New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-06-07
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S.>FnAvcI>co .Innr G.-Thc latest adyicc~ from
Gold Mountain ar To- thr effect that III" STATE Line
anu Oriental and Miller mines continue 10 show a.
Nori Bis. WORK ON the mills and thc lay my 81 the
va rr-pip" ar. rapidly approaching conp!' non
Nh =, ain.. au Eastern expert who has j. ~ III
surctiug mines ~ sonora. MrNicO, ana ~ Arizona
lrf ioY tiuld Mountain SATURDAY.
The Alta shaft g. 1000 feet deep and il sinking
n tL. rlfc of fnuf ami onc-ha'f fr.t daily.
Two cr">~cuts have been started M the Forth diit
Of the :, 800 level %, the Sierra Nevada
Hnliion valued at SOL 1877 - was received in this
city yesterday from the mines.
The Copper Queen Company ON saturday shipped
3O7,OO0 pound, OF cnpf'i from ,aa francisco To
Ncw-lurk.
Catalpa superintendent tclegraph,: The new
strike of rich ore opening mp well.
Ontario silver Company product for the month OF
Nav was $lGo,3Ol 33 assay value. thr mill having
nrnn closed eight days for cleaning. The prndu't
from January l to May 81 tive montlS) WAS
$3.50 gOO 81
mia manager tclcuaphs; Ore shipped
during Nav 40 tons: receipts for 81 tons settled
for Si1.973 Gl still unsettled, 10 tons; ore Shipped
sir,c Iunr / ~ tons; making total on hand I'M
settled for oi - tons If same grade ore ns That set
fled for laVcragc value about S2l ,Oo. LAR ing ont
ore every day from the lihernia shalt aud think
before clos Of june viii take good ore from May
III rs reported that the concentration crushcr and
tranway of the Allied mines viii be completed ,y
trioicr /. " hen the company VIII have one "l TN"
br.t equipped properties ~ san Juan.
Bcwarc of jSilousl Is AL vice which might VIII he
o,rlieJ Ia M Ncw-lork and American Mining
lizards one Exchange decides 10 list a mining
stock and immcdiatclyi has passed the argls-eled
Stcck List Committee the other Exchange AZ once
proceeds 10 place IL on its FREE List II - SAID
'compctiton is the life of trade but the author of
this prnvcrh undoubtedly never hat any experience
i'm mining stocks or Mining boards Their devious,
winding. intricate ways would have puzzled even
man with an cndlcss silkcn thread tn lead him from
The labyrinth. Onc of the latest and most anus
ing illustrations Of this provrrh-eNrcpt
to the unfortunate brokers seems 20 be- the stock of
the Cedar Tree Mining Company OF Arizona, which
was listed by the American Exchange, although
III, st earnestly objected toby one of the best in
formed members of its Stock List Committee some
three months ago '1hewupOn the Ncw-lOrl Board
placod the stock on rs Pre- List The result seems
To have been disastrous TO quite u number OF bro
kcrs on both Exchanges, several having been obliged
To ask Al extension yesterday. The duty OF Stor
List Committee, ~ generally understood by the
public Is to stand between the public and the mine
hsharp,n and in this ease, it is claimed, the
Stock List Committee referred To did not
do its duty. According to the aihdaylts
$40 600 was in the treasury of the Cedar Tree
Mining Company nj the time application was made
10 have its stock listed the American Board
sine then two dividends of cents per share have
been declared upon the entire capital stock OF tho
company and though the stock has been regularly
dealt in upon both Boards at about ~ 80 10 ~ 20
per share, few takers were found yesterday az .
cents per share. The reason given for the sudden
COLLAPSE by those best informed il that one of the
"insiders "a member of one Of the Boards and a
large operator In the stOckcolcctcd all the money
possible on Saturday and left his contracts unpro,
vidcd for Az n result, several of those who trusted
him on account of the company or the company
on account of him, were in trouble yesterday. IL
sudden deaths" in mining stocks required the
presence of coroner. it is hardly necessary 10 sug
gest the probable verdict in such cnse. Criminal
negligence" on the part of the Stock List Commit
tees Of the Mining Exchanges would be, to say the
least a charitable one. The public should certainly
hold the Mining Boards TO q moro rG4d accountable
ity for the stocks which they admit 70 their Lists
than il has hitherto done.