Volume 35 (1877) (426 pages)

162 MINING AND SCIENTIFIC PRESS. [September 15, 1877. Lead Ores. The Mining Situation in Utah, The Salt Lake Tribune publishes the followlowing results of interviews with several prominent citizens in that city on the subject of the general condition and future prospects of Utah: Josepb R. Walker, of the firm of Walker Bros., was the first gentleman whom we addressed, and from whom we elicited the following response to our questions: Oue thing is certain, that lead ores are being produced ata joss, on accouut of the great depreciation in the price of lead, caused by producing more than is consumed. This is uot influeuced by local causes alone, but is almost uuiversal. The great depression in husiness in the Hast has, in this connection, much to do with our lead productions here. This metal, which enters so largely into the production of paints, piping, etc., is now a drug on the market, as compared with former years; very little huilding is going on, and consequently the amount produced for this branch of industry is allowed to accumulate in the hauds of the producer and lead merchant. The uses to which this product may be diverted are limited, aud, consequently, as the amount is increased the value is depreciated. The remedy is plain and certain, so soon as a revival in husiness ensues. To coutinne to produce this article, which is so ahundaut in our Territory, there must, of eourse, he a reduction in the rates of transportation to distant markets. At the present high rates of freight it is inrpossible for mine-owners, owning lead-producing mines, to ship their ores to any market and make anything. He fears that the railroad officials will not discover this fact until it he too late; when the miners who are running on such close margins will he obliged to close up their properties. If once shut down, it would he very diticult to reopen and work them again without a considsiderable expenditure to replace the timher which will have rotted, and bring the machinery again into operation, He cousiders the business of tbe year 1877, so far, as not at all diseouraging, which he thinks will average a fair year’s business. The agricultural industry is decidedly encouraging. ‘Taking everything iuto consideratiou, Mr. Walker deems the outlook for business very fair, aud much more so when eoinpared with the status of trade in most places throughout the country. Jobn Tiernan, One of the first men who has manipulated mining property in this Territory, appeared to take a contented view of the situation. He is at present working several lead-producing mines in Bingham canyon, and, altbough his profits arising therefrom are not as large as be would desire, yet, under the prevalent condition of business of every kind all over the country, he thought we were rather fortunate out here. Of eourse, Mr. Tiernan is of the opinion that if a material reduction in the rates of transportation of our mineral productions could be brought about, it would cut the Gordian knot of dull times, and men who are working their properties at a loss and who will be obliged to discontinue shortly, would be willing to work them on the closest margins in the hope of eventually briuging ahout a better state of things. He said that the railroad corporations, by their exorbitant demand for transportation of ores and bullion, are injuring this all-important industry and enriehing themselves. On tbe question of miners’ wages, he thought that “the workman was worthy of his hire,” and that skilled miners were getting little enough for their work. There are many properties that could be worked successfully at the present status of wages, but the trouhle was with the commou earriers. For his own part, however, he saw very little eause for discouragment, and announced himself as quite well satisfied with the future of the Territory and her mineral resourees, We next called upon the manager of the Ontario silver mining company, Mr. B, C. Chambers, And found him busy at his office. After waitiug afew momeuts, we introduced the object of our visit, whereupon he gave us his views as follows:He stated that his duties were chiefly confined to the Ontario property in Park City, whieh was not a lead-producing mine, and consequently be had not felt the decline in that Frodngt In auy material degree. Still this fact id not prevent him from watching the course of events on the lead question, which he considered gloomy indeed. If things contiuue as during the summer, he feared that within the space of two months two-thirds of the leadproducing mines will have to’shut dowu. Mine owners have met him on the street daily aud told hin that unless a chauge for tbe hetter occurs within a very short time, they will be obliged to close np business. ‘Che Eastern lead market was gorged aud the production far in excess of thedemand. Although he hinself was paying competent miners good wages, yet be considered thata great saving could be made by a general reduction of wages and a more stringent, economical administration over the workings of these mincs. He belicved that a material reduction in the price of labor could be made witbout injury, and a corresponding benefit to the country would soon become manifest. Let the laborer as well as the mine owner economize, and the benefit would be mutual. In the East labor is abundant and the demand for it small, His “eompany was paying good wages to its workmen, for three reasous; first, it