Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1886-11-22
BUSINESS AND MINING NOTES.
The Champion Mine of the World
Mining Sales-DOwnvvard Ten
dency of the COmstOcks.

From the Deer Lodge, Montana, NeW
North West we learn that the Granite
Mountain Mining Company, of Granite,
Montana, in the language of the annual
report OF its officers, has proved itself
beyond rival in the worlds history"
On April, 1885, with twenty-stamp
mill in operation, the company COM
menced paying dividends. Ten stamps
were added during the summer, and in
October OF that year thirty stamps were
dropping. On the Dist OF that month
the company paid its tenth dividend, ag-
gregating $4,000 returned to the
stockholders in the first six
months, as the product of a twenty
stamp dry-crushing, chloridizing mill.
Up to August 4th, 1886, the company
have paid twenty-one dividends, aggre-
eating $1,300,000. A new forty-stamp
mill is now in process OF building, and in
connection with the thirty stamps now
dropping, will probably be in operation
by the LIST of January, 1887. The aver
age value Of the ore milled during the
last year has been, II ounces per ton. In
addition to the above, all the eXtra-class
ores are sent to smelters. Large addi-
tons of machinery have been made in
the shape OF hosting and pumping works,
together with new compressor plant,
the whole to be run by one battery of
four steel boilers of 300-horse power ca
pacity, all erected under one roof, and so
arranged as to be handled with the least
possible expense. 1t is estimated that
the depreciation of silver during the year
has resulted in loss to the company of
1896, 800 on the 1870, l22 ounces sold.
The Eagle Rock Register has informa-
ton that the Viola mine, in Lemhi
county, has been sold to a company in
London, England, with capital of $780,
600; shares, 81 each. Since the lst OF
August last the mine has been worked
for and on account of this company, and
the vender has guaranteed that the bull
lion unrealzed working stores, and cash
standing to the credit of the company at
its bankers Gall Of which is handed over
to this company amounted on that date
to $4,000. This amount, it is expected,
has been considerably increased, as the
weekly reports are OF very favorable
character The plant which has cost
more than 5000, 900, consists of two
large smelling furnaces, machn-
cry and buildings, boarding-houses,
ore, coke houses and fuel
sheds, offices, tramway, telephone line of
sixty miles in length, and everything
complete for the transaction of large
business. The ore is carbonate OF lead,
containing from SO to % per cent. of lead,
and from 4 to 10 ounces of silver a ton.
Messrs. John Taylor q Sons, the we'll
known mining engineers Of London, who
examined this property in May last,
report the quantity OF reserves actually
IN sight to be upward Of $4,000 tons, of
an average assay per ton OF 44.92 per
cent. lead and 6.54 ounces OF silver. The
net earnings for the eight months ended
September LIST are said to have been
1929, l75.41."
The Gold Hill mine, Quartzburg, Idaho,
mas been sold, 1t IS said, to Senator j. 7.
Jones and young Mr.. Sharon for $50 600
Cars will be running to the Moulton,
Alice and Union Consolidated mines bv
January LIST.
The Virginia City Chronicle OF the 10Th
says: with the exception Of Con. Cal. |
q Va. and Potos, there was A general
but not marked decline in the quotations |
OF Comstock shares at the earlier sessions |
OF the San Francisco Stock and EXCHANGE
Board to-day. The drop in Ophir in the |
that the northern extension of the ore
development was followed into that mine
IN place OF Strengthening the price an,
parently had the opposite effect.
over 5000 shares changed hands,
indicating that either insiders or
heavy operators are taking in all
that Is offered Unofficial reports of the
situation in the Con. Cal. * Va. are IN tho
effect that the ore extracted from the new
development in the north end of the
mine is showing constant improvement
IN grade. 1t will require several weeks
driving to reach the point of interest with
the south drifts now being advanced from
the stations on the |, OG5 and 200 levels
IN the Ophir shaft. Potosi remained firm
while shares in adjacent mines exhibited
a downward tendency. Its steadiness
under such adverse circumstances is ne.
serted 10 be due to genuine merit by well
posted operators.