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Collection: Newspapers > Nevada City Nugget

September 8, 1930 (4 pages)

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Pee Se ere Oe ce en ee ener vA mary ee ~ ‘lic ore from the place where nature ‘investments _kets to exist. There are touts, press The Nugget is California’s Leading Mining Weekly VOLUME IV, NUMBER 39 THE GOLD CENTER NEVADA CITY,.NEVADA COUNTY. CALIFORNIA, THE COUNTY SEAT PAPER SEPTEMBER 8, FINANCING MINING AS AN INDUSTRY AND A GAMBLE ByLetson Balliet, Mining Engineer Leaving out of consideration the owners and operators of mines that have been financed and are now self sustaining and productive, there is no problem more vital to mining, and to claim owners, stock buyers, dealers in mine supplies and machinery than that of developing veins and ore bodies into new mines. “Mining,” is the participle form of the verb “to mine’, therefore it consists of moving a body f metalput it, to a place where mankind can use it. That is an engineering job, not greatly different from diggin a subway, or a railroad tunnel. The moving job, might be looked upon as a contract, and should be figured at a cost per ton for the moving. Prequalifications and equipment are important factors in the cost of the operations. But developing a prospect, to make it ready for the ore moving, costs lots of money, even after the place has been found where old Mother Nature has deposied a body of commercial ore. Exploring to ascertain how big it is, and its average value per ton costs plenty of money, before the developing begins. Where is the exploration money to come from? How can it be secured or raised? These are questions that must, be answered in the case of every new mine that is brought into production. There are but two sources of money available. The owner of the mining ground must! turn it over to, er-secure the backing of capital, or he must appeal to the public to aggregate their small into a large sum for working capital. American industry has_ passed quite extensively from capitalistic ownership to public ownership, through the medium of the joint stock company. The major oil companies, the railroads, telephones, telegraph and power companies have through the sale of stocks to employees, and to the public as well as to their own patrons, distributed their owenrship among hundreds of thousands of stockholders. In giant industries the required capital is too large for even capitalists to handle without calling on the public and sharing the profits with them. ' Abuse of Promotion Privileges Of course, with the door wide open —permitting any one to ‘‘get up a company” for gathering public money—vwe can expect to have ambitious immitators, incompetent, illadvised, as well as willfully nefariuos cunterfeiters, rush into the business. Itis the abuse of the open door, and not the use of it that has put an atmosphere of doubt and suspicion on the work of the stock company promoter. The man with the legitimate project, (not alone’ in mining) must overcome the “‘salés resistance’”’ that abuses have created. You may call it prjudice, suspicion, doubt, lack of confidence, or whatever you like, but it is the abouse of stock selling privileges that has created an atmosphere of “sales resistance’’, The salesman, or promoter who can beget confidence and overcome it may be successful in his project but he has not cleared the atmosphere for others. Many warning have been given, to “‘investigate before investing’ and those who have been successful in their selections have heeded it, but there is one litt] quirk in human nature—to ‘‘take a chance’’—that has prevented the multitude from investigating. The same quirk of nature, makes it possible for lotteries, race track gambling, and—the stock maragents, boosters, cappers and floor men whispering advice and citing examples of big winnings, in all games of chance. They excite the cupidity and desire for ‘‘gambling profits’. Stocks are boosted up in price over a single night, without any change in production, contracts, plans, or a word of information coming from the scene of operations. Also they are caused to drop in price If the industry has no change why should the stock be worth more or less, in the morning than it was the night before? Gambling. Supply and demand. } (Continued on Page 3) MOTHER LODE MINE YIELDING CONCENTRATES RICH IN GOLD A gold mine on the east belt of the Mother Lode in Amador county is making successful runs in its pilot mill after testing and adjustments. Besides free gold recovered by amalgamation the mill is turning out two grades of encentrates. Mill heads vary from $33.90 per ton to $57.88. Running on the highest grade the first grade concentrate assayed $250.89 per ton; on ore assaying $33.90 the concentrate hada value of $77.72 besides two to three per cent copper. Thé mine has produced a considerable quantity of ore of shipping grade and is only opened to a depth of 100 feet. Manager