has the hest workmen; second, though the mine was healthy, it was wet and uncomfortable to work in; and third, it could afford it, while the low grade mines canuot. A strict economy was necessary to secure our mining industries froin destruction and place them upon a more satisfactory basis. Dr, A. K. Smith, Whose interests in mining properties are chiefly confined to the Leeds district, in soutbern Utah, said that the lead question did not affect mine owners in this vicinity, as that article does not constitute a part of the ores mined there. There isnot a mine developed to any extent but what pays. The policy is to pay workmen good wages on the theory that good work is deserving of good pay. So far as his ohservations-extend with reference to the leadproducing camps, he feared that a general cessation of work will shortly occur unless some remedy is discovered. Even those men who produce and smelt their own ores must stop for a time, uutil a better market is afforded for tbe lead product aud a general reduction made in transportatiou. He believed that Dry canyon was the only camp that could afford to coutinue to work under the preseut circumstances, on account of the high grade of its ores. The loss on the shipment of hase bullion to Eastern markets is too great to continue, and even that of refined bulliou, on account of exchange and percentage, is made ata loss of 13 per cent. The doctor, however, was hopeful of hetter times. We concluded our rounds with a visit to Mr. Richard Mackintosh, Who eonsidered it would be a good thing for the country if the mines would shut down, for the Eastern market was already overstocked witb lead, and it has continued in this state for the past two fyears. He believed the intrinsic value of miniug properties was great as ever, and that they would cventually prove treasures to their owners, but at present the great object was to work off and utilize the surplus product, and then the country would be in a better condition to make use of further supplies. Did not think that the rate of wagis paid to our miners was too little or too great, but wasamply sufficient to provide for their own and their family’s wants with a good degree of comfort. He certainly would uot close down any of his mines, although at present he was working them without niuch profit. He was satisfied with the future outlook, There were several other leading mining men that our reporter called upon several times during the day, but was unable to find them. If some means could be devised ainong the owners of the mines producing a low grade of ores, and who could work on elose margins, to form some combination among themselves for the shipmeut of their ores and hullion, the railroads would soou be brought to terms. At present it seems hopeless to expect anything of a concessive character on the part of the railroad magnates, “Qutside” Mines in Nevada. The Virginia Hnferprise says: The stocks o the prominent mines of eastern Nevada are strong, nowadays, and seem to be favorites in the market. We look upon this asa healthy sign. Since the bonanza was struck it has heen the hardest thing in the world to get men of capital to consider the great elaims which eastern Nevada has for consideration. If a mine less than 60 feet wide was mentioued they would turn up their noses and look, if they did not say, “What's the use of bothering ahout a little thing like that!” The result has been hard on eastern Nevada, and very many of the men who, with a few thousand dollars, have confined themselves to Comstock stock speculations have lost their all, when, had they invested their money on some of the reasonable showings whieh have from time to time heen made upon outside mines, they might have been happy now. By this we do not mean to east discredit onthe Comstock. “It seems to us that about the cheapest mining stock stocks in the world today are those of the bonanza mines. But we would be glad if we eould say something which would cause mining meu to be fair to all mines. There are not many bonanzas in the world, but there are a great many small mines which, with prudent management, will yield as much money as any half dozen men ought to have. This State is full of such properties. In almost every district there are such mines. Bodie is a sample. It was worked years ago, imperfectly, and fell into disrepute. Last year a gentleman was in this eity witb a map of tbe district; he explained what had been done, and why the former trials were failures; and tried, in vain, to find some one with a little capital to investigate the matter, see if he was right, and, if so, to help put the distriet on its feet by the expeuditure of a little money. Forsuch expenditure he offered the lion’s share of his interests. He could not get an encouraging word, much less any help. But this year two or three resolute men undertook to give Bodie a trial, and now Bobie looms up the coming camp; and, before this day a year, men here will pay for a few hundred shares of Bodie stock more than a whole mine would bave cost them last summer. Tuscarora is another camp whicb, as a rule, mining men have ignored. When Grand Prize had one mill running and a second and larger mill nearly completed, with abundance of ore for both already developed, men here could not be persuaded to buy the stock at $3 and 85. Last evening ittouched $19, with an upward tendency. Another claim there which three months ago was for sale at $15,000, is