Volume 08 (1864) (474 pages)

The Rining and Scientific Press, illustrated volumes will appear, !efore the next session of the Legislature opens, will serve as u guide aul key tu these collections, nnd will. as it is bu lieved, be sufficient tu answer the questiun so often raised, especiatly by the newspapers of this city, as to whether our work was anything nore than a shat. Bat time forbids my pursuing these tupies any far. ther. No une can fevl a yreater desire than I do to sev this state attain the highest possible degree of civilization, und I look to the Mechanics‘ listitute as one of the means by whieli this is tu be brought about. Those who seek new regions take npon themselves new responsibilities, nd are willing to meet and nhle to gvereome vreater difficuities, than those who cling more closely to the homes vf their fathers. ‘the greater the obstacles tu be uvereome, the greater the triumph of overcoming trem. A Wnavy Castino.—We witnessed, on Saturday afternoon last, at what is said to have been the heaviest casting ever made ou the Pacific eoast. The cast wus that of an enormous pinion wheel for the San Franciseo Water Works Company, and was made at the Pacific Poundry. The diameter of this wheel is 914 feet, with 16-inch face and a very heavy center or “hub”—the whole weighing between six and seven tons. To make this easting, upwards of eight tons of iron were smelted in two furnaces. ‘The molten iron from these furnaces was drawn off, as fast as it came down, into a huge pot, holding about a ton, whieh, as fast as filled, was earried by a heavy crane to the opposite side of the foundry and emptied into a reservoir. The molten mass was thus accumulated until the requisite quantity vas obtained, when a sinall gate, at the bottom of the reservoir, was opened, and the melted iron suffered to rush ont, and along a prepared sluiceway, into the mould prepared for its reception. The melting of the iron in the furuaees ocenpied just 50 minutes, and the aceumulated inass from the reservoir was run iuto the mould in 2}Z minutes. The operation was witnessed by qnite a number of gentlemen who had been attracted thither by the interest attendant upon so important a pieee of work. The easting wasa most coniplete sueeess and refleets much eredit upou the enterprise and euergy of the proprietors of this extensive foundry. We would take oeeasion, in this connection, to mention that (he Pacifie Foundry has recently made extensive additions to their shop room, by the erection of a briek building 165 feet long by 60 wide, whieh, in addition to their previous buildings, runs entirely through from First to Fremont street. They are also putting in a new and larger engine for driving their works. Other important improvements in the way of buildiugs, additional working facilitics, maehinery, tools, ete., are in progress, whieh, when eompleted, will render this a first class establishment, and fally equal in extent and facilities to any other in this city. Canivormia Coan vs Axturacitn.—We notice a lament ou the part of our fouudrymen over the eost ($35 per ton) of Lehigh (anthraeite) coal. We eommend the following statement to their attention:— Forty years since it was a problem “Ifow to burn anthracite ;” yet irou was then worked in almost the same mode, as now. Again, a ton and a half of bituminous coal, at two-thirds the eost of the anthracite, contains, say as much earbon asa ton of Lehigh. It is obvious, therefore, that the problem now is, “* How to burn our (California) coal.” On the 3d of August last, we called attention to improvements in furnaces whieh should be capable of applieation here. Stcel in France, glass in England, iron ores in Sweden and Spain, have already been worked with economy by the adoption of similar priuciples. Pror, Winryey’s Annress.—A limited number of extra eopies of the * Press” containing this address have been printed, which can be had a, this office, and of the newsdealers generally. Persons in the interior, desiring copies, can have them forwarded by mail, on enclosing, by ictter, four 3-eeut stamps ; ou the reception of which, the paper will be promptly forwarded to the address which may be desiguated. (Wrhten fa the Miuing aml Sclentie Iress} MINING GOSSIP. EDITED NYFRANK WARDDELL. fa this departmentof the Misine axn Sostiric Parss we proase to give various amd dried acenuute of mula companies, aml shalt, muler all circupsstanees. write piaondy reapeetiuy thelr morits andoleunrbs, farthermurn:, sina bring te Meht seh transac. dang as may come withhe aur knowhtgee reganling the “Bniling nel Bearhig™ sy stemand the ‘umlersroanl? acbous ot both Trastess. und Brokers. We are vilin eunugh to suppose, nt nll exits, that we have lhe “inside track." und Mau, without deeitoucy or ferr, else to Chas public, from mir ty tlaie, a peep belitinil dhe scesies whoever the oceusion justites, If lindoling so, ut any thine we heave fallen Ji erroras toonr repart, aml bt cai be so proven, a Tore pleasure Chan to make tlas “ascends h frame, Weshall tel ruder obligalions to ln stock If they will commmunienty te as sarh items ws may come under thelr abservations, and whieh will prove interesting to cur rradeva This department $s npen for Cree ilie-usslon to “one aml all Ovr object ia to n-emler justice tuevery ane. Coummunteations, In all cases. nast contain thie nuthor's name winl address to Insure publication, which will be kept strictly confidentid—-otherwlse noe nue tice wlll be tnken of them.) Orurr Diymesps—Linerarity vs. Liticatioy.