Weekly Arizona citizen., 1880-10-23

tiyity has prevailed lA '-o ---a1i5
 stock market during the present WeeA
 than for many weeks past, ailhouSn
 Fluctuations have not been WIue' ne
 +o+oi ,',,,ober of shares sold on Doth
 hoards during the week was l,V3f,5of;
 Rnsiness however. has been conhned
 almost wholly to the DroheTS tHSln
 selves. the public still Mlsely A0iuIn
 aloof. Ii was at first De!leFeu anu
 under ordinary circumstances lhe re-
 s1It wouId have shown the correctness
 of tbe ressoning-that the fire which
 occurred on Monday last in the Crys-
 elite mine. and which necessltated the
 shutting down temporarily ol me
 Crvsolife. Little Pitts5urg, Climax,
 Annie and Little Chief, would have
 disastrous effect upon mlnlng stocks'
 especially upon those immediately ln-
 volved, but as it was officially stated
 ,bst The fire was confined t0 the
 worked out and abandoned openings
 of the Crysolite, and as all the mines
 with the exception of the latter, were
 again at work on Thursday, there was
 no rush to sell and the stocks re
 mained fairly steady. Chrysolite
 has been largely dealt in' selling
 down to S3.9O on Monday up 10 S5 li
 yesterday and closing 90 day at S4' oO
 -an advance of sixty cents since last
 Saturday. The last authentic report
 concerning the mine placed the ore
 productions just before the ire al 4O
 tons per day, and no new develop
 meuts had been made which would
 warrant any advance whatever m the
 stock. As the suaits will remain
 closed a number Of days the amount
 of damage done by the iIc cannot be
 ascertained, although it IS reported
 that a good deal of ground has caved
 in and considerable damage must necessarily have been done. Perhaps the real cause of the present rise m the stock under these adverse clrcum- stances, may be found that there IS larce short interest in it. and aS the stock is almost entirely in the hands of the insiders. they have it in their power 10 squeeze inc shorts. Loans have been called in and the shorts have been made 10 suffer. In this the manipulatOrs have also been aided by the demand of dealers who have bought for a quick turn. As soon as the shorts have been forced 10 cover, the stock will no doubt find its level.
 While public confidence has been severely shaken m EeGdyi.ic mines, owing 10 the causes already mentioned in former letters. mining men still retain firm faith in the future or that district, and this feeling would seem 10 be justified by the present bullion production, and by new discoveries which are constantly be- ing made The total bullion ship meut from the smelters for the month of September amounted Co S1. 5O2, SS5, the largest shipment ever made n one month from Leadville; and there IS also reported an increase of ore at the smelters From the recent rich strike made in ihe Last Rose of Summer 1t would seem that large orc bodies are yet to be found at a ggealer depth in the side 0f Carbonate Hill than has been reached in any of the other mines. It is understood that work will now be resumed iu nearly all the on the southern side Of Carbonate Hill.
 While new investments are cOntin- ually being maGe by eastern capital ists in Colorado, New Mexico and Ar iZona mines, large yields in some of the properties and competition in the purchase of properties ID these min ing districts have stimulated search for valuable mines in various parts of the States and Mexico. Attention has been particularly attracted 10 Northern Mexico, and many proper lies which are believed to be Of great value have recently passed into the hands of Americans. The success of Ex-Gov. A. s. Shepherd in the Bato- pilas District, Mexico. hos induced a number of mining men Co make pur- ehases Of mines in the State of Dur lugo. Many mines have been exam ned by experts and have been report- sd upon favorably. Dr. R. II. How ard, one Of the exploring parties, has returned to New York, having secur- d possession of five mines at lnde. Durango, 7J miles below BatOpilas. md machinery is about to be sent here. Late Dispatches from San Francisco also mention the fact of shipments of mills and machinery to Sonora; and with the influx of ener- yetic American miners who will make lse of the best appliances for the working of mnes, it is not unTeason- 4ble to believe that before long North ,rn Mexico will rank as the greatest ilver producing region In the world.
 So far as the States are concerned here is every reaSOn to believe that Arizona the nearest ncighbCT of Mexico, will before many years be inown as the richest producer of the metals, and the various dis ricts in Arizona are now dividing with Mexico the interest of the wealth est eastern capitalists Reports of discoveries of valuable new properties nd the increased productions of old hines (like the Silver King. for in tance) are considered convincing roof of the enormous mineral wealth f Arizona.
 Recent developments made ln Nova ,cotia reveal the fact that the gold 'earlng regions Of this province also how immediate productive sections which are now attracting deserved at- ention. To a Californian the stories old about the finds there would ap- 'ear chimeriCal and such as could 'nly exist in the imagination of pre- noters and specUlaIors; but actual esulis as exhibited in the reports of | workings furnished by government l go far Co prove the actual | xistence of gold bearing ore-chan- Iels located on the sterile and unin- 1 -iting hilly ranges embraced in that l ouniry The laws governing the 1 aking up and working of the gold 1 Ields of Nova Scotia are of SO positive | nd protective a nature being wholly l nder the survillaucc of the local l overnment, that workers of claims 1 aken up there are freed from the | annoyances incident to our ! rontier mining camps. and the cost l f labor, supplies, etc. necessary to ] arTy on business is so slight com | aratively that a large margin of l