Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1883-04-08
NEVER BRIGHTER
The Prospects Of the Great Com
Comstock Lode.

San Franchise Stock and Ex
change B0aFd-suggestive State.
ments by she In sestigators-Abun.
dant Food for Thoughs.
At the executive session Of the San Fran
cisco Stock and Exchange Board on Fri
day the following report was received from
the COMMITTEE OF Investigation" regard
ing the condition Of the Comstock Lode:
To the San Francisco Stock and Ex-
change Board-Gentlemen: Your Inyesti-
eating Committee beg leave to submit the
following report as to the condition OF the
Comstock mines:
We have found IL impossible to obtain
any reliable official information with refer
ence to the condition Of the mines, and
the little we have been able to CLEAN from
that source il anything but satisfactory.
This is owing to the secrecy with which ali
exploratory work h carried on, through
the medium Of the diamond drill, which
has been extensively used in almost every
mine on the lode, while the result Of such
explorations IL kept . profound secret by
the operators who have obtained control
Of the different companies, chiefly by
means OF proxies which have been voted Il
the annual elections. While the State
laws have made 1t imperative, on the part
Of the Superintendents, to report to the
companies' officers al discoveries made
with the diamond drill. va find that they
have, 10 almost every instance, disregard
ed the Law, contenting themselves with
privately reporting such discoveries to
operators who have obtained such control,
while having little il any monied interest
in the companies. This is . matter Of
grave import TO the stockholders Of the
companies, who, while paying enormous
sums for the purposes OF exploration, are
debarred all knowledge Of, or benefit from
any discoveries which may be the result OF
such expenditures. It 10 true that reports
are made to the Secretaries Of the differ
ent companies, but they are very meagre
and treat only Of the most unimportsnt
! work going on In the mines, and where
reference 10 made to interesting points on
the lode the information given IL 30 vague
- TO be rather calculated TO deceive than
to give any proper understanding Of the
situation. From information. however,
obtained outside Of official sources regard
ing the existence Of concealed bonanza
we are inclined to the belief that valuable
ore bodies have been discovered, which so
far have not been officially announced.
But ~ we are restricted by orr informants
in the use OF this information We abstain, /
lux tu0 pkosoub ~ Ao&8ts IKOm m8klUk 6Oy
more positive statement than the foregoing.
With reference to the middle and north |
end mines, viz: all those mines situated
between Potosi and Utah inclusive, we
have to say that they appear 10 be in .
splendid condition for rapid exploration.
There has been an enormou amount Of
money expended upon these mines in pre-
paratory work, such ~ sinking shafts and
wines, and making air connections, rum
ming lateral drifts. etc., and we havs every
reason to suppose that the cost Of future
explorations in these properties will be
much less than at any time in the past. In
fact, 1t should be possible TO run these
mines for the next two years for one-third
OF the expense which the work for the past
two years has entailed on the stockholders.
These mines are thoroughly ventilated,
and. ~ . rule. much cooler than they have
been for some time past. The danger
from water 10 past, the water problem hav-
ing been solved, and the work now going
on 10 below the water belt. and the mines
ars we'll drained. Nothing but the gross
est carelessness could cause any damage
from water. So far a. we are able TO judge
from the vague reports in the different
Offices, and what reliable information We
have been able to obtain from other
sources, there Is every probability that
some Of these mines will 10 on ! dividend
paying basis ere long, and the long suf-
fering stockholders be relieved from the
terrible exactions IN the shape OF assess-
ments under which they have groaned for
such . length OF time.
These mines are splendidly equipped
with machinery Of the finest and most sub
stantial character. their pumping machiD-
cry being unequAled In the world. The
mines are opened 70 great depth, the
deepest workings being in the Mexican
and 0phir on the 8,100.foot level. They
have large and substantial shafts and
wines and are opened literally with large
drifts for about two miles, and 20 well
arranged and connected - to make dan
gM from dre = very remote contingency.
For about . mile north Of Savage no
explorations Of any importance that we
are aware Of have been made on the lower
levels until very recently. when several
crossouis were started. one of which en-
countered ore on the line Of Union Con.
and Sierra Nevada Of great promise. and
further explored Il will prove . real boz
mama. The other crosscuts 90 far give
good indications. and We expect TO zee
paying ore developed by thsr.
The Savage, Hale 4 Norcross. Chollar
and Potosi are al ready for prosecuting
on the lower levels, and the fact that in
Hale d Norcross ths9e has already been
soma good ore discovered on the 2.600-foot
level gives ~ reason 10 expect the uncov-
ering Of : body Of good ore In this section
Of the lode.
In thu Mexican. ophir, California, Con.
Virginia, Best a Belcher and Gould 4
Curry mines there u . block Of ground
about 1000 feet In hight, by over 1000
feet In width. and over 8, 800 feet in length,
which has NOT. 20 far q your committee Is
able to learn, bean crosscut or explored
In any way to any great extent. What
have bssu done with the diamond
drill and secret drifts in this block Of