generous, and more money
will assuredly be made the balance Of the
year in such securities than BY Investing
In wheat. long or short. or railroad fancies.
Those who are inclined to pooh-pooh the
reports Of Western experts" rs those
from the Pacific slope. should remember
that 1t was not the reports Of those that set
such . very high figure on Little Pittsburg.
1t was some nearer home. whose ex-
perience was more theoretical than prac-
teal.
The new Mining Board is progressing
favorably, although the outsiders are
growing at what they call slow work.
Rome wasn't built In Z single day, any
more than Boston was, and the managers
Of the new Board are making haste slowly,
Better build q good foundation, and have .
solid structure, than one that q financial
zephyr can blow down. The financial old.
timers are looking more favorably upon thu
Mining Board, and quite a large number
OF the applicants for membership are
amopO tho atsIwarta ~ Wall atroot who 4