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Page: of 4

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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