Volume 13 (1866) (424 pages)

114. The Mining and Srientific Dress, Gomamiuteations. in rais DEPARTMENT we invite the FREE Discussion of all proper subjects—correspondents rlone being responsible for the ideas and theorles they advance, {Written for the Minlng and Seclentific Press.] Reese River Correspondence. (Continued from Page 386 Vol. XILJ Messrs. Eprrors: Very little lahor is heing done on the mines in the immediate viciuity of Austin, at present, the attention of all heing directed to other districts. In trutb, there is very little encouragement for claim holders, or even agents of compauies to do work here, there heing a great reluctance shown by the heads of mining companies to pny necessary demands. such as lahor, aside from expenses caused hy extra machinery, etc. There also seems to he a general dissatisfaction showa by Eastern capitalists, in their investments in and about this district, caused principally by tbe delay ja receiving their oft promised dividends. How much longer they will have to wait for them, depends wholly upon theiraction. They see that their neighbor makes headway with his mine, and is getting returns therelrom; while they, after baving spent much the most money, still get nothing. If they would view the matter in a practical light, they would very readily see where the difficulty lies. The shipment of hullion from Austin for the month ending July 31st, was $80,674.61. The National Baok having shipped $51,076.70, and Wells, Fargo & Co. $29,597.91, being $20,841.65 less than the shipments for June. The falling off was caused by the suspension of operations at the Manhattan, Boston, and Midas mills. The California, Keystoue, and Ware mills heing the only mills running during the month of July. It must look strange to parties elsewhere, that with all our mills and the abundance of quartz we have here, there cannot he kept running over thirty-five stamps. Such seems to be the case, however; and hence the question arises, Why is it? Canit be, after the outlay of millions of dollars in this district in mining machinery and mills, the whole dis. trict cannot produce more than thirty or torty toas of ore per diem? Yes, so it is! and why? The answer is very simple, has been often repeated, and should be readily nnderstood hy all reasoning beings: That the district has been, and is daily heing literally hutchered by inexperienced mauagers, who apparently have only oae object in view, to wit: To disgust. their employers, and bring down their maledictioas through their ill success, on the whole silver-bearing world; and I will say, that as far as this section is concerned, they have pretty nearly accomplished ‘their end. Had it not heen that adveuturous men had prospected, elsewhere, and after diligent search, hard living, and the endurance of privations of all kinds had discovered and opened, to the satisfaction of every one, larger and better ledges than have yet been found here, it would have been a “ dead heat” with us for some time to come. As it is, the attention of all is heiag directed to Philadelphia, Twia River, Hot Creek, Northumherland, and other districts sonth and east of this place. . This city is (comparatively speakiag) almost depopulated on acconnt of these outside developments, and it is not a “wild goose. chase" this time, that our miners are after; but a plain ease of large, well-defined and rich ledges. THE HIGH BRIDDE LEDGE. It is conceded by all, either ‘ knowing ones” or the hard fisted, hard working miner, who believes only that which he sees and has indisputahle ocular demoustration of, that the High Bridge ledge, in the Philadelphia district, is ‘the largest and best ledge yet shown to the world. Men who have worked with pick, shoveland drill, in the great Comstock, say that this ledge far exceeds it, hoth in the quality and quantity of ores. The ledge has been opened by a cut run through it from wall to wall, at a perpendiculur depth of forty feet, showing a vein of twenty-five feet in width, ‘with well defined smooth walls, thereby exposjag to the light of day, and to the greedy gaze mine, has conveyed about fifty tons of the ore worked hy the usual rousting proccss, within of all that can possibly get to see it, the finest . hody of ore ever yet discovered in any country. . 