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In these twu lililíes, the New l)iscovery aiul the Little Pittsburg, have been uncovered the most remarkable bodies of silvei ore vet diacovered in tliis whole región. Mr. Tabor, wbx, T believe, bought out hi.s pttrtners, took out of tlie Little Pittsburg and sold in flve or slx months three orfour hundred thousand dollars' worth of ore, and then sold the mineto Messrs. ('haffee and Moffatt lor a large sum of ïnoney. On tlie I8tb of last November the New DiBoovery, Little Pittsburg and two less important mines, the Dives and Winnemuc, were Consolidated under ono management, and althougfa sinre that time the work apon theni has been mailüyln tlie nature of developnient, no more ore having been taken out t'ian was necessary, in diïvng drifts and levéis, and to bring the deposits into sight, these mines have paidtheir ovvners over and above expenses, the cosí of new buildings, maehinery, etc, $100.000 a month. The ore consiste largely of "sand car bonates" colored with oxide oí tron; mul while there is iiregularity in its thickness, it is fouiid over large ateas, riix, eight, ten, and in soine Instances (rom twenty to thirty-üve l'eet through. The mine has been developed for tlie purpose of showing the ore, and where tlie largest deposits are, gangvvays have been cut around them, dividing them into blocks eaeh lifty fóet square em its base. These can be easily nieasured, and by taking trial assays the value of the ore in them -un lie occuratelv ascertained. During tlie visit to Leadville last week of the Xew-Vorkdireetorsof the Little l'ittsburg Company, rcently " ■'. ''■■■ tVssor Kossiter AV. Kaymoiul was einployed to make a careful e.xainiiiation of the mines and report. In bis verbal statement he said the ore that could actually be nieasured and the value of which could be accurately estimated would ntt the company $3,000;000, of which i,50o,ooo is in the Ñew Discovery Mine, and 500,000 in the Little Pittsburg. In addition to this. he said the company is pretty certain to realize $1,000,000 more f rom ore which can b?, only partially seen, and this estímate is made on less than 10 per cent of the whole territory of the company, as contiguous properties on every side are working in rich pay ore. The result of future exploration in these mines no one can teil, but the prospect of linding other large bodies ui' ore not Net uncovered is, to say the least. )iromising. These mines ;ire tobe sold, 1 believe, i four blocks - '4 at $20 per share, on a basis of $4.000.000 lor the whole property; !sj at íí-' per sliare, on a basis iif #5.000.000 t'or the wliole property; remainder on the StoLk Kxchange at niurket ates. The iirst quarter, I underatand, wüs : 1 1 promptly taken iip by the Board oí Directora and a few of their friends within ten days. The second block is niw being rapidly subscribed for at $25 per share, and with the large dividend which thia property is capable of paying trom the start, there will probably be hut little delay in plaelng ;ill the"sto,-k to be sold. The other mines uu Fryer Hil! that are most develoued are the Little Chief, Vulture. Crysolite and Carboniferous, all of which rösemble ihe Little Pittsburg group, thougli in none of them have any such largo bodiea of ore been uncovered. Severa! of these mines, owned by Borden, Tabor & ('o., have put out a large quantity of very ricli ore daring the past week, and all are undoubteuly valuable ijioperties. Tlie mines on Fryet Hill aiv undonbteaiy tne üonanza's of thiS nsanp-, Dut they are bonanzas the valoe of which, as far as they have been e.rplored, can easily be estimated. Fuiuïe iievelopments may inórense or diminish their promise. The Evans Ilills, lying iiorth of Fryer Hill, are the latest to have been prospected, and the discoveries thus far made have not been of such acharacter as to rnake it ]ossible to expresa an intelligent opinión of the value of their mineral deposite. Xumerous shafts are being sunk over there, and tunnels driven, and every day there are reports of rich strikes having been made, but there are no developed mines there as yet. Some of the most experienced and successi'ul men in Leadville have great confldence that rich ore will be found in large, quantities on the Evans Hills, and have invested money in prospect holes there. A few weeks or months will determine their v !(.


Old News
Michigan Argus