Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1882-06-14
THE RICHMOND MINE.

THE sRICIkMOND MINE.
What the Directors Say i'm Their
Report of the Last Years Work.
The Report of the Directors Of the Rich
mond Mining Company, prepared for pre-
sentation at the meeting on Tuesday next,
is accompanied by the usual elaborate aud
exhaustive accounts, and states that the
mining profit for the year is f106,6 O4 13s.
3d., and the net profit EOS ,916 lbs. lid,
says the London Mining Journal of May
81. This profit, though far short Of what
was made Last year, is not unsatisfactory,
bearing in mind that the works were closed
seven weeks for the purpose of rebuilding
the furnaces and o%verhauling and repair
ing the machinery; that the yield Of ore
throughout the year averaged $40 Al per
ton instead of $50 %, and that for a por-
ton of the time one large furnace only was
at work instead Of two. The profits for
the previous year were exceptionally large
(f236, O42), and it is not often in the his
tory of a mine that the profits for a single
year amount to S7h per cent of the total
capital as they did then.
Out of this sum of eos, GIG 13s. lid,
and the sum of f149, 351 Is. 5d.-the bal
ance brought forward from last years ac-
count-the Directors have carried f25, 900
to the reserve fund, which now stands at
ELS, 200, and have paid during the year
five dividends, amounting together to
f162, 000-f10, GA 1Ss. extraordinary ex-
,nr,n, - E,.ola -, ,.,AI H.
defence of the mine and purchase of sum
dry mining claims; 81 900 for water rights,
and EGO, 900 in settlement of the suits with
the Eureka Company, leaving a balance to
the credit Of the revenue account on Feb.
% f26,3 1852 1Ss. 4d. During the year
35,51S tons Of Richmond ore, 1,G43 tons of
purchased ore, and 4,055 tons of pur-
chased Stag and poor ore used as fuxes,
have been smelted by the two large fur
naces, and $3.50 tons Of low grade Rich
mond, Alt tons of purchased ore, and
1907 tons of fux by No. 4 furnace, to-
gether with the Dresses from the
refinery. The total production for the
year from all tho furnaces is 26, 1872 ozs. of
gold, 848, 952 ozs of silver, and 1892 tons
of lead. The item for fuxing ore appears
for the first time in the accounts; it con-
sists principally of Stag from the furnace
dump of the Hoosac mine, which the
Richmond Company have purchased.
The amount received during the year
on sales Of gold, silver and lead is f412,-
119 5s 3D., and the estimated net value of
the bullion in transit and at the works,
unrealized on Feb. %, 1882 latter allowing
for all unpaid refining and marketing ex-
penses) is f206, $50 Is. Sd~.--together $685.
1919 So. 5d.-from which has to be deducted
the value of the bullion in hand Feb. %,
1881, then estimated at f199, 299 IS. 3d.,
and f73,237 las. Sd. paid for purchased
bullion, refining, %freights, commission,
brokerage and other marketing expenses,
f345, 662 IS. Id. as the net value
of the bullion produced in the year. The
cost of mining and hauling ore to the
furnaces, dead work, smelling, purchased
ore, renewals and repairs, and all other
working and general expenses at Eureka
being $685. ST. 14s. Sd. The profit for
the year on mining, smelling and refining
is. with f813 19s. 10d. received for sun
dries, f106, 604 13s. Sd. Comparing these
the corresponding figures Of last
year, it will be found that there has been
a decrease of 1858 tons in the quantity of
ore smelted, of 20,764 ozs. of gold pro-
433. 1913 ozs. Of silver and 5,204
tons of lead. The decrease in the guam
tity Of ore smelted is consequent upon the
having been shut down for seven
weeks for repairs-and one large furnace
only having been run since Feb. 6; and
the decrease in the quantity Of gold, sill
yer and lead produced arises partly from
the same cause. and partly in consequence
the average assay Of the ore being
S53 4s per ton only, as against 500 II last
year. The yield per ton OF ore iRiohmond
md fnyrnhono1 fnoofbarA hoa haap tb,s |
year $40 al, as against $50 % last year.
The bullion has realized 10 per cent of the
standard assay value, as compared
with 75A per cent last year.
The working expenses of mining have
from 50 So to $40 AZ per ton,
and the smelling expenses from Sll 81 to
$13 81. Compared, however, with former
years, these expenses show a decrease.
The increase in the smelling is caused
principally by the higher price of charcoal.
The refinery has been working s~atisfac-
torily, and has treated the whole Of the
bullion produced, and also 372 tons Of
bullion purchased; the expenses have in
creased slightly from $14 % to S14 ~
per ton. The cost of rebuilding the
furnaces, Of repairing the whole of the
machinery, Of providing a new steam en-
CINE, q new Baker blower, a new rock
DTehheIy anu OtlNeT new llhClllely LdNc
been paid out of revenue; as also the sum
of FL 1000, paid for the purchase of spring
and water rights. Large sales of lead
have recently been made, the stock at Eu-
reka unsold being now reduced to 9,615
tons. Great difficulties have hitherto ex-
listed in getting the lead to market; a con-
tract, however, has been arranged with
the railway companies for its transport,
and it will be forwarded more rapidly;
8 1000 ton have lately been sold at 81 IS
per pound in New York (f19 Ss. per ton
Of 1000 pounds; the price is now about
ego per ton.
The cost of dead work in prospect
ing for the year has been eli ,669 19s. I'd.
Explorations are now being made in all
the levels, and favorable indications for
ore nave been met with in several places;
in the 200 some good ore was discovered in
Februsry-which was found to connect
with what is called the old fiat chamber.
1t must be borne in mind that the ore in
the Richmond mine occur in large irregu-
lar deposits or chambers, about 20 of which
nave now been discovered; there is little
or nothing to guide the miners as to the
position Of these chambers, but they may
be met with at any moment in any of the
levels-there is q large extent OF ground
yet unexplored both above and below the
60O-and this work is being proceeded
with theoretically by the aid Of four Bur-
leigh rock drills and air compressor.
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