1am safe in saying that the whole ledge inatter . will yield $200 per toa. Dr. Geller, one of the owners, hauled two tons from the urine to bis mill, in this city, where it was reduced, and produced 2,020 ounces of crude hullion, which, when melted and refined will show a working of over $750 pex ton ; (this of course was selected ore. Other large ledges have been discovered in that district, but none of them areas yet as fully developed as the High Bridge. Success to the owners, and to all others, who display a hike energy in the discovery and development of their mines. Buel has removed a mill from Austin, and erected it aear High Bridge, all inside of six weeks, aud now bas it in running order. TWIN RIVER DISTRICT. Mauch attention is being directed to Twin River District, large ledges are being opened with success to their owners, Mr. G. B. Montgomery of the Twin Ophir and Fairmount to the Keystoue mill of this pluce,a distance of fifty-five miles. ‘he ore, though of a character difficnlt to reduce, being composed of base metals, iron, ziuc, antimony, sulphur, and arsenic, with little or no quartz.,in view, was nineteen per cent., and yielding $100 per ton in silver. The Canada ledge of the same district, owned by HE. 8. Davis and others, is an enormous mine, large, well-defined, and has worked here per mill process, $175 per ton. Another lot of several tons is now heing brought here for trial. ‘The Buckeye ledge, as well as the celebrated Murphy, still hold their own, growing better as developed. OTHER DISTRICTS. In the discoveries made in these new districts, and the energy displayed by the discoverers, our country will be rehuilt, and confidence will be again placed in the mineral worth of the country ; hut some timé must elapse before machinery can he arronged on these permanent ledges. When such is done, there will be no lack of bullion. ‘hat is “what is the matter,” and in truth, is the only salve that will heal the wounded spirits, and repair the damaged purses of our sanguine speculators aud mill owners. We nll look forward to that time with pleasure, knowing well, that it is only a matter of time ; but we have all waited so long for something to ‘turn up,” that the least reverse iu mining matters again brings a cloud over our future. As itis now, let there be success proven in a few instances, and others will thea take hold with a will, when prosperity will be with us; but while this dormant indifference predominates with our capitalists, as in this district, little will he done towards our advancement. Procress. Austin, August 12, 1866. [Written for the Mining and Scientific Press.] From Sierra County, BY AN INDEPENDENT CONTRIBUTOR, Epirors Press: Downieville, the county seat of Sierra, situated at the junction of the North and South Forks of the North Yuba river, is a noteworthy ploce, not only for its geographical position in the center of a rich mining locality—both placer and quartz—but also for its heing the head of wagon-road aavigation, through and from which the various placer mining camps and quartz miues receive their supplies. The placer yield of her gold fields has been so hountiful until a recent date, that but very little attention has heen paid to the more reli-. which is now attracting considerable attention. . Rich veins are hcing daily discovered and rapidly developed, while the placer yield is hy no means exbausted. Sierra, to-dnoy, has probahly a greater area of placer fields, as yet virgin, than any other county in tbe State, owing principally to the nature of its deposits (the blue lead) heing buried hundreds of feet ia depth hy basaltic lavas, requiring expeusive and systematic exploratioas to develop them. Her area of bydraulic diggings is surpassed hy none, either in richness or extent, and her tiver heds are aot yet exhansted, but are periodically worked, yielding satisfactory returns. As I helore remarked, quartz mining, as a husiness, has received hut little attention , as it requires both capital and mining and mechanical skill to develop and successfully work them. Wherever opened and tested, ia every instance they have paid bountifully. Ir some ". able and permanent industry of quartz ane ahuvut 1,000 feet of tunnel, well constructed, few instances the operator has abandoned his property after the line of decomposition has been reached, above which the sulphurets, which are principally iron, bave been oxydized by the oxygen of the atmosphere and other deoxydizing ngents, and the gold freed. Below the water-line the gold is found firmly held in the sulphuret, and crude manipulntions, hy simple. amalgamations, the only process in use here, hns failed to give a satisfnctory result. Miners have hecome discouraged aud thrown up the sponge. Of the most notable mines in this vicinity that havea record, we find the Sierra Buttes company, Independenco compnny, Keystone, American Hill, Primrose, Gold Volley, Spencer & Gray, Gold Bluff, Montpelier, Sailor, Oro, and Slug Canon companies, the most of them in successtul opcration, others ia a state of development, while there are inany others of recent discovery that bid lair to become properties of great value, and of which I will give a more detailed account In my next. Downieville, August, 1866. Vin. (Written for the Minlng and Selentifie Press.] The Mines of Idaho. Epitors Press :—Being a constant reader of your very valuable paper, I