— If, in the settlemeut of the late extensive sales in Ophir dividends, which was caneelled by the purehaser paying to the broker of tho seller their respective eommissions, is to be considered, as it is by the majority of Brokers, an act of liberality, we would like to be eulightened as to what the term “liberality” means ; and, furthermore, we would like to know what position the seller would be placed in if he had thonght proper to hold the purehasers to their contracts, and afterwards been proven apainst the scller that he was well aware when disposing of the said dividends that there would he no dividend declared that month, from the very facet that if the balunee of the trustecs deeided to declare one, he had the control in votes to defeat their object. Our readers will remember that there was no dividend declared, and much excitement prevailed at the time among outsiders and members of the different boards. So,.to have no further trouble abont the matter, it was formally fixed np as we have stated ahove ; not, however, until one of the heaviest pnrchasers, not to be “duped” so easily, eave the seller to nnderstand the exaet position he (the seller) stood in, according to the proofs he had obtained, and, what is more, eould substantiate. The report was that ten dollars, at the least calculation. could have heen declared that month; but the seller of dividends eonld not “see it,” or rather wonld not. Now we maintain that if this pretended act of liberality had not been tendered to the many victimized and delnded purchasers, it would have proven a serions affair to the “would he” shrewd operators in dividends. providing that our information is correct, which we have every reason to believe, coming from whenee it does. We would like to ask where is this liberality ?—where does it cxist in this transaction ? Did he not do only an act of compulsion to save his own reputation and a siege of litigation? Why, then, should he receive the praise that so many have aeeorded him? Jt was not our intention to refer to this unpleasant transaction again, bat really it is eo provoking tous to be eontinually hearing from day to day, upom the streets, about this wonderous aet of generosity, and, as we consider these the true facts of the case, thus it isso we consider it onr duty. as a public journal, to give the “why’s and wherefore’s” he was prompted to such an act. Another thing, we believe it is not customary among brokers and operators in stoeks te let buyers off so readily when they have what they term “a good thing,” and the right on their side to hold the buyer to the very letter of his eontract. The idea of the seller doing this simply to “teach brokers and operators in stocks a lesson not to huy dividends,” is, valgarly speaking, “played out.” A Swarr Transserion.—We have been informed of a sharp transaction which took place a fewdays ago, hetween an extensive operator and holder in Sayage stoek and a well known Freneh firm in this eity ; the particulars are these :~The operator in Savage ascertained by some method that the firm in question had sold some property and the purehaser in part payment had paidsome tweuty-eight feet of Savage G. & §. M. Co. stock. In the meantime the operator received a letter stating that the Savage G. & S. M. Co. had struck it exceedingly rich, and that the indi85 cations were surprising, ad, of course as soon as the information got ou the street, up would go the stock, and now was the time for the operator to use his inventive faculties to procure the twenty-eight fect without arousing the suspicions of the holder. so off he started to the Freneh firm, when the following conversation ensued. “Well! I hear you have some Savage,” said the operator, “do you want to sell it?” © No sir,” remarks the representative of the firm. “Then,” said the operator, “do you wish to purchase some, if yon do I will sell you a little for twenty-eight hundred dollars cash?” “Oht” replied the representative, “Ishould think you would. I would sell mine for that price.” No sooner were the words uttered than the operator cried out, “ Sold! call at my office and get a cheek for the amount,” and then left the bewildered representativo of the firm, wondering why he was picked up so quickly. It did not take him very long to aseertam the news, and learn to his sorrow that he wasa loser in profit on the rise of the stock, to the disagreeablo tone of $14,000. Moral:—Always make iuquiry before you plaee a price upon your stocks to anxious purchasers, and especially those who haye the name of being posted. CompiimentarY.