New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-07-24
SIN iRANCISCO CLOSING PRICES
The ChrrsoIite situation may be summarized as

The Chrysoite situation may be summarized rs
follows from interviews had yesterday by TIE
TRIBUNE reporters An ofllcer OF the company
said: There is no trouble with the mine; from all
information, from every trustworthy source, we be-
lievc the mine contains more ore and Is IN better
condition, and capable of larger out
mt than ever before. certain prominent promoter
of the enterprise, vino knew the manner of devel-
oping the mine, and also that the ore output would
bp reduced during development. unless the reserves
were encroached upon, sold the stock short, and
continued doing so, forcing 1t down to the lowest
possible point, 40 as to cover his shorts and buy
again at low figures, to be ready for the ultimate
Increased output and rise the price of the stock.
With this operators assistance combined short
interest created did not and does not scrupe
at ANYTHING III the way of false reports and rumOrs
to friQhten holders OF the stock If this controlling
spirit of the bear movement has covered his shorts,
the mine can pay dividend in August besides pay
ing its indebtedness; If not, 1t Will not. There is
one thing certain, the ChrysOllte ore re-
serves have not only not been exhausted, but,
so far as the officers Of the company concerned
have not been touched, and the niue VIII soon turn
out 200 tons per day"
A mining engineer at Leadyille writes to his IA
ther in this city is Il holder of Chrysoite stock
"Chrvsolite will probably go still lower, and then
il will rise suddenly. They are now preparing for
a larger output which will be made within a month
or six weeks. Meantime they NAV strike fresh
bodies of ore at the new shaft, where the lndica-
tOns arc now favorable, which, Manager Reyes
saws, will double the value Of the mine"
gentleman. understood to be intimately asso-
ciated with the bear movement, said: "Chrys0lite
aud Little Chief may as we'll be relegated 10 the
category of worked-out mines. Within sixty days
Chrysolte will sell at 81 per share, and neither 1t
nor Little Chief will ever again be able to pay div
idcnd If 90 cents per share, without reducing
materially. or entirely passing their dividends
when next DUE"
An officer OF prominent Trust company said "
think the whole decline is to be attributed TO bear
movement | believe that neither Chrysolite nor
Lttly Chief is bv any means worked out. The
dividends may be reduced, but they VIII still cOn-
tnue to be dlyIdend-pay ing mlnes.'
Chrysote shipped TO smelters on Thursday 1O2
tons of high grade ore.
Sxtythree bars OF bullion, valued al SS1 FOB Is.
were received IN this city from the mines yesterday.
AmIe shipped eighteen tons of first grade ore.
valued at 81 900, on Thursday. The superlntend-
ent tolegraphs that the mine is looking well as
ever he saw t. showing full body of high grade
ore.
The ore statement of the Little Chief for the
week ending July 10 shows: Ore unpaid for, AS
per last report 734 tons; ore delivered during
tons delivered, but not paid Tor, S3S tons; paid
for this month, per last report 5Si tons. $780,
800 90 ; total paid for and amount received during
month, 1,23s tons, S59.954 40. Shipments last
Wednesday and Thursday amounted TO ! SO tons.
About the usual progress was made n the work
ings of the Robinson Consolidated du,ing the week
ending July 16. Nos. 4 South, > North and South
crOsseuts at the bottom OF the incline were in fne
cut under the bottom of No. North crosscut, which
was being driven Tor the purpose of prospecting
northwest of the main incline.
During the week ending July II the DundeTberg
sold from the jIgs S2,712 As cobbed from the
mine, 1884 IS; total product for the week.
IA ,216 SO. One hundred sacks of oobbed ore were
sent to the MILL and were unsettled for at the time
of the report. and there were still 600
bags at the iigs. The mine is reported looking bet
ter than for the past three weeks. decided i'm
provment had taken place In the third level drift,
which has opened up ii inches of mineral,
inches solid.