Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-08-16
RICHMOND CONSOLIDATED.
An Illustration and Strong In
.dorsement OF the Property by .
New York Paper.

An Illustration and Strong In
.dOrsement OF the Property by
New York Paper.
The New York Daily Stock Report pub
fishes cuts illustrating the town Of Eureks
and the Richmond hosting works. The
cuts are the same as used by Mr.. Anderson
in the publication of bis pamphlet. The
Daily Report has also o strong endorsement
Of the Richmond property and manage
ment. The great value Of the mine is in
no sense overstated. Its merit can hardly
be exaggerated. The Richmond is to-day
n Of the greatest mining properties on
the face Of the globe. Following is the
article Of the Daily Report:
This company was organized in 1869, in
London, England, capitalized at 81 $780,
900, in $4,000 shares at $25 each. The
property is located on Ruby Hill, Eureka
District, Nevada.
The stock is held almost entirely in En-
gland, not being quoted in this market.
The latest London quotation is f16 per
share. The property at present consists OF
the Lookout, Richmond, 'Tiptop and st.
George claims; also, large and complete
smelling and reduction works, offices,
buildings, ranches, water supply works.
and all the necessary appurtenances OF q
first-class mining company.
The production of the mine has been
enormous, and the fortunate stockholders
nave been paid 20 dividends amounting to
So, 1896 ,587. For some years, through .
Encouragement, q large portion Of the
i'm paapoa nra1nnt nf tho nina Uaa wacfo1
The mine in late years has had the best Of
management, which has steadily developed
the property, accumulated large reserves,
done a large custom smelling business,
protected their legal rights, made great i'm
provements in their machinery and work
ing facilities, and during the past year,
1880, paid a net profit Of 81 LAP, 600, or
S7k per cent of the entire capital Of the
company.
During the past year the company
smelted 81, 236 tons Of ore, with the use of 2
large furnaces; AZ, 953 tons Of this ore was
the product Of the Richmond mines. and
the balance purchased, which yielded 49,
702 or. gold, 1,064, 610 OF. silver, and 10,-
974 tons of lead; the grand total value Of
the product was SO, 600, 900, the expenses
for separating, refining, etc., left $780,
900 net value for the year, from which the
cost Of mining and handling were 81 $780,
900, leaving q net profit, as before stated,
of ST. ,142, 900. The average assay Of ore
was S68 IL per ton, as against 1858 IL last
year. while the working expenses OF min
ing were reduced from S11 02 to 50 So per
ton, and Of smelling from Sl3 16 to S11 81
per ton. The net increase of profit for the
year was $500, 900. Twelve hundred and
twenty tons were smelted on an average
per week. The total output for the year,
in tons. was IL tons gold, 48 tons silver,
and IL, 500 tons lead. The company re-
Gently won their suit with the Albion for
property claimed by the latter. The AL
bion has appealed, but, whatever the final
result may be, the value Of the Richmond
property will not be seriously affected.
In presenting these magnificent results,
our only feeling Of regret is that the stock
is not held in this country, and that we
have not more Of our mines under the
same kind Of management.