THE CHEAT BONANZA.—A WALL OF GOLD AND SILVER.

New Zealand Herald, Volume XII, Issue 4124, 1 February 1875, Page 3

THE CHEAT BONANZA.—A WALL OF GOLD AND SILVER.

[IIIO.M Ol'K SAN FUAXCISUO COBKEiSI'ON'DEST.J Whks Cortex. lead his conquering hosts through the fairy lands of Mexico, he and his soldiers discovered regions of wealth, the mere description of which centuries afterwards tired 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 tile 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 Cortex baud, 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 wc have wondered at the terrible extravagance of men who lit their pipes with live-pound notes and drank only the rich and generous juice of the grape as provided by tile widow Cliquot. Wc have in New Zealand seen men lifted from comparative poverty into atlluenee 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 Comstoek 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 Comstoek 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 1500,000,000 dollars. It" 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 1,100 feet level and carried down to the 1,500 feet, giving in two mines alone, a of almost solid silver and gold measuring 1,200 feet by 400 feet. Think of it and weep. The Ophir will probably have an equal amount. Nearly yvery 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 1 have named could be sold for a sum equal to the entire value of the whole city of .San Francisco. Now for specialities. I'lood and O'Brien, who were five years ago running a small bar, are now worth over 00,000,000 dollars. They own 00,"00 shares in Consolidated Virginia alone. They have already realised some 20,1 >00,000 dollars, in addition to vast sums made in other mines. It is fairly estimated that within three years this lirm will be worth 100,000,000 dollars. At least fifty men have realised one million each by the great lind, 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 discovery in these mines has, however, given a lift to all the range of the Comstoek, and 'tis not unlikely that hundreds will now rush after "wild cat" claims, and get sevcrcly bittcn. But this eanuot affect the value and importance of the tind in the mines referred to. No such discovery has the world ever heard of, and it must have a great iulluence in building up the great San Francisco of the future. The capital stock of the Codsolidated Virginia is represented by 100,000 shares, at 100 dollars each. They are selling to-day at 000 dollars each. Other mines in proportion. The pcr-eentage of gold in the new discovery is about 33 per cent., or onethird of the fund. All these Comstoek mines are deep sinkings, most of them being worked at a depth of 1500 feet. The Savage is dowil "2-00 feet, 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 cllietly by water power. They range from 20 to 100 stamps per mill. There are 20 of these iu operation, but they are inadequate to the demand. Just now- threo SO-stamp mills are being erected on the works of tlie Comstoek. 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- [ taU'aeilthe ore very tine, 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 and south —levels being driven east _md west to intersect them. In connec» tion with this lode, it would be like writing a history of Xcw Zealand and omitting t» |> mentioi, the native race if I did not refer to the Great Sutro Tunnel, which is to intersect all the lodes on the and to be carried through the hills for a distance o£ four miles. SOOO feet have already beea constructed. This tunntl is to be veiltillated by a number of shafts, of a depth varying from 1000 to *>000 feet. The Bank King" has fought Sutro for years, because the success of the tunnel will put att eiul to some of their best pickings. This ring owns all the mills in Virgiuia—Suiro will break this monopoly, hence their zeal to oppose what is not only a grand gigantic scheme, hue a most valuable labour-saving and wealth-producing undertaking. I inclose 3*oll views of the Comstock and Tunnel; also, Intro's opinion of Bill Sharon, the candidate# for Congress, and the head of the rinir. The country around the mines is rugged, barren, and forbidding, but what miners would call "likely." In all the mining works in this country the Burleigh drill is used. 1c i.-. uov/ driven by compressed air, and is of immensvalue in hard country. Xo large mine is without a drill. The term Bonanza is Spanish, meaning literally to sail with a fair wind and fair weather. Its application to the great find is very appropriate. I would, here wain that host of erratic nomads that make up the mining world tint there is no earthly use in anybody coming here to look for an inch 01 two of this Bonanza unless he has a couple of _ thousand pounds to put up. 1 his is not a poor man's field, and those who arc doing well had better let well alone. Outside the actual holders of the stock, the whole business is a. big gamble, and as 1 have not even au eighth of an inch in the Bonanza, I feel compelled to moralise and condemn the whole affair. £ cannot undertake to say what spectacles I should wear if [ owned a few feet ; in ths meantime, all those men who have acquired enormous fortunes must of necessity be pro-« portioiuUely wicked—those who have escaped being rich being proportionately good—foe nothing. And now you can meet a score or a hundred or more excited madmen trotting up and down California-street, each with an immense pocket-book and pencil in his hand, prepared to shewyou how he had just missed a million. This one knew the thing was right, but his wife, "hang her," advised him off. -Another one had just been one hoar late, a third had been rascally sold, but all felt convinced they were deeply injured men—in fact, had lost millions through no fault cf their own. One man produced a* most elaborate setof tables, shewing that had he but had ten thousand to start in on, hs would have rivalled the Kothschilds in no time, lie had drawn a pretty sketch of a handsome villa residence which he proposed erect. There *,»*as also sketched out a trip through Europe, a seat in Congress, all sorts of honors and dignities which he waa sure of, only for that unaccountable ten thousand. But he had not ten dollars to go 011. Verity, he was to be commisserated.