The morning call., 1892-06-02
THE STOCK MARKET.

At no time for six years has the mining stock
market had such weak and distressed appearance
as was shown yesterday. Prices were lower than
ever and despite the scarcity OF stock claimed by
many OF the brokers' there was enough TO go around
at much lower prices.
News of good character continues to be received
from the front. but what does it avail, as the In
siders viii not put any money in the market, and
seem be doing their best to depress prices to the
lowest possible point suits OF similar character
TO the late Hale NOrcross suit Will, In all proOa-
billy be commenced against the managers OF hye
other corporations during the week, and 1t Is hardy
reasonable to expect that with such an outlook
ahead prices are going TO advance. Never before
was there such opportunity for deal In the
nOrth-end stocks as there exists at present Con,
fdence Is expressed ia Mr.. Floods management OF
the mines In this quarter and there Is suihcieht
development TO assist him in deal we're he 10 cut
loose from other COMBINATIONS, anu 30 III VI MS
en- the early call many stocks were traded H. but
mostly In small lots Ophir sold at 81 90, Mexican
81 10 curry 81 TO- Best 4 Beleher 81 10, Sierra
Nevada 81 is Union Il 05. and Con. Cal & VIZ
GINA 81 TO sales OF $50 shares. OF which Walls and
Morrow were active sellers In the mlddle STOCKS
Bullion sold at 6Gc Cholar SOC, NoreroSs 81 Az,
PotoSl roc and Savage 81 80. The southend stocks
were heavy ana Alta declined TO S5c, Beicher sue.
Confidence 81 80, Crown Point 81 H. overmah
40c. aud Jacket SOC.
shaded of stu further and closed topheavy al the
noon
along the line. Stock plentiful. and one or Two
brokers seemed to have unlimited selling orders
but the supply exceeded the demand After the
call prices were steady. but trading was dull aud
the boards adjourned at an early hour.
NOTES
Bullion valued at s4S00 has been received from
the Mayf0wer gravel mine.
The assessment Justice is delinquent In the
The spring Valley Water Company has declared q
dividend of so cents. payable on the 10Th.
The Pacific Lighting Company has declared
dividend OF so cents, payable on the oth
w L. White has been proposed Tor membership
in the Francisco Stock Exchange for the scat OF
George r. Marye Jr has retired from business
and o. w. MaTye VIII take his place in the firm,
Silver was mu h stronger Yesterday, bars selling
at SS14c In New York and 4O3sd In London.
At the annual meeting OF the stockholders OF the
Silver Hill mining company % $50 shares were
represented and the following officers elected for
the ensuing year: A. h, I. harmon, president
Charles Htrschfsld, vIce-presdent and w. f. Dean
q G. Harvey and c. 4. Elliot, directors D. c.
Bates was reelected secretary aud A. Z. Hamilton,
superintendent. Tho Secretary's statement showed
The superiStendent's report for the past year is
as follows: On the so level the southwest drltt
from the shaft has been advanced $50 feet to the
fOotwslI Lying on the south wall was 10 feet OF
mixed gypsum and quartz which occasionally yield
ed good assays but a whole was or too low grade
to extract and mill at profit. On tho line OF the
foOtwan a drift was run north 10 the ledge dis
lance OF 200 feet ithout any improvement In the
quality OF the quartz On the ! 90 level the north
crosscut in the east DRIFT 500 feet north Of the
| shaft has been extended 20 feet; total distance
$50 feet south croSscut was started opposite the
north crOSScut and extended So feet Both OF these
}
the Wine was advanced 90 feet following stresk
OF quartz Is inches wide, which contained 0cca-
siona punches Of good ore. We opened up and ala
| considerable exploring NorA IN the oI1 hIISe
slopes and encountered several patches OF fair ore
which was saved ana slowed 10 the mine The
wnzs has been sunk to the go level, fol-
lowing streak of quartz and gypsum, showing
| punches of good ore. on the 334 level the south
crosscut $50 feet rom the shaft has been advanced
So feet total 200 feet without eBcouatering any
thing OF value. on the 29th OF December, 1891, we
closed down the Silver Hill shaft as we found we
| could do our work much cheaper through the jus
tice SHAFT. We reOpened the south DRIFT from the
Justice SHAFT 49O level to the north line OF the Sill
yer HiIi From that point q drift has been ex-
tended south a distance or 80 feet, following a
| ledge of cvUsum aud quartz which shower punches
OF fair Weintend TO extend the drift so feet
further south and croSSCut under the Hlyer slopes
where we hone 10 fnd ore that can be extracted at
| a profit TO the company. On the 90 aud 200 levels
we have slowed considerable amount OF ore
vrbich we extracted while exploring the Hiilyer
stopes also from the different stresks ana strata
followed these leve s. We think all OF this ore
| can be mued at profit to the company. All the
buildings. machinery and everything connected
with the mine left in good condition at the
time OF closing down the WORKS
The following official letters we're placed on ME
'SUmgfT-North DRIFT 100 level was extended 7
| feet. The main incline shaft was cleaned aud TIM
MoNo-North drift from west crosscut 500 level
was extended feet UpTaise from east crosScut
same level was extended II feet; there, IS very
4 rich seam OF IN this upraise. West croSscuI
/ from north drift same level was extended II
| feet We are taking out pans aad settlers al the
Bulwer mill and moving them TO the Bod1e.
| BODIE-EaSt crosscut IVO leyei was eAlrhuea
| feet East crOsseut l $50 level was extended
feet North drift from east crosscut from above
| lever WAS extended II feet, We have seam OF ore
ia this drift that very good. Upraise above the
1 200 level was extended feet. South drift from
above uDraise extended feet. There is about
| inches OF $50 ore IN this drift.
BULW ER-East crcsscut from south drift from
! No. upraise extended feet. Have started
| an upraise about 80 feet south OF No uprase
| a seam OF ore and extended IL feet. South drift
from east from main north drift 100 level
was extended feet We will commence TO crush
ore soon get pans and settlers In at the
Bodie mill.
| SAvAGE-During the week have hoIsted 527
cars Of ore from the 800 $50. 100 400 and l450
| levels; shipped TO the Nevada mill 525 tons and
milled 525 tons: average caT-Sampe assay, S23 10;
average battery essay S2l % bullion yield FOR the
week. S7S2Z 90 Q are prospecting on the differ
ent levels On the SutrO tunnel level we have tenn
porariy discontinued WORK in the Joint north drtft
! on account OF bad air. To remedy this we have
started Joint uDFsise with the Gould q Curry Co.
| from the main SutrO tunnel. TO connect with our
north drift 1900 level The completion OF this
work will furnish good ventilation and enable us TO
resume work the lace OF the joint north DRIFT.