Digital Library of Georgia > "Thar's Gold in Them Thar Hills": Gold and Gold Mining in Georgia, 1830s-1940s

Announcement of the Dahlonega Consolidated Gold Mining Company, Dahlonega, Ga.
Pages 21-28

Author: Dahlonega Consolidated Gold Mining Company
Extent: 1 v. (64 p.)
publisher: Crandall-Bradt Printing Co.
publication place: Chattanooga
date: 1899
Repository: Lake Blackshear Public Library System
repository: Chestatee Regional Library System, Lumpkin County Branch
collection: Madeleine K. Anthony Collection
box: III-6
folder: 7
More information: About the Digitized Version

Note: You may view the entire prospectus in one file (102kb) for searching. Use your browser's Edit/Find function to search.

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A few comparisons will best illustrate the Company's expectancy of profit.


In South Dakota are capitalized at $12,500,000. From June 1, 1897, to May 1, 1898, 400 stamps were run continuously, with 140 stamps added in May. The earnings were: Ore mined and milled, 548,390 tons.
Bullion recovered    $2,505,070 00
Expense: Coal $157,17424  
 Wood 61,457 50  
 Water 109,500 00  
 Labor 735,480 92  
 Sundries 216,619 81 
    1,280,032 47
Gross profit    $1,225,037 53

Disbursed as follows:
Deadwork and general improvements $185,529 95
Lumber for new buildings, etc. [et cetera]17,751 88
New machinery 105,623 24
Purchases of additional land 117,529 95
Dividends to stockholders and surplus in treas'y [treasury]798,602 51
 $1,225,037 53

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Dividends January 1, '98, to September 26, '98, $448,500. Total dividends since organization in 1878, $6,993,750. Average value of ore per ton, $4.58. It contains 3 to 5 per cent [percent]. of sulphides [sulfides] valued at $5 to $8 per ton. Coal, wood and water per ton of ore treated, $0.596; labor $1.159. Total cost per ton $1.755. Average labor rate, $3 per day.


In Alaska, is capitalized at $1,000,000. The workings are 110 to 917 feet deep; average value of ore, $2.31 per ton; of concentrates, $31.18. Cost of mining and milling with water power, $1.47 per ton. Average labor rate, $3 per day. Thirty per cent [percent]. of the ore value is in the sulphides [sulfides].

Dividends January 1, '98, to September 20, '98, $72,000. Total dividends since organization, $321,381.

Earnings of the mill for July and August '98, were:

July -- Ore mined and milled, 13,627 tons; gold recovered, $32,368, an average of $2.38 per ton. Cost of mining and milling, $19,996, $1.47 per ton. Net earnings, $12,367.

August -- Ore mined and milled, 13,837 tons; gold recovered, $29,872, an average of $2.16 per ton. Cost of mining and milling, $19,642, or $1.42 per ton. Net earnings, $10,230.


At Douglass Islands, Alaska, is capitalized at $5,000,000. Depth of principal workings, 220 feet. Value of ore per ton, $2.3165. For the year ending May 31, '98, 254,329 tons of ore were mined and milled, at a cost of $0.5949 for mining, $0.3708 for milling, $0.109 for chlorinating sulphurets [sulfurets], $0.2129 for supplies; total cost per ton, $1.2031. Bullion recovered, $589,149. Profits from store, $29,909. Average labor rate, $2.50 per day and board. Value of concentrates, $44.33 per ton. 240 stamps in operation, with 300 more to be added at once. Dividends January 1 to August 20, '98, $300,000. Total dividends since organization, $3,625,000.

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In South Dakota are capitalized at $5,000,000. Average value of ore $1.60 per ton, mined and milled at a cost of 44 c. [cents] per ton for wood, water and coal, and $3. per day for labor. Dividends Jan. 1st to Aug. 20th '98, $30,000. Total dividends since organization $1,350,000.


At Mercur, Utah, is capitalized at $5,000,000. Ore mined and milled in 1897, 87,413 8/10 tons. Bullion recovered, $487,033.66 -- $5.57 per ton. The ore was hauled 11 miles to mill and was treated at total expense of $2.575 per ton, 35 c. [cents] of which was for hauling. Net profit, $261,815.13. Dividends for the year, $311