million dollars in gold and silver, per annum, and the additional secured by this work was but three hundred feet, items quite insignific pared with the annual yield of the Comstock lode, and the depth of di accrue from the construction of the Sutro tunnel. A tunnel some fift in length, designed to drain the principal mines at Freiberg, Saxony, in progress of excavation for several years, forty more being expected its completion; nor does this work deepen the present drainage up mines to anything like the extent attained by the Sutro tunnel. number of extensive tunnels have been commenced, designed to inte Comstock lode at depths varying from five hundred to one thou beneath the surface. Some of these, after being partially completed, abandoned; upon others work has been suspended at different stage progress; while upon a few operations are still being vigorously prosec the prospect of an early consummation. Some of the shafts now bein is proposed to carry to a depth of twelve or fourteen hundred feet, pumping and hoisting works being provided for the purpose.

Character, quantity, value, and distribution of ores in the Comstoci The great body of valuable ores contained in the Comstock ledge cons black and gray sulphurets of silver, several other varieties having been in small quantities, more, especially near the surface. Native silver diffused throughout all parts of the vein; and while no large masses obtained, many handsome specimens have been gathered from th claims, the aggregate value of all the virgin metal taken out being qu Combined with this ore is a small amount of the baser metals, such a phurets of antimony, lead, iron, copper, &c. These are present, howe in limited quantities, this ore being remarkable for its freedom from similar substances; hence one of the elements of its comparatively duction. Associated with the silver is a notable percentage of gold, th extracted during the earlier working of the mines containing a larger it than at a later period when, through improved machinery and proc a more careful manipulation of the ores, the silver was more closely sa Gold Hill the bullion extracted at first was worth from six to eight d ounce; now it is reduced to between two and three dllars, that from m points along the Comstock lode being worth still less owing to the he of silver it contains. The deeper the mines at Gold Hill are worked the metal tends to silver. By simply crushing and amalgamating, from s ninety, on an average more than eighty, per cent. of all the precious m tained in the great mass of the Comstock ores can be extracted, thereby d with the troublesome and expensive process of roasting or smelting only a small quantity of the extremely rich or more obdurate ores are The mass of rocky matter enclosed between the walls of this ledge is to be ore-bearing throughout all its parts. In spots it is quite barrer being collected in streaks or bunches, leaving the balance so entirely of metal, or only so slightly impregnated therewith, as to render it i raising. In other places the metalliferous ores are generally diffused th the vein-stone, being here usually of a lower grade than where occu more concentrated form. This lode, having been found remarkably ri or three spots quite upon the surface, and these happening to be t where practical operations were first initiated, led at the outset to v gerated notions of its probable wealth, and a consequent overrating of pective value; a circumstance to which much of the wild speculatio as many of the misapprehensions and mistakes, that subsequently cha the management of these mines, as well as the financial operations therewith, may be justly attributed. Under the excitement of the mos through the general ignorance prevailing in regard to the nature of silv it was inferred that these bonanzas would not only be of frequent oand extend indefinitely downwards, but that the entire body of the lo

rger and more productive the further it was penetrated in that direcupposition which, it is needless to say, subsequent experience has confirm, most of these rich accumulations of ore having been exhausted eat depth, and the ledge generally, though increasing somewhat in as descended upon, having undergone no corresponding increment in ne of the ores, or in the average yield of the precious metals. From the mines along the line of the Comstock there is at present a much mount of ore being raised than formerly, because of greater facilities ng, and because a much lower grade of ore is now being worked than In the earlier stages of mining at this place large bodies of metallifk were left untouched in the upper levels, being then thought too poor removal. Many of these, as well as thousands of tons of rejected wn upon the dump piles, have since been sent to the mills, and, with nt cheapened means of reduction, found to pay a profit; and thus it is, le the average yield of the precious metals to the ton of ore has been diminishing, the aggregate annual product of bullion from these mines nt a rapid increase until three years ago, since which time it has been ed at about the same point, the amount being about fifteen million dolannum. For the first two or three years after they were opened, the rous ores taken from this ledge yielded from one to three hundred dolton; the average of all worked being over one hundred and fifty dollars, me small lots carefully selected went much higher, ranging from five to two and even three thousand dollars to the ton. But the quantity lass was limited, and it is probable that nearly as much equally rich d now be procured by carefully culling the entire mass taken out. ch parcels were generally sent abroad for reduction, or sold in San o to the dealers in metalliferous ores, who carried them to EuropeSwansea-for treatment.

