The morning call., 1892-01-21
THE STOCK MARKET.

under active sales, and IL begins TO look II the
market had to stay. Favorable reports con
tnue to come down from the mines, the latest be-
ing from Seq. Belcher where ore is being extracted
on the llOO-fOOt level which averages 81 per ton,
which does not appear much but means a great
deal, there IS a possibility OF It's doing better.
Speaking OF the improvements In Cholar and y or
cross reported TIE early part OF the week, the Viz
gnia Chronicle OF Monday contains the following:
An Improvement Is reported in the found on
the 1910 or Sutro Tunnel level OF the ChOlar near
the NorcrOss line. The trend OF this ore body IS
said to be southerly toward the ChoIlar ground.
The nature and extent OF the development has not
yet been ascertalued
The Chronicle learned later the cause OF the
rise In NorCross, CholJr and PJ;osi this morning
caused by encounterug ore In west crosscut
in the Chollar on the Sutro Tunnel level near Nor
cross south line. They are IN about four feet. The
ore averages $40.
During the latter part OF the week an additional
force Of twenty men was added to the Hale & Nor
and Savage WORKINGS, and the New ada mill is
now beng run 10 its full capacity OF 90 stamps on
ore from those mines. The mill represents capa-
city Of $50 tons daily. Tho ore bins OF the Nor
cross full, and with the additional force tue
Nevada mills quota OF stamps can be Kept drop
ping" The Enterprise also says that an improve
ment has been made on the 1900 level Of Con. Cal.
Virginia, and that raise viii be started from
the 500 level to tap the ore developed.
On the early call The market opened with a slight
advance in prices but dull trading Con Cal X
Virginia sod at 81 80. OphlT SO 20, Mexican 81 So
Curry|Sl Az. Best q Be!cher 81 55 Union g. IS
and Sierra Nevada 81 60. In the middle stocks
Bullion sold AZ 81 30 Cholar 81 30 Norcross 81 o.
Savage 81 so and Potosi 81 IS. OF the Gold Hin
stocks Eelcher a tribe heavy at s. 20. Crown
Point 81 as, OyeTman a IS. Seq. Becher Toe and
yellow Jacket 81 20. The balance OF the list re-
NAMED steady but inactive. After the call there
was a brisk demand for the nOrthenders. CONN be-
ing a heavy buyer OF Sierra Nevada and Union.
both OF which advanced TO 81 30 under sales 900
shares OF the former and 1900 shares the latter
Rest 4 Belcher advanced to 81 70 under sales OF
$50 shares, Con. Cal. a Virginia to 81 so. 1900
shares and Ophir TO 50 IS. bi0 shares the market
closing very strong aud active a. the noon recess
In the 80 afternoon session prices continued TO
advance. and con. Cal & Virginia sold 81 80,
Union 81 80 and Sierra Nevada 81 Is, the whole
market showing healthy tone. After the call the
uorthenders made further advance under heavy
sales and the market closed strong and active.
NOTES.
Silver was steady at 92i q cents IN New York yes
The The United Verde Copper Mining Company of
ss5oSG. Arizona las declared o'S'e1a OF
Tie Pennsylvania Mining Company OF Grass Val
ley has levied assessment OF cents per share.
The Geary street Cable Company has declared a
dividend OF so per share payI bic the 2bth.
The Alaska Treadwel Aiming Company has de-
Cared a dividend Of 37l2 cents per share, or $751;
600, payable on the 18th.
Following is the oHicla report OF the pumping
operations in the Crown Point incline for the week
ending January g, 1892; The pumps have been
flow OF water through the drill-holes In the bulk
head remains about the same as at last report We
expected to be able TO drill another hole through
the buikhead by TINS time but the flow OF water is
still too much for the siukiEgpumpS. The surface
OF the water IN the Belcher incline is now 1875 feet
below the floor Of the 1900 station. The water IN
the vertical SHAFT OF the Oyerman mine is 90 feet
below the 400 sta In.
