Nevada State Journal from Reno, Nevada • 6

PAGEJSIX 1 1 I I I I Illi I Confidence Is the Keynote to the Wall Street Situation and Dis co uraging News 'Has No Effect Aj)A ST A I JOURNAL 22 4 SUNDAY JAN 5 1908 Business Is Good in the Mines Throughout Nevada Shut Down Mines Will Soon Resu me Io 'k MAZUMA HILLS MAYLOWER TO PIONEER GOES HAVE BIC MILL CONIDENCE 1 OVERCOMES TO SALT i Big Plant of Machinery to Be! Added So to Extend Work OUTPUT DISTRUST LAKE have started work DRITING BOTH WAYS ON SEVEN TROUGHS MINE Comjiany being that city LEDGE AND PROVING UP SENDS PRODUCT EAST Troughs by the Seven Trough the What at Other Times Would Re run careful REAGAN LEASE ON SAME LONDON BANK RATES the GROUND WILL SHIP SOON ARE NOW REASSURING of This Rock It Is Some Said Is Will Be of Picture Class Market (The Tin ro Tlic opening that house in but in tile some anxiety over a possible remnant Mr Bryan believes they can mine and a5: st a mps intention to visit the I'ho value ol the ore being sent out 1 hat it GOLDIELD of far re London Tribune its official discount rate both the nark losing touch with the money market eve hi ped in rial RAMSEY continue high demand fo litres an the northern shape for of the even Troughs district and nene sa The vein now a time of lie close down end Ings in the return for November owt free inflow of currency disclosed the the the the Tom temporary the Yer? Manager taken in it th claim bin it months usua I ly kind but the spite of i of the The mar in tak to take property during the pa no stoping of anv no the min alrifting the big machinery be rushed the ore a Blake into the' opened and in places specimen ore is found Travers has put crows to work or! the Round Mountain' Phlladelphia and Bound Mountain Nugget groups Both have showings in gold and tung sten PREPARING OR GREAT Visits of Johnson at a sounding th po ore the Deep minir'g will ho resumed in tho middel properties on the Coinstork as soon as the pumps are installed in the Ward shaft and the connect i ng drifts run rom their ert in a ide own ground adjoining a property that WALL REET 5IH0W RULLRDb RAM ECLIPSE VEIN RICH IN GOLD ORE ON WAY at Summit Springs in Southern Lin coln County outcroppiirgs are trace able for a distance of 1000 feet 'r There is considerable of a stir at Camp Thurman in the southern part annual work Scores of reloca were mad and happily there et At 32 0 were Jntind the 700 loot ond and parallel vein to tin? first This dyke from all' surface Indications should show up richer than any other ire well under way and the lease enter the new year with one of banner high grade shipments high grade orc The ores on mine is being confined to to the east to tap a great dyke1 which Mr Watts con in the immediate vicinity of arrel ar steadily improving A booin is inimi riod were stockholders nat carly resumption It happened I people the same a location tn tied on porphyry siders the foot wall the world of the American position and its abandonment marks the Return of faith in the passing of our crisis showed values of 1280 and the San rancisco test $3640 principally gold SUPPLIES BEING HAULED OR UTURE DEMANDS lieves the Celipse to bg mines of the Seven He states that the 'Vi Ilian Cross Secretary of State ir Oklahoma signs his name officiallyBill This not tendent Smith said: have had two tests of Mayflower orc one at Dcriver anti one 0 The shaft on the Ootwaldt Com bination Mining Leasing Company's block on the Consolidated is down 82 feet and work is being prosecuted vigorously Arrangements are being made to install an electirc hoist: navy 7 her any men stated that when The became known all the people vicinity were on the ground bune representative was informed ro an official high in the councils of the company that the present shipment 'shippers from' the are owned by George "Damondfield Davis Ragan soon as the mill is start the mine will statement was made by Tom Lock hart of the lorence this morning The lorence mill is rapidly nearing completion Material has been arriv intended by Com stock most' part that pa the' i a a a of drifting a id bl king as 1 i already done which has exposed an immense quantity of both high grade and what is considered milling ore The high grade products run t'rom at Seven Lovelock Heavy Blows' Are Dis counted again tDuring the copper slump company has not been working ington district Maurice Joh: 6 YERINGTON financial upheaval the time of the easing up pe so encouraging were found several ilivs ago Wihile nnuual work was being done on a group of claims between Goldfield and Beatty which Wingfield and John exai for himself Recent Inability of Smelters to Buy Ore Stopped Ship ments Additional unds Appear in the New York Time Loan Contract Signed after Satisfac tory Tests Showed the process Required Manager Watts Gives igures Showing ine Resource Is Placed Available ing extracted by means of a