have often wondered why you do not give more space to the mining interests of Idaho, and I have partly made up my mind that it is aot your fault oltogether, hut thut you have no correspondents in this part of the world. Now, heing myself a “miner,” and one of the pioneers of Iduho Territory, I feel that a few observations on the quartz mines of Idaho would not be amiss in the Mininc anp Scientirio Press; and, furthermore, owing to tbe many false impressions which have gone abroad in regard to the mines of our Territory, I wish to show the cause of these misstatementa. The quartz mines of Idaho emhrace Boise, . Alturas, aud Owyhee couuties—the latter sil. ver. But I will confine myself more particularly to the interests of Boise county, being more intimately acquainted there. Starting with Idaho City and vicinity, I will commeace with the Illinois, owned by Messrs. White, Harmer & Co. This company have a fine lv-stamp steam mill, which has heen at work for nearly eight months, and one 20-stamp mill on the ground, hut not putup. ‘heir mine is now well developed, and is paying very handsomely. It is located about four miles north of Idaho City, and they employ about twenty hands. Then we come to the Middleton mine and mill, located about halfway between Idaho City and Centerville, on the divide hetweea ElE and Grimes Creeks. This mill has heen ronning about three months, and has yielded, on an average, twenty dollars per ton. They have a 10-stamp steaai mill, aud work ahout fifteea bands. This mine is not quite as well developed as some others, but, without douht, will prove equal to any iothe Territory whea fairly in operation. Next we come to the Elk Horn Gold and Silver mining company's mine and mill, which is situated on the head of Elk Creek, ahout fourteen miles due aorth from Idaho City, aad about seven miles due east from Pioneer City. This company was incorporated in 1864, under the general laws of Idaho ‘Territory. ‘They own 5,400 feet, and have prospected the mine to the depth of 300 feet. They are now running another level 100 feet deeper. They have . and in fine shape. ‘The quartz, since commeacing to crush, has averaged over forty dollars per ton, and has paid ag high as $140. ‘The principal part of the stock is owned in Pioneer City. The officers of the company are: ©. L. Harrington, President; Joshua Saunders, Vice President; W. W. Chapman, Jr., Secretary; C. E. Freemaa aad Jobn R. Miller, Trustees. This company started without a dollar, and is now entirely out of debt, and will soon begin to declare dividends. More anon. Taauo. Pioneer City, August 9th, 1866. <_ + Tue On, Strong miine recently discovcred hy Charles H. Eaton and Wm. C. Holmes, near the Merced river, between Ilorse Bend and Don Pedro Bar, is attracting a good deal of attention. Barbers and others competent to judge say that the stone is supvrior to aay other kind now ju use. Since the first discovery, the mine has been opencd nud found to be very extensive. Specimens of the stoae have beea left at this office. Quirr a poetical cbild was the little one that said: “ Mother, listea to the wind mak‘ing music for tbe leaves to dance.” ANNUAL \REPORT OF THE SAVAGE MINING COMPANY, Tbe annnal reports of the President, Superintendent and Secretary of this company, for the fiscal year ending July 10th, 1866, are highly encouraging to the stockholders. The President assures the stockholders “that a profitable future awaits thein,” and that there is no apparent renson “why the earnings of tbe mine hereafter will not he sufficient to meet all its current expenses, and pay satisfactory dividends.” ‘he financial condition of the company a year ago was anything hut flattering. The debts at that time, past due, amounted to the large sum of $111,099, while those olready incurred, which had to he provided for during the current year, reach the sum of $306,138, or a total of $417,237. During the past year the whole amount of this large indebtedness has been paid, with the small exception of $12,800, which was to have been paid in a few days subsequeat to the date of the report. The whole amount has been paid out of the earuings of the mine, with the exception of one assessment of $80,000. The present amount of liabilities is only $59,730, to meet which the compnny has cash assets of $100,259, leaving a cash balance, over all liabilities, of $40,529. During the year, 29,535 tons of ore from the mine have heen reduced, yielding $1,251,753, or $42.39 per ton. The cost of reduction, including improvements upon the mill, has been $16.74 per ton. The cost of raising 30,652 tons,-has been at the rate of $18.06 per ton; which includes a reasonable amount of sinking, prospecting, and other dead work necessary to keep the iaine in good order and properly developed ahead. The profits on the ore, over and ahove the curreat