years, at the end of which time the mine was in a condition little better than valueless, and the motive power nearly on a par with the subterranean workings. The whole appearance of the property was that of a "present" interest only, and each depart ment of its conduction was but a reflection of the same image, too frequent still, even at this time.

The result of the above operation was the disposition of the property at a mere song, a moiety of its true value, which took place in the latter part of 1854.

At this period a new company came in possession of the entire property by purchase, and commenced the first improvements that partook of the character of permanency in the slightest degree. Their first movement was to place the mine in something like a safe working condition, which required a heavy outlay of capital in addition to the purchase, they being obliged to repair the defects of the workings of previous years. This done, they then commenced the extraction of such ores only as could be removed without subsequent injury resulting to the mine, and secured their excavations, as they proceeded, in a permanent man ner. In the course of these workings, from their directions and the relative position of the older excavations, it became necessary to cut the latter, in order that easy and efficient communication might be had with the reduction works, for the transportation of the material of the lode; and in pursuing this course it was not unfrequently that the old works, as they approached them, would give way, from the total insufficiency of the artificial supports that were placed in them.

Thus, after encountering obstacles of the above character, the company have succeeded in not only placing the mine in a safe and accessible condition, but have also taken from the lode an amount of ore sufficient to meet their outlay in repairs and other improvements, and a handsome profit on the capital invested.

Since its occupancy by the present company a new building has been erected over the mill and wheel, and another for the accommodation of their men employed, which is twenty-six by fif ty-two feet, at an aggregate expense of $3,500. The dead work consists in driving their upper adit one hundred and fifty feet, at an expense of six dollars per foot, and the sinking of the elevenfathom shaft at its termination, at an expense of five dollars per foot, which in their aggregates amount to $1,230 more.

The improvements on the mine for 1856, and which are in course of construction by contract, are one adit of ninety feet, at seven dollars per foot. This adit begins at the north shaft of the old workings and runs diagonally into the hill, and when on the vein will afford a line of level about five hundred feet in length. A new sixty-horse-power engine is in process of erection to replace the dilapidated machinery now in use, and a heavy Chili mill in connection with the former, the whole of which will be driven by a sixty-horse-power.

One hundred and forty-four cords of Fuel at $5 per cord

720

Provisions..

240

Incidentals.

240

$1,850

Average amount of ore reduced per month, 246 tons; aggregate for nine months, 2,221 tons; average value per ton

$21; aggregate receipts, $46,000.

Aggregate deads and improvements....
Average monthly expenses..

Aggregate of expenses.

$1,730

1,850

16,650

Strike, north and south; dip, 68° east; power, nine feet. Ores, pyritous.

PACIFIC MINE, PLACERVILLE, EL DORADO COUNTY.

The ground occupied by the mine of this company was located in 1852, and like many others of that period, had an existence only in the highly elated hopes of those who found the lode. Until 1854 the ground remained unimproved, when the present stockholders, becoming convinced of the value of the lode, commenced operations by opening the vein through shafts and adits, and subsequently by the erection of reduction works during the summer of the year.

The mine was continued in active operation from that time up to the present without intermission, during the period in which water was obtainable, which is their motive power. The absolute running time for the year (ending November, 1855) was nine months and twenty days.

The cash capital invested in the beginning of operations in 1854, was $11,000, about $7,000 of which was expended in the erection of their mill, and the balance in opening the lode and the construction of conveniences to convey their ores to the reduction works.

The amount of work done upon the lode within the year, will perhaps convey a better idea of the activity with which the work has been prosecuted than any other means that could be adopted.

The lode has been opened and is in good workable condition for more than two hundred feet, and at an average depth of nearly sixteen fathoms for the above length below the surface. Near the centre of the lode one thirteen-fathom shaft has been sunk, and is used at the present for bringing the ores from the upper galleries to the surface.

From the west side of the hill an adit has been driven to intersect the lode on a line with the main shaft, and which cuts the lode at twenty fathoms from the surface.

From the entrance of the adit to the reduction works a train road has been carried on the side of the hill, about five hundred feet in length, which is now used for the delivery of all the ores of the mine; this has been constructed during the past year at an outlay of $4,500.

