New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-05-10

The Crown Point Mining Company has levied an
assessment Of 80 cents n share.
The Stockholders of Tie Loadyillc and the sham
rock Mines are tu ho.d a meeting to-day tor iIl'
purpose of voting mon ia" question ol c'n-"ii'a-
lion of the two companies
The beard Of directors Of the Frccaud viii, it Is
cxrcctcd, declare their first dividend to-day.
Coal j. SAID to have been discovered M Nugg".
Gnlch four m,l"~ from L"ldyiIIc, At depth OF lis
feet WITH cheaper fuel the cost of smelling can b"
greatly reduced. and tT,tclass coal NINE IN That
yj.iutv would prove EDnlrza to it, ovpcrs.
Dead work on the Fletcher Is about completed.
Stourg Will be soon ucgtiu.
Work in the SnowdlIft Is advancing rapidly.
The main tunnel is III ~ t"rt. Material Tor III"
tunnel truck has arrived ut the MN" AMI vii he
Immediately placed. Tie fourth level tunnel on
the Dan,,l Peters" i IN 400 feet thc general
formation showing steady improvements
Tie new strike on the IT RI Bile claim RECENTLY
purchased bv the Great j. Istern, continues 10 dc-
vr"ion fayorlily The shaft Is now down on
the voln about 30 feet and lateral development -
the extent of more than 100 feet has di,d &" DIS
cover either hanging or foot wall. The ore body Is
somewhat improved IN quality.
The Mining Trust Company announces that il .,
now ready for business. As It - understood taIt
the company will recognize mining stocks rs ST.
curltv for loans this announcement has been auX
iou>lr looked for 10y the brokers aud mining people
for some time The American Mining StucR IN
change, orVani2ed under the auspices ot the rust
Company, will be IN operation ~ very few days.
Some Of the slICwdrst capitalists predict tuat
within the next three months tho mining industry
will attract NOR" favorable attention than has ever
Dpen accorded tn it IN this country.
The "mnng expert IS evidently not a faVOritc
with The LcddriHe Times. 1t says: "rhe whtest-
faced the huuEriest and the most uncomfortable
swarm of blaCkmailcIS that ever traded on human
trust are the mining experts OF LcadvIle."
In letter to Mr.. W. - Walker secretary, the
suDrriutnndent Ot the SpringNalCY Hydraulic Gold
Company says: 81 have just been through the NINE,
and liad things all right You can assure stock
holders that we have Il bg mine and lasting one,
and that move ms quick and sure toward success
as the most eXactng can expect"
A large amount of auxiliary machinery is being
erected at the Alta Montana, which will greatly
tho If mi Ir. ttttr
machinery for the Comet mIne II expected daily,
aud development work Will be begun as the
roads shall have sufficiently improved.
The total value OF bullion shipped from Salt Lake
CITY, Nav |, was TlG1O2 IN
On April o. the Bonanza Chief tunnel was III 900
feet the face being % feet from the main work
ings The tunnel ore body Is increasing rapidly,
and from 1000 to 5000 tons arc estimated rs
being in sight. The mill IS running steadily.
Annie shipments Oh May were: IL tons first
elias, ore, 8 t0ns second value about $1,000.
On Ap1l 27, the northwest drift In the Trinity
(Ncvada IN 30 feet, having exposed a cOntiurI-
GUS body of good ore, asnGylng from $2S 10 T23
per ton. and the face OF the drift still being solid
mineral. The east crUsScut from the new drift was
in % feet, all in ore Of faIr grade carrying gllena
mixed with pYritcs, but containing ChlOrideR or
carbOnates 10 IN the upper levels aud slopes The
ore in the bottom DRIFTS was running high III load.
1t is believed that the erection of concentrating
works will place the mine on paving basis. Work
on the Butte has been suspended for short time.
Tie following extract from The Acudda GIN
Transcript contains wholesome truths which apply
with equal force to other mining districts whose
good regulations ale likely to suffer from the
operations of INSCRIPTIONS persons III the Eastern
market:
"In recent issues OF The Transcript wo have taken
occasion to denOuuce the gross misrepresentation
the mint In aud about this CITY, by parties NeWYOrS
and here. The parties referred 10 appear to us IA
nc endeayOing u give fictitious value TO certain MN
lug claims winch they are endcaVOrinR to SELL by ms
representing not only the mines which they hand
ing, but also cXaggerHttng the yield OF bullion.
producing properties, All such misrepreseu do
distrC! gross injustice, and. II allowed TO 10 uI
Disputed Will eventually inure It's meritel popularity
and prevent capital, which Is necessary 10 deyrlOp
these properties, from coming here FOR investment
When published the articles referred to expected
certain experts and specuia ors engaged In making
thceo misre tauns, and prOtng by them, would
squiTIu, and this We have NOT been disappointed
Come have affirmed that We did them gross inus
tice and have desired that make Tetracti0na
or nj least notify our statements. The statements
which we made founded fact. The structure.
Just aud IN the general interest Of the fair fame
OF our mining distriet, as wen as that OF Eastern
vestors who looking for ulung properties of merit
IN which to invest. For these reasons, The TTaSeTi
has no retraetiOns TO m1ke.'
In the matter published IN Fridays TRIBUNE
regarding the Robertson Electric Ore Reduction
process IL was stated that after the sand OF pull
| had been shoveLed into the pans aud water uddcd
| the pans being changed" etc. lt should hav,
read, the pans being charged" etc. lhIs process
continues 20 attract the general attention of mInm
men, many Of whom are adopting IL for uso II
various parts Of the country.