The Hale a NOTCrOSS assessment ialS delinquent
In BOARD to-day.
The annual meeting OF the stockholders of the
Sierra Nevada Mining Company was held yesterday
and was the center oil considerable interest, as II
was the first appearance OF the combination OF
brokers, who are making rather feeble effort to
control seYerAl OF the letulIg Comstock mines.
Judging from Yesterdays showing tley have gone
little beyond their province as mine managers
they were only able 10 get representation OF "a
$40 shares In stock and proxies out OF the 9S,724
shares represented. The old management had IA
OSl shares IN STOCK ana proxies ana elected four
out OF five Directors. The board consists OF
Charles H. Fish, President; Charles Herschfeld,
Nice-PreSident, and a. X. T. Harmon, HeTmon
Zadg and George W. Cope, Directors; Mr.. Cope
beug the representative OF the opposition,
T. l.. Parker reelected Secretary and A j.
Mcdonnell Superintendent. The Secretary VS.
financial statement showed credit Of 1892 90.
The Superintendents annual report is as follows:
$50 level-At the date OF my last annual report
tended 2Oq feet lhis drift was continued In a
northwesterly direction for a distance OF 362 feet
tance from shaft 57l feet From IN g point west
crosscut was started and continued to the west
wall of the vein, distance of 1853 feet, without
shaving any encouraging features A north lateral
drift was run the foot wall for distance of 66
feet and discontinued. Work was resumed in the
has been advanced 1872 feet making a total dis.
lance OF 535 feet from northwest DRIFT.
section OF the foot wall shows the first 500 feet
bediOrite followed by qusrtzite and pUTphyry.
alternating in streaRs and punches for distance of
200 feet. when separation OF Is feet was encoun-
tered. This separation, or vein, Is a mixture OF
clay. quartz and porphyry, yielding assays OF 50 OF
S. Continu ing Tor $50 rect tho general character
OF the formation Is dtorIte. Al this point stream
OF water measuring about 10 miners inches was
encountered which is decreasing gradually. The
formation beyond this water crevice is pOrphyry of
more promising character than any thing hereto
fore passed through in this crosscut.
KENOSHA TUNNEL-lh he work or repairing and
enlaTglng the KenOSha tunnel for the purpose OF
exploring tue Sacramento groupings on Cedar Hill,
500 feet below the surface was commenced June
/, 1891. The tunnel was enlarged and repaired to
its face distance of 500 feet, and further con-
tnued distance OF las feet. pass ing through hard
porphyry with occasional streAks OF quartz OF low
assay value. A drift was started north at point
765 feet from the mouth OF tho tunnel and ad-
yauced b46 feet. The formation passed through Is
vein poTphyry with some clay punches OF quartz.
The face OF this drtt Is still about 400 feet from
the point where the Sacramento CTOpp ngS should
be intersected. All operations were suspended here
on December 10, 1891.
the line between the two mines has be zen advanced
1895 feet This drift passed through porphyry
formation with occasional clay slips Tor distance
of 500 feet when clay wall 90 feet In width was
encountered, beyond which a wedehned body of
quartz 10 feet wide was found, which yielded low
assays. -
The following official letters were placed on file
SAyAGF-During the week we have hosted 653
cars OF ore from the 500, $50, ESQ 400 1400 and
1900 levels and shipped 10 the Nevada mlli os2?e
$40 90 Bullion yield for the week $3.50 g. We
continued to Stope ore OF tair quality from the
lA5U and 500 levels on the SutrO Tunnel level
the Joint north drift with the Gould & Curry
advanced 10 feet. considerable repairing and TIM
bering being necessary before starting the drift.
Have men repairs aud prospecting on the differ
cut levels.
HALE & NoRCROss. -0n the $50 level tho north
drift was advanced 30 feet total length 1875 feet ;
| the above shows some pay ore. West crosSeut
| l was extended 10 feet; total length l05 feet
| North OF west crOsscut l was advanced Is
feet; face in porphyry. On the SutrO Tunnel level