expenses of raising and crusbiny, have heen $7.59 per ton; without toking into account $13,438 reccived for ores sold, on which there was no cost to the company for reduction. The Superintendent speaks very enconragingly of the present appearance and condition of the mine. There is a very large amount of good ore in sight; while tho developments in the mine itself, and in the adjoining claims, gives evidence of the most encouraging character with regard to those portions of the mino which have not yet been explored. The total yield of the mine up to July 10th, 1866, has been $4,243,660. The average yield per toa, previous to the present year, has been $44.35 ; the average for the present year has been $42.59—exclusive of some 200 tors of very rich ore which has heen sold at the mine and in Hurope. The original main shaft of this mine has reached a depth of 520 feet ; the new “ Curtis shaft ’’ is now down 425 feet. The machinery now at the mine is considered sufficieat to work the same to the.depth of 2,000 feet. The President, in closing his report, makes the following very proper suggestions : All mining enterprises on our coast have so many interests in cummon, that it seems to me there should be cultivated a mutanl and better understanding betwecen those eagaged in the various hrauches of mining, and particularly with those companies cngaged in the production of the same metal. Organizations have always existed hy those enguged in like occupation, for the porpose of information, advancement and protection. Mining officers have committed to their care and management a vast amount of very valuable property ; therefore, to giva proper direction and obtain the advantages of experience, it would be well that they form themselves into an association, for the pnrpose of exchaaging the knowledge aad experience acquired in the modes of working mines; the manner of treatingyores; systematize the price and management of labor; to adjust questions that may arise between companies, and devise proper nieans of defense against blackmailing attacks and malicious trespasses. Mneh good and certainly great improvement might grow out of such an organization. = Tne San Joaquin AGnicunroran Farr anp IspusrriaL Exmizition will he held ia Stock” toa, commencing on Monday, September 18th, and will continue four days. Weacknowledge the reception of an invitation to he present. XN France has 11,500 miles of navigahle streams.

114. The Mining and Srientific Dress, Gomamiuteations. in rais DEPARTMENT we invite the FREE Discussion of all proper subjects—correspondents rlone being responsible for the ideas and theorles they advance, {Written for the Minlng and Seclentific Press.] Reese River Correspondence. (Continued from Page 386 Vol. XILJ Messrs. Eprrors: Very little lahor is heing done on the mines in the immediate viciuity of Austin, at present, the attention of all heing directed to other districts. In trutb, there is very little encouragement for claim holders, or even agents of compauies to do work here, there heing a great reluctance shown by the heads of mining companies to pny necessary demands. such as lahor, aside from expenses caused hy extra machinery, etc. There also seems to he a general dissatisfaction showa by Eastern capitalists, in their investments in and about this district, caused principally by tbe delay ja receiving their oft promised dividends. How much longer they will have to wait for them, depends wholly upon theiraction. They see that their neighbor makes headway with his mine, and is getting returns therelrom; while they, after baving spent much the most money, still get nothing. If they would view the matter in a practical light, they would very readily see where the difficulty lies. The shipment of hullion from Austin for the month ending July 31st, was $80,674.61. The National Baok having shipped $51,076.70, and Wells, Fargo & Co. $29,597.91, being $20,841.65 less than the shipments for June. The falling off was caused by the suspension of operations at the Manhattan, Boston, and Midas mills. The California, Keystoue, and Ware mills heing the only mills running during the month of July. It must look strange to parties elsewhere, that with all our mills and the abundance of quartz we have here, there cannot he kept running over thirty-five stamps. Such seems to be the case, however; and hence the question arises, Why is it? Canit be, after the outlay of millions of dollars in this district in mining machinery and mills, the whole dis. trict cannot produce more than thirty or torty toas of ore per diem? Yes, so it is! and why? The answer is very simple, has been often repeated, and should be readily nnderstood hy all reasoning beings: That the district has been, and is daily heing literally hutchered by inexperienced mauagers, who apparently have only oae object in