The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-19
NEWSOF THE MINING WORLD.
COMsToCK MIL MEN GETTING RICH
NJ SHdRp PRACTICE


y1na1yIl Cry. New, May 1l.-while the
holders o. shares in the Comstonk mines
have boon losing money stea lily for sew
oral years. the men who work thu ore in
their reduction mills have been getting rich
Just as steadily. In some cases the mill mon
are directors Of tho mining companies. whose
ores they work at loss to the stockholders
and proht to themselves. This condition OF
things was protty thoroughly shown up about
two years ago in u suit in which Gov. Stephen
son was involved. 1t appeared in evidence
that Stephenson as manager OF a mining COM
pany. made u contract with himself as owner
OF "a mill. whereby he worked the ores OF the
mine at price per ton that paid him a hand
Bomo profit More peculiar still was the great
discrepancy between the assay value OF the orc
at the mine and the milling value. as shown in
the bullion returns. Tho ore apparently took
sudden drop in value as soon ns 1t got into
Stephenson's mill.
The public then learned that nearly all the
Comstock mills wore being run on a similar
basis, and that stockholders we're being as
sessed TO pay the mill men more per ton for
crushing rock than the ore was worth. In
many cases tho mines would have saved money
by throwing their ore away as fast as 1t was
extracted. In the days OF active speculation
the stockholders took no interest In these mat
tors as mining shares were bought and sold
on gambling basis and not often hold as In
yestments but whom stock gambling declined
and people bought shares with Wow to what
they would yield In dividends demand for
legitimate business methods In mining was
made.
The Comstock' mines are bonRnZas no longer.
except to the mill men, but they are not played
out They still contain millions OF tons OF ore
that can be worked probably il worked hon
estly. In every other mining district on the
coast SIS orc is good enough for anybody and
pays handsome profits. Comstock sharehod-
era are assessed for the working OF better ore.
They have formed an association to investi-
Eate the matter. watch the operations Of the
miners. and devise some means OF reforming
Comstock methods.
The latest quarterly reports from tho mines
contain some interesting figures. Pulp assays
OF Overman are averaged s17.39 per ton The
mill returns were only sl3.57 per ton Savage
ore assayed$22.27 per ton, and yielded only
$14.4O. or about 65 per cent. Tho Savage Com
pany lost nearly $4,000 during the quarter
by working ore that ought to have paid hand
some profit. The Hale & Norcross ore assayed
s5 T&o com 1G iS lost s s9GG6 ? the
men made money, and the stockholders have
TO pay assessments.
such losses in milling, arc not necessary or
ran mir works ~ ore at loss a only My
five per cent; Of the assay value WY other
Mills SIOulu lOSb from twenty ~ tulElS-IlNe !
and even forty cent OF the metal IN ores of
the same character is a. q question that i inter
G nrs sTe & perauses sG NAV 1 throw
some light on tho subject. A well-nlled set- |
thing reservoir ut the tau OF sluice apnenrs I
to be tho most profitable sort OF mine yet dis
covered
price OF silver has induced owners OF small
mining claims to resume operations. They !
expect II boom in Nevada. -
English capital TO the extent OF S3Oo.o0O has
been invested in candle aria and has nut tho |
mining industry upon its feet in tina; district.
ILLEGAL HYDRAULIC MINING.
SAN Francisco. May lO.-Athough hydraulic
;sder thai streams may not be filed W BY de-
briS and farming land; ruined by deposits of
places. Two monitors are in operation at Gold
Run, Chimes" are working two mines at Canon
OF these mines discharge Debris into the Amer
lean liver, Three hvdraulic mines G are in
Is at work with pie a mie be-
low low, PowHs'in enc m non Is being
renee mine at brandy CITY, and several
are renoried in orer4Iion on the Feather River I've;
was washed out recently, carrying with it Il
large quantity Of slicken- that had lodged be-
Sd all tho % SHPS @ and ss tban
the usual quantity OF slickenS Will he carried
down and deposited in the Sacramento this
The Anti-Dibris Association will call the at
tention Of the n't"d states authorities to the
Tho Whale is the name Of a new mine in
Saline valley lnyo county. The vein Is sail
to he forty feet wide assayinE $34 in gold, So
in silver and - per cent IN copper ner ton,
Benito county, has been sold 10y McQuestion u
Rayis 10 synqcaite healed Ry j. Bshop. The
sold to Eastern capitalists.
An iron mine las hecn discovered in the Ca
pole valley Napa county,
NEW MINES IN IDAHO.
If,III (Iry In II h..
are Lreparing to go on ,ELospectinG trips in
some important discoveries will certainly be-
the result. The country has been run over
some and many mines discovered. While !
there are many 10 be found and located. but
very few Of those already discovered have
gold and silver. The time for selling unprOs-
mines n%s gene o wasf OF @
also beginning to realize tina: those wanting
prospects to develop must be quick in making !
energetic prospectors this veur. This is much
better for tho country. however, as there will
and owners of undoyeloped mines,
When they learn that It is utterly useless to
viii go 10 work aud develop their prospects as
sts o't come and G invest Then the minnE dis
uirts Of Idaho will advance rs they should
10 T =" one! !i md Tries fri viii spring NJ and not
Only mining but agriculture. Will become one
Of our great industries. or course, this will
lead 10 other Industries for the support OF u
lnlgo ard rapidly growing population. Idaho
will soon be- one Of the greatest oHthe mineral
producing States OF the West
~ q. N2rcross arrived here from Boston on
pany o work the Ben Tur and other mines on
hlk Creek. six or eight miles north OF hts
Bon liur. did some development work on II,
and had a crushing made In the Deor Creek
mil, which yielded nearly $50 per ton in FREQ
gold, which gave him a handsome profit While
Ia Boston ho orGani led company known a.
the Idaho Gold and Silver Mining Company,
With canltai stock Of $LO)O.OOO, to work the
Ben linr and other mines in this district. Work
VIII soon commence in q shaft on the Bon Hur,
which VIII oa thoroughly Developed with al
y lflhre, with custom mil near at hand, IL
my Tor ~ own development. which Is
Tea more than could DO reasonably expected.
i he Ben llur holds her own 10 the depth OF
lun ieei u Il the intention Of the company to
e,oct mlii Tho other mines OF the company
SHOW ven on he surface but. AS they have not
heeu l"E"'o,ei 70 any consider able depth II Is
uncertain Iav Nyin Inn, .,,,,,t