uow selling at the rate of seven times that sum, and tbe stock is a first-rate huy, if the words of honest men and good miners can be relied upon. Three or four months ago Dr. Webber and two or three other gentlemen quietly hought a mine in Esmeralda county, aud, building a five-stamp mill, have gone to work to make out of the ground a fortune. The promise now is that within a year they will get for their investment $20 for one. Ike Bateman and his partners owned the Northern Belle for several years before any extensive work was done upon it. They tried to sell it for $35,000. At last Mr. Bateman incorporated it, and sought to sell stock enough to build a mill. He tried for weeks in vain, until W. C. Ralston at last took it, more as an accommodation to Bateman than with a hope of gain. Since then the mine has uot missed a dividend of $50,000 per month for 26 months, amounting to $1,300,000, with a prospect of continuing the same yield indefinitely. These examples show what can be done. White Pine, Elko, Nye and Humboldt counties are full of undeveloped mines. We believe the Pyramid district, in Washoe county, only awaits the application of a little pluck andmoney tomakeit a place where thousands of miners will find profitable employment. Some time, in this or thenext generation, people will hegin to realize something oi the magnitude of the mining resources of Nevada, The Mining Situation in Arizona, A correspondent of the Arizona Enterprise, writing from Alexandria, gives the following concerning the mining situation in Arizona: Since I wrote you last I have made an extended trip through the miues of this section, and am free to confess that in no country have I seen such, flattering prospeets. The mines here, generally, are undeveloped, the deepest shaft in the district being only 300 feet, but so far as they are sunk upon they show finely. The owners are mostly poor men, who lack the imeans to open their claims, the want of reduction works being the great drawback to the miuing interests of the country. Ore that will not go $500 per ton will not pay to ship to San Fraucisco; aud when freight, wharfage, storage and many other exactions which the owner has to submit to from the ring who control the purchase of ores, is added, but a very light margin is left for the hard-working miner. It would naturally be expected that those men who have made money here, and whose every interest is linked with the destiny of the Territory, would leud a helping hand to the struggling miner in his efforts to develop the only real wealth of the country; the reverse is the case, however. To this there are one or two honorahle exceptions. Coming here in early days, nearly all of them peuniless, by taking advantage of exorbitant prices, and some of them of the follies and vices of their fellowmen, these enterprising (?) and thrifty citizens have gathered ina considerahle quantity of the filthy lucre. The Government patronage in the shape of coutracts, etc., was another rich lead which these patriotic and ‘‘truly loil” souls were not slow to take advantage of, and which they worked for all it was worth. The men of broken fortunes, and those who never had any to break, who, under the assumed title of mining capitalists, have inflicted their presence on this community, have been auother ohstacle in the path of Arizona’s advancement. Possessing neither cash nor credit, not overburthened with either honesty or honor, these specious geutry came here possessed with the idea that the owners of niines are ready to give away tbe fruits of years of danger and toil to the first smooth-tongned fraud who may ask for them. Several mines have been honded by these worthies, who, ‘‘by ways that are dark and tricks that are vain,” have tried hard to follow honest Iago’s advice to simple Roderigo, sometimes at the expense of the owners; but thus far, though they have visited, examined and tested many mines in this part of Arizona, and made a devil of a pother generally, their immediate capital remains securely locked up in the vaults of California street, and they have yet to invest the first dollar in the mines of Yavapai eounty. Tt is a fact that cannot be gainsayed, tbat niining at tbe best is somewhat risky—from its nature it eannot be otherwise. Mining sharps on this coast, however, are not disposed to take any risks. Ifa miner has a piece of property which is opened and shows beyond the possibility of doubt that there is $50,000 in sight, then your California speculator (?), in the largeness of his heart, might be tempted to offer $25,000 for it. This plan, it must be admitted, is a safe and sure one for the man of means, but it is hardly doing justice to the poor miner or prospector. J hardly think that many sales will be made on this basis. The developments thus far;made here have heen accomplished by the persistent energy of the citizens of the Territory, and in this connection may be mentioned the Peck mining eompany, who, starting without means, have opened one of the finest mines on the coast, They are now busily at work preparing for the erection of a 10-stamp mill, which will open a new era of prosperity for tbe mines in this vicinity. The town where I write from is the outgrowth of this mine, and already contains several stores, restaurants, boarding-house, etc., not forgetting numerous saloons. Arizonans, as far as my experience goes, are thirsty souls, which is owing, I suppose, to the dryness of the