THE GREAT BONANZA—A WALL OF GOLD AND SILVER.

Globe, Volume III, Issue 210, 10 February 1875, Page 3

THE GREAT BONANZA—A WALL OF GOLD AND SILVER.

The San Francisco correspondent of the New Zealand Herald supplies the following interesting particulars of this mine ; —When Cortez led his conquering hosts through the fairy lands of Mexico, he and his soldiers discovered regions of wealth, the mere description of which centuries afterwards fired the souls of thousands of adventurers, and sent forth many an argosy in pursuit of the fabled wealth. In the “ Arabian Nights” the wildest imagination produced pictures of wealth, dreams of gold and silver, that not even the author conceived to be within the domain of the possible. And yet here in California, or rather in its sister State, Nevada, has been discovered a mass of gold and silver, a region of actual real wealth, before which the wildest stories of the Cortez band, or the most fanciful pictures of the “Arabian Nights,” become dull, feeble, prosaic facts of the past. In the early days of California and Australia men talked of thousands of pounds as Old World folks spoke of shillings ; and we have wondered at the terrible extravagance of men who lit their pipes with five-pound notes and drank only the rich and generous juice of the grape as provided by the widow Gliquot. We have in New Zealand seen men lifted from comparative poverty into affluence by some sudden stroke of luck. Who can forget the intense excitement caused by the rich out-turn of your Caledonian mine. But all these things fade into mere nothingness in comparison with the wonderful discovery made in the old Comstock lode. Facts are always hard hitters. I am going to put myself in position ; look out for stunners. Up to last June the total yield from the Comstock lode during some fourteen years was 200,000,000 dollars. Now, in one strike in the Consolidated Virginia and California mines there has been opened up a mass of bullion, silver and gold, valued at over 300,000,000 dollars. If it extends through the Ophir, as it appears to do, the gross value will be nearly 500,000,000 dollars. To-day the mine is selling at the rate of 10,000 dollars per inch front. The ore has been cut on the 1100 feet level and carried down to the 1500 feet, giving in two mines alone a body of almost solid silver and gold measuring 1200 feet by 400 feet. Think of it and weep. The Ophir will probably have an equal amount. Nearly every foot of this wealth —for it is as real as if in the bank—is owned by San Francisco. Can any one attempt to picture the results of an expenditure in this city of 500,000,000 dollars. The three mines I have named could be sold for a sum equal to the entire value of the whole city of San Francisco. Now for specialities. Flood and O’Brien, who were five years ago running a small bar, are now worth over 60,000,000 dollars. They own 60,000 shares in consolidated Virginia alone. They have already realised some 20,000,000 dollars, in addition to vast sums made in other mines. It is fairly estimated that within three years this firm will be worth 100,000,000 dollars. At least fifty men have realised one million each by the great find, and there are hundreds who have made from 100,000 dollars to 400,000 dollars, and there is no sign of any break in the excitement. This wealth is not on paper; it is real, tangible money. Of course such another chance may not occur in a century, for only those who were the fortunate holders of stock in the Consolidated Virginia have made great wealth. The dis covery in these, mines has, however, given a lift to all the range of the Comstock, and ’tis not unlikely that hundreds will now rush after “wild cat” claims, and get severely bitten. But this cannot affect the value and importance of the find in the mines referred to. No such discovery has the world ever heard of, and it must have a great influence in building up the great Ban Francisco of the future. The capital stock of the Consolidated Virginia is represented by 100,000 shares, at 100 dollars each. They arc selling to-day at 600 dollars each. Other mines in proportion. The percentage of gold in the new discovery is about 33 per cent, or onethird of the fund. All these Comstock mines are deep sinkings, most of them being worked at a depth of 1500 ft, The Savage is down 2200 ft, and is preparing to sink to a depth of 5000 feet. The largest pump at work is a 22-inch stroke. The mills are pretty much the same as those employed on 'the Thames, but are driven chiefly by water power. They range from 20 to 100 stamps per mill. There are 20 of these in operation, but they are inadequate to the demand-. Just now three 80-stamp mills are being erected on the works of the Comstock. Amalgamating has reached the highest point of science attainable, and very high salaries are paid to the amalgamators. The stone is a “ live grey quartz, much crys. tallised;” the ore very fine, but exceedingly rich, in many cases yielding 2000 dollars per ton. The present out-turn of the Consolidated is 500 tons per day. All the lodes run north snd south—levels being driven east and west to intersect them.