jackknife and spoon A crosscut is being ru i to pick up this formation The Dow ner brothers have let a number of leases and are also working on' owner ship at count As soon as the present carload 'is completed the teams will commence the hauling of the fifth carload and tegular shipments in the future will be continued The ore being brought to Lovelock is the accumulation from the develop ment of the two months having been done to produce the tton Thero converged on this uf the appointment of the money market which offered small prospect of adequate eorn modat ion for the extension of needed credits combination of circum whicit disastrous eonse The course railroad earnings include center tai Would gve Ths work ha Ueporl is curl out that two repre sentatives of the Guggenheints are at present over the Vulcan prop with a view position With every shift's end there in sight a drtft full of rich ore and every day more high grade is accum ulating on the dumps the pile of which is beginning to assume very large pro portions now that tlie shipments have production of the last 14 days was $70000 The Alta Mining Leasing Com pany is unwatering its shaft on the Alto block of the Velvet and is re placing old timbers Everything isin readiness for resumption of work as soon as the labor troubles are ver The shaft is down 350 feet values as high as $50 The shaft will be sent to point before crosscutting Strong oil indications miles from he raj Iroad and under The 1 17 8 sacks a rrl vi making 460 sacl to day to detect evidence of a renewed flow of floating capital ment Some increase of discoverable last week rnand was moderate" in large disbursements of dividends an I interest to supply a fund for reinvest mnt It is not unlikely that 'the Western Copper Company rlv active organization in at 500 feet of depth for purposes including the will be developed by a on the ground recently Bullfrog Pioneer Mining the Mayflower section vs In all of the Bimetal claim and is granted for a A the ric Wa 1 ve i ers have been put to work from the lUO foot level on hanging wall vein AThe shaft in line to folio is to the delays which enterprises of this The bond market scanned silver The tests show a saving of about 54 per cent of amalgamation toll road t'roiTi his Muncy Creek mines across the mountains to the smelter ind who left here about output of ore and will take it large quantities for Tlie process of treatment which tve have selected is a combination of amalgamation and cyaniding elimin ating concentration which will greatly reduce the cost the plant The ore is ideally free milling will tram the orc direct from the mine Lins to tho mill passing over a Grizzley into crusher and automatically fed 1000 pound have in the mine all practical mill This all means that the company proposes to get things in a large out in just as ble for resents a body of ore full six feet wide where chunks of rock are daily found showing gold to the naked eye while tons of it is being hoisted to surface and piled on the dump where it will eventually sacked and shipped At no late date sinking will again be under way The company intend to lower the shaft to very great depth and of course there Is a desire etrate the sulphide zone as soon as I ossible Tins has resulted most it isfactorily in other mines of the dis trict and the greater depth that has been! attained has resulted in a steady increase of values The indications are good that sulphide: ore will be en countered at Walkover whew th workings are lowered a little deeper which it is confidently expected show up ore of very high value The AValkover is another of Ilamsev district mines that is in sition to furnish shipments of high Toin Taggart's Next Tom Watson and the White House suggv of a tom tom Piltsburg Contract for a 20 stamp mill for the Mayflower Consolidated Mining Company was signed at San rancisco this week with the Joshua Hendy Iron works of whefr the the money some demand Tor They Goldfield and expect to have with all possible speed Smvevor George I Credit experts in the New York banks are more hopeful needed ac commodation being forthcoming to facilitate the process of liquidation which is a recognized necessity to vtent in commercial affairs is now hoped may be deliberation and good Tho publication of the bank May IJO Sorry He Spoke Mr Roosevelt may or may not bo altogether gratified by the hearty wel come generally accorded his final dec lai at ion that 'under nkm circum de Milwaukee Sentinel Wants Complete Collection Mr Bryan will vor be quite satis fied until he has had a Presidential nomination ins every large city i country Chicago Tribune O' Deadlier TJian a Navy America the" largc st but the blood letting power railroad system! exceeds that o' nation on the globe Louisville Co'i jcr Journal fourth shipment of nous Mayuma Hills Troughs is being hauled to from tho mine by the rey