climate. All round ahont this regiou the sound of the frepeats her flattering tale. prospector’s pick echoes from mountain and eanyon, and this part of Arizona is being thoroughly explored. I have met here men who have prospected the coast from Cariboo to Chili. ‘‘The slings and arrows of outrageous fortune” have left their marks ou many of them, and not a few are on the shady side of life, but they are still as light-hearted and huoyant as when they first began. Hope still pe Their sanguine spirits are proof against every disaster and disappointment, and when well primed with a generous quantity of the fiery fiuid (here, by courtesy, ealled whisky), fortune smiles upon them; the rainbow hues of hope are brilliant with golden gleams, and they are still sanguiue of ‘‘striking it.” In nearly every instance, however, the original discoverer reaps but slight benefit from his find. Marshall, who found the first gold in California, a discovery which has in a manner revolutionized the globe, has had to earn a precarious existence by repeating the tale of the wonderful find throughout the cities of the Union; and the parsimony of a California Legislature refused him even a pittance in his old age. Comstock, the finder of the famous ledge that bears his name, which has added over $300,000,000 to the solid weaith of the world, ended bis days in privation and poverty, and not eveu a simple head-hoard marks the last resting place of the greatest of prospectors. As I mentioned in my last, there is here a fine opening for nien of means desirous of investing in mines. Ready cash, which most of the operators from tbe West are without, will accomplish much. Many very fiue properties can be had at low figures; aud, from the temper of the people, I am satisfied that the introduction of Eastern capital will be cordially welcomed, and every inducement offered for its successful investment. California operators geuerally haudle mines for speculative purposes. This fact is well understood here, and the people are desirous of seeing the mining interests of the couutry in the hauds of bona fide workers, I repeat the time is ripe. The people are tired of the oppressions of the railroad monopoly and the exactious of the San Francisco ring, and will gladly welcome relief from any quarter. Ouce secure the miniug interests, and the trade of the country will follow. It is a prize worth striking for. The Eastern people commaud the situation; it remains to be seeu whether they will take advantage of it. In regard to your inquiries as to the agricultural resources of this country, I will say that the lack of water will prevent Arizona froin becoming much of a farming country. There are some good valleys in the southern part of the Territory, where fair crops are raised by irrigation; hut the uncertaiuty of rains makes the calling of the Granger in this section a hard road to travel indeed. The future of Arizona depends on her mining interests. This is the corner-stone of her power aud prosperity; everything else is secondary. Ward's Leading Mine. The Ward Reflex says: There has been so much sameuess about the work going on in the Paymaster, of late, that we have not thought it worth noticing. The work of taking out ore in the clay chamber has heen suspended for the present, the ground being so soft that it was deemed acdvisahle to timher it up seeurely hefore taking out any more ore. Sufficient ore is now coming out of the mine to keep six waterjacket furnaces running; but, unfortunately,the company has but two, and, we suppose, at two it will remain until sometime next summer, The company, it \would seem, much prefer to pay the debt now hanging over it by levying assessments than to take it out of the mine. It suits the stockholders better, and, then again, some time between now and the close of the nineteenth century, they may hegin to think of dividends. All that is necessary is to patiently wait. There is enough ore in sight to pay all debts five times over, but then it would be a pity to reduce it. Furnaees would be required and, possibly, mills. If the mill was started up, several thousand dollars would have to be invested in paus, aud, possibly, it would take a week to get even on that outlay after it was started up. It takes money to run a mine, and that is one of the worst features; yes, and a mining man thrown in. The owners of the Consolidated Virginia or California would feel comfortable if a like body of ore, of equal richness, was exposed to view in either of those mines, and every effort would be put forth to take it out; but here it would be an impossibility to arouse the management from an ordinary snooze. <A dividend of a million a month would be no inducement to wake up. Beyond question the Paymaster is the equal of any mine known or unknown, but sometime during the preseut year it is just possible to work out all above tbe second tunnel, which isall of 150 fcet below the surface; and what sane man would tbink of going deeper, unless it were by a tunnel that would intersect tbe vein fully 100 feet deeper, even though it were necessary to run it 2,000 feet in order to reach that stupendous depth—a thing the mind of man is hardly able to grasp. The Payinaster has no equal in the State, in richness, at least, and is but little, if any, inferior to tbe Comstock in width; is, in fact, a wonderful mine, but is the worst worked. mine the world ever saw. The manner in whichit oral is no less wonderful than the mine itself.