—We notice among the list of passengers who took their departure for the East on the steamer St. Louis, Feb. 3d, the name of our mueh esteemed frieud, Mr. James L. Pond, of the firm of Messrs. Chapin & Pond, Stock Brokers, of this city. Mr. Pond was the original diseoverer and loeator of the famous Pond mine. We learn that itis not his intention to remain away long. We wish for him a pleasant trip, and a speedy return to the “Goldeu State.” Paciric Boarp of Broxrrs.—The semi-annual eleetion for officers of this Board took place on the 2d of February, when, after a spirited contest, the following gentlemen were declared elected: President, W. P. Denckla; Vice President, Wm. P. Dewey ; Secretary. James H. Gager; Treasurer, W. EI. Franeis; Sergeant-at-Arms, Charles H. Watson. What a Coxtrast!—On the morning of the 2d inst. a report was current on the streets to the effeet that the Real del Monte mine had given out, and, furthermore, that it would prove just such another mine as the Wide West. ‘This report was set iu aetion by a certain clique of “stock sharpers,” to frighten the timid ones to sell. Jt had its desired effect, by eausing many to sell at low rates, while, of course, the ‘knowing ones” purchased extensively. Onthe evening of the same day, the Real del Monte Compauy received bulliou to the value of $31,000, being the proeeeds of only ten days work ou this famous mine. This don’t look as if this mine had “given out” in any other sense than in an abundant yield of bullion. Tr Maxwell Creek Gold Mining Company have declared a dividend of one dollar per share, payable to-day.—Avening Bulletin, Feb. 3c. Gracious heavens! can it really be possible that we have one more mine to place upon our list as a dividend-paying institutiou, Well done, thou good and faithful Maxwell mine, for, after six years working, thou hast seen fit to compensate thy sanguine owners with the immeuse sn of one dollar per share dividend. Wonderful ! truly wonderful . Lost.—The Chollar Mining Company have lost their lead, aud they offer a liberal reward for the recovery of the same. Further partieulars can be ascertained by applieation to the ‘Trustees, or, iu fact, to any of the uufortunate purchasers who bought into the mine, at figares rauging trom $1,600 and upwards per share. A liberal reward will be paid promptly wheu (the public are) satisfied that it hus been found. No questions asked. Gem of THE Srerras—From six thousand and five hundred pounds of rock recently iaken from this mine and crushed at Fall's mill. Unionville, five silver bricks were obtained, weigbing in the averegate, fifteen hundred and eighty seven ounees—value, $1,500. ‘This speaks well fur Humboldt.

The Rining and Scientific Press, illustrated volumes will appear, !efore the next session of the Legislature opens, will serve as u guide aul key tu these collections, nnd will. as it is bu lieved, be sufficient tu answer the questiun so often raised, especiatly by the newspapers of this city, as to whether our work was anything nore than a shat. Bat time forbids my pursuing these tupies any far. ther. No une can fevl a yreater desire than I do to sev this state attain the highest possible degree of civilization, und I look to the Mechanics‘ listitute as one of the means by whieli this is tu be brought about. Those who seek new regions take npon themselves new responsibilities, nd are willing to meet and nhle to gvereome vreater difficuities, than those who cling more closely to the homes vf their fathers. ‘the greater the obstacles tu be uvereome, the greater the triumph of overcoming trem. A Wnavy Castino.—We witnessed, on Saturday afternoon last, at what is said to have been the heaviest casting ever made ou the Pacific eoast. The cast wus that of an enormous pinion wheel for the San Franciseo Water Works Company, and was made at the Pacific Poundry. The diameter of this wheel is 914 feet, with 16-inch face and a very heavy center or “hub”—the whole weighing between six and seven tons. To make this easting, upwards of eight tons of iron were smelted in two furnaces. ‘The molten iron from these furnaces was drawn off, as fast as it came down, into a huge pot, holding about a ton, whieh, as fast as filled, was earried by a heavy crane to the opposite side of the foundry and emptied into a reservoir. The molten mass was thus accumulated until the requisite quantity vas obtained, when a sinall gate, at the bottom of the reservoir, was opened, and the melted iron suffered to rush ont, and along a prepared sluiceway, into the mould prepared for its reception. The melting of the iron in the furuaees ocenpied just 50 minutes, and the aceumulated inass from the reservoir was run iuto the mould in 2}Z minutes. The operation was witnessed by qnite a number of gentlemen who had been attracted thither by the interest attendant upon so important a pieee of work. The easting wasa most coniplete sueeess and refleets much eredit upou the enterprise and euergy of the proprietors of this extensive foundry. We would take oeeasion, in this connection, to mention that (he Pacifie Foundry has recently made extensive additions to their shop room, by the erection of a briek building 165 feet long by 60 wide, whieh, in addition to their previous buildings, runs entirely through from First to Fremont street. They are also putting in a new and larger engine for driving their works. Other important improvements in the way of buildiugs, additional working facilitics, maehinery, tools, ete., are in progress, whieh, when eompleted, will render this a first class establishment, and fally equal in extent and facilities to any other in this city. Canivormia Coan vs Axturacitn.