During the month of December the company were engaged in erecting more effective machinery for the purpose of amalgamation, at an expense of about $3,500. This is a judicious movement, as it is most evident that a serious loss of metal has been sustained during the past year's operations.

At the end of the year, terminating the 29th September, 1855, the company had declared six dividends, above all current and incidental expenses, and above original capital investment during the following months. The dividends are on forty-five shares:

The following is the statement of operations at this mine for the past year and its present condition.

Strike, north and south; dip, 58° east; power, 9 feet; dead work, $4,500.

CHARACTERISTICS OF THE LODE.

The lode is situated in talcose slate, the superior portions of both being much decomposed and easily removed. A large amount of the upper portions of the vein contains cavities holding free gold. At the depth of about forty feet the vein becomes more compact and pyritous, having a slight ribbond appearance, from a small quantity of gruphite being distributed through the seams. The rock is thoroughly impregnated with thin, glistening scales of greenish and whitish talc, the latter of ten covering the surfaces of fractures entirely, and the latter containing microscopic particles of gold in considerable quantities; at times the surfaces are well filled with fine spangles of gold visible to the naked eye.

This lode contains lead and molybdenum in small quantities, in the form of sulphurets, at times distinct but most commonly combined in the same mineral. Among the ferruginous sulphurets a small quantity of arsenic is noticeable, but to no considerable extent.

This mine is situated in the corporate limits of the City of Placerville, and immediately south of the centre of the corporation.

EUREKA MINES, SUTTER, AMADOR COUNTY.

Cash capital invested, $32,000. The location of this mine was made in the early part of 1852, since which time it has been actively worked up to the present date. Among the early adventures in gold mining proper, the persons who compose this company were among the first who entered the field of research to develop and demonstrate the feasibility and practicability of this branch of industry in this State.

Their first operations were contemporaneous with the few who launched on this tide of speculation in the County of Nevada, and with others in the Counties of Amador (Calaveras) and Mariposa.

The difficulties encountered by these parties at the outset were such as to dishearten most of mankind, but a cool determination and prudence in the management of their affairs has enabled them ultimately to overcome the multitudinous obstacles that opposed their way, and ride out safely the wild tornado of public opinion that made its inception against them during the latter part of 1852 and the beginning of 1853.

From the early part of the latter year the company progressed steadily in their operations, and in the latter part of that year the following was the condition of their mine:

Near the centre of the lode which forms their property, they had sunk one shaft to the depth of seven fathoms; at the bottom of this shaft a level was carried south one hundred and fortythree feet, and north ninety-five feet, making two hundred and thirty-eight feet of levels at the close of that year.

During this year a heavy and long adit was commenced on the east side of the hill, which was driven through solid rock three hundred and seventy feet, and at an expense of eighteen dollars per foot.

During the year 1854 the main shaft was carried to the depth of sixteen fathoms, and an adit of one hundred feet driven on the west side of the hill, which intersects the main shaft at the depth of seven fathoms, and the upper galleries at the same point. The upper galleries were driven one hundred and fourteen feet further south and seventy-five feet north.

At the bottom of the sixteen-fathom shaft levels were driven north sixty feet and south eighty-five feet, making one hundred and forty-five feet of levels, fifty-four feet shafts and one hundred feet adits, on the lode and west side of the hill during that year; the train-track and adit on the east of the vein having been completed to the length of nine hundred feet during the same period.

At the close of the year ending December 1, 1855, the main shaft had been sunk four fathoms, and a level driven south ninety-four feet and another north to the depth of thirty feet, and the long adit driven to the depth of five hundred and thirty-five feet below the surface; at this depth the vein carries a power of twelve feet.

Prior to 1855 a portion of the lode only had been taken out, from the meagre character it presented-seven or eight feet being the maximum of the strength of the lode used for mill-work. But since the commencement of 1855 that position of the vein formerly rejected has, at the depth of one hundred and thirty-two feet, assumed sufficient value to warrant its extraction, and the result is, an increase of one-third more ore in the same depth opened.

The ores now taken from the mine are one hundred and twelve feet below the water line.

During the months of January and February the Directors declared three dividends of one hundred dollars per share. The mine is free from debt.

The limited capacity of the reduction works, and the increase in the power of the lode, bear little relation to each other; and the company, in place of stopping their present battery to erect one of greater power, purchased during the past year an adjoin