504 MINmG INDUSTET. 



The entire product of ore was usually sent to the stamping mill without 

 selection of first-class for smelting, and yielded on the average fifteen ounces 

 of gold to the cord of rock, or two ounces per ton. In some cases three or 

 four ounces per ton were obtained. 



Late in the summer of 1868 the company began to select the best of 

 their ore for smelting in order to avoid the loss involved in treating ores of so 

 high a value by the ordinary stamping process. 



During the two years ending September 1, 1868, the total product^ 



of this claim was, in currency $197, 155 



Of which the costs of production were — 



For mining, 600 cords, say 4,500 to 4,800 tons $51,089 



For milling, 600 cords, say 4,500 to 4,800 tons 26,846 



77, 935 



Leaving as profits, currency 119, 220 



Out of these profits ten dividends of $10,000 each were paid previous 

 to November, 1867 ; during the succeeding year no dividends were paid, as 

 the mine not only required considerable outlay for improvements, but suf- 

 fered much delay and embarrassment on account of water. In the summer 

 of 1868, however, the work was going on profitably. 



During the month of August of that year, which may serve as an average, 

 the costs were stated about as follows : ^ 



Ordinary mining expenses, in currency $2, 600 



Proportion of pumping costs 800 



Hauling ore to mill, 30 cords, at $11 330 



Milhng costs 700 



4,430 



Costs, per cord, $147 G6, or about $18 50 per ton of ore, in currency. 

 Of the above quantity of ore the yield at the usual average rate of 15 ounces 



1 From statements furnislied to the writer by Mr. George T. Clark, treasurer. 



