Volume 17 (1868) (428 pages)

56 The Mining and Scientific Press. E BD alin Scientific Press. Mining way Scientific 2p W. B. EWER,. 0. cet eee teee cece ce tee ceeeee SeNion Epitor. @. W. NM. SMITIL W. B. WWER. AL, DRWEY. DEWity & CoO., Publishers. Orrrce—No.505 Clay street. corner of Sansome, 2d floor. Terms of Subscription: One copy, per annum, im aAdvance..sserererseenees! $5 00 One copy, six months, in Advance, ..-.-eeeeee seater 3 bar For sale by Carriers and Newsdealcrs.~e Writers should be cantious about addressing correspond encerelating to the business or Intcrests at 4 firm to an in dividual member thereof, whose abscnée at the time might caus delay. —— eo Canvassing Agents. Our Friexps can do much in ald of our paper and the cause of praetical knowledge and sctence, by assisting our Agents in their labors of canvassing, by lending their influence and encouraging favors. We shall send none but avorthy men. Knox, is onr city soliciting and coliccting gent and ali subsoriptions, or other tnvors extended tp: , willbe dulv acknowledged at this office. Jan. 11, 1866. ae . . Wates is our duly authorized traveling . duly 6, 1867. at a A. iy Butler is a dniy autharized traveling agent and correspondent for this paper. July 15, 1867. San Francisco: Saturday Morning, July 25, 1868 Notices to Correspondents. Atpna.—It is not uncommon when employing the word element in its popular acceptation, to use it in the same sense in whicb it was applied by the ancients, viz.: as denoting fire, air, earth and water. All these have been shown, during the last century, to be compounds; and the term is now only used, scientifically, to denote bodies which, up to the present period, have resisted all efforts made to decompose them. ‘The total number of what are now considered elements isabout sixty-five. The well-known metals are among tbe most numerous, to which have to be added the gases,—hydrogen, oxygen, chlorine and nitrogeu, carbon, silicon and boron, sulphur, phosphorus, ete.; the remainder, uot enumerated above, are relatively unimportant so far as quantity is concerned. ARcHmoLOGISt.—Chemistry cannot be asserted to have had an existeuce prior to the sixteenth century. We find in the writings of the earlier chemists, many curious and important facts and discoveries, which remained useless and unapplied, so long as men’s miuds were exclusively employed with the transmutation of metals, the composition of an universal elixir, aud the production of the Alcahest or general solvent. It is sometimes profitable and generally amusing to revert to these crude speculations and waking dreams of the writers on such subjects, who were eminent diwing the fourteenth and two successive centuries ; but the time of astudent will be more usefully occupied in garnering the labors of those who, discarding visionary hypotheses, proeeed to the investigation of truth by the steady light obtainable from the sun of philosophy. Lirxos.—Silica or silicie acid, may be obtained in a state of purity as follows: Heat to redness, in » platinum crucible, powdered rock crystal (quartz) with a quantity of carbonate of soda or potash; add to the solution a quantity of hydrochloric (muriatic) acid, and evaporate to dryness; afine gritty powder will remain, which on being well washed with water, and subsequently ignited, will leave a residue of pure silica. Prospector, Napa County.—Nickel and cobalt may be separated by adding cyauide of potassium to a solution of those metals; a precipitate of cyanide of nickel will thus be formed, which re-dissolves on adding an excess of the re-agent,—a double compound of cyanide of nickel and potassium being produced, which is soluble in water. The double cyanide is to be docomposed by dilute sulphuric acid, with precipitation of cyanide of nickel. L. §., Hunter’s Valley.—The variety of copper ore, allied with silver, to which you allude, both metals being associated with selenium, is denominated Euhairite; this term was employed in allusion to its discovery almost simultaneously witli the eonclusion of Berzelius’ examination of selenium. The term is derived from a Greek word signifying opportune. Sueurer, “Gold Hill.—Proof-lead of the greatest purity may be obtained by the following method: Dissolve sugar (acetate) of lead, iu a small quantity of hot water; filter, and then add plates of zinc to the solution until the metallic lead is wholly deposited. Dry the resultiug lead between folds of blotting-papet, and preserve it ina well stoppered vial. General Condition of the Mining Interest. We have been much interested the past weck in looking over some portions of Mr. . Browne’s final report, on ‘the mineral resources of the Pacific Coast. From the data set forth in this document, it seems impossible to come to any other conclusion than that we are just entering upon the beginning of our grand success as a mining people. The following remarks of Mr. Browne arein accordance with the observations of nearly all who have taken a careful survey of our mineral prospects : After many years of travel over the mining regions, I feel justified in asserting that our mineral resources are practically without limit. Explorations by competent parties during the past year, in many parts of the mineral regions hitherto unknown, demonstrate the fact that the area of the) mineral deposit is much