istrate more clearly the depreciation that has gradually taken place in e of these ores, or, rather, the manner in which, through the agency of ed and more efficient modes of treatment, the working of those of lower th profit have been constantly increased, we may take the case of the Curry company, which fairly represents the experience of most others articular. This company, during the four years extending from 1862 inclusive, extracted from their claims the following numbers of tons of s ore, being the bulk taken out, with the average results stated, viz: 27 tons; average yield per ton, $104 50; 1863, 43,907 tons; average, per ton; 1864, 55,602 tons; average, 73 48 per ton; 1865, 46,745 -ld, $45 41 per ton. For the year 1866 the amount of ore raised will not differ much from that of last year, while the yield per ton will be t less. During these four years this company took out, in addition to bing, fifty-two tons first class ore that averaged $1,800 to the ton, and us second-class that averaged $234 to the ton, while one or two mines better. The average yield of the leading mines on the Comstock I not at present go much if any above $40 per ton; while that from auriferous claims at Gold Hill will scarcely yield $30. With the of the ores the profits of the mine, of course, diminish, it costing but e to work moderately rich than it does poor ores. The total number f ore raised from all the mines on the Comstock ledge will reach and xceed one million and a half. The amount of ore extracted from the ines depends upon their magnitude, the facilities for raising them, and y with which they are pushed. Most of the larger claims are now t at the rate of from twenty to fifty thousand tons per annum, and one a still larger rate. The total amount of ore extracted from all the uate on the Comstock ledge may be roughly estimated at something and a half million tons.

ton.

Cost of mining, hauling, and reduction of ores.-These several item pense vary considerably with circumstances. In estimating the cost c or mining the ores it is customary to include that of constructing, hois pumping works, timbering the mines, &c., as well as of the actual lab traction. The cost of mining the ores on the Comstock ledge average ent about $14 per ton, the price varying from $10 to $20. For transp ores from the mine to the mill the cost is at the rate about $1 per ton mile the ore is carried, unless the distance be long, when it is less. the shortest distance usually costs $1 per ton. Where contracted fo lots, teamsters haul from Virginia City to Carson river, seven miles, f ton. Ores treated by simple crushing and amalgamation, as most taken from the Comstock ledge are, can be reduced at a cost varying to $16 per ton, the average price being about $14. The auriferous ore Hill, which require but few expensive chemicals, do not cost over $8 c Where water-power is used instead of steam the expense is abo ton less, these all being reductions of from thirty to seventy-five per the prices that prevailed a few years ago. Where dry-crushing with or smelting is adopted the expense is two or three times as great as by method. Not more than one-twentieth, if at present so large a proporti ores from the Comstock mines are treated by dry-crushing, though upa share of those taken from the ledges in the interior this plan could be with advantage, the most of them requiring roasting or smelting. To rates, except in the item of hauling ores to the mills, which is about there must be added, where these several operations are carried on in t districts, from fifty to one hundred per cent., the price of labor as we kinds of material being that much dearer there than about Virginia C tracting the ores from some of the extremely narrow ledges in these local costs four times as much per ton as from the claims on the Comstock much dead work being required to secure a small amount of ore from th Annual and total product of bullion extracted from the Comstock Assuming the gross amount of ore taken from the Comstock lode to l one and a half million of tons, a rather low estimate, and supposing yielded at the rate of forty-four dollars per ton, the present average than $40, we have a total bullion product of $66,000,000, reckoning of the present year. That this estimate of the gross product is not the way, the following table exhibiting the annual yield of all the Nevada tends to establish. These figures are for the most part der authentic sources, and although they embrace the yield of all the mi State, we have only to make a deduction of about five or six per cer outside districts, the balance being justly credited to the Comstock lea

*The above estimate as stated is derived from authentic sources, but it diwhat from the estimate made by the surveyor general of Nevada given in sectio 33, with which it may be compared, as well as with the total yield reported by th companies on the Comstock lode as given in clauses 35, 36, 37, 38, 39, 40, 41,

section 3.

owance of five million of dollars would undoubtedly cover the product e outside mines, making that of the Comstock vein to be, as above, 66,000,000. The rate at which this lode has been yielding heretofore ll likelihood, be kept up for an indefinite period to come, there being aple in the history of silver mining of a vein of this magnitude and r being exhausted or giving out, though many have been worked steadily uries and in some instances to depths three or four times as great as reached on any part of the Comstock lode. The yearly turn out e mines could easily be enlarged, as it no doubt will be hereafter, ew levels shall be opened or new claims brought to a productive n, and additional works shall be supplied for raising and reducing