C. R. Murdoch plans to deepen the shaft. Occurrence of ore at depth has been demon* strated in the nearby Defender mine, located on a parallel fissure. The stock is listed on the San Franeisco Mining Exchange and has been approved for trading by the corporation commissioner. RISING HOPE MINE YIELDS FINE RETURNS At Placerville the Aladdin Gold Mines Co. fis washing twenty-five to thirty yards of gravel daily from the Rising Hope property which yields $3 to $4 a yard while the Main tunnel isbeing driven ahead . to get under the bench on one side of the stream and facilitate extraction. Raises will be.put up from the tunnel and the gravel mined will be dropped through chutes and trammed outside to the washing plant. The tunnel through which the channel is reached has been put in good repair with.new ties laid and the gravel is hauled out by an electric locomotive. The main channel and along the bench of the old river. A short crosscut will be driven to a point directly beneath the river bed and raises will be run to bedrock. There are several thousand yards of the benches of the channel, opened in the old workings by raises from the tunnel. Two power drills are employed in advancing the tunne: and raises will be put up as the ground is opened. While the bench gravel is of high average grade, the gravel on bedrock is much richer. C. E. Collins, superintendent of operations, says that winzes were sunk from’ the upper tunnel when the mine was first worked on opposite banks of the river to the bottom. According to a miner who worked in the winzes they were in rich gravel all the way but water flowing on the bed of the stream prevented mining. The washing plant has a capacity of 450 yards a day and besides the gold recovered in the gravel catches a black sand containing fine gold to the extent of $200 to $400 a ton. A process is now being worked out to extract the gold from the sand. The Rising Hope property is on the Deep Blue Run channel which gathered ite store of gold thousands of years ago from the Mother Lode, geologists say. It comprises 385 acres extending for over a mile along the course of the old river, long ago sealed by lava flows. Extensive workings in the upper tunnel, 68 feet above the transportation adit, indicate that 300 acres contain gold, with the bench gravel averaging six feet in thickness. 0: NEWLYWEDS HONORED AT BRIDES’ PARENTAL HOME Mr. and Mrs. W. Whitford . of Grass Valley entertained recently at a wedding supper in honor of their newly marrid daughter and husband Mr. and Mrs. D. L. Moody. The newly weds received many beautiful gifts from the nineteen guests present including: Mr. and Mrs, Alfred Sauvee, Mr. and Mrs. Alec Sauvee, Mr. and Mrs. H. Meyers, Miss Peggy Moody, Alton Moody Charles Moody, Mr. and Mrs. K. Lewis, Miss Colleen Lewis, A. McCabe, Ray Hall, Mr. and Mrs. W. Whitford Mrs, Simon Mitchell and Mr. and Mrs. Moody. adit is . 2,600 feet long and passes under the gravel available for ‘washing on! NEW OWNERS OF THE NUGGETOFFER SALUTATORY On November 26, 1926 Arthur A. Willoughby and his wife, Elsie P. Willoughby, printed and offered . to the citizens © of this city the first issue of The Nevada City Nugget. With a fine spirit of appreciation for courtesies extended by the residents of the city, and for the generous” subscription list which had already been placed’ on the books, for the hearty cooperation promised by the prospective advertisers interviewed, Mr. Willoughby wrote a stirring salutatory and promised a newspaper which would, if met with the support and patronage necessary, be a source of pride to the. community in general and to the city in particular. In one paragraph he said, “The Nugget wants to take its place as a going institution in the community. It gwvants to deserve the town’s printing and publishing as far as it is physically able to perform such functions’. How well he kept his word, how splendidly the people responded is attested today by the regularity of the patronage of the advertising space and by the 920 subscribers who look forward each week to receiving their own home town paper, printed im the interest of their own community and giving to each and every new enterprise its wholehearted and willing support, and setedetededetetetetet eeioieins 7 Q5 Hieidiniieieininie . Me 3 fotesefete » eS we aiding in every way the legitimate businesses already \ in operation. * The Nugget was placed on a solid foundation and ¢ ; has gained a steady and dignified growth, through the ¥ Iz continued and _ unflaggi fforts and { the <4 gging efforts and courage of the + * _Willoughbys. . + 1 On June . , 1926 after a brief illness, occurred the + oe st os untimely: death of Mr. Willoughby, and though the family and the entire community was shocked and deeply grieved, not an issue of the paper was missed, M ete 2S 5 S a . mining activity in the development, EASTERN CAPITAL TO DEVELOP LOCAL MINES Nevada City and Grass Valley are due to receive a new. impetus in in the near future, of a group of noted gold mines near both towns. The Consolidated Syndicate Mines Corporation Ltd. incorporated last week with a capital of $10,000,000. Property of the company embraces the old Champion mine, once operfated by the North Star Co., the Central Cons. and New England groups at Nevada City and the Norambagua
