|Paper||Western Mining Gazetteer|
|Rights||No Copyright - United States (NoC-US)|
|Publisher||Digitized by J. Willard Marriott Library, University of Utah|
|Paper||Western Mining Gazetteer|
WESTERN MINING GAZETTEER. I tvro leb it )ii)perty working i upon the mountain, as it will also iflord facilities for many mines now lying dormant. Sentinel. WHAT T1IE GOLD HARVEST WILL BE. District. i1 Whetlie r or not the flow of gold to the United States during the present year is equal in volume that of last year, is a A great question of groat interest both here and abroad. difference of opinion exists regarding the matter, but in Europe the conclusion is general the wish, possibly, being farther to the thought that the history of 1819 is not to be repeated in 1Sij5. The London Economist of September 14, in considering the question, makes a comparative review of the money market of New York city, in August of this and last year. After estimating that about $07,000,000 gold had been shipped from France and England to the United States, between August and November, 1879, it shows that the reserve of the New7 York associated banks, which w7as about $01,500,-00- 0 in August, 1819, was last August over $80,000,000. Call loans were 5 per cent, last year. The estimated excess of exports to England over imports, for the eight months ending August, was in 1879 $225,000,000, and in 18S0 only $210,000,-00a difference in favor of England of $15,000,000. The rate on call loans in England has advanced from per cent, to If 2 per cent., while the British harvest, which last year was below the average and of bad condition, is this year of good average and capital condition. Upon these facts the Economist bases the conclusion that the United States will not be able to draw as much money from England this year as it did last. It then reviews the figures pertaining to the circulating medium in this country, and confesses that they are not so assuring of a similar movement of gold to the United States. The net imports of specie into the United States, for the year ending June 30, 1880, are given at $7G,000,000, and the production at $05,000,000, making a grand total of $141,000,000. The increased stock of coin and bullion in the United States Treasury and the national banks amounted to $91,000,000, showing that $50,000,000 had The decrease of legal tender in the gone into circulation. Treasury and banks, amounting to $31,000,000, and the increase in note circulation of the national banks, amounting to $23,500,000, added to the increase of specie, make the increase in currency circulation, for the year ending June 30, 1S80, $107,500,000. The Economist then savs: These figures show a wonderful power of absorption of the circulating medium by the population of the United States. After examining them w7e can hardly argue that, because the New York money market is quiescent, gold may not be wanted in the Union. It may not be taken for the New' York banks themselves, but much may be wanted for circulation in the Western States, especially for the harvest demands of that immense region. Three things must bo borne in mind with respect to the demands which the United States may make on us for bullion: Thev have clearly a larger stock of the circulating medium to begin with; the proportion between their exports and imports is less; and prices have also to some extent risen on their ndo. On the whole w7e are inclined to think that, though gold may, and probably will, be taken for the United States from this country, it will probably also not be taken to the extent iliat it was last year. An intermittent course, not a regular flow, may be expected. Goods and securities will, we cannot doubt, this year, as last, be taken by choice. The Americans will prefer in the first instance that which will yield an in- Belle. During the week 20 feet has been in running the drift on the fourth level. The ground is Cii a(le A few streaks of and the formation more promising. 