The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-01-15

full Introduction Of plate amalgamation
of part of the geld and the subse-
quent concentration Of the silver sui
lphides. This was accomplished by
means of what Is known as the Kin
kead mill. The tailings from this mill
which has been in operation on the
Comstock for years, were then treat
ed by the cyanide process, the total
extraction by these three combined
processes-plate amalgamation, con-
centration and cyanidation-being
about 80 per cent. This was a vast
improvement over the old milling op-
erations when the mill owners would
not guarantee over IS per cent Ii. l..
Slossen, president Of the Mexican COM
pany In pamphlet entitled Deep
Mining on the Comstock," gives the
following interesting figures of cost
comparing recent conditions with
those of earlier years:
1S7O-Lumber, $40 per 1000 feet.
1909-7$1S.75 per 1000 feet.
1S7O-Nitro powder $3.50 per pound.
19O9---15 cents per pound.
1S7O-Cost Of milling, $40 to $14 per
ton. 1909--85 cents per ton.
1S7O-Power for mining and milling,
1874 per h.p. month. 19O9-$5 per h.p.-
month.
1S7O-Value recovered--65 per cent.
10000 to 80 per cent.
Cost Of pumping is about one tenth
that of former years.
Greatly Reduced Cost.
Ihese f1gures show great improve
ment in economic conditions in recent
Years over those of the days before
the hydraulic elevator was placed in
operation in the G.. & C. shaft, and one
would naturally think that if ever the
Cofnstock is to be a profitable mining
heid y is at this time, under these inn
proved conditions. In this connection
IL must be remembered that the Com
STOCK is unlike other mines or lodes
Its ore deposits are scattered erratic-
ally through huge mass of assured
and altered rock, which is for the most
part barren, though often completely
slllcifled, but which as a whole con-
sttutes the lode. The search for ore
Is always uncertain as to its results.
some OF the Comstock companies have
levied assessments to the extent of
millions and yet have never produced
Ton OF profitable ore. The Bullion.
Caledonia and Alta companies each
collected assessments in excess of "a
100000 and none Of them ever paid a
olVldend. The Sierra Nevada COM
pany has assessed about $1,000, 900 but
II mas also paid dividends-a little over
100000 the Ophir company assessed
over $4,650,0OO but it's dividends were
more than $1,5OO,0OO. The Savage
company taxed its shareholders. first
and last, about $7.5oO,Ooo, the divi-
dends amounting to more than s4 400
ooo. Gould Curry assessed more
than S4,600O00 and paid dividends
to $3,S37 500. Hale G. nor
cross assessed nearly $7,OOOOoo its
alvldends amounting to $1,S5O,00 The
total of assessments amount to mora
than $s0ooo.o0O. Many of the com
panles assessed their stockholders
from half million to over two million
dollars without giving them anything
in return.
mis- all seems strange, almost i'm
possible, and the natural query is.
HOW We're the mines sustained-wno
paid all Of these millions of dollars
INTO the treasures of these perpetual
y unsuccessful companies? The an
'wer Is simple enough-the speculat.
ng public.
Specializing Public Paid Assessments.
The conditions obtaining on the
-omstock Lode, geologic, economic
ind financial, are all of a character
nat renders the stocks of the various
companies operating on the lode SUBJ
ect to sudden and extreme fluctua-
ions, and this is just what the stool;
peculator needs in his business. The
apld changes Of fortune there. from
xtreme poverty to enormous wealth.
r the reverse, have so freouentIv
zen witnessed since the Ophir was
rst discovered in 1859, that it has
naoe Comstock shares a favorite me-
ium OF speculation. Among those at
ii disposed to take gambling chances
ne spectacle of stock in ANYTHING
'hether 1t be mine. patent medi-
me- an irrigation project, or even a
roposition as visionary as John Laws
mississippi Scheme going suddenly
rom a Few cents a share to hundreds
dollars, forms an irresistible .attrac-
on. Fluctuations of 100 per cent ar
'ore were common things in Com |,
ock shares, If any mine Struck it h
en- UP went the stock, like a rocket e
1d most of the other stocks partic- =.
AIRY those of the immediate vicinity, 7
ouid go up with it and, like the roc.
II, also came down. Ever since the !
game began with the listing
the stocks on the San F'rancisc, Is
thousands of men and wo- In
en- have poured their earnings into q
e dark and reeking depths of the !
'mstock Lode. Many of them ha vo :
own old-they have long since been | t.
ade poor "bucking the game" These Il
ople bought stocks, not because thew v
peCted n rich ctrika tAat l. ,.,, |