New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-10
CLOSING PRICES OF CALIFORNIA STOCKS
SAN FRANCISCO, Friday June 9. 1882.
Yesterday. To-day
TRY TELEGRAPH TO THE TRIBUNR.l

LAKE VALLEY, n. NJ, June "a party of Eastern
capitalists, in company with prominent members OF
the Philadelphia syndicate which controls the
noted Sierra mines of Lake Valley, arrived here
this morning and spent the day examining the
Sierra Plata and Sierra Grande mines ana the new
mill which has just been completed The mil was
started this morning and works as smoothly as
clock. II is double mill, arranged to run 20
stamps 16 pans and settlers, and cost SlOO,OOO.
n il built on the most improved plan, and so eco
nomically arranged that with eleven employees from
go to 100 tons can be mllled daily. The Sierra
group of mines cover an area OF one square mle,
which is dotted with numerous outcropplngs OF rlch
silver ore Developments on the Plata and Grande
are limited thus far to an extensive cut into the
outcroppings and shafts from 40 to 125 feet deep
at Setw Se ISe a Rs and aSaS Which @
marvellous ore body in what Is called the " Bridal
Chamber" This body of ore has been followed
over 20 feet, and is from 10 to 30 feet thick 1t ID
40 rich and porous that at many points candle
flame will melt it into silver gobules: From the
working shaft of the Grande the vein dips distinct
lv toward the Plata. Professor Slillman the emil
ncnt minerologist of Yale College. to-day estimated
the ore in mine and piled ON the dump at 5000
tons, of average assay value OF lOO ounces, anu
the sacked in the stOrehouse at 700 tons, aver
aging 900 ounces In this opinion Colonel Gllett,
formerly superintendent of the Savage mine on the
Comstock conceded. After examining the Plata
and Glande mipes, Philip T.. Garrett, member OF
the syndicate, said " thought my expect atlons
were great but am highly pleased and more than
satisfied with what l have seen to-day. benjamin
H. Shoemaker of Philadelphia, also a member OF
the syndcate, said " am satisfied that
every statement made concerning the Won
derful richness OF these mines Is true" >.
Whitaker Wright, Of Philadelphia, said " The
stockholders will be agTeeaoly surprised BY the re-
suits from these mines" Among other visitors III
the company who confirmed these statements are
Expert j. W. Harper, and Howard e: Dickinson, of
New-York who first placed the Standard mine upon
the market, and Professor Cope, the wel-knOwn
geologlst Of Philadelphia. The examination OF the
Bella and Apache, the two remaining mines owned
by the syndicate, will be completed tomorrow.
SILVER REEF. Utah, June 9.1Bulhon shipments
for the past week: Christy, $9,O79; Stormont,
1884 ; Barbee Il Walker, $l,940.
The Leeds mine and mill has been attached Tor
unpaid Indebtedness amounting to some Sll,OOO.
Bullion valued at $4,000 was received in this
city yesterday from the mines.
Father dc Smet superintendent reports for the
week ending June l, that 1900 tons of ore were
extracted IRON first level 1000 tons from second
level and 200 tons from third level. During the
week 8, 500 tons of ore were mlled. The north end
tunnel is in 900 fee, the west crosscut tramway
level is in 1911 feet, the Golden Gate crosscut is in
9S feet and the Gold Gate header is in 113 feet
The Golden Gate rise No. 2 is up 46l2 feet and
Justice drift Is i'll 1862 feet