162 MINING AND SCIENTIFIC PRESS. [September 15, 1877. Lead Ores. The Mining Situation in Utah, The Salt Lake Tribune publishes the followlowing results of interviews with several prominent citizens in that city on the subject of the general condition and future prospects of Utah: Josepb R. Walker, of the firm of Walker Bros., was the first gentleman whom we addressed, and from whom we elicited the following response to our questions: Oue thing is certain, that lead ores are being produced ata joss, on accouut of the great depreciation in the price of lead, caused by producing more than is consumed. This is uot influeuced by local causes alone, but is almost uuiversal. The great depression in husiness in the Hast has, in this connection, much to do with our lead productions here. This metal, which enters so largely into the production of paints, piping, etc., is now a drug on the market, as compared with former years; very little huilding is going on, and consequently the amount produced for this branch of industry is allowed to accumulate in the hauds of the producer and lead merchant. The uses to which this product may be diverted are limited, aud, consequently, as the amount is increased the value is depreciated. The remedy is plain and certain, so soon as a revival in husiness ensues. To coutinne to produce this article, which is so ahundaut in our Territory, there must, of eourse, he a reduction in the rates of transportation to distant markets. At the present high rates of freight it is inrpossible for mine-owners, owning lead-producing mines, to ship their ores to any market and make anything. He fears that the railroad officials will not discover this fact until it he too late; when the miners who are running on such close margins will he obliged to close up their properties. If once shut down, it would he very diticult to reopen and work them again without a considsiderable expenditure to replace the timher which will have rotted, and bring the machinery again into operation, He cousiders the business of tbe year 1877, so far, as not at all diseouraging, which he thinks will average a fair year’s business. The agricultural industry is decidedly encouraging. ‘Taking everything iuto consideratiou, Mr. Walker deems the outlook for business very fair, aud much more so when eoinpared with the status of trade in most places throughout the country. Jobn Tiernan, One of the first men who has manipulated mining property in this Territory, appeared to take a contented view of the situation. He is at present working several lead-producing mines in Bingham canyon, and, altbough his profits arising therefrom are not as large as be would desire, yet, under the prevalent condition of business of every kind all over the country, he thought we were rather fortunate out here. Of eourse, Mr. Tiernan is of the opinion that if a material reduction in the rates of transportation of our mineral productions could be brought about, it would cut the Gordian knot of dull times, and men who are working their properties at a loss and who will be obliged to discontinue shortly, would be willing to work them on the closest margins in the hope of eventually briuging ahout a better state of things. He said that the railroad corporations, by their exorbitant demand for transportation of ores and bullion, are injuring this all-important industry and enriehing themselves. On tbe question of miners’ wages, he thought that “the workman was worthy of his hire,” and that skilled miners were getting little enough for their work. There are many properties that could be worked successfully at the present status of wages, but the trouhle was with the commou earriers. For his own part, however, he saw very little eause for discouragment, and announced himself as quite well satisfied with the future of the Territory and her mineral resourees, We next called upon the manager of the Ontario silver mining company, Mr. B, C. Chambers, And found him busy at his office. After waitiug afew momeuts, we introduced the object of our visit, whereupon he gave us his views as follows:He stated that his duties were chiefly confined to the Ontario property in Park City, whieh was not a lead-producing mine, and consequently be had not felt the decline in that Frodngt In auy material degree. Still this fact id not prevent him from watching the course of events on the lead question, which he considered gloomy indeed. If things contiuue as during the summer, he feared that within the space of two months two-thirds of the leadproducing mines will have to’shut dowu. Mine owners have met him on the street daily aud told hin that unless a chauge for tbe hetter occurs within a very short time, they will be obliged to close np business. ‘Che Eastern lead market was gorged aud the production far in excess of thedemand. Although he hinself was paying competent miners good wages, yet be considered thata great saving could be made by a general reduction of wages and a more stringent, economical administration over the workings of these mincs. He belicved that a material reduction in the price of labor could be made witbout injury, and a corresponding benefit to the country would soon become manifest. Let the laborer as well as the mine owner economize, and the benefit would be mutual. In the East labor is abundant and the demand for it small, His “eompany was paying good wages to its workmen, for three reasous; first, it has the hest