The river press. [volume] (Fort Benton, Mont.) 1880-current, 1884-05-21

The Profits of Mining.

From the report Of Levi Newcomb
NJ. f., Of the Hudson Mining company
upon the Neihart mines the Livingston
Enterprise extracts the following later
esting statistics
The question has frequently been ask
ed, does mining pay? Let us compare
the profits OF mining enterprises with
those of any other industry. First we
will take the Virginia Consolidated OF
Nevada, which is only 740 feet long.
The 500 shares sold to the original in
vestors for SO each. In two years time
it paid to $40, 900 stockholders the enor
NOUS sum of So, 1922, 900 in gold and silver
over and above all expenses. Then
comes the Belcher with | ,O4O feet, 500
shares sold at first for So only per share,
and it.paid in three years time to 104, 900
sharehold ers SIS, 397, 200 above all ex-
penses. The California Mining compa-
ny paid ST, SOC, 600 to its stockholders in
seven months time. The Boston & Col
orado Smelling company's 500 shares
are nov worth 5000 each. In the year
1873 the Comstock lode paid its stock
holders $50. 900, 900, or II, 1872 times more
than the original investors paid in. The
Palmillo mine produced $26, 900 per day
for five years when it was stopped by
water; it again produced $50, 875, 900 in
ten years, and since 1871 the annual
yield has been $13, 400, 900. The Par1al
mines, Mexico, have IL record of having
paid the Roman church $500, 000, 900,
while the Santa Eulalia has a like rec
ord of Sl10, O0O, 900, which was ten per
cent. of their clear earnings. The Bat
opelas mines, now owned by Wells,
Fargo & Co., paid before they bought
them $40O, 600, 900 net to the owners and
workers. The Calumet and Hecla have
enriched their stockholders $24, $50, 900.
The HoElestake has paid So 12, 900, the
Horn Silver, $4,000, 600, the Idaho, 49,
All, 900, the Northern Belle, 1851, 500,
the North Bloomfield, $2,462, 500, the
Ophir, 81, 595, 900, the Ontario, $1,000, 900,
the Quicksilver, $3,610,00 the Conven-
ton, of Arizona, oyer $1,000, 900. The
Plumas, 81, 730, 1892, the Richmond, ST.
043 SIS, Robert u. Lee, $3.50, O00.- The
mines of Colorado alone had produced
$40, 5S4, 1872 up to the first of January,
1882, and since then, $43 $50, $50. The
following five Montana mines which
have only recently been opened show
the value of property in this territory,
viz: The Alice Gold and Silver Mining
has palu ten ~ulVIuenuS aIl-
bunting to $500, 900. The Boston & Mon
tana has paid seventeen dividends
amounting to $4,000. The Hecla Con.
Mining company has paid dividends
amounting to $567, 500. The Hope Min
ing company has paid dividends am
ounting to $124, $50. The Original Min
ing company OF Butte has paid divi-
dends amounting to $S7, 900. These
figures come only from the corporations
and stock companies, and represent only
the money that has been paid to stock
holders and do not represent the mil
lions that have been mined by individ-
uals, neither do they represent the three
billions eight hundred and thirty mil
OF gold taken from the placer
mines since 1948. Within the range of
rifle shot Of Leadville, Colorado, more
gold and silver has been taken out in
the past few years, and as clear profits
to the miners, than has been made
clear by all the farmers and all the mer-
and all the manufacturers, in
any five states west of New York.
When intelligently conducted and we'll
managed, there is no business in which
can invest that will pay SO large
for the money invested as in
telligent and persistent mining.