view, to wit: To disgust. their employers, and bring down their maledictioas through their ill success, on the whole silver-bearing world; and I will say, that as far as this section is concerned, they have pretty nearly accomplished ‘their end. Had it not heen that adveuturous men had prospected, elsewhere, and after diligent search, hard living, and the endurance of privations of all kinds had discovered and opened, to the satisfaction of every one, larger and better ledges than have yet been found here, it would have been a “ dead heat” with us for some time to come. As it is, the attention of all is heiag directed to Philadelphia, Twia River, Hot Creek, Northumherland, and other districts sonth and east of this place. . This city is (comparatively speakiag) almost depopulated on acconnt of these outside developments, and it is not a “wild goose. chase" this time, that our miners are after; but a plain ease of large, well-defined and rich ledges. THE HIGH BRIDDE LEDGE. It is conceded by all, either ‘ knowing ones” or the hard fisted, hard working miner, who believes only that which he sees and has indisputahle ocular demoustration of, that the High Bridge ledge, in the Philadelphia district, is ‘the largest and best ledge yet shown to the world. Men who have worked with pick, shoveland drill, in the great Comstock, say that this ledge far exceeds it, hoth in the quality and quantity of ores. The ledge has been opened by a cut run through it from wall to wall, at a perpendiculur depth of forty feet, showing a vein of twenty-five feet in width, ‘with well defined smooth walls, thereby exposjag to the light of day, and to the greedy gaze mine, has conveyed about fifty tons of the ore worked hy the usual rousting proccss, within of all that can possibly get to see it, the finest . hody of ore ever yet discovered in any country. . 1am safe in saying that the whole ledge inatter . will yield $200 per toa. Dr. Geller, one of the owners, hauled two tons from the urine to bis mill, in this city, where it was reduced, and produced 2,020 ounces of crude hullion, which, when melted and refined will show a working of over $750 pex ton ; (this of course was selected ore. Other large ledges have been discovered in that district, but none of them areas yet as fully developed as the High Bridge. Success to the owners, and to all others, who display a hike energy in the discovery and development of their mines. Buel has removed a mill from Austin, and erected it aear High Bridge, all inside of six weeks, aud now bas it in running order. TWIN RIVER DISTRICT. Mauch attention is being directed to Twin River District, large ledges are being opened with success to their owners, Mr. G. B. Montgomery of the Twin Ophir and Fairmount to the Keystoue mill of this pluce,a distance of fifty-five miles. ‘he ore, though of a character difficnlt to reduce, being composed of base metals, iron, ziuc, antimony, sulphur, and arsenic, with little or no quartz.,in view, was nineteen per cent., and yielding $100 per ton in silver. The Canada ledge of the same district, owned by HE. 8. Davis and others, is an enormous mine, large, well-defined, and has worked here per mill process, $175 per ton. Another lot of several tons is now heing brought here for trial. ‘The Buckeye ledge, as well as the celebrated Murphy, still hold their own, growing better as developed. OTHER DISTRICTS. In the discoveries made in these new districts, and the energy displayed by the discoverers, our country will be rehuilt, and confidence will be again placed in the mineral worth of the country ; hut some timé must elapse before machinery can he arronged on these permanent ledges. When such is done, there will be no lack of bullion. ‘hat is “what is the matter,” and in truth, is the only salve that will heal the wounded spirits, and repair the damaged purses of our sanguine speculators aud mill owners. We nll look forward to that time with pleasure, knowing well, that it is only a matter of time ; but we have all waited so long for something to ‘turn up,” that the least reverse iu mining matters again brings a cloud over our future. As itis now, let there be success proven in a few instances, and others will thea take hold with a will, when prosperity will be with us; but while this dormant indifference predominates with our capitalists, as in this district, little will he done towards our advancement. Procress. Austin, August 12, 1866. [Written for the Mining and Scientific Press.] From Sierra County, BY AN INDEPENDENT CONTRIBUTOR, Epirors Press: Downieville, the county seat of Sierra, situated at the junction of the North and South Forks of the North Yuba river, is a noteworthy ploce, not only for its geographical position in the center of a rich mining locality—both placer and quartz—but also for its heing the head of wagon-road