Los Angeles herald., 1905-12-04

France netted 100000 gold.
The richest vein in the mine Is said
to be the vein now averaging three
meters In width. This vein produced
the 100000 car OF gold shipped to
France. The other vein is twenty-five
meters in width and produces enough
ore to keep the 100 stamp mill going
The cost of the new mill has been paid
out of the ores found in the ten meter
cross cuttings into the twenty-five
meter vein.
For the past six months the net earn
ings of the mine have been more than
100000 per month and In one case was
as high as 100000. Above all reserve
funds, the cash on hand amounts to
nearly million dollars. There Is hard
ly another mine in Mexico the stock
holders in which have as much reason
for resting easy. The claim of being
the richest gold mine in the world has
considerable endorsement from the fig
ures in the case.
The rise in the value of stocks, which
is considered by miners to be very sub
stantial, is attributed to the fact that
the net earnings of the company for
October reached $4,000 English pounds
against 1900 English pounds net earn
ings for the month of September. The
advance during the past three weeks
has amounted to 26 shillings, or about
S13.
California Mining Notes
San Diego News. The board of di-
rectors Of the Nevada Goldhelds Devel-
opment company nave let a contract to
James Jennings, an experienced mining
man of San Diego, for the sinking of a
four by six shaft to depth of 100 feet,
on their Lucky Jim No. o. claim, at
Gold Mountain, six miles southeast of
Tonopah. 1t was from the surface
cropping of a ledge on this property
that the company secured an average
assay Of about $13. Much development
work is being done on adjoining prop
critics and ores of high value are being
encountered on all sides.
San Diego Union: The mining inter-
ests in this district are now taking
quite boom, chiefly the mining camp
at Alamo, where Maj. Russell is about
to inaugurate the big and costly plant
to operate on a large scale the mining
claims which his company owns in that
region; and undoubtedly, once this
plant is in operation work will be given
to a large number of miners and ope-
rators and others will also then be able
to develop their mines and prospects,
which they have been unable to do on
account of the scarcity of hand labor,
which has deserted the camp because
of the general paralyzation of develop
ing work on Mr.. Russells properties.
According to latest advices a great
number of people are now preparing
to flock back to Alamo.
Riverside Press: Among the various
claims and groups of claims on which
the assessment work has been done
under the direction of Judge /. b.
Reed is mentioned the Carlyle, owned
by Halesworth McRay of Santa Ana
and Los Angeles the Star King, owned
by A. e. Sexton of Los Angeles; the
Valparaiso group, owned by the Ven
tura Mining company of Los Angeles;
the Double Star, owner by DR.. l.. N.
Bedford of San Bernardino, and the
Golden Gate No. 3, owned by Ingersoll
& Essler of San Bernardino. Some eX-
celent ore was uncovered in several
of the above properties.
J. NJ. Sigafus, one of the principal
owners of the Virginia Dale mine. has
been carrying on extensive develop
ment work therein. 1t is reported that
the ore bodies are remarkable, both in
extent and quality. Messrs. Robinson
and Wells, prominent mining men of
Colorado, identified with the famous
Smuggler- Union mine in that state, re-
Gently examined this property and it is
rumored that d deal is likely to result.
Enormous Copper Output
The October production of the Greene
Consolidated Copper company was
100000 pounds which compares with
5,SOO,OOO pounds in September and
5,5OO,OOO pounds in August. The Octo-
Der output was sold at an average
price of 1876 cents and an official of the
company says the November average
will be fully II cents per pound. The
production for the calendar year will
be between 65,000,000 and 6S,000,000
pounds, made on average cost-landed
i'm New York and sold-at not far from
II cents per pound. In fact, the current
cost of Greene copper, which cost in
cludes every expense, directly or in
directly connected with the production
and marketing of copper, is not far
from IL cents. This figure includes u
10 per cent depreciation charge, which
item rarely enters into the bookkeeping
methods of most producers. The Greene
proposition, as it stands today, repre-
sents an investment of between SIG, ,O00,-
900 and $17,000,0 900.