property in the Grass Valley district. The New England mine, just outside the town of Nevada City, is equipped with a 60-ton pilot mill which employs the murcuric cyanide process,and has been operated on ore from the New England and other mines of thé district. The New England vein dips about 85 degrees and is opened by an incline shaft to the 1,000 foot level. The vein averages about two and al half feet in width and has been mined down to the 900 Ievel. At the) 900 three feet of ore shows in the bottom of th drift containing $35 to $40 a ton in gold. This orebody is going down strong and will be explored on lower levels. A larger hoist and other equipment will be put in and the shaft will be sunk 600 feet deeper. The New England is across a narrow valley northwest of the Murchie which is dropping 20 stamps on gold ore. The Central Consolidated property covers three veins, the Banner, Arctie and Central, all of which have been highly productive. Machinery will be installed at the Central Cons. tunnel and the adit will be advanced 1200 feet from the preSeieieieietoteteietes no part of the general news omitted and all through the terrible siege of grief and trouble and an automobile accident in which Mrs. Willoughby was seriously injured and forced to spend several’ weeks in the hospital, the paper was regularly issued through her direction from a bed of illness. _ After giving the matter serious thought and realizing a mother’s duty toward her young children, Mrs. Willoughby at last decided to sell The Nugget, and Mr. and Mrs. Ficon, former friends and business associates of the family, were fortunate in being in a position to buy the plant and paper. The deal was made last week in time for the new owners to help publish the issue for September . st. This week will be the real beginning for us and if news which should ‘be of interst is omitted it will not be done intentionally and this statement holds good in all future issues. We believe,.as Mr. Willoughby did, that all business people in any community realize the need pf their own organ of publicity, printed within the confines of their own city and will willingly co-operate with their servants, the publishers, to keep the good work going right on. We wish to offer greetings to, the residents of this beautiful little city and we hope to keep for The Nugget the friendly goo d will and fair amount of patronage which now exists in so large a measure and in return we will ever be found ready and willing to give publicity wherever publicity will help. To publish the news we must have the copperation of those participating in any thing which will be of interest to the public. If you are giving a party tell us about it. If you attended a party or lodge meeting, committee meeting, club or lecture tell us about it. . Just the high lights and we will’do the rest. Do you wish to boost a new enterprise or revive an old one tell.us or write the article. We will use any thing which is fair, square, and for « the good of the Community. A change in the day of issuing the paper might be considered a little later, but otherwise the policy now observed will be followed with mining news taking first place as heretofore. Cordially, THOMAS and ALMA FICON.fe . . i ; BOARD OF SUPERVISORS ‘HOLD SEPTEMBER SESSION Monday being a legal holiday the Board of Supervisors held its regular September meeting Tuesday of last week. : Frank M. Wilson, representing the Hobart Mills Automobile Club, appeared before the board to thank them for the action taken in regard 0 to road matters at Hobart. Last fall Ignition Parts and Accessories at. the club asked for aid in road work Miner’s Foundry. 24tf} and the board took effective action FLOTATION MILL DUE SOON AT NORTH STAR Plans are now being made to establish a flotation mill at the North Sta be used instead of the cyanid precess is reported by a number of lessors, who have produced a large amount of ore and have a mill expert investigating the possibilities of a new type mill. bd a sent ‘length of 1800, to the Bannel mine. In the Banner three veins, the Banner, Central Cons. and Arctic MAYFLOWER REOPEN! WITH BOOM SATUE Preparations for re-opening: tions on the Mayflower mine @ ada Hill near here was comple e urday afternoon and twelve of powder fired to signal the” which has been preceded by 2 summer ‘‘get ready’” campaign The Mayflower is under — management of. H. A. Hood o Francisco who is also engag' mining in the Rubison ¢ow Placer county. Lately Mr. Hood concentrated efforts in bringing the Mayfle its present point of deveipment recently brought in surveyor engineers from’ San Franeised both this and his Placer pré ties. A crew of men. was put to 4 Saturday on the 400 level te siz shaft on the Greenman vein = drift in several crosseuts. 