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Show WESTERN MINING GAZETTEER. WHAT BECOMES OP THE GOLD. THE NEW YORK MARKET. This is a question that is engaging the attention of economical writers at home and abroad. It was supposed that tho West laid got about as much currency as it wanted, after the sale of last years crops, and that this fall it would be inclined to receive payment for its products in goods instead of money, a supposition which tho facts have to a very large degree warranted. For all that, there is still a strong demand in tho interior lor currency, and it is a steady as well as a strong one. Rut it is in an uncertain volume that it comes in this direction. The question again confronts us, What has become of the currency that has absolutely gone out of sight since the date of resumption? The banks in the interior are conceded to hold the larger part of it, since there is no other explanation of its disappearance, except by hoarding and by its being in circulation in consequence Since the date of reof increased business. sumption, it has been estimated that about 173,700,000 in money of all kinds has been absorbed ; no return How from the interior having shown itself this year, while the outflow so far has been practically the same as last year. Gold has increased in the country since resumption to the amount of 170.500,000, the banks and Treasury having taken some 77,- 000,000 has vanished during the past year, and about 10,000.000 within the last three months. Some 30.000,000 of gold, in other words, has been produced in the country and f has gone into the imported, of which banks and tbe Treasury, and the rest has And during this time, wholly disappeared. too, silver has been piling up in the Treasury until it has overrun. Legal tender has vanished in the same mysterious wav. Yet the v national banks have not expanded their issues correspondingly, although they were perfectly free to do so had there been a demand to warrant it. Europe is directly interested to know when this hunger for gold and legal tenders is to be satisfied. During four weeks in October, not less than 17,307,890 in gold has disapf of it peared from New York. Fully has gone no one knows whither. Legal tenders are beginning to return to the great money centres, but gold is absorbed and shows no signs of coming back. And there are no reasons to believe that this absorption of gold by the people of this country has yet reached anything like its limit. It is an entirely new currency experience with us. and demands entirely new reasons for its explanation. one-hal- one-hal- MINING. The Roston Economist winds up a long article on this subject, as follows: We are well aware that with millions of unemployed capital, speculation will turn largely toward mining stocks ; but while we shall not cease to draw public attention to untrue trading in mining companies, we assert that mining is growing with the growth of our country. The industry and thrift in our agricultural districts, the high price of railroad shares, the increasing value of government bonds, all tend to tho employment of capital in "mining and the more the business can be divested of speculative tendencies the larger will he the drain of funds from over stocked, vaults, and their use in the development and management of legitimate propci ties and mining enterprises. From the present plethoric conditions of the money market and the extremely high prices of railway shares, we regard investments at present low prices in the leading mining companies as most favorable. The tendency of the market is toward the pav- mg nunc for legitimate investment and correct usiness purposes in mining. so-calle- d en-lenpris- es; non-pavin- g -- GENERAL MINING NOTES. Tho Victoria Colonist' h correspondent, who Says the Amor lean Exchange, of the ,17th Without any decided change for the better in spent the summer in tbe Skagit mines,. prothe local money market, and without any new nounces the diggings a palpable failure; ho 10,000 is in excess of tbe value of tho developments in the general financial situation, says taken out there. There were about fifty the bear clouds which have obscured tho ho- gold rizon of stocks this week were yesterday dis- men there when be left. Fully 300 men bad left tho mines disgusted within the last month. pelled by strung bull sunshine. The market Miles of dams, scores of waterwheels, pumps, opened strong, and ere long tho shorts saw that it might be wise to cover, so that by the machinery, tools, cabins, sluices and lumber close prices were about 2 per cent, higher than had all been abandoned. Thousands of feet the linal quotations of Tuesday. The activity of lumber strew the sides of the creek for tho of the speculation was considerably increased first freshet to carry to away. Everybody lias become demoralized. and, right and left, dividend paying stocks and stocks only expecting futuro dividends moved A dispatch from Sitka says a party of miners upward with the general current. The tone of returned from the interior of Alaska and tho the room traders is still largely bearish, headwaters of the Yukon River, to that place, and it is almost impossible to ascertain the real and report numerous gold deposits and indicaviews of certain influential operators, but cer- tions of rich placers. Another expedition will tainly tho undertone of strength wliich the go out next season. stock market has displayed frequently under The placer mining operations in Alder even discouraging influences is not likely to be diminished bv the receipts of gold from Eu- Gulch, Montana, during the season just closed, have been very satisfactory to tbe claim owners, rope, which will reach this city before the end The yield of gold dust lias been somewhat in of tli e week. excess of that of last vear. TERRITORIAL MINING NOTES. The annual meeting of Stockholders of the Norway Iron Mining and Manufacturing Company of Utah, was held in this city on the 20th of November, when the following gentlemen were elected directors of the ComJohn T. pany for the ensuing year, Lynch, Chas. Popper, R. A. M. Froiseth, John Beers, Fred C. Lvngbcrg, Chas, L. Thomsen and S. J. Admire. 10,000 being received. Most of tbe Eastern stockholders of the Raymond and Ely Company have paid up tho 2 assessment levied upon the stock of that incorporation. A half interest in the Davis mine, Lone Mountain District, New Mexico, has been sold for 2,200. The ore is low grade but the body A map showing the situation of the mines seems inexhaustible. The Mary A. mine, Dragoon Mountains, Arlying in tbe great mineral belt crossing the Cottonwoods, American Fork, Uintah, Blue izona, turned out seven bars of fine bullion, Ledge ami Snake Creek mining districts, has been prepared by Maj. E. W. Wiggins, of this The Shakespeare Mines, New Mexico, show city, and will bo found a handy means of ref- a large amount of low grade ore. erence bv miners. A rich strike is reported in the llnenix It is reported that a body of ore 10 feet wide the Tough Nut, Arizona. free milling ore has been struck in the Major. mine, near Granite District, and assays show nearlv 10 The Ilermosa mine, Arizona, yields from ounces silver per ton. This is the largest body 100,000 to 130,000 per month. of ore that has yet been uncovered in this section, excepting the Horn Silver Mine. The llortl reports a very important strike on tbe 700 level of tbe Ontario. The vein is as strong and rich as on the upper levels. Assays obtained as high as 700 ounces. The South Horn Silver Mining Co. was incorporated in New York this month to develop the A mericus mine, Frisco district. This is the second south extension of the Horn Silver, to-wi- t: -- -- vein lias been cut in tbe Jeannette Thaynes Canyon, which assays10 per ton; live inches of which goes as high as 300. A 21 inch The vein in the Col. Compson, Fine Grove district, is two feet wide and assays 05 ounces silver, 02 per cent, lead and 1 gold. The shaft on tbe Lowell it Williamson is down 35 feet and the new arrive this week. hoi-tin- g works will Two tons of ore daily averaging IS minces silver and U per cent, lead arc being shipped from the Woodside. The Marshall, Granite District, shows a vein 10 feet wide between walls. Crosscuttin ir lias been commenced. The Godbe smelter obtains its fluxing ore from the Lake Superior mine, North Star dis trict. The Milford Sampling mill, M'Corkindalc it Co., proprietors, is ready for business. The mines of Eldorado Canyon, Nevada, are said to be looking up. On the 15th, the Contention mine, Arizona, The Ilawkeye shaft is down 135 feet. bar of bullion. The shipped its twenty-seconbars have averaged not Sinking lias been resumed in the Utah shaft. quite 2,100 each. d It is rumored that Eastern capitalists have advanced money to the Hillside Mill and Mining Co. 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