freighting the Pitt ware completion ol a oads containing to'iopen it up in a thorough inaniu i' INANCIAL REVIEW THE WEEK PAST future tho licit Karnsey Comstock the results up to date have more than fulfilled It would ap pear in way in tlie lower work ings that more than 40 foot ide ledge i vvill go down just as far as machinery and men can uncover so extensive and 'gold filled are bodies down th'te the fourth level are in character for deep lying deposits titan at any other point above Not a shovelful of high grade is now obtained but shows the pres ence! of tellurium that metal so much in favor by mining men who consider its presence the vdry strongest indi cation of deep lying orc bodies as vvell as great richness All things consider ed the mine at tho present stage of its development is ini the very best shape tor record production and a generation of profit making for the owners Supplies of all kinds are being haul ed in and piled up around the mouth of the shaft so that when the mine is again full headway no delay need occur because of delayed freight 'AH' this preparation 'fOr future activity makes it appear that where a property is genuinely rich as this one is no sort of slump will prevent men from going ahead and extracting the 'rock that possesses tin: gold i While the smelter conditions have stopped the regular revenues from shipments it has brought about re newed energy on the part of the Ram sey Comstock owners for the installa tion of their own reduction plant It has merely put this matter ahead an 1 it will not be Jong before plans and'pecifieations will be in the hands of the managoment for a stamp mill that ing expenses Railroad traffic offic in reporting on the more recent candid ac a shot because of the number who were eager to secure specimens Ton opah Sun the mine A mill under operation at that property will place it second to none of tlie gold producing mines of the State and will forever free it from the exactions of the gnelter trust The future of the Ramsey Comstock mine is assuredly imost bright WJien the present difficulties 'have long been past history the great bodies of ore being extracted from the workings of that property will be steadily produc ing shining bricks of gold bullion Ramsey Recorder Drifting for Kich Lead Downer brothers the Goldfield as Bullfrog Pioneer Company had tunnel into tlie hill and sunk a from the tunnel level giving them a vertical depth of 105 feet The new operating company which 1 is railed the Pioneer Leasing a nd Mi 11 ing company has taken up the work igain in 10 days the now carrying small are negotiating for a fairly covered' with the and it has been estimat stuff' they brought to will run about $5 to the it is received Manager red IT Vahrenkainp of tlie Bonnie Clare reports that both mining and milling operations will shortly be resumed the shutdown having been caused by' tho appoint ment of a receiver fur the company The company employed 85 men at the time of the suspension of opera tion! course of traffic make knowiedgment of the rapid shrinkage in the movements of merchandise of all descriptions except grain and of their inability to discover an early im provement The professional speculative con tingent about tho trek exchange har Ibors a certain amount of suspicion of the rise in prices as being due possi bly to fostering measures by bankers and capitalists of large resources with the design to afford a more fa vorable basis for the completion of some desired liquidation expected relaxation in While doing' assessment work on! the Baxter Springs Mining and Mill ing property a very strike was made Tuesday Tlie sessment work had not been done the owners of the property ICffl Parrot Petroni and Scheid at the last minute decided on the work that must be done to hold the property 2 JgJ Consequently Mr the property with doing the perfunctory manual labor" The small amount of labor was i of eight feet of high opened needed for 50 feet so far om the wall and it shows the same erage values with a streak of Air Watts be one of Troughs camp Mazuma Hills valued at $400 to $500 per ton in gold enroute and the lease on this propertv is hauling its first ar of similar ore to Lovelock for shipment to this city Salt Lake Tribune BAXTERSPRINGS also offers promise nu of the most threat? of cmjjrtrriisstnt iH tout of the heavy ma turity falling due in that department from time time Mining Company at I one Mountain The highest grade ore yet discov ered in the Gold Circle district lias been found in the original Bamberger with machine drills down 20 tons a day ore shoot is 20 feet pares with "i in the the ported was another restraining factor on immoderate enthusiasm on values Several of the great railway systems including notably the Atchison and the Pennsylvania showed a heavy in ertv in Hunter district ti purchasing Watts came day morning bitne that