aavigation, through and from which the various placer mining camps and quartz miues receive their supplies. The placer yield of her gold fields has been so hountiful until a recent date, that but very little attention has heen paid to the more reli-. which is now attracting considerable attention. . Rich veins are hcing daily discovered and rapidly developed, while the placer yield is hy no means exbausted. Sierra, to-dnoy, has probahly a greater area of placer fields, as yet virgin, than any other county in tbe State, owing principally to the nature of its deposits (the blue lead) heing buried hundreds of feet ia depth hy basaltic lavas, requiring expeusive and systematic exploratioas to develop them. Her area of bydraulic diggings is surpassed hy none, either in richness or extent, and her tiver heds are aot yet exhansted, but are periodically worked, yielding satisfactory returns. As I helore remarked, quartz mining, as a husiness, has received hut little attention , as it requires both capital and mining and mechanical skill to develop and successfully work them. Wherever opened and tested, ia every instance they have paid bountifully. Ir some ". able and permanent industry of quartz ane ahuvut 1,000 feet of tunnel, well constructed,

few instances the operator has abandoned his property after the line of decomposition has been reached, above which the sulphurets, which are principally iron, bave been oxydized by the oxygen of the atmosphere and other deoxydizing ngents, and the gold freed. Below the water-line the gold is found firmly held in the sulphuret, and crude manipulntions, hy simple. amalgamations, the only process in use here, hns failed to give a satisfnctory result. Miners have hecome discouraged aud thrown up the sponge. Of the most notable mines in this vicinity that havea record, we find the Sierra Buttes company, Independenco compnny, Keystone, American Hill, Primrose, Gold Volley, Spencer & Gray, Gold Bluff, Montpelier, Sailor, Oro, and Slug Canon companies, the most of them in successtul opcration, others ia a state of development, while there are inany others of recent discovery that bid lair to become properties of great value, and of which I will give a more detailed account In my next. Downieville, August, 1866. Vin. (Written for the Minlng and Selentifie Press.] The Mines of Idaho. Epitors Press :—Being a constant reader of your very valuable paper, I have often wondered why you do not give more space to the mining interests of Idaho, and I have partly made up my mind that it is aot your fault oltogether, hut thut you have no correspondents in this part of the world. Now, heing myself a “miner,” and one of the pioneers of Iduho Territory, I feel that a few observations on the quartz mines of Idaho would not be amiss in the Mininc anp Scientirio Press; and, furthermore, owing to tbe many false impressions which have gone abroad in regard to the mines of our Territory, I wish to show the cause of these misstatementa. The quartz mines of Idaho emhrace Boise, . Alturas, aud Owyhee couuties—the latter sil. ver. But I will confine myself more particularly to the interests of Boise county, being more intimately acquainted there. Starting with Idaho City and vicinity, I will commeace with the Illinois, owned by Messrs. White, Harmer & Co. This company have a fine lv-stamp steam mill, which has heen at work for nearly eight months, and one 20-stamp mill on the ground, hut not putup. ‘heir mine is now well developed, and is paying very handsomely. It is located about four miles north of Idaho City, and they employ about twenty hands. Then we come to the Middleton mine and mill, located about halfway between Idaho City and Centerville, on the divide hetweea ElE and Grimes Creeks. This mill has heen ronning about three months, and has yielded, on an average, twenty dollars per ton. They have a 10-stamp steaai mill, aud work ahout fifteea bands. This mine is not quite as well developed as some others, but, without douht, will prove equal to any iothe Territory whea fairly in operation. Next we come to the Elk Horn Gold and Silver mining company's mine and mill, which is situated on the head of Elk Creek, ahout fourteen miles due aorth from Idaho City, aad about seven miles due east from Pioneer City. This company was incorporated in 1864, under the general laws of Idaho ‘Territory. ‘They own 5,400 feet, and have prospected the mine to the depth of 300 feet. They are now running another level 100 feet deeper. They have . and in fine shape. ‘The quartz, since commeacing to crush, has averaged over forty dollars per ton, and has paid ag high as $140. ‘The principal part of the stock is owned in Pioneer City. The officers of the company are: ©. L. Harrington, President; Joshua Saunders, Vice President; W. W. Chapman, Jr., Secretary; C. E. Freemaa aad Jobn