larger than was ever before supposed. It is safe to assume that of the claims already recorded in the scttled parts of the country, and known to be valuable, not more than ono in a hundred is being worked ; and that of those worked, perhaps not more than one in fifty pays anything over expcuses, owing to mismanagement, inefficient system of reducing ores, wantof capital, cost of transportation, and other causes susceptible of remedy. In many districts of Nevada, silver ores of less value than $100 per ton cannot now be worked by mill process so as to pay expenses ; and there are districts iu Idaho and Montana where gold bearing ores will not justify working unless they yield from $20 to $50 per ton. With such wealth of treasure lying dormant, it cannot be doubted that, by the increased facilities for trausportation and access to the mines soon to be furuished hy the Pacific Railroad and its proposed branches, aud the experience iu the treatment of ores, and the scientific knowledge to be acquired in a’ National School of Mines, adequate to the necessities of the mining population, the yield must eventually greatly increase. So far as California is concerned, Mr. Browne admits that the gold yield is decreasing ; but that decrease is due to the gradual exhaustion of the more easily accessible placer mines. This is a result which might reasonably have been expected. Placer mines, from their very nature, must be limited in their extent. Still it will be many years ere the present yield from that class of mines falls below the preseut average, as tbe most of the gold now obtained therefrom, is from the deep mines or hydraulic diggings, which are immense in extent and whose exhaustiou must be the labor of more than onc generation. Our chief reliance is upon vein mining, the extent of which is practically illimitable. This description of mining was never so prosperotis or so well understood as now ; aud it is, moreover, constantly improving, with the fairest prospect of continued increase for generations to come. True there have been many losses inthis branch of mining industry, for it isa business offering unusual chances for folly and ignorance in its prosecution. Such results may in a great measure be ascribed to the reckless and adventurous spirit so characteristic of Americans, who take the lead in the developmeut of the mines, and who, tbough energetic and generally intelligent, lack experience in this particular branch of iudustry, and are, moreover, prone to extravagance and reckless speculation. Mr. Browne lays great stress upon these **blunders,” as he calls them, and remarks that though they are being gradually cortected, yet they are still sufficiently common in California to detract nearly or quite onehalf from what should be the yiold of our mines, uuder a proper management. In describing theso mistakes he says: “The sreatest common blunder in quartz mining, and the most common error in early times, as well asin our own days, has been that of erecting a mill before tho yein was well opened, and its capacity to yield a large supply of good rock established. The commission of this bluader is conclusive proof of the utter iucompetency of its author to have charge of any important miniug enterprise. If there were any possibility that it should in some cases lead to considerable profit, there migbt be au cxcuse for it; but there is none—it ucver pays. All the chanees, includiug that of utter failure, are against it.” This is the abyss into which many a once hopeful company has been plunged, not only in California, but in Nevada, Colorado and other localities as well. Tbe next ‘‘ blunder” towhich Mr. Browne refers, is the lack of discrimination ‘‘ between a pocket vein and a charge vein. The existence of rich specimens was considered proof of the high value of a mine; whereas among experienced quartz miners, it excites their suspicions and distrust. Nine-tenths of the lodes which yield rich specimens do not pay for milling.” This latter is animportant fact which should be borne in mind by Eastern or outside purchasers or investers in mines, The next error alluded to is that, until receutly, nothing was known of ‘‘ pay chimneys;” if good quartz was found in one place in a mine, it was presumed that the whole mine was of like character. It often ocenrred that their pay chimney was uear the eud of one claim, from which it dipped into another, leaving the first almost barren of pay rock. In some cases the miner did not know enough of mining to follow a chimney when he had it in his own claim. A fourth error particularly referred to was that of sinking a shaft when there was no warantable indication at the surface—a policy which may do in mining for the baser metals, but which is exceedingly risky in searching for gold or silver. After alluding to a few other errors of minor importance, Mr. Browne appropriately eums up the wholo matter in a very few words as follows: ‘‘The business will never be established upon a proper basis until the superintendents, as a class, are well edneated chemists, mining and mechanical engineers, and mine owners frequent visitors, if not regular residents, at the mines.” a San Franersco Guass Works Burnep. We regret to state that the San Fraucisco Glass Works, at the foot of Third street, in this city, was greatly damaged by fire on Thursday morning last. The building and tools, and a large amount of manufactured stock, was destroyed. We are happy to learn, however, that the furnaces and melting pots, both those in use and those in process of seasoning, were comparatively uninjured. The loss is about $10,000, on which there was an insurance for $5,500. This was the most important glass manufactory ever put in operation on this coast —and the only one where white glass has ever been successfully made. The works have been operated by Mr. C. Newman, who has spent a large amount of time and mouey in bringing it into successful operation. We understand that the works will be rebuilt immediately. Rice Srecruens.