the after per ffon streaks of high grade in the Adding these to the sum to All of conveyances commission Tuesday night people out to land that hail beer viewed and which was liable relocation on' account of failure to pel form tions were no personal encounters such as had been feared It happened in some instances that tv simultaneously at each termed with In some instances The shrinkage in has gone with tlie slowness stringency of of the yeti sees a disposition refl In the financial markets to turn mournful uriltiy says that it is tho intention of the officials to lose no time in getting tlie plant installed although lie does anticipate the completion in today whom thoconsignm be forwarded for treatment of Lliis tlie groundand will continue sinking The the ore body made" patented laiTd being plastered with new notices and claims on which work was done underground from ad joining claims of the same group Under the superintendency of Ar nold Hocker was rosinm this morning on the Jumbo ledge block' of the Atlanta Warner and Charles Seig of the Warner Stewart Company ar rived in Goldfield Wednesday to ar rang for tho resumption of opera tions ton the Rogers Syndicate They werein consultation with Judge Rog ers Thursday and it was decided to A special field of uneasiness was tho provision for 'the annual settlements in the money markets wliich were n'lisuai ly heavy while the resources of th money market although rap idly improving were' still 'much im paired smoothness with which the turn of yesterday was effected went far tv vnemtrage sentiment ami to establish confidence that steady im prov ment" in "the financial position was to Le expected henceforth call money rate did not get higher tnan 2 per a ximiim in from the camp Thurs tjiid stated to The Tri made on the spot and in others each placed his notice ami the courts will be called upon to decide ownership A vein one of the several the roup that has been shown to be 22 eet wide and teet long so far find of $15 gold to the Reduction Plant Scheme Ahead of What It Would Have Been appeared in the time loan market and business in the department has The Reagan' base situated on a portion of the MazuiYia Hills ground joinedthe ranks of of ora of the variety will be brought to next week and sent to the velopment is of the utmost importance in marking the passing of the feeling of distrust of the New York banking position and promising rapid re estab' lishment from the normal position It thus happens that the financial markets have been disposed tq ignore same immediately unfavorable factors in affairs cheered by brightenin striking ffered in and which it conducted nt order as 'milling grade runs from $20 up to $70 per ton and averages about $45 ler ton in gold i or the purpose of further extend ing tlie or? reserves and to get Jn readiness for much greater monthly production than "formerly the com pany is wit present engaged in driving long 1 drifts both ways on thf ledge The work is surely proving up the oil for fuel I''We do not figure on treating over three tons of ore to Hie stamp which will give tons per will 'be' in the neighborhood Rhyolite Herald has mak ing a profile of tne hill for lhe mill construction and surveying for the vein that The yellow metal od that the Tonopah pound They brought in several hundred pounds The formation is lime and slate Another rich streak was also uncovered four inches in width and between the two there is 14 feet of ledge matter which will return good The strike in the and it was almost impossible to rom the size of the ore bod now exposed and the of the or it could be made to establish nic record iir a very short time and voula also help bring the merits of this dis trict to the front The company had made every preparation and would have started their to the railroad had the smelter trouble com? about when it ciid Recorder troni went to intention $100 worth of this that at i 14 inch was struck the contemplation of lerdays and to look hope and confidence The conviction! is firi remained to fa year or so ago was attracting atten normal jtion from all investors The organizers gathered together a large acreage or territory located squarely on the great mineralized zone containing among other properties the Mason Valley and Yerington Malachite The company early broke into' fine copper orcein linnet and lower tunnels demonstrating the value of the group a red metal producer jThe com li' spent much money on equip ping the property with machinery and surface improvements and when work does start up i there will be nothing to prevent a most active era of exploration The company is fulij financed for this task Work on Muncy Creek ALL AROUND NEVADA at McGill two weeks ago in his automobile' for Goldfield came in last night from the southern earn by rail'beingcom peleil to lea ve his nuiehine there account of the deep snow on