The record-union., 1899-08-30
Pacific Coast
Mining News.

what is going on in the great mineral
regions of the coast:
/ MILLIONS IN A MINE.
Marysville Democrat: Deadwood, 5.
D., is the home of the Homestake
quartz mine, one of the wonders Of the
present century. A press telegram sent
from Minneapolis, Mimi, yesterday
stated that the Hearst interest, one
third of the great Homestake mine, is
to be sold in London next month. The
details of the deal are all made. The
mine is valued at about $9,000,0OO, and
is capitalized at S12,500000. 1t has
paid dividends of 81, 723, 800, and is un-
derstood to have ground opened to in
sure dividends of S65,00O monthly for
the next twenty years. The Hearts get
about $2,500,000 for third interest in
the Homestake alone, and it is sup
posed that the same interest in the
Deadwood- Terra and Highland will go
also.
In some respects the foregoing is cor
rect, but not so as to the dividends.
The Democrat is in possession of
recent report Of work at the mine. The
| operations of the Homestake mine at
present are being prosecuted on an ore
| body 5000 feet in length by 1000 feet
| in width, and within this area per
cent. of all the material composing the
mass yields down to the explored
| depths of $50 feet, not less than 81 to
the ton in gold. The associated com
panies composing the syndicate lift
from the mine every twenty-four hours
| each day in the year and crush in their
/ . ~ @fo or
in the aggregate for the year 1,16S,0O0
| tons of rock, from which is recovered
| $3.50 per ton, which gives an annual
production of So, ,496, 400
| According to the Superintendent's re-
port, the 5000 tons of ore that is mined
and milled every day can be continued
for twenty years from the ore already
blocked out above the S00foot level
The dividends paid since the inaugura-
tion of mining on the belt is approach
ing the $12000,000 mark, with the mine
| in a better condition to increase the
net monthly profits than since the first
mill was built The yearly labor and
supply expense of these companies is
about $2,500,000.
THE SHEEP RANCH.
! Calaveras Chronicle: The Sheep
Ranch mine is being put in first-class
condition for rapid and economical OPP
Grafton by the installation of first
class modern plant. under the super
vision of superintendent V. S. Gar
barini, says the Amador Ledger" The
collar of the shaft has been raised
some feet in order to get dumping room
and to be able to car ore to the mill
without the necessity Of an elevated
track The boiler-room and engines
| have been set back from the shaft
many feet from where they We're set
last year when operations on the prop
erty were commenced, and at the same
time their foundations have been raised
several feet. The new steam hoist is
| being changed in many particulars to
meet the conditions presented at the
mine, which it seems the San Fran
| cisco founders can never comprehend.
| At the same time this surface work
| has been prosecuted the tunnel from
the Phoebe mine has been extended to
the shaft, and drifting from the shaft
to meet the tunnel has also been
pushed. The shaft has been reopened
and retimbered to the depth of the drift
toward the Phoebe tunnel-300 feet.
The work of lifting the water out of
the mine will be commenced and
pushed as rapidly as possible as soon
as the engine is ready for the work.
The matter of unwatering the shaft is a
very serious one. for the shaft is 1,20O
feet deep, with drifts, cross-cuts slopes
and upraises, some Of the former of
which are 1,400 feet along the entire
length of the ore shoot. Besides this
there is a shaft at the south of the
property, some 600 or 500 feet in depth,
the water from which will probably
have to be taken out through the
Sheep Ranch shaft, because they are
connected by underground drainage
MINING AT BLUESTONE.
PIumas National Bulletin: B. y.
| Ivanisevich and Mr.. Korolla were in
! Quincy from townsville last Saturday.
! The former, not long since, returned
from a trip to Austria. He and five
others are now engaged in developing
what is called the Bluenose Consoli-
dated Gravel Mine. The company has
a tunnel in $50 feet, but they yet have
to run 80 feet. From the end of the
tunnel, they will then make an up
raise Of 80 feet at an angle of 40 de-
/ grees into the Bluenose channel.
At the Plumas Eureka mine, between
fifteen and twenty men are working on
tribute, but it is understood that they
are not really breaking any new
ground, their work being confined to
pillars, sweepings, etc, left when the
property was extensively operated
years ago.
Between forty and fifty men are
working at the Four Hills mine. The
machinery for the electric plant is on
the ground and will be put in place
this week. This will be the largest
electric plant thus far introduced in
this section 1t will be capable of pro-
/ ducing $50 horse -nower. 1t will be
run by water power, the pressure being
900 feet. The mine is reported to have
an immense body Of good gold bearing
quartz.
TREATING ORES.
Los Angeles Mining Review: The
old Osborn mine, thirty-five miles
/ southwesterly from Wickenburg and
! fourteen miles from the Vulture mine.
/ is going to be heard from in the near
future 1t has been lately bought by
i a Denver company and under the SUI
perintendency of Mr.. Deity is sure to
come to the front as a producer. It
consists of eight copper claims. There
| is a shaft down 125 feet all the way in
| fine ore.
A gentleman, formerly a resident of
Minneapolis but now of San Francisco.
is in Kingman talking of a new method
! for the reduction of ores, says the
I IN aIo 1,of Ixrl1 hi \,