—We notice a lament ou the part of our fouudrymen over the eost ($35 per ton) of Lehigh (anthraeite) coal. We eommend the following statement to their attention:— Forty years since it was a problem “Ifow to burn anthracite ;” yet irou was then worked in almost the same mode, as now. Again, a ton and a half of bituminous coal, at two-thirds the eost of the anthracite, contains, say as much earbon asa ton of Lehigh. It is obvious, therefore, that the problem now is, “* How to burn our (California) coal.” On the 3d of August last, we called attention to improvements in furnaces whieh should be capable of applieation here. Stcel in France, glass in England, iron ores in Sweden and Spain, have already been worked with economy by the adoption of similar priuciples. Pror, Winryey’s Annress.—A limited number of extra eopies of the * Press” containing this address have been printed, which can be had a, this office, and of the newsdealers generally. Persons in the interior, desiring copies, can have them forwarded by mail, on enclosing, by ictter, four 3-eeut stamps ; ou the reception of which, the paper will be promptly forwarded to the address which may be desiguated. (Wrhten fa the Miuing aml Sclentie Iress} MINING GOSSIP. EDITED NYFRANK WARDDELL. fa this departmentof the Misine axn Sostiric Parss we proase to give various amd dried acenuute of mula companies, aml shalt, muler all circupsstanees. write piaondy reapeetiuy thelr morits andoleunrbs, farthermurn:, sina bring te Meht seh transac. dang as may come withhe aur knowhtgee reganling the “Bniling nel Bearhig™ sy stemand the ‘umlersroanl? acbous ot both Trastess. und Brokers. We are vilin eunugh to suppose, nt nll exits, that we have lhe “inside track." und Mau, without deeitoucy or ferr, else to Chas public, from mir ty tlaie, a peep belitinil dhe scesies whoever the oceusion justites, If lindoling so, ut any thine we heave fallen Ji erroras toonr repart, aml bt cai be so proven, a Tore pleasure Chan to make tlas “ascends h frame, Weshall tel ruder obligalions to ln stock If they will commmunienty te as sarh items ws may come under thelr abservations, and whieh will prove interesting to cur rradeva This department $s npen for Cree ilie-usslon to “one aml all Ovr object ia to n-emler justice tuevery ane. Coummunteations, In all cases. nast contain thie nuthor's name winl address to Insure publication, which will be kept strictly confidentid—-otherwlse noe nue tice wlll be tnken of them.) Orurr Diymesps—Linerarity vs. Liticatioy.— If, in the settlemeut of the late extensive sales in Ophir dividends, which was caneelled by the purehaser paying to the broker of tho seller their respective eommissions, is to be considered, as it is by the majority of Brokers, an act of liberality, we would like to be eulightened as to what the term “liberality” means ; and, furthermore, we would like to know what position the seller would be placed in if he had thonght proper to hold the purehasers to their contracts, and afterwards been proven apainst the scller that he was well aware when disposing of the said dividends that there would he no dividend declared that month, from the very facet that if the balunee of the trustecs deeided to declare one, he had the control in votes to defeat their object. Our readers will remember that there was no dividend declared, and much excitement prevailed at the time among outsiders and members of the different boards. So,.to have no further trouble abont the matter, it was formally fixed np as we have stated ahove ; not, however, until one of the heaviest pnrchasers, not to be “duped” so easily, eave the seller to nnderstand the exaet position he (the seller)

stood in, according to the proofs he had obtained, and, what is more, eould substantiate. The report was that ten dollars, at the least calculation. could have heen declared that month; but the seller of dividends eonld not “see it,” or rather wonld not. Now we maintain that if this pretended act of liberality had not been tendered to the many victimized and delnded purchasers, it would have proven a serions affair to the “would he” shrewd operators in dividends. providing that our information is correct, which we have every reason to believe, coming from whenee it does. We would like to ask where is this liberality ?