the mountains between here and Goldfield Mr letcher will proceed to Muncy Creek and continue the development his mines during the winter the mill a capacity of 60 lay The cost of the plant 'Smelting ore runnii $2 60 to the ton' is bclr hot om values Imist in it on the ground in a short time Mr Bryan says they are also plan ning on installing a compressor plant ana figure that they can break per man The am! easily it will run from $8 to $1261 In order to tieat it on the ground at a profit they are already planning on installing a cyaniding plant and expect to have it in operation In 60 If it required thorough opening up the mine on the foiirth' level to in ing improvement in the position was tins rapid dwindling of the premium on gold which signalized the first business day of the new year So from yes with the future with an ton i th Carload of High Grade Results rom Development Work Already Done 3 The Western Nevada Copper Com pany is one of the fortunate organi long as th premium persisted an nn perfected when copper mining surmountajfie obstacle the rc esiablifthment banking position 7'ii i Lundiin market assured by 1 his development raiid 1 cline nsued in the discount rates and the Bank of Eng SOURCES A LONG LIST GOOD METALS SILICIOUS ORES YIELD 63 PER CENT GOLD Placers Give the World About 28 Per Cent of Its Yellow Metal NEVADA RANKS THIRD IN DRY ORE PRODUCTION Unted States Geological Sur vey Collects Valuable igures The gold ami silver pmiliiel is di vided according 1 its derivation from phicms from dry or slloiotis ore from copper ores or cofiper lead zl no ores and load zim ores Th di visions of tin: on from the deep mines are of course to contain de gree arbitrary and doubt exists aS proper classitiea tion of many ores In general ores that contain 2 per cent or more Of copper arc considered copper ores while those with over 4 per cent of lead are vttlleil lead ores The bulk of zinc ores contain at least 25 per cent that metal Statistics collected by (he United States Geological Survey and publish ed in an advance ehapt from the Itesour of the United States Calendar Year of indi cate that slllcious or dry which in general may be considered as gobi oresproper furnished about G3 per cent of the whole production and that lilac rs yield approximately 28 per cent 'J'hc base metal orcs furnished only about 8 JA per cent of the totul output while the tonnage of those ores was exceedingly heavy Placer gold was obtained in 190'6 to the value of 1328 360 7U ne ounces equivalent to $27 159653 while in 19oj the quantity' was only 93470926 ounces valued at 19222 155 Alaska was of course most conspicuous In this great advance but California also added about $1 5 0 9000 to its yield of placer gobi in 1906 The Increase in California was the result of dredging operations The States whh yielded over 100 000 Ounces of gold from dry or sili ceous ores rank as follows: Colorado California Nevada South Dakota Alaska ami Montana ores of tills class necessarily includo many vari eties anl several different methods of reduction arc applied to them Th pan amalgamatim process has be come obsolete ami is used only al few places in Montana Nevada and Arizona Gld obtain from copper orcs In 1996 amounted to 271197 ounces ts Jigairist' 2555 63 In 1995 Tills Ih a very moderate gain contrasted with thy great Jn crease in tonnage of cupper ores treated but is of course lut their ordinary Jw tenor In gold and silver The liyporiant States rank as follows Utah Arizona Montana and California The richest ores from the Hingham and district in Tito greater part of lhe copper orcs concentrated and smelted the gobi being recovered ilitr ing electrolytic refining of the copper rom lead orcs proper only COT SI 2 ounces of gold were recovered This is less by about 601)0 than in 1905 and emphasizes the scantiness of the supply of higher grade ul ores Heavy losses in Montana Colorado and Utah wine only partly offset by the smaller gains In Arizona and Nevada In gobi from lead the States rank as follows: Colo rado Utah Montana Nevada Idaho Gold from Idaho lead ores lias been partly overlooked In earlier statistics It is present however to the amount of 25 to 50 cents ton in the 1n avy shipments of concen trates and most of ft is undoubtedly recovered Only a very small amount of is recovered from zinc ores Together with the silver it remains in the cin der aftdr the distillation of the zlri: ami these cinders if of high grade are sold to smete)s Th lead zinc generally concentrated to sufficiently the lead ores are effect the separation th galena and sphaler ite A total of 11691 ounces of gold was from these ores in 1906 almost wholly from Colorado The oppor load sulphide ores are confin ed chiefly to the City rind Tintlc districts of Utah anil the output of gold from this source Increased from 38771 ounces in 1905 to 59371 ounces in 1806 1.