Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-02-08
PLACERyILLE.
Lively Times Anticipated There IN TIL
& Ix,l

Lively Times Anticipated There In the
Near Future-A Grand Jubilee.
| A gentlemen who came down from FL
Dorado county yesterday says the outlook
for that section was never so bright as at
present. II is well-known fact that the
mother lode, which is so rich at Plymouth,
Suffer Creek, Jackson and Grass Valley,
passes through Ell Dorado county in the
immediate vicinity of Placeryille, and the
mines so far as prospected yielded reason
ably well. The FL Dorado Water and Deep
Gravel Mining Company some years
ago bought up all the available canals and
mining property they could IN that section
Hundreds of miles of bitches, scores of
gravel deposits and dozens of quartz mines
many of both the latter having been paw
ing handsome dividends since the early
SOS. The property was incorporated in
England by company which issued bonds
for supplying all the money. The amount
of the bonds was exhausted before the
property could be developed, and no more
bonds could be placed The bondholders
and stockholders were largely interested in
hydraulic mining, which was completely
stopped by injunction, and the opinion
among them became current that there was
no guarantee against injunctions in any
case of mining. The bondholders would
| advance no more money on bonds which
paid no interest, and were apparently
wholly insecure.
The result was that all their mines were
stopped and some 500 men thrown out of
employment. These mines have been w.
ing idle for years, but now all are to be
started up again and many more developed
A new English company, with millions of
capital, has taken hold of this corporation.
and word has been given to advance all
along the line. Professor Thomas Price is
at the head of the new company. He is
personally c0nversant with every mine
they own and realizes their great value.
On Wednesday, at a given signal three
mills within the city limits blew their
whistles, something they had not done be-
fore for years, and the locomotive whistle
at the depot joined in the jubilee. Already
number of foremen for different mines
have been selected, and more men will soon
be at work on that divide than at any time
in the past twenty years.
Last week the new company bought the
Parlow quartz mine on Big canyon for
$11 600 cash. and the Keegan mine within
the city limits for 5000 cash.
A dispatch from our local correspondent
at Placerville last evening says:
The event of the day for Placerville is
the re-opening of the Pacific mine, which
has been closed down for nearly ten years.
They resumed work to-day amid general
rejoicing. The incoming train from Sacra-
mento came curvetipg around the hills with
open valves, producing unusual sound,
when the refrain was taken up in every
part of the city by the ringing of bells,
blowing of whistles, firing OF lannon's, max
ing din and creating a commotion that
could only be justified ON an event of some
great public good. Professor Price, Presi-
dent of the new company, is on the ground
busy with his lieutenant distributing men
and material along the line of mines for
three miles, and will vigorously prosecute
the work, giving employment to hundreds
of men, which assures to Placerville per-
manent and lasting prosperity"