Los Angeles herald., 1906-09-10
RUSHING TO POCOPAH
TO OPEN NEW MINE,
MUST NOT TAKE GUNS TO MEXICO
Surface Value of Greenwater District Is Wonder
tul-Quarter Million Dollar Cleanup Near
Weaverville-NO Great Demand for
Silver-Nuggets Of News

, $4,000 and 100000, making the tota
for the season over a quarter of 9
million dollars. The expense Of opera.
tion, including the outlay for blocks
and steel, was 100000.
Market for Silver
The appearance of the United States
government as buyer of silver In the
open marl;et, after an absence of thir
teen years, is not likely to cause any
disturbance, says the Engineering and
Mining Journal The quantity re-
quire1 is not large-100,0O0 ounces
weekly for the present-and ia not
likely to increase, as the purchases
are only Intended to cover the current
requirements of the mint for subsidi-
ary coinage. Since the repeal of the
Sherman silver-purchase act, In 1893
these requirements have been met
from the silver which was bought ir
accordance with that law. The uc-
cumulation is now exhausted.
As was to be expected in time of
great prosperity and business activity
the requirements for subsidiary coins
for circulation have been large, and
the mint needs bullion. The quantity
however, is too small to be of i'm
portance in comparison with the de-
nand for the far east, which Is the
regulating factor in the silver market
That demand has been unusually large
this year.
India has had a prosperous season
and money is abundant there: the re
suits being apparent in buying of sill
yer. The amount exported to that
country from London i'm the first half
of this year was approximately $685.
GOO ounoes-more than twice the guam.
tity taken in the first half of 1905, and
about thirty times the probable re-
quirements of the mints for half u
year. Still, the latter are likely to be
an element in steadying the market
and maintaining prices.
News at searchIight
Among recent visitors at Searchlight
were l.. E. Bamberger, representing the
Bamberger Guggenheim syndicate;
John Ferguson, the accredited repre-
sentative of the Silver King Mining
company; David Keith and United
States Senator Kearns of Utah,
Senator Harry Josephs and H. R. An
drews of the Hoosier mine of Good
springs.
Ore assaying $445 per ton in gold and
silver was struck on the Venus mine
in Ell Dorado canon, recently. The ore
was encountered at a depth of 225 feet
in a cross-cut twenty-four feet east of
vein is three feet in width and four
inches gives the high assay, while the
balance averages $50.
The ten stamp mill of the Black
Hawk Mining company Is on the com
pany's ground and will be erected as
soon as suitable location is decided
upon and sufficient amount of water
is developed. The shaft on the Rand
mine, belonging to this company, is
HTNx t.
10O-foot level, drifts have been run both
ways for a distance of 1875 feet and
the ledge averages six feet in width.
Nuggets of News
The Summit and Graves mine and
the North Mammoth Extension, located
in the Clear creek and Shasta section.
Shasta county, have been bonded to the
Balakala company for something less
than year at a price we'll above $100, =
GOO. The bonding company will put a
crew of men at work prospecting de-
VelOpments. The Summit and Graves
property was purchased by F. e. Ware
for the Mt Shasta company and was
decided with the other Mt. Shasta COM
pany properties to the Phoenix Gold
Mining company of New York, when
the two companies were consolidated
about three years ago.
The properties on Bully Hill are now
the only properties left.
While the mining industry is pros :
pering as never before in Arizona, the
output of metal would be much larger
were it possible to secure more min
ers. Skilled workmen are in demand
in every camp, with wages of $3.50 to
"a for eight hours. There is general
complaint that too many of the miners
are nomadic in disposition, leaving for
new fields as soon as small stake"
has been accumulated. Bisbee is the
only camp in the territory that seems
to have a steady class of workmen.