Los Angeles herald., 1906-10-01
LUCKY STRIKES
IN GOLD MINING
FABULOUS RICHES IN LODE
AND PLACER CLAIMS

The history of mining with its many
instances of sudden leaps from poverty
to wealth is always interesting and the
fabulous riches with both lode ana
placer mines are now outstrlpped py
the dreamiest writers of, romance!
Since the discovery of gold in Caltfor-
MIA in ,1S4S, and that of Australia in
1858, the world has been furnished with
many true tales of fortunes having
been uncovered with one lucky stroke
of the pick.
Among the many fortunes found in a
single lump of gold two nuggets found
in the placer fields of Australia are en-
titled to first place. The first nugget
found weighed 2217 ounces. Estimated
at $40 per ounce, this nugget was worth
$44, $40 and was named welcome
The second nugget was named "Wel-
come Stranger and weighed 2268
ounces, valued at $45,360. So pure was
the gold in these nuggets that they
netted their owners over $4,000 each.
Another instance worthy of citation
in the same country is where three or
four placer miners had worked hard Tor
a number of months digging for gold
and becoming discouraged had about
lost hope when one concluded to dig one
more prospect hole and if 1t failed they
would abandon the task and seek other
fields; at nine feet they found colors
and in few hours took out l2O POUNDS
OF gold, valued at $2S,000, Another one
worthy of note was made in California
in the year 1S4S, when oliver Martin
uncovered a nugget weighing 151 pounds
and valued at $S6,240.
Fortunes in Placer Mining
Aside from the many large fortunes
found in nugget form, thousands OF mil
lions have been taken out by the slulc-
ing process. Most of the colossal Ior-
tunes amassed in placer mining have
been ACQUIRED in that manner. When
we speak of silver mining everyone
acquainted with American mining his
tory will at once think of that peerless
mine. the old FComstock of Virginia
City, New, where Macay, Fair & Flood
and O'Brien amaSsed fortunes when
dwarfed the fortunes of every other
mine owner in the United States at that
time.
The Comstock was first discovered in
1856 and 1873 at a depth of 800 feet the
largest body of silver ore ever discoV-
cred in the known world was found
and for three years after the bonanza
strike silver was extracted from the
mine at the rate of $3,000,00O month
and the old retort building which Wit
messed the melting of 100000 worth or
bullion daily for 1000 days Is still stand
ing. During the twenty-three years or
successful operation the mine yielded
about $15O,OOO, 900. At no time since has
the mine been abandoned though actiVe
mining ceased for some lengtl. Of time
after the characterization of silver, but
of late years active mining has been
carried on and much valuable ore has
been taken out, and 1t Is safe TO say
that for generation to come the Com
stock will remain a producer
Copper In Demand
The Calumet & Hecla is sold up to
the end of the year and Is now out or
the market Its recent sales have been
made at 10 cents per pound, and some
scattering contracts have been made
for delivery next year. Within few
days the company will again be in the
market, as urgent inquiries have been
received from foreign and domestic
consumers. but the price will not be
less than 10 IA cents per pound.
Germany and France cable that there
has been remarkable Improvement in
the outlook for copper in those coun-
tries, and that there are multiplying
evidence that the skepticism which has
operated to restrain foreign pur-
chasers OF American copper supplies
around current figures Is fast disap-
pearing.
The United Metals Selling company
has recently advertised its price of
electrolytic copper abroad to e89 SIS.
which is equivalent TO better than 10
cents per pound New York delivery.
The Douglas (Ariz) Dispatch says
that the lack OF men who are accus-
toned to working at dizzy heights has
caused j. Grinnell to stop work on the
lofty Copper Queen stack for ten days.