7 promising quartz veins are in 8 and manager James L. Lewis f forward to a dofinite production ing the next few months. The Mayflower consists of claims. . Installation of electrie po at the Grass Valley-Boreham G mine to operate a new hoist, pu and compressor, is proving of derful value and it is. the expecta now entertained by A. O. Witte Los Angeles, president of the m and workmen engaged in sinking 1 shafts to reach a depth of 350 feet] fore drifting on a large 10-féot ve Reports Saturday were that they wé now 40 feet below a 200 level a working fast. 4 Mr. Witte stated that a second shi would probably be-placed at f Boreham mine next week to furth expediate the sinking. The equipm el at th mine is sufficient to drive tu depth of 2500 feet and from a pre join on ‘their strike and this point is the. objective. The Central Consolidated tunnel was driven 1600 feet on the Central. vein, a large part of the way in ore, and from the present face will follow the Central vein into unexplored ground. There are two shafts on the vein, sunk 400 feet below the adit level, which are to be deepened. The tunnel gives 300 feet of backs on the vein. Oragnization of the Consolidated Syndocate. Mines Corporation, Ltd., is the culmination of plans long under way to acquire and develop these mines wnich lie in tne heart of one of the richest gold districts of the west. Incorporation followed immediately the return from New York of President Archibald.where the company was financed. Archibald says there is renewed activity in gold mining in Nevada county and several mines there are producing. The Murchie is. breaking ore from five faces and operates a flotation mill, shipping concentrates to the Selby smelter of the American Smelting & Refining Co. on San Francisco bay. 3 Two or three carloads of ore have been shipped recently by the Hoge Development near Nevada City which is said to average. $80 to $90 a ton from a vein on the 300 level. O:-E. Schiffner of Névada is superintendent ‘of the Hoge and directed exploratory work. : A new strike has been made /in the Boundary mine at Grass Valley, Arehibald said. News of this strike } reached ~ him just. before-departure fer Reno and the report was that three feet of ore had been struck. The thine is in the residntial district of Grass VaHey. f+ The corporation succeeds the New . England Consolidated Mines and will be financed by New York and New England capital. A. R. Archibald of the New England Cons.: will be president and managing director, R. F.D. LeMon of New York vice president and S. D. Stoufer, Grass Valley, secretary-treasurer. ; 0—— H. M. Cooper of Auburn, division manager for the P. G. & EB. and D: C. Stewart of Grass Valley, local agent for the same company were porns at The Nugget office Saturay. which ‘the people of tl greatly appreciate, 59 Only routine matters we Rieter Bcd secti on + ‘i? SF ee pe om aes ona s £2 a = pees es ‘. hewey of Newark, New J officers, sup-. pect the mine is now established the gold mining class. . An outstanding 10-foot qua ‘vein, leading north toward the @ ; Shoots of the famous Merrimac mim i has been encountered and the wor men are now driving on that with th expectation of meeting with thi shoots before reaching the fina depth. The ten-foot quartz vein was © source of surprise to experience ; mining men of the district who hag ‘never expected to find such a yeth fi the Grass Valley mining district. A ; ten-stamp mill is en route to Grass i Valley and will be placed in ope: ‘tion soon, meanwhile great qua tities of pure quartz ore showing free gold are waiting the installation of the mill. : ; MRS. JANE RICHARDS 1S CALLED BY DEATH. Death came gently “to Mrs, Jane © Richards Sunday morning at 6:30 at her home in this city. ; e The estimable and aged lady had been an invalid for many years past . and her last severe illness was ef e. only one week‘s duration. Her daughter, Miss Annie Richards and two of . her sons, John and W. H. Richards, } were with her when she slipped quietly away as one falling Asleep. = Mrs. Richards was born iff England, June 20, 1850, coming to America in her youth. She has resided in Nevada City continuously” stnee 1884. Her husband, John Ri died in 1904 and since that daughter, Annie, and son, J continued to reside with her; A woman of’ strong aati christian character, jevotedthin Gil heme and family, she held the love and réspet of all with whom she came in contact, and though, as before stated, she has been an iny many years her con friends and relatives in home has been extremely pleasa Relatives at a distance are two ters, Mrs. Margaret Reynolt es ing in England, and Mrs, son,.,Tom Richards, who ‘fes his family in San Francisco."An Sister, the late Mrs. Rowe Valley, had resided for mt Funeral services will be hi family residence 504 Zic Tuesday afternoon at 4 Reverend Buckner of ae