—A fine lot of very rich specimens was recently received by Mr. J. W. Moyle, of this city, from the Orieutal G. &§. M. Co’s mine, (late the Union mine) located in Wet Ravine, Forest Township, Sierra County. A portion of these specimens were sold to be worked up into quartz jewelry; a large specimen may be seon in the show-window of William E. Goldsmith, 505 Montgomery street. Thirtythree pounds of the poorer portions of the specimens wero crushed, and yielded sixty ouuces of gold, assaying $1,053. Mr. J. W. Moyle, of this city, is President of the company, which has rocently been incorporated. i Mrssrs. Tatnot, Gawiry & Jonnson, auctioneers in this city, have received the appointmeut for selling the tide lands at auction, under the State anthorities. This is a new firm, who have thus received a high compliment and an important trust. The Mariposa Estate. We were somewhat in error, last week, in our statement in regard to the present proprietorship of the Mariposa Estate. Our cotemporary, who attempted to correct us, was also at fault, as will appear by comparing the remarks in the Alta of Monday last with the following, which we obtain from the final report of the Committee, appointed by all parties interested, to devise some . plan for funding the liabilities of the company, ete. ' In order to more fully understand the action of this committee, we will premise tbat on the 12th of November, 1858, a judgment was rendered against John C. Tremont, in favor of O’Campo, and a Sheriff’s deed in due time given to parties purchasing under said judgment, but who subsequently transferred said deed to C. K. Garrison. Subsequently Garrison brought suit of cjectment against the company, and a compromise was finally effected, by which the company agreed to pay $320,000 (gold) —$120,000 of which was paid down, and a deed was given by Garrison to the company, to be held as an escrow, to take effect on the 22d of June last, if the balance of $200,000, with interest, as specified in the contract given at same date, was paid. If said balance was not paid, the company was to forfeit the amount already advanced. One-eighth of this title had previously been deeded to Selover, and by him to the company—so that this eighth interest and the rigbt to redeem was all that the Mariposa company.owned in the Estate. Mr. J. W. Brumagin, of this city, subsequently became the purchaser of this Garrison title to seven-eighths of the property. The time for the settlement of this claim would have expired on the 22d of June, as stated in the Alta; but previous to that time, a committeo of bondholders, already referred to, having been appointed and authorized to confer with Mr. J. W. Brumagim or his agent in New York and with the officers of the Mariposa Company, with tbe view of devising somo plan for funding all the liabilities of the Estate aud raising means to secure to the company this outstanding seven-eighths interest, had attended to that duty and matured a plan, which was formally accepted by the parties interested on the 4th of June last. Under this plan of settlement, Mr. J. W. Brumagim’s interest has been vested in a board of three Trustees, who will issne certificates to represent the entire indebtedness of the company. This Board consists of Messrs. Mark Brumagim and John A, Stewart, of New York, and Mr. John J. McEwen, of this city. These gentlemen have already taken possession of the Iistate, and entered upon the discharge of their duties. In consummating this arrangement, the claim of Mr. John W. Brumagim has becn tixed at $300,000, the one-half of which is to be paid in cash from tho first proceeds of the sales of the certificates, and to bear ten per ceut. interest until paid. The other half is to be paid out of the first profits from the working of the miue, and is also to draw ten per cent. interest until paid. After this claim has been paid off, the further profits of the mine, over and above necessary improvements, are to bo applied to the payment of dividends on the certificates to be issued as above. Whenever the several claims against the company have © been paid off, and the debts of the Mariposa Company so reduced as not to exceed $100,000, the Trustees are required to reconvey the property to the company. But if the Estato should fail to pay either the elaim of Mr. Brumagim or the other indebtedness withiu the time specified in said decd of trust, provisions are made for a final closing out of the interest of tho Mariposa Company in the property—tho same to be sold forthe beuetfit of the creditors, who are to receivo the proceeds in the order or proportion of their several claims, Tho certificates, as above, will be issued