workmen; second, though the mine was healthy, it was wet and uncomfortable to work in; and third, it could afford it, while the low grade mines canuot. A strict economy was necessary to secure our mining industries froin destruction and place them upon a more satisfactory basis. Dr, A. K. Smith, Whose interests in mining properties are chiefly confined to the Leeds district, in soutbern Utah, said that the lead question did not affect mine owners in this vicinity, as that article does not constitute a part of the ores mined there. There isnot a mine developed to any extent but what pays. The policy is to pay workmen good wages on the theory that good work is deserving of good pay. So far as his ohservations-extend with reference to the leadproducing camps, he feared that a general cessation of work will shortly occur unless some remedy is discovered. Even those men who produce and smelt their own ores must stop for a time, uutil a better market is afforded for tbe lead product aud a general reduction made in transportatiou. He believed that Dry canyon was the only camp that could afford to coutinue to work under the preseut circumstances, on account of the high grade of its ores. The loss on the shipment of hase bullion to Eastern markets is too great to continue, and even that of refined bulliou, on account of exchange and percentage, is made ata loss of 13 per cent. The doctor, however, was hopeful of hetter times. We concluded our rounds with a visit to Mr. Richard Mackintosh, Who eonsidered it would be a good thing for the country if the mines would shut down, for the Eastern market was already overstocked witb lead, and it has continued in this state for the past two fyears. He believed the intrinsic value of miniug properties was great as ever, and that they would cventually prove treasures to their owners, but at present the great object was to work off and utilize the surplus product, and then the country would be in a better condition to make use of further supplies. Did not think that the rate of wagis paid to our miners was too little or too great, but wasamply sufficient to provide for their own and their family’s wants with a good degree of comfort. He certainly would uot close down any of his mines, although at present he was working them without niuch profit. He was satisfied with the future outlook, There were several other leading mining men that our reporter called upon several times during the day, but was unable to find them. If some means could be devised ainong the owners of the mines producing a low grade of ores, and who could work on elose margins, to form some combination among themselves for the shipmeut of their ores and hullion, the railroads would soou be brought to terms. At present it seems hopeless to expect anything of a concessive character on the part of the railroad magnates, “Qutside” Mines in Nevada. The Virginia Hnferprise says: The stocks o the prominent mines of eastern Nevada are strong, nowadays, and seem to be favorites in the market. We look upon this asa healthy sign. Since the bonanza was struck it has heen the hardest thing in the world to get men of capital to consider the great elaims which eastern Nevada has for consideration. If a mine less than 60 feet wide was mentioued they would turn up their noses and look, if they did not say, “What's the use of bothering ahout a little thing like that!” The result has been hard on eastern Nevada, and very many of the men who, with a few thousand dollars, have confined themselves to Comstock stock speculations have lost their all, when, had they invested their money on some of the reasonable showings whieh have from time to time heen made upon outside mines, they might have been happy now. By this we do not mean to east discredit onthe Comstock. “It seems to us that about the cheapest mining stock stocks in the world today are those of the bonanza mines. But we would be glad if we eould say something which would cause mining meu to be fair to all mines. There are not many bonanzas in the world, but there are a great many small mines which, with prudent management, will yield as much money as any half dozen men ought to have. This State is full of such properties. In almost every district there are such mines. Bodie is a sample. It was worked years ago, imperfectly, and fell into disrepute. Last year a gentleman was in this eity witb a map of tbe district; he explained what had been done, and why the former trials were failures; and tried, in vain, to find some one with a little capital to investigate the matter, see if he was right, and, if so, to help put the distriet on its feet by the expeuditure of a little money. Forsuch expenditure he offered the lion’s share of his interests. He could not get an encouraging word, much less any help. But this year two or three resolute men undertook to give Bodie a trial, and now Bobie looms up the coming camp; and, before this day a year, men here will pay for a few hundred shares of Bodie stock more than a whole mine would bave cost them last summer. Tuscarora is another camp whicb, as a rule, mining men have ignored. When Grand Prize had one mill running and a second and larger mill nearly completed, with abundance of ore for both already developed, men here could not be persuaded to buy the stock at $3 and 85. Last evening ittouched $19, with an upward tendency. Another claim there which three months ago was for sale at $15,000, is uow selling at the rate of seven times that sum, and tbe stock is a first-rate huy, if the words of honest men and good miners can be relied upon. Three or four months ago Dr. Webber and two or three other gentlemen quietly hought a mine in Esmeralda county, aud, building a five-stamp

