692 GEOLOGY AND mXING INDUSTEY OF LEADVILLE. 



SECTION IV. 



PRODUCTS OF SMELTING. 



Sale of bullion — lu Leaclville bullion is generally sold to agents of Eastern re- 

 fineries, who pay for its transportation from the camp to the East. The cost of trans- 

 portation varies, according to distance, from $27 to $35 per ton. 



The price of lead in bullion at Leadville has varied during the year ending 

 June 1, 1880, from $30 to $78 per ton. The average price has been from $60 to $72 

 per ton. 



Sometimes bullion is paid for at New York quotations, with a deduction of 3 

 cents per ounce of silver and of $14 to $15 per ton of bullion for the refining charges. 

 In other cases, the refiners' charges are 3 ounces of silver and 5 per cent., or 100 pounds 

 of lead per ton of bullion. 



When the smelting works of Leadville are branch establishments of large eastern 

 refineries, private arrangements are made between the main works and its branch. 



When bullion is shipped to refineries to be desilverized for account of the smelting 

 firm, the smelters pay for the transportation of bullion from the camp to the refinery. 

 In this instance the agreement between smelters and refiners is shown in the following 

 model of bullion invoice. 



NAME OF SMELTIXG FIRM. 



Leadville, Colorado. 



Invoice of bullion, No 



Car lot bars weighing lbs. shipped 18S— . 



Assay per ton (2,000 lbs.) ozs. silver. New York quotations day shipped. 



Total ozs. silver less ozs. per ton in refining ozs.. ■© per oz.. 



Total lbs. lead, ., less per cent, lost in refining, lbs.. ® perlb.. 



Value of lead and silver 



Deduct freight to $ ...; cost of refining per ton, $ 



Net value of shipment 



Deduct , 10% of net value 



Amount for which draft may be made 



When the price of bullion is low it is frequently kept in reserve in Leadville, in 

 the expectation of a rise in the New York price. During the mouth of August, 1880, 

 ■one of the smelters presented the imposing sight of reserve piles of 14,625 bars of 

 bullion, amounting to 1,453,250 pounds, or 716J tons. 



The bars of bullion in the camp belong to two principal types, shown in Figs. 3 

 and 4 and Figs. 5 and 6, Plate XLY. Their average weight is 100 pounds, so that 

 car-loads weighing on an average 20,000 pounds, or 10 tons, are formed of 200 bars. In 