56 The Mining and Scientific Press. E BD alin Scientific Press. Mining way Scientific 2p W. B. EWER,. 0. cet eee teee cece ce tee ceeeee SeNion Epitor. @. W. NM. SMITIL W. B. WWER. AL, DRWEY. DEWity & CoO., Publishers. Orrrce—No.505 Clay street. corner of Sansome, 2d floor. Terms of Subscription: One copy, per annum, im aAdvance...sserererseenees! $5 00 One copy, six months, in Advance, ...-.-eeeeee seater 3 bar For sale by Carriers and Newsdealcrs.~e Writers should be cantious about addressing correspond encerelating to the business or Intcrests at 4 firm to an in dividual member thereof, whose abscnée at the time might caus delay. —— eo Canvassing Agents. Our Friexps can do much in ald of our paper and the cause of praetical knowledge and sctence, by assisting our Agents in their labors of canvassing, by lending their influence and encouraging favors. We shall send none but avorthy men. Knox, is onr city soliciting and coliccting gent and ali subsoriptions, or other tnvors extended tp: , willbe dulv acknowledged at this office. Jan. 11, 1866. ae . . Wates is our duly authorized traveling . duly 6, 1867. at a A. iy Butler is a dniy autharized traveling agent and correspondent for this paper. July 15, 1867. San Francisco: Saturday Morning, July 25, 1868 Notices to Correspondents. Atpna.—It is not uncommon when employing the word element in its popular acceptation, to use it in the same sense in whicb it was applied by the ancients, viz.: as denoting fire, air, earth and water. All these have been shown, during the last century, to be compounds; and the term is now only used, scientifically, to denote bodies which, up to the present period, have resisted all efforts made to decompose them. ‘The total number of what are now considered elements isabout sixty-five. The well-known metals are among tbe most numerous, to which have to be added the gases,—hydrogen, oxygen, chlorine and nitrogeu, carbon, silicon and boron, sulphur, phosphorus, ete.; the remainder, uot enumerated above, are relatively unimportant so far as quantity is concerned. ARcHmoLOGISt.—Chemistry cannot be asserted to have had an existeuce prior to the sixteenth century. We find in the writings of the earlier chemists, many curious and important facts and discoveries, which remained useless and unapplied, so long as men’s miuds were exclusively employed with the transmutation of metals, the composition of an universal elixir, aud the production of the Alcahest or general solvent. It is sometimes profitable and generally amusing to revert to these crude speculations and waking dreams of the writers on such subjects, who were eminent diwing the fourteenth and two successive centuries ; but the time of astudent will be more usefully occupied in garnering the labors of those who, discarding visionary hypotheses, proeeed to the investigation of truth by the steady light obtainable from the sun of philosophy. Lirxos.—Silica or silicie acid, may be obtained in a state of purity as follows: Heat to redness, in » platinum crucible, powdered rock crystal (quartz) with a quantity of carbonate of soda or potash; add to the solution a quantity of hydrochloric (muriatic) acid, and evaporate to dryness; afine gritty powder will remain, which on being well washed with water, and subsequently ignited, will leave a residue of pure silica. Prospector, Napa County.—Nickel and cobalt may be separated by adding cyauide of potassium to a solution of those metals; a precipitate of cyanide of nickel will thus be formed, which re-dissolves on adding an excess of the re-agent,—a double compound of cyanide of nickel and potassium being produced, which is soluble in water. The double cyanide is to be docomposed by dilute sulphuric acid, with precipitation of cyanide of nickel. L. §., Hunter’s Valley.—The variety of copper ore, allied with silver, to which you allude, both metals being associated with selenium, is denominated Euhairite; this term was employed in allusion to its discovery almost simultaneously witli the eonclusion of Berzelius’ examination of selenium. The term is derived from a Greek word signifying opportune. Sueurer, “Gold Hill.—Proof-lead of the greatest purity may be obtained by the following method: Dissolve sugar (acetate) of lead, iu a small quantity of hot water; filter, and then add plates of zinc to the solution until the metallic lead is wholly deposited. Dry the resultiug lead between folds of blotting-papet, and preserve it ina well stoppered vial. General Condition of the Mining Interest. We have been much interested the past weck in looking over some portions of Mr. . Browne’s final report, on ‘the mineral resources of the Pacific Coast. From the data set forth in this document, it seems impossible to come to any other conclusion than that we are just entering upon the beginning of our grand success as a mining people. The following remarks of Mr. Browne arein accordance with the observations of nearly all who have taken a careful survey of our mineral prospects : After many years of travel over the mining regions, I feel justified in asserting that our mineral resources are practically without limit. Explorations by competent parties during the past year, in many parts of the mineral regions hitherto unknown, demonstrate the fact that the area of the) mineral deposit is much larger than