mill, have gone to work to make out of the ground a fortune. The promise now is that within a year they will get for their investment $20 for one. Ike Bateman and his partners owned the Northern Belle for several years before any extensive work was done upon it. They tried to sell it for $35,000. At last Mr. Bateman incorporated it, and sought to sell stock enough to build a mill. He tried for weeks in vain, until W. C. Ralston at last took it, more as an accommodation to Bateman than with a hope of gain. Since then the mine has uot missed a dividend of $50,000 per month for 26 months, amounting to $1,300,000, with a prospect of continuing the same yield indefinitely. These examples show what can be done. White Pine, Elko, Nye and Humboldt counties are full of undeveloped mines. We believe the Pyramid district, in Washoe county, only awaits the application of a little pluck andmoney tomakeit a place where thousands of miners will find profitable employment. Some time, in this or thenext generation, people will hegin to realize something oi the magnitude of the mining resources of Nevada, The Mining Situation in Arizona, A correspondent of the Arizona Enterprise, writing from Alexandria, gives the following concerning the mining situation in Arizona: Since I wrote you last I have made an extended trip through the miues of this section, and am free to confess that in no country have I seen such, flattering prospeets. The mines here, generally, are undeveloped, the deepest shaft in the district being only 300 feet, but so far as they are sunk upon they show finely. The owners are mostly poor men, who lack the imeans to open their claims, the want of reduction works being the great drawback to the miuing interests of the country. Ore that will not go $500 per ton will not pay to ship to San Fraucisco; aud when freight, wharfage, storage and many other exactions which the owner has to submit to from the ring who control the purchase of ores, is added, but a very light margin is left for the hard-working miner. It would naturally be expected that those men who have made money here, and whose every interest is linked with the destiny of the Territory, would leud a helping hand to the struggling miner in his efforts to develop the only real wealth of the country; the reverse is the case, however. To this there are one or two honorahle exceptions. Coming here in early days, nearly all of them peuniless, by taking advantage of exorbitant prices, and some of them of the follies and vices of their fellowmen, these enterprising (?) and thrifty citizens have gathered ina considerahle quantity of the filthy lucre. The Government patronage in the shape of coutracts, etc., was another rich lead which these patriotic and ‘‘truly loil” souls were not slow to take advantage of, and which they worked for all it was worth. The men of broken fortunes, and those who never had any to break, who, under the assumed title of mining capitalists, have inflicted their presence on this community, have been auother ohstacle in the path of Arizona’s advancement. Possessing neither cash nor credit, not overburthened with either honesty or honor, these specious geutry came here possessed with the idea that the owners of niines are ready to give away tbe fruits of years of danger and toil to the first smooth-tongned fraud who may ask for them. Several mines have been honded by these worthies, who, ‘‘by ways that are dark and tricks that are vain,” have tried hard to follow honest Iago’s advice to simple Roderigo, sometimes at the expense of the owners; but thus far, though they have visited, examined and tested many mines in this part of Arizona, and made a devil of a pother generally, their immediate capital remains securely locked up in the vaults of California street, and they have yet to invest the first dollar in the mines of Yavapai eounty. Tt is a fact that cannot be gainsayed, tbat niining at tbe best is somewhat risky—from its nature it eannot be otherwise. Mining sharps on this coast, however, are not disposed to take any risks. Ifa miner has a piece of property which is opened and shows beyond the possibility of doubt that there is $50,000 in sight, then your California speculator (?), in the largeness of his heart, might be tempted to offer $25,000 for it. This plan, it must be admitted, is a safe and sure one for the man of means, but it is hardly doing justice to the poor miner or prospector. J hardly think that many sales will be made on this basis. The developments thus far;made here have heen accomplished by the persistent energy of the citizens of the Territory, and in this connection may be mentioned the Peck mining eompany, who, starting without means, have opened one of the finest mines on the coast, They are now busily at work preparing for the erection of a 10-stamp mill, which will open a new era of prosperity for tbe mines in this vicinity. The town where I write from is the outgrowth of this mine, and already contains several stores, restaurants, boarding-house, etc., not forgetting numerous saloons. Arizonans, as far as my experience goes, are thirsty souls, which is owing, I suppose, to the dryness of the climate. All round