R. Miller, Trustees. This company started without a dollar, and is now entirely out of debt, and will soon begin to declare dividends. More anon. Taauo. Pioneer City, August 9th, 1866. <_ + Tue On, Strong miine recently discovcred hy Charles H. Eaton and Wm. C. Holmes, near the Merced river, between Ilorse Bend and Don Pedro Bar, is attracting a good deal of attention. Barbers and others competent to judge say that the stone is supvrior to aay other kind now ju use. Since the first discovery, the mine has been opencd nud found to be very extensive. Specimens of the stoae have beea left at this office. Quirr a poetical cbild was the little one that said: “ Mother, listea to the wind mak‘ing music for tbe leaves to dance.” ANNUAL \REPORT OF THE SAVAGE MINING COMPANY, Tbe annnal reports of the President, Superintendent and Secretary of this company, for the fiscal year ending July 10th, 1866, are highly encouraging to the stockholders. The President assures the stockholders “that a profitable future awaits thein,” and that there is no apparent renson “why the earnings of tbe mine hereafter will not he sufficient to meet all its current expenses, and pay satisfactory dividends.” ‘he financial condition of the company a year ago was anything hut flattering. The debts at that time, past due, amounted to the large sum of $111,099, while those olready incurred, which had to he provided for during the current year, reach the sum of $306,138, or a total of $417,237. During the past year the whole amount of this large indebtedness has been paid, with the small exception of $12,800, which was to have been paid in a few days subsequeat to the date of the report. The whole amount has been paid out of the earuings of the mine, with the exception of one assessment of $80,000. The present amount of liabilities is only $59,730, to meet which the compnny has cash assets of $100,259, leaving a cash balance, over all liabilities, of $40,529. During the year, 29,535 tons of ore from the mine have heen reduced, yielding $1,251,753, or $42.39 per ton. The cost of reduction, including improvements upon the mill, has been $16.74 per ton. The cost of raising 30,652 tons,-has been at the rate of $18.06 per ton; which includes a reasonable amount of sinking, prospecting, and other dead work necessary to keep the iaine in good order and properly developed ahead. The profits on the ore, over and ahove the curreat expenses of raising and crusbiny, have heen $7.59 per ton; without toking into account $13,438 reccived for ores sold, on which there was no cost to the company for reduction. The Superintendent speaks very enconragingly of the present appearance and condition of the mine. There is a very large amount of good ore in sight; while tho developments in the mine itself, and in the adjoining claims, gives evidence of the most encouraging character with regard to those portions of the mino which have not yet been explored. The total yield of the mine up to July 10th, 1866, has been $4,243,660. The average yield per toa, previous to the present year, has been $44.35 ; the average for the present year has been $42.59—exclusive of some 200 tors of very rich ore which has heen sold at the mine and in Hurope. The original main shaft of this mine has reached a depth of 520 feet ; the new “ Curtis shaft ’’ is now down 425 feet. The machinery now at the mine is considered sufficieat to work the same to the.depth of 2,000 feet. The President, in closing his report, makes the following very proper suggestions : All mining enterprises on our coast have so many interests in cummon, that it seems to me there should be cultivated a mutanl and better understanding betwecen those eagaged in the various hrauches of mining, and particularly with those companies cngaged in the production of the same metal. Organizations have always existed hy those enguged in like occupation, for the porpose of information, advancement and protection. Mining officers have committed to their care and management a vast amount of very valuable property ; therefore, to giva proper direction and obtain the advantages of experience, it would be well that they form themselves into an association, for the pnrpose of exchaaging the knowledge aad experience acquired in the modes of working mines; the manner of treatingyores; systematize the price and management of labor; to adjust questions that may arise between companies, and devise proper nieans of defense against blackmailing attacks and malicious trespasses. Mneh good and certainly great improvement might grow out of such an organization. = Tne San Joaquin AGnicunroran Farr anp IspusrriaL Exmizition will he held ia Stock” toa, commencing on Monday, September 18th, and will continue four days. Weacknowledge the reception of an invitation to he present. XN France has 11,500 miles of navigahle streams.