The San Francisco call., 1906-10-08

No phenomenal discoveries OF min
erals have been reported for any of the
Pacific Coast territory during the past
week. The situation is decidedly hope
full. however. While the San Francisco
disaster interfered with the steady
progress of mining schemes that were
proposed or were under way prior to
April Is last, general conditions are
steadily improving. This is manifested
by the deals in progress for the posses
sion of mining properties. II they
could all be collected they would make
quite an imposing list Many are being
carried on as quietly as possible. Those
that are known involve. in the aggre-
gate, a large sum of money.
Copper holdings are as much in de-
mand gold properties. The mining
men figure that there Will not be too
much copper in the market to kill the
profit. When new discoveries are COM
ing in old deposits are exhausting their
resources more or less rapidly. The de-
mand is steady and progressive for
copper for a great multitude Of uses.
The continued higher price for silver
has given the operators Of silver-lead
mines an opportunity, which has been
improved The hopeful view of mining
extends all over the coast AS an ex-
ample Of this, the following extract
from Goodwin's Weekly, published at
Salt Lake, is instanced:
Shortage of miners should mean d.
minished dividends, but it doesn't. Pro-
fits have been large this year and
never larger than since the dearth of
miners forced employers to raise wages.
Increased cost of production, higher
expenses, more profit Paradoxical,
isn't it? There is a reason, however.
The demand for metals has been re-
markably strong. The scarcity OF Ia
Dor has compelled the lowest grade Of
mines TO close down. thus limiting the
supply of the metals. Copper, lead and
silver have gone UP In price. The me-
dium and high grade mines get more
for their ore and are therefore able to
pay better wages without affecting
dividends. II there is not too much
water in the stock wages and dividends
paradox is explained. The employer
makes more. The miner gets more. The
metal consumer pays more.
INVESTORS IN MINES.
One hundred thousand shares of the
Balaklala Copper Company will be re-
turned to their owners. as they have
not been sold These shares were
/ placed in Boston for sale at SIS a
share. The stock of the company in
| cludes 4OO, 900 shares. At a rate Of SIS
4 a share the value of the mine would be
] $4,000, 600.
The Black Hawk, Venus and Noun
| tain mines. in the Ell Dorado Canyon,
/
merged at Pittsburg, under the name of
! the Black Hawk Consolidated Mining
Company. The capital stock of the
new concern handling the properties is
! 81, ,OOO, 600.
bond for $4,000 is reported to
have been taken on the Arizona mine
at Unionville, Humboldt County, Ne
vada, by Salt Lake parties. The mine
/ is owned by the estate of former Gov
ernor Booth Of California. The work.
/ ings extend 900 feet underground.
The Tuolumne Independent reports
that John d. Smithers and associates
have secured a bond on the Imperial
mine, which is situated near Jackson
vile. 1t was formerly known Is the
! Stanley mine. 1t is owned by c. A.
! Fitzgerald.
A number of deals of considerable
/ Importance affecting Arizona mines are
reported to have taken place recently.
Twenty-one patented mining claims at
! Jerome, around the workings of the
United Verde mine, have passed into
the control of the Hull Copper Com
pany, a corporation formed mainly by
/ New York men, who are reported to
have subscribed 100000 for develop
ment work. The Western Mining Com
pany has bonded the Batchelder, Rob-
erts- Dawson, Hanson -Savallo and
other groups of claims at Dos Cab
! S125.00
WORKS FOR DEVELOPMENT.
Work will be resumed on the Sebas-
topol mine in Sierra County Opera
tions We're suspended temporarily by a
/ large inflow of water.
A Spokane company has purchased
500 acres of mineral land in the Dead
mans Flat section in Nevada County
and is reported to be about to operate
quite largely.
The Golden Gate mine, at the head
Of Little antelope Valley, in Modoc
I County, has been bonded to Tonopah
parties for 100000, according to local
reports. The mine has been a pro-
I ducer for some years. County Treas
urer Brown of Mono County, with
others. held the controlling interest in
the mine.
A deal for the Red Ledge copper
mining property near French Corral, in
Nevada County, is rumored. Formerly
the Red Ledge was worked for gold
Now it is concluded that 1T is richer in
/ copper than in gold. Three tunnels
! discovered in each tunnel, which is
supposed to establish the existence OF
a large body of copper.
Again il is reported that mining will
be revived in the Ophir district in
Placer County. The Eclipse, Gold Bios
! som, Three Stars and Hathaway mines
are mentioned az properties that will
be made producers again. The water
has been pumped from the Eclipse. A
/ new electric plant is going into the
Hathaway. These mines are all quartz
properties.
Platinum has been found in the Choir
70 mine in San Luis Obispo County.