That their annual product will be augmented to twenty millions , in the course of a few years, seems quite likely. It could even, epresent means for extracting the ores, be increased several millions were the leading companies disposed to employ a larger number of cusIs and to adopt the rushing and exhaustive system in vogue a few years at which, while it secured large aggregate returns, was found to be d with great waste and to tend to a rapid depletion of the mines. As a to this plan cannot therefore reasonably be looked for, the anticipated of bullion may be expected to grow out of the causes above mentioned, unction with a more economical and perhaps efficient reduction of ores, y those of a lower grade than are now worked can be treated with profit. nual yield of none of the older claims has been as large for the past two s it was for two or three years previous to that time, the deficiency being d by several new claims that have since become productive, such as the I Norcross, Crown Point, and others. Thus the Gould & Curry comwhose mine did not begin to turn out bullion in any quantity until 1862, ed that year $858,819, in 1863 $3,887,755, in 1864 $4,921,516, and in 2,401,06C, the product the present year being about the same as last. tire amount of the precious metals taken from this mine, calculating to of the year 1866, amounts to about fourteen and a half millions of From the Savage mine there has been extracted during the same time $4,500,000, the total yield for the year ending July 10, 1866, having 1,256,663. The Hale & Norcross which only lately began to yield , is now producing at the rate of about $1,500,000 per annum.

The

of the Imperial mine at Gold Hill was, for the year ending May 31, $854,630. For the last year it has not yielded so largely, the same being applicable to most of the formerly highly productive mines near well as to many others near Virginia City, such as the Ophir, Mexican, 1-Chollar, Potosi, &c., from none of which has there been anything like ount of bullion extracted the last two years that there was for the two preceding, while upon one or two of them labor has nearly ceased. The of this falling off is not so much in the poverty of the mines themselves, f which have been amongst the most prolific on the Comstock lead, and l known to be rich, as in a lack of energy on the part of the owners in to provide the means for draining them of water and a renewal of prosg operations. On some of these mines work has been suspended until powerful machinery for hoisting and pumping can be supplied, while in a her cases it has been for want of adequate means to go on, or because the amounts of good ore at one time obtainable in the mine having given out, wners have become discouraged or concluded to discontinue operations he adjacent mines have been drained and explored.

ruing profits, dividends, losses, disbursements, &c.—Of the net profits that accrued to the owners of the mines upon the Comstock ledge, taking them hole, it is impossible to make any accurate computation. In many of the valuable claims but little capital was at first invested, the owners being

RESOURCES OF THE STATES AND TERRITORIES

the original locators, or purchasing them from the latter for small and o nominal prices. This was more particularly the case with the numer but extremely rich claims at Gold Hill, as well as the Ophir and Mex Virginia City. At first there were no taxes of these mines; the body of ore was large, exceedingly rich, easily ex any kind upon the I thousands of tons being found in the croppings above ground-and th it capable of being reduced at a comparatively small cost; wherefore t to the owners, or at least to such of them as had come by these cheaply, were, during the first three or four years, not only steady, ce large, but in many cases enormous; and had better judgment been ex that period in working the mines, and more caution in properly secu titles, or had greater economy in the expenditure of their proceeds served by the owners, much of the disaster, loss, and, in some instan ruin that overtook both might have been avoided. For the developmen mines and the working of the ores few assessments were ever req most of them being not only self-sustaining but dividend-paying from Prior to the erection of steam-mills the argentiferous ores were sold and of the country for reduction, the auriferous rock at Gold Hill being w arrastras, a slow method, but one that answers well where the rock is simple crushing and amalgamating serves the purpose. Another adva this early day was, the mines were mostly owned by single individual or three at most, acting as partners, and not by large incorporated co and thus a source of much wastefulness and mismanagement, not to sa tion and fraud, was guarded against. So large was the income from these claims at Gold Hill during the period we are considering that the commanded from five to fifteen thousand dollars per foot, the net month derived from them varying from five hundred to three thousand dollars foot. In some cases persons owning but ten feet enjoyed from this s annual revenue of more than twenty and even approximating thirty dollars. Nor were these princely revenues confined to the claims in G proper, (a mound of quartz some three or four hundred feet in length;) prietors of the Mexican and Ophir for a time fared nearly as well. I porary productiveness of the mines, leading, as has already been obs the subsequent high prices and extravagant notions of their prospecti which in turn caused the undue excitement and over-speculation that cu on several distinct occasions not far separated, in general disappoint loss. How frequently and extensive these losses have been may in some be gathered from the following tables exhibiting the fluctuations in the such mining stocks as have been generally dealt in by the board of brol which, although they do not embrace all the productive mines in the S ficiently indicate the fate that at one time or another has overtaken a 1 jority of them.