Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-12-16

THE DIAMOND AND EXCELSIOR.
Two Companies Registered Under
n Incorporate Laws Of Utah Ca
work Eureka MInes-Stout Hearts
and willing Hands 20 sustain Oar
Fair District Through the Hard
Times.
Last week the announcement was made
that the Diamond aud Excelsior Mining
Companies had fled articles OF incorpors-
tion in Utah, with their principal place OF
business at Salt Lake City. to operate two
groups OF mines and claims in this dis
,rict. We had been advised over . year
ago that this step was contemplated. but
when the news came that 10 had been car
ried out, we thought best TO await the re-
ceipt OF fuller details than we're then at
our command before publishing anything
10 relation to the matter. We o have
all that can be said at the present writing.
The object OF incorporating was simply to
put the mines and their operations on o
thorough business basis, and the plan
would nave been carried out long ago had
II been convenient to do so. The first op-
perfume moment occurred last week, when
all OF the principal parties CHANGED to meet
at Salt Lake City and concluded right
then and there 70 carry their intentions
into effect. The Diamond Company was
therefore duly organized with Richard
Macintosh, r. @. Chambers, G. L. Rob-
ertson. J. E. Dooley and Charles Read as
Directors. The officers for the first term
are: Richard Macintosh, President; B.O.
Chambers. Vice President. and O.. L. Rob-
ertson. Secretary.
The Excelsior Company was organized
with the same gentlemen as Directors IS
those named In the Diamond Company,
and with Charles Read as President, r. q.
Chambers, Vice President and O. l.. Rob
ertsor, Secretary.
THE
OF the respective companies. as Is we'll
known here. consist OF two groups Of mines
that would be very valuable II the silver
market had not turned keel upwards, which
has been proved beyond the least shadow
Of q doubt. They are situated on the east
ern slope Of Prospect Mountain and COM
prise some Of the oldest locations In that
part Of the district.
The future plans OF the companies are
not yet fully mstured, but we are apprised
OF the following facts: The Excelsior mine
will remain for the present comparatively
inactive, and the Diamond mine will be
worked with less than one-half OF the force
Of men that we're employed in 10 before
silver dropped away down to the lower fg-
ures. II is the intention OF the company
TO conduct their operations in the same
conservative manner that governed the
business Of the owners previous to their
incorporation. Owing to the unfavorsble
condition OF the silver market the mine
at present will not be worked
for profit. but for development, and
ore will be extracted only in such guam
titles as will substantially pay the
expenses Of the company.
A fine, new double-sctiDg engine, with
reels for fat wire ropes and capacity and
to sink TO a depth OF 1880
feet, was set up in the lower Diamond tun-
mel several weeks ago. The main shaft Ia
now down 473 feet. and will be continued
TO a depth OF l 1000 feet. and levels will be
for the purpose Of exploring the
mine to that depth for still more extensive
operations and to be prepared for 3 better
for the product when the time
AT q depth OF 1000 feet the bot
.om OF the .hsft will be about 1,70o feet
the surface workings and 500 feet
thar any other workings in Eureka
District.
The yield Of the Diamond mine for the
year. notwithstanding that no ore
extracted during the months OF July,
September and October, and .
part Of November, will aggregate not much
less than 1000 tons, with an average
gross value Of about $50 per ton In gold.
silver. lead and iron. The mine never
looked as we'll as ID does now.
Eureka may be congratulated on having
A company, strong and willing and stout
enough to undertake the work that
Is contemplated and being carried out BY
the Diamond people through the hard
occssioned BY the low price Of silver.
We hope that their great and lsudable IN
will be crowned with untold Of
success.