Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-02-05

would rather have You in with me
Union Is strength, more in dealing IL
stocks than in anything else y
VERY well, said Charlie; 81 an
willing to join you, on the distinct under
standing that when the stock reaches Sl5t
| will sell out, whatever you nay do. But
l do not think we have money enough fol
a safe margin on thousand shares. Their;
are about So, 500, and that would not give
us $40 share, and would like SIS in cas-,
of possible fluctuations"
| Almost any margin is safe in TIKI
present state OF the market, but rather
than lose your cooperation | viii Join you
in taking six hundred shares with 81:
margin, although it looks like weakening
"Oh, by the way" said Charlie
"hadn't we better settle that note O.
Harris, now we are in funds %
''Never mind" said Dawiish. "That
will. do any time. We can't afford tc
weaken our front at such time as this,
and we want some spending money be.
sides. Two per cent. is nothing now, and
Hart will be glad to renew if we pay the
/ interest at maturity"
| So the matter was settled, Dawlish tax
ing six hundred shares of Lone Jack, in
his own name, on marg of 50, 600, which
was ample Just then. 1t is the gambler
curse that, once his blood is tainted with
! the subtle poison, it is almost impossible
to eradicate it. The dull, everyday rules
of business life become contemplate when
such glorious possibilities are held out, and
small successes at the start are really more
injurious than defeat. In the latter case
disgust is apt to ensue, and the worsted
gambler is taught lesson which lasts a
lifetime but q little encouragement at the
beginning is sure, in ninety nine cases out
of hundred, to end in disaster.
Meantime, during those three weeks of
expectancy, the telegraph and the press
were kept steadily at work. The face Of
the drift was frequently inspected by pro-
fessors of that kind OF physiognomy, and
their confident opinions dramatically
quoted. ''Lone Jack is a mine, said one.
9 It's the boss" cried another. cit will
reach 500 inside of thirty days." shouted
third, and so on, in fervid chorus, to the
top of the scale. The stock of the mine,
with some backing and filling, on the
whole steadily advanced. 1t gave the
business an air of decent realism that
the stock should one day be quoted at
10 anu Oh Tue utAb dU ID anu tIlSn again
at l0l, but in the general outcome it was
gaining ground The 1900 foot level was
not opened to the point from which the
crosscut might be commenced within the
promised three weeks, but one must make
allowance for mistakes and understands
which are so natural in mining, as was ex-
| planned. 1t was, however, reached in
| about six weeks from the date of the last
quoted telegram, and, by that time, the
stock was quoted at l23, and had been as
high as l27. Next came this telegram
VIRGINIA. August 5th.-The long-looked-for cross
| cut in Lone Jack was commenced to-day. An i'm
mense body OF ore is in sight and every blast yields
| of experts AMI Others went into the mines, and
| Jackson had several assays made which averaged
S2l0-not much the public had been led to ex-
pect In the opinion of the best judges there will
be an improvement as the crosscut goes in.
How child.like and bland is this opinion
of those amiable judges mot named), and
after all ore which assays S2l0 might be a
good deal worse, even if the public were
unreasonable enough to expect better.
Some people would not be surprised if they
were told mine was taking out twenty
dollar pieces, already coined, while others
like paper currency better. Listen to the
Trombone
The Inauguration of the patiently awaited cross
cut in the Lone jack mine, which has been q the
cynosure OF all eyes for the past month, is an
event which we cannot allow to pass without some
word Of congratulation. 1t need scarcely be said
that it opens up for our city vista of business
prosperity which, if we are to believe existing indi
catious will be indefinitely prolonged Ii eras OF
prosperity of this ilk have hitherto been unfor-
tunatey but too short lived, there is never
theess, every reason to believe that the present
is Of q far different character. The recent
DEVELOPMENTS in the Old Judge mine, which
have obtained worldwide celebrity,
together with those now in process of being opened
in the Lone Jack and adjoining properties, give
every assurance that the deeper we deye in our
ineXhausi ble deposits the richer and more pelnl1
nent grow our ore-yielding bodies. May not
hope that when our scientific and irrepressihle corps
OF mining engineers have sunk to still lower deeps
that the whole Comstock will be found 10 be in
Guided in one vast body of ore. But to return TO
the business more Immediately in hand, we do not
think that we are going beyond the bounds Of prob
ability or violating a confidence when we express
our weilgr0unded assurance that the stock Of the
Lone Jack mine will reach thousand inside sixty
days, and that even this figure will only represent
1.-THE of the value of this inexhaustible property.
So much for the well-grounded assurance
Of the Trombone. With the help of these
loud-sounding reports and specnlations
those mines which are situated in the
vaults of the San Fran cisco savings banks,
and in which the ores are not rebellious,
were steadily worked The Lone Jack
stock at once went up to l26, and, on Au-
gust 9TH, at the morning call, it ran up to
1877, but declined in the afternoon to 1874
Before the 10th of that month it had
reached the forties and oScillated back.
wards and forwards, until on that date it
was quoted at l43 This was very try
ing period for Charlie Gould. The aiterna-
ton of rise and fall which sometimes
brought him so near the goal which he had
set for his ambition gave him hot and cold
fits, and his mind misgave him at times
that the fatal point of 80 would never be
reached. Again came those who told him
that this was only the beginning and that
the shares at $50 would not be anywhere
near the real value of the mine. He was
told that the mines would reimburse the
shareholders in that amount in very brief
period after it began to pay dividends.
AT such times one does not know what to
think; one hears directly opposite opin-
ions on every side, and each one given
with all the assurance of that absolute in
fallibility which distinguishes those who
proffer good advice. 1t is well to keep up
our courage by shouting, when we are in
the dark, and the louder and more con-
fdently we shout the more inspiriting is
the effect.
ITO be continued.