New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-08
CLOSING PRICES OF CALIFORNIA STOCKS
SAN FRANCISCO. Wednesday Sept. 7, 1881
lBY TELEGRAPH To THE TRIBUNE.l


acceptance OF the responsibility attending the
exploration il due to ambition to be the discoycrrr
IN the event OF bonanza being developed. Cheer
ing news of progress IA all the Comstock mines is
daily being received
The total progress of the south lateral drift sutro
Tunnel. for August was 293 feet, ging the face
of the drift within 275 feet of the north line Of the
l'elcher The ore vein in the south lateral drift has
been drifted on 33 feet north and 81 feet south
Two cross-cuts run near the north line, show the
vein II feet wide, fcer bein6 fair looking quartz
Argenta has been assessed 10 ceuts per share.
Bullion valued at $4,000 30 was received in this
city yesterday from the mines
The prospectus of the Menlo Gold Quartz Com
panv, which has just been received shows that ths
company organized under the laws of New
York with capital of $1,000 900 in 200 600
shares. The mines of the company are situated in
Grass Valley the richest gold district IN Canfnrnia
The company owns seven mines-thc Homeward
Bound Wisconsin. Illinois, Trinity. White Oak.
Bowery and Pennsylvania-all but one of which
(thc lennsy lvanla lis alone the line of proposed
tunnel by which they will be ntersected These
are all valuable mines, but lying in u wet bnsin
has been interrupted. awaiting united action on
the part of the owners to drain the ground. Expe-
Grass Valley mines is very troublesome but where
this can be drained of at depth OF from 100 TO 300
and can be easily handled. A tunnel one mile m
length would drain the mines mentioned M
avcrtlcal depth of from $50 to 200 feet, and would
also serve as a highway on which to remove Orc
Work on this tunnel is to begin at once The mines
embrace about 1000 feet OF ledge. Five vertical
shafts aggregating 135 feet the different claims
have been sunk. and two incline shafts aggregatinp
$50 feet. The ledge in The different mines averages
from IL inches TO 4 feet in width and the total
yield has amounted to about $500 600 the o,n
running from SlS Ier ton III the IIomcward bound
to SlO5 per ton in The Trinity. 1t ~ reported tuat
strong and capaclous pumping and hosting works
vii be put up the Pennsylvania which Il ON The
Idaho belt and near this famous mne-and tho
new works are expected to be in operation before
December next. The above properties are under
the management Of Clark a. Boutwell, of this CITY
whose success in tho Starr-GIOye, StormonI and
other properties warrants the belief that this
prise will be a successful one.
The Copper Queen Mining COMPANY shinped
from San Francisco September 3, lis, 600 pounds
copper bullion
Green Mountain superintendent reports that the
suphuret ledge tunnel has run further on the ore
body which shows well and ontinues strong The
main No. tunnel face heading is i'm ore The
general condition of the deepest workings ia most
satisfactory. The drifts and slopes in the nnner
mine are yielding the regular ore supply and ihe
mills are running regularly and are doing good
work. e e'
Old Dominion Copper superintendent reports
August 26 that very fine ore is beng taken from
the New-York mine, the assays keeping fully mr. IN
| the average. Grading has been begun for tho
smelters so that when the rivers ~ down and the
machinery can be brought in, there will he No
unnecessary delay. On the Old Dominion the vein
| Is Improving, becoming more regular larger and
| richer. Average assays the face of tupnei
| 3S per cent. A Wine has been started in Old
Dominion tunnel, which will be sunk so feet when
another level will be started From appearances
| 1T il believed the ore-body will be found much
wider here than on the present tunnel Lowell