Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1883-06-01
SENSIBLE TALK.
A Vsice From Mineral Hill ON the
Mining Situation.


MINERAL HILL, May %, 1883.
Ed. SENTINEL: During the present want
Of confidence manifested by the Eastern
people and press in all mining matters
and which is, Of course, Q natural sequence
10 the era Of wildcat mining swindles
which have had such q run in the East for
several years, and which may be said to
have originated with the discovery Of the
Leadville mines-when the money centers
OF the East were invaded by . horde OF
spectators Of high and low degree, and
sedste deacons in country villages were in
duced to further the schemes of designing
m~anipulators by distributing glowing pros
pectuses setting forth the fabulous rich
ness always prospective) Of some hole in
the ground, and dispose Of worthless GER
tificates in some gigantic mining swindle
upon their too confiding brothers and
sisters in the church-it is gratifying to
note any instances where capitalists now
have sufficient faith and nerve to invest in
any meritorious property. So extensive
have been the sales OF worthless mining
stocks upon the public, and 80 persistent
and obtrusive have been the promulgators
VI INC bCuouucS, tudt tuo meEo mcutAOu VI
q silver mine in the East ct present Is IL
able to call forth q volume Of ~expletives
more forcible than elegant, in many inst
ances, and tends to throw Q metaphorical
wet blanket over the most venturesome
mine owner who now has the hardihood to
60 there with a view Of disposing OF any
mining property.
COYOTE HOLES.
1t may be said, and is undoubtedly q
fact, that not more than one per cent Of
the so-called mines floated on the Eastern
market during the era Of crazy speculation
mentioned had any money value whatever.
Lime boulders and coyote holes could be
sold for Q few hundred dollars, and were
dear at any price, whereas mining property
Of any value could not be bought for such
figures 10 would-be incorporators were
willing to give. As q matter of fact, it
was not essential to have o mine to be able
to dispose Of stock. 1t was only necessary
to have plenty of ground we'll mapped and
nicely studded with reefs for immense
ore croppings,"a bogus report, millions
in sight, plenty Of promises, and away she
goes and the child is born. It has a fitfui
existence, and cooked up reports from the
property managers to sustain life until the
greater part Of the stock is Opposed Of, and
no work having been done to develop the
prospect in the meantime, the child is al
lowed to languish and die, sometimes with
the galloping consumption, but more su-
ally q slow, natural death, and remem-
bered only by the bereaved stockholders
as q victim OF circumstances over which
they had no control.
WILDCATS
Have held the sway over legitimate min
ing in the East for such a period that it is
next to impossible to dispose of any min
ing property at a reasonable valuation.
We have the satisfaction Of knowing, how
ever, that the wildcat schemes have very
nearly run their course, and that most
mines of merit are still held for sale at
reasonable figures, or are quietly being
developed and proving remunerative to
their owners. When the reaction for the
better permanently sets in and investors
recognize the fact that to be sure Of buy
ing q mine il would be policy for them to
organize small syndicates, spend Q few
shekels in visiting the property and look
ing up titles, and above all to purchase
direct from the miners without the inter-
vention Of middle men, which can be &C
complished to the satisfaction Of all
parties, and withal Q saving Of 80 per cent
to the purchasers, and when the business
OF mining is conducted on the same prin-
ciple a. any other business IL. then we will
have an era Of permanent prosperity
throughout the West which will not only
increase the revenue OF the mining States
and Territories. but will make many q de.
spondent mortal rich, who 10 o be.
moaning the loss OF rolls Of greenbacks,
and whom questioned by some sympathetic
soul - 70 his detected mood invariably
answers, "Ruined by Wildcats"
CHRISTIE.
This company operating here 10 com.
posed principally OF New York capitalists,
and illustrates a case in point where . dis
position IL shown to work o property on
its merits In standardization to some
others which we may take occasion to men,
ton ct some future date. Since opera
tons commenced under the present man
agement work has been carried on system
atically both ct the mill and the mines,
and II IL believed from 90 to rs miners will
bresk enough ore TO keep the mill run.
ming during the Summer. They have q
day md night shift In the mines and the
nill 10 working about 20 tons Of ore per
day.
TIE ALL
Ten tons Of ore from this mine were
shipped Q few days ago to Chicago to be
tested by . new process, by which It IL
claimed the cost will not exceed more than
one-half the cost OF reduction In the pres
emit style Of furnace. This properly IL
partly owned by Chicago parties, and Il
the new process In treating the ores proves
o. successful ~ anticipated we will proba.
bly, have furnace erected In this
immediate vicinity this Summer. II IL
believed this mine can easily keep q 40
ton furnace In operation. The ore goes
high In silver and contains from as to so
per cent lead, carrying too much base 10
mill. Should one furnace be built We
would quickly have several others to work
the immense quantities Of smelling ore
throughout this section. There are q
least 40 mines within . radius OF 10 mile,
all Of a good quality Of smelling ore, and
with the advent OF reducsion works In all
probability half Q dozen furnaces could be
kept In full blast upon the ores Of this
vicinity.
OTHER INES.
Two organizations have recently been
perfected In the East TO work some mining
property about nine miles northeast Of thil
place. What they have there 10 beyond
our present knowledge; but the natural
presumption 10 that they are on the SAINT
mineral belt which runs through Union
District, and II such should prove to bt
the case, there is a probability Of their do
veloping some good mines. The organi.
cations are known ~ the Montexums and
Silver State mining companies, Some oi
the officers Of the two companies are OK,