was ever before supposed. It is safe to assume that of the claims already recorded in the scttled parts of the country, and known to be valuable, not more than ono in a hundred is being worked ; and that of those worked, perhaps not more than one in fifty pays anything over expcuses, owing to mismanagement, inefficient system of reducing ores, wantof capital, cost of transportation, and other causes susceptible of remedy. In many districts of Nevada, silver ores of less value than $100 per ton cannot now be worked by mill process so as to pay expenses ; and there are districts iu Idaho and Montana where gold bearing ores will not justify working unless they yield from $20 to $50 per ton. With such wealth of treasure lying dormant, it cannot be doubted that, by the increased facilities for trausportation and access to the mines soon to be furuished hy the Pacific Railroad and its proposed branches, aud the experience iu the treatment of ores, and the scientific knowledge to be acquired in a’ National School of Mines, adequate to the necessities of the mining population, the yield must eventually greatly increase. So far as California is concerned, Mr. Browne admits that the gold yield is decreasing ; but that decrease is due to the gradual exhaustion of the more easily accessible placer mines. This is a result which might reasonably have been expected. Placer mines, from their very nature, must be limited in their extent. Still it will be many years ere the present yield from that class of mines falls below the preseut average, as tbe most of the gold now obtained therefrom, is from the deep mines or hydraulic diggings, which are immense in extent and whose exhaustiou must be the labor of more than onc generation. Our chief reliance is upon vein mining, the extent of which is practically illimitable. This description of mining was never so prosperotis or so well understood as now ; aud it is, moreover, constantly improving, with the fairest prospect of continued increase for generations to come. True there have been many losses inthis branch of mining industry, for it isa business offering unusual chances for folly and ignorance in its prosecution. Such results may in a great measure be ascribed to the reckless and adventurous spirit so characteristic of Americans, who take the lead in the developmeut of the mines, and who, tbough energetic and generally intelligent, lack experience in this particular branch of iudustry, and are, moreover, prone to extravagance and reckless speculation. Mr. Browne lays great stress upon these **blunders,” as he calls them, and remarks that though they are being gradually cortected, yet they are still sufficiently common in California to detract nearly or quite onehalf from what should be the yiold of our mines, uuder a proper management. In describing theso mistakes he says: “The

sreatest common blunder in quartz mining, and the most common error in early times, as well asin our own days, has been that of erecting a mill before tho yein was well opened, and its capacity to yield a large supply of good rock established. The commission of this bluader is conclusive proof of the utter iucompetency of its author to have charge of any important miniug enterprise. If there were any possibility that it should in some cases lead to considerable profit, there migbt be au cxcuse for it; but there is none—it ucver pays. All the chanees, includiug that of utter failure, are against it.” This is the abyss into which many a once hopeful company has been plunged, not only in California, but in Nevada, Colorado and other localities as well. Tbe next ‘‘ blunder” towhich Mr. Browne refers, is the lack of discrimination ‘‘ between a pocket vein and a charge vein. The existence of rich specimens was considered proof of the high value of a mine; whereas among experienced quartz miners, it excites their suspicions and distrust. Nine-tenths of the lodes which yield rich specimens do not pay for milling.” This latter is animportant fact which should be borne in mind by Eastern or outside purchasers or investers in mines, The next error alluded to is that, until receutly, nothing was known of ‘‘ pay chimneys;” if good quartz was found in one place in a mine, it was presumed that the whole mine was of like character. It often ocenrred that their pay chimney was uear the eud of one claim, from which it dipped into another, leaving the first almost barren of pay rock. In some cases the miner did not know enough of mining to follow a chimney when he had it in his own claim. A fourth error particularly referred to was that of sinking a shaft when there was no warantable indication at the surface—a policy which may do in mining for the baser metals, but which is exceedingly risky in searching for gold or silver. After alluding to a few other errors of minor importance, Mr. Browne appropriately eums up the wholo matter in a very few words as follows: ‘‘The business will never be established upon a proper basis until the superintendents, as a class, are well edneated chemists, mining and mechanical engineers, and mine owners frequent visitors, if not regular residents, at the mines.” a San Franersco Guass Works Burnep. We regret to state that the San Fraucisco Glass Works, at the foot of Third street, in this city, was greatly damaged by fire on Thursday morning last. The building and tools, and a large amount of manufactured stock, was destroyed. We are happy to learn, however, that the furnaces and melting pots, both those in use and those in process of seasoning, were comparatively uninjured. The loss is about $10,000, on which there was an insurance for $5,500. This was the most important glass manufactory ever put in operation on this coast —and the only one where white glass has ever been successfully made. The works have been operated by Mr. C. Newman, who has spent a large amount of time and mouey in bringing it into successful operation. We understand that the works will be rebuilt immediately. Rice Srecruens.