ahont this regiou the sound of the frepeats her flattering tale. prospector’s pick echoes from mountain and eanyon, and this part of Arizona is being thoroughly explored. I have met here men who have prospected the coast from Cariboo to Chili. ‘‘The slings and arrows of outrageous fortune” have left their marks ou many of them, and not a few are on the shady side of life, but they are still as light-hearted and huoyant as when they first began. Hope still pe Their sanguine spirits are proof against every disaster and disappointment, and when well primed with a generous quantity of the fiery fiuid (here, by courtesy, ealled whisky), fortune smiles upon them; the rainbow hues of hope are brilliant with golden gleams, and they are still sanguiue of ‘‘striking it.” In nearly every instance, however, the original discoverer reaps but slight benefit from his find. Marshall, who found the first gold in California, a discovery which has in a manner revolutionized the globe, has had to earn a precarious existence by repeating the tale of the wonderful find throughout the cities of the Union; and the parsimony of a California Legislature refused him even a pittance in his old age. Comstock, the finder of the famous ledge that bears his name, which has added over $300,000,000 to the solid weaith of the world, ended bis days in privation and poverty, and not eveu a simple head-hoard marks the last resting place of the greatest of prospectors. As I mentioned in my last, there is here a fine opening for nien of means desirous of investing in mines. Ready cash, which most of the operators from tbe West are without, will accomplish much. Many very fiue properties can be had at low figures; aud, from the temper of the people, I am satisfied that the introduction of Eastern capital will be cordially welcomed, and every inducement offered for its successful investment. California operators geuerally haudle mines for speculative purposes. This fact is well understood here, and the people are desirous of seeing the mining interests of the couutry in the hauds of bona fide workers, I repeat the time is ripe. The people are tired of the oppressions of the railroad monopoly and the exactious of the San Francisco ring, and will gladly welcome relief from any quarter. Ouce secure the miniug interests, and the trade of the country will follow. It is a prize worth striking for. The Eastern people commaud the situation; it remains to be seeu whether they will take advantage of it. In regard to your inquiries as to the agricultural resources of this country, I will say that the lack of water will prevent Arizona froin becoming much of a farming country. There are some good valleys in the southern part of the Territory, where fair crops are raised by irrigation; hut the uncertaiuty of rains makes the calling of the Granger in this section a hard road to travel indeed. The future of Arizona depends on her mining interests. This is the corner-stone of her power aud prosperity; everything else is secondary. Ward's Leading Mine. The Ward Reflex says: There has been so much sameuess about the work going on in the Paymaster, of late, that we have not thought it worth noticing. The work of taking out ore in the clay chamber has heen suspended for the present, the ground being so soft that it was deemed acdvisahle to timher it up seeurely hefore taking out any more ore. Sufficient ore is now coming out of the mine to keep six waterjacket furnaces running; but, unfortunately,the company has but two, and, we suppose, at two it will remain until sometime next summer, The company, it \would seem, much prefer to pay the debt now hanging over it by levying assessments than to take it out of the mine. It suits the stockholders better, and, then again, some time between now and the close of the nineteenth century, they may hegin to think of dividends. All that is necessary is to patiently wait. There is enough ore in sight to pay all debts five times over, but then it would be a pity to reduce it. Furnaees would be required and, possibly, mills. If the mill was started up, several thousand dollars would have to be invested in paus, aud, possibly, it would take a week to get even on that outlay after it was started up. It takes money to run a mine, and that is one of the worst features; yes, and a mining man thrown in. The owners of the Consolidated Virginia or California would feel comfortable if a like body of ore, of equal richness, was exposed to view in either of those mines, and every effort would be put forth to take it out; but here it would be an impossibility to arouse the management from an ordinary snooze. <A dividend of a million a month would be no inducement to wake up. Beyond question the Paymaster is the equal of any mine known or unknown, but sometime during the preseut year it is just possible to work out all above tbe second tunnel, which isall of 150 fcet below the surface; and what sane man would tbink of going deeper, unless it were by a tunnel that would intersect tbe vein fully 100 feet deeper, even though it were necessary to run it 2,000 feet in order to reach that stupendous depth—a thing the mind of man is hardly able to grasp. The Payinaster has no equal in the State, in richness, at least, and is but little, if any, inferior to tbe Comstock in width; is, in fact, a wonderful mine, but is the worst worked. mine the world ever saw. The manner in whichit oral is no less wonderful than the mine itself.