—where does it cxist in this transaction ? Did he not do only an act of compulsion to save his own reputation and a siege of litigation? Why, then, should he receive the praise that so many have aeeorded him? Jt was not our intention to refer to this unpleasant transaction again, bat really it is eo provoking tous to be eontinually hearing from day to day, upom the streets, about this wonderous aet of generosity, and, as we consider these the true facts of the case, thus it isso we consider it onr duty. as a public journal, to give the “why’s and wherefore’s” he was prompted to such an act. Another thing, we believe it is not customary among brokers and operators in stoeks te let buyers off so readily when they have what they term “a good thing,” and the right on their side to hold the buyer to the very letter of his eontract. The idea of the seller doing this simply to “teach brokers and operators in stocks a lesson not to huy dividends,” is, valgarly speaking, “played out.” A Swarr Transserion.—We have been informed of a sharp transaction which took place a fewdays ago, hetween an extensive operator and holder in Sayage stoek and a well known Freneh firm in this eity ; the particulars are these :~The operator in Savage ascertained by some method that the firm in question had sold some property and the purehaser in part payment had paidsome tweuty-eight feet of Savage G. & §. M. Co. stock. In the meantime the operator received a letter stating that the Savage G. & S. M. Co. had struck it exceedingly rich, and that the indi85 cations were surprising, ad, of course as soon as the information got ou the street, up would go the stock, and now was the time for the operator to use his inventive faculties to procure the twenty-eight fect without arousing the suspicions of the holder. so off he started to the Freneh firm, when the following conversation ensued. “Well! I hear you have some Savage,” said the operator, “do you want to sell it?” © No sir,” remarks the representative of the firm. “Then,” said the operator, “do you wish to purchase some, if yon do I will sell you a little for twenty-eight hundred dollars cash?” “Oht” replied the representative, “Ishould think you would. I would sell mine for that price.” No sooner were the words uttered than the operator cried out, “ Sold! call at my office and get a cheek for the amount,” and then left the bewildered representativo of the firm, wondering why he was picked up so quickly. It did not take him very long to aseertam the news, and learn to his sorrow that he wasa loser in profit on the rise of the stock, to the disagreeablo tone of $14,000. Moral:—Always make iuquiry before you plaee a price upon your stocks to anxious purchasers, and especially those who haye the name of being posted. CompiimentarY.—We notice among the list of passengers who took their departure for the East on the steamer St. Louis, Feb. 3d, the name of our mueh esteemed frieud, Mr. James L. Pond, of the firm of Messrs. Chapin & Pond, Stock Brokers, of this city. Mr. Pond was the original diseoverer and loeator of the famous Pond mine. We learn that itis not his intention to remain away long. We wish for him a pleasant trip, and a speedy return to the “Goldeu State.” Paciric Boarp of Broxrrs.—The semi-annual eleetion for officers of this Board took place on the 2d of February, when, after a spirited contest, the following gentlemen were declared elected: President, W. P. Denckla; Vice President, Wm. P. Dewey ; Secretary. James H. Gager; Treasurer, W. EI. Franeis; Sergeant-at-Arms, Charles H. Watson. What a Coxtrast!—On the morning of the 2d inst. a report was current on the streets to the effeet that the Real del Monte mine had given out, and, furthermore, that it would prove just such another mine as the Wide West. ‘This report was set iu aetion by a certain clique of “stock sharpers,” to frighten the timid ones to sell. Jt had its desired effect, by eausing many to sell at low rates, while, of course, the ‘knowing ones” purchased extensively. Onthe evening of the same day, the Real del Monte Compauy received bulliou to the value of $31,000, being the proeeeds of only ten days work ou this famous mine. This don’t look as if this mine had “given out” in any other sense than in an abundant yield of bullion. Tr Maxwell Creek Gold Mining Company have declared a dividend of one dollar per share, payable to-day.—Avening Bulletin, Feb. 3c. Gracious heavens! can it really be possible that we have one more mine to place upon our list as a dividend-paying institutiou, Well done, thou good and faithful Maxwell mine, for, after six years working, thou hast seen fit to compensate thy sanguine owners with the immeuse sn of one dollar per share dividend. Wonderful ! truly wonderful . Lost.—The Chollar Mining Company have lost their lead, aud they offer a liberal reward for the recovery of the same. Further partieulars can be ascertained by applieation to the ‘Trustees, or, iu fact, to any of the uufortunate purchasers who bought into the mine, at figares rauging trom $1,600 and upwards per share. A liberal reward will be paid promptly wheu (the public are) satisfied that it hus been found. No questions asked. Gem of THE Srerras—From six thousand and five hundred pounds of rock recently iaken from this mine and crushed at Fall's mill. Unionville, five silver bricks were obtained, weigbing in the averegate, fifteen hundred and eighty seven ounees—value, $1,500. ‘This speaks well fur Humboldt.