Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1883-08-02
THE RICluMOND.



Fiscal Year.
London Mining Journal.
Tho report Of the Directors prepared for
presentation at tho meeting OH Tuesday
next, July II, states that the mining profit
for the year ended Feb. 20 is f42 1870 So.
3D., and the net profit f30,2 5 rs. Tod.
When it is remembered that during the
whole of the year one. furnace only has
been running, that the ore has been OF low
grade, and that an exceptionally large
amount of dead work has been done,
which has been charged to working ex-
penses, this result is not unsatisfactory.
Out OF this ESQ, 258 rs. 10d., with f26, $50
18s. and 4d., the balance brought forward
from last years account, the Directors
have paid in dividends during the year
f40, 500 and 81, 632 1873. sd. for ordinary
expenses in connection with the defense Of
the mine and the lawsuit with the Albion
Company, leaving Q balance on Feb. 28,
1888, to the credit Of revenue Of f14,478
IS. 3d., and the reserve Of ELS 900 intact.
During the year 17,083 tons Of Rich
mond ore and 3,451 tons OF purchased ore
have been smelted by the above furnace,
and 1887 tons Of low grade Richmond and
10S tons Of purchased ore have been
smelted by the No. 4 furnace, working in
WAbA y AOAhCA sSboA
production for the year from both furnaces
is IA, $40 ozs. of gold, sos, 1862 ozs. OF silver
and 4, 027 tons Of lead. The amount re-
ceived during the year on the sales Of gold,
silver and lead is f396, 669 12s. 3d., and
the estimated net value Of the bullion in
transit and at the works, uurealized on
Feb. 90, 1883, after allowing for all unpaid
refining and marketing expenses, is f116,-
172 19s. 3D., together f512, $40 12s. 3d.,
from which has to be deducted the value
OF the bullion in hand Feb. %, 1882, then
estimated at f206 $50 %. 3d., and f94. 367
19s. Cd. paid for marketing expenses, refin-
ing, freights, commission, brokerage, etc.,
f212, 1874 lis. ID, as the net value
OF the bullion produced in the year. The
Ct mining, hauling, dead work, smelt-
ing, purchased ore, renewals and repairs,
and all other working and general ex-
penses at Eureka being f170, 591 0s. Cd.
The profit for the year on mining, smelt.
ing and refining is. with f376 12s. Tod.
received for sundries, f42, $50 3s. Sd.
The decrease as compared with last year
is caused, not only by the falling off of the
being of low embarrassing only $40 80
per ton, as against $50 Is last year, and
$66 II the previous year. The yield per |
ton Of ore (Richmond and purchased to- |
gether) has been this year S44 10, a. against
$40 Al last year.
One large furnace was at work till Nov.
is, when it was shut down, and a smaller
one started in it's stead. The No. 4 fur |
mace, working for the refinery, was shut
on Oct. 2, the supply Of ore being |
then insufficient to keep it in work; it was, |
however, restarted on Jan. Is, and has
been at work continuously since that date. |
The bullion has realized 82k per cent of
the Eureka Standard Assay Value" as
compared with n per cent last year.
The expenses Of mining have increased
$40 48 to $13 Oh per ton OF ore ex-
but this is explainable by the fact
that whilst the number OF tons Of ore
mined have been considerably less, the
on dead work, which has been |
heavier than usual, is included in the
expenses. The cost Of retimbering
the main shaft and repairing the air COM
has also been included in these ex-
penses. The smelling expenses have been
reduced from S13 81 to $11 &C per ton.
The refinery has been working salts
$14 81 to S13 30 per ton of bullion |
During the year 10, $40 tons of
lead have been sold, the stock in hand be-
ing now reduced to about 5000 tons The
price is about Az cents per pound at New |
York, or Els per ton of 1000 lbs.
The exploratory work done in the mine
during the year is very large, and consists
OF 8. 642 feet Of drifts, 322 feet OF WINES
and 731 feet OF rises, making q total Of
8 ,695 feet as compared with 6. GOT feet last
year. These works as we'll as the smelt-
ing operations have been carried on con- |
tinuously throughout the year, notwith- |
standing that extensive repairs had to be
made to the air compressor and main shaft,
and the machinery at the furnaces and re-
finery kept in efficient working order.
The Directors regret that up to the pres |
ent time no large body of ore has been dis
covered; small pockets of good ore have.
however, been found on the 800, 700, 800
and 900 levels, and low grade ore and
ledge matter in several other places. Con-
nection has been traced in the ore from the
600 down to the 900 levels, thus establish. |
ing the fact that there is at this part of the
mine an ore channel making downwards.
The 1850 level is now being pushed for
ward, and a fissure has been met with, |
which is being followed. Some iron oxide,
assaying 50 per ton, has been found, which
is q promising indication. The limestone
is favorable for ore, being similar to that
in which the other ore chambers were
found in the higher levels. The exploratory
work in this level is slow and expensive,
on account Of the imperfect ventilation.
A rise is now being put up from the 1850
to the 900 level to avoid this. A new level
has been started at 100 feet to explore the
large extent of ground above the 200slevel.
EXPLORATIONS have also been carried on at