—A fine lot of very rich specimens was recently received by Mr. J. W. Moyle, of this city, from the Orieutal G. &§. M. Co’s mine, (late the Union mine) located in Wet Ravine, Forest Township, Sierra County. A portion of these specimens were sold to be worked up into quartz jewelry; a large specimen may be seon in the show-window of William E. Goldsmith, 505 Montgomery street. Thirtythree pounds of the poorer portions of the specimens wero crushed, and yielded sixty ouuces of gold, assaying $1,053. Mr. J. W. Moyle, of this city, is President of the company, which has rocently been incorporated. i Mrssrs. Tatnot, Gawiry & Jonnson, auctioneers in this city, have received the appointmeut for selling the tide lands at auction, under the State anthorities. This is a new firm, who have thus received a high compliment and an important trust. The Mariposa Estate. We were somewhat in error, last week, in our statement in regard to the present proprietorship of the Mariposa Estate. Our cotemporary, who attempted to correct us, was also at fault, as will appear by comparing the remarks in the Alta of Monday last with the following, which we obtain from the final report of the Committee, appointed by all parties interested, to devise some . plan for funding the liabilities of the company, ete. ' In order to more fully understand the action of this committee, we will premise tbat on the 12th of November, 1858, a judgment was rendered against John C. Tremont, in favor of O’Campo, and a Sheriff’s deed in due time given to parties purchasing under said judgment, but who subsequently transferred said deed to C. K. Garrison. Subsequently Garrison brought suit of cjectment against the company, and a compromise was finally effected, by which the company agreed to pay $320,000 (gold) —$120,000 of which was paid down, and a deed was given by Garrison to the company, to be held as an escrow, to take effect on the 22d of June last, if the balance of $200,000, with interest, as specified in the contract given at same date, was paid. If said balance was not paid, the company was to forfeit the amount already advanced. One-eighth of this title had previously been deeded to Selover, and by him to the company—so that this eighth interest and the rigbt to redeem was all that the Mariposa company.owned in the Estate. Mr. J. W. Brumagin, of this city, subsequently became the purchaser of this Garrison title to seven-eighths of the property. The time for the settlement of this claim would have expired on the 22d of June, as stated in the Alta; but previous to that time, a committeo of bondholders, already referred to, having been appointed and authorized to confer with Mr. J. W. Brumagim or his agent in New York and with the officers of the Mariposa Company, with tbe view of devising somo plan for funding all the liabilities of the Estate aud raising means to secure to the company this outstanding seven-eighths interest, had attended to that duty and matured a plan, which was formally accepted by the parties interested on the 4th of June last. Under this plan of settlement, Mr. J. W. Brumagim’s interest has been vested in a board of three Trustees, who will issne certificates to represent the entire indebtedness of the company. This Board consists of Messrs. Mark Brumagim and John A, Stewart, of New York, and Mr. John J. McEwen, of this city. These gentlemen have already taken possession of the Iistate, and entered upon the discharge of their duties. In consummating this arrangement, the claim of Mr. John W. Brumagim has becn tixed at $300,000, the one-half of which is to be paid in cash from tho first proceeds of the sales of the certificates, and to bear ten per ceut. interest until paid. The other half is to be paid out of the first profits from the working of the miue, and is also to draw ten per cent. interest until paid. After this claim has been paid off, the further profits of the mine, over and above necessary improvements, are to bo applied to the payment of dividends on the certificates to be issued as above. Whenever the several claims against the company have © been paid off, and the debts of the Mariposa Company so reduced as not to exceed $100,000, the Trustees are required to reconvey the property to the company. But if the Estato should fail to pay either the elaim of Mr. Brumagim or the other indebtedness withiu the time specified in said decd of trust, provisions are made for a final closing out of the interest of tho Mariposa Company in the property—tho same to be sold forthe beuetfit of the creditors, who are to receivo the proceeds in the order or proportion of their several claims, Tho certificates, as above, will be issued