1 o ter s giving as high assays as $80, have been passed through. le& The IVre is no change of importance on the third level. of ore in the intermediate, between the first and second , ar jolly The eVls, is looking fine and shows fairly for continuance. Noktiieux ion list risscut 0,1 nli a body t 10 lcvl presents a fine showing for opening The levels above the adit look full as of ore. rellas at any time last week and are yielding as usual. Mill sTo. 1 commenced crushing Mt. Diablo ore on the 17th hist, wo of the teams which have been hauling Northern Belle met .ri arc hauling for the Mt. Diablo, leaving the former three earns which deliver at Mill No. 2 about 05 tons of ore per This amount, however, will keep that mill running stead-lv?aa lav. The shipment for the accumulate a small surplus. reck ending last Wednesday was $25,085.70, and for the Sep-1- 1 ember account to that date $92,51G.G7. True Fissure, ml r( nicarora 0, I)Itiict. Belle Isle. The east crosscut, 75 level, has been sfi d anced 9 feet; the formation is favorable, seams of vein The west cross-gj1- ( latter, that give low assays, have been cut. ui, lo0 level, has been advanced 12 feet; the ground in the The No. 1 winze, 150 level, has use of the crosscut is hard. icin sunk 12 feet. Total depth of winze 57 feet; vein narrow and ground hard. Belle Isle. The No. 2 raise, on the east lateral vein, 70 erel, has been carried up five feet; total 35 feet. Vein eight ie(! ncWs wide and ore good. The joint Navjo, east crosscut, 150 jtcI, has been extended 0 feet; the ground is very hard. he ore vein in the south stope, 250 level, is narrow. The e fit ii that has been extracted in running drifts and raises is og milled. .Commenced crushing yesterday morning. amil Xrt.exta. The 200 level, east drift, has been advanced dde ig)itfeet; total, 507 feet. The face of the drift does not look l f o favorable as at the last report. The only work being done t lie mine is running the cast drift and hoisting water. The at Ml will be cleaned up and closed down watj (jkaxd Prize. The south crosscut from the east drift, 400 will jevj1, has been run 24 feet, and is without The any change. le, aast daift front ledge, 500 level, has been extended 18 feet; The ore ic fifiiqj vein of ledge matter shows some improvement. cltxFem in the 500 level stopes is still producing considerable ore. lie ifhe vein is not as large or ore as good as the stopes were im-- . 1 mediately above the 500 level. The pumps are working well, sarciAej water below the 000 level station, and the drift started this No. Doping for the ore chimney developed on the front ledge, 500 The flow of water in the winze is as strong Tii'fevpl. uctiipow as when grst cut. It is impossible to sink the winze any m deeper until the ledge is drained. a 9i Navajo. The south surface prospect incline has been sunk I1? tobd? 05 feet. The vein matter continues large, and thergivos J0W The upraise from the south drift main assays 70 level, has been carried up 0 feet; total, 30 feet. Vein Ia 'narrow and poor. The south drift, east lateral vein 70 level, M been extended 8 feet; total, 128 feet; vein six inches of fair liiillinnr oro Tiie joint Belle Isle east crosscut, 150 level, as been extended G feet, ground very hard. The south inter-e- t, drift, below the 150 level has been advanced 0 feet, tratff11! le north drift, same vein and level, 7 feet; vein 0 inches irtvflae aml good milling ore. Wf Independence. The north drift, 400 level, has been ad-l,- e fenced 24 feet since last report; total, 420 feet. The inter-- y drirjteiuate drift, between the 400 and 500 levels, has been 10 feet during the veek and is now in 38 feet. Up-- h the 400 level is up 10 feet; total, 30 feet. It still lows coil a small vein of rich ore. The north drift, 500 level, has f? si?11 tended since last report 28 feet; total length, 010 feet. crosscut from the 500 level has been advanced 8 feet and aotn1. ?ov in a distance of 44 feet. No change wortliv of report 10 .either of the drifts. lart i Xoktii eiy 111 11 be-ad- to-da- y. 50-fo- i.i; ot in-cendi- ex-ulsT(e5l- ie, come, or be a source of profit, to that which, though valuable, is under the circumstances a source of neither. We are pleased to note that the Utah Ore Sampling Mill is that the busimaking such satisfactory returns to ness is rapidly increasing. A thorough, reliable business man ore-selle- led is vfroin I J. rs C. Conklin. A careful estimate of the gold product of New Mexico, from 1818 to 1870, give a grand total of $0,075,000. 1 I The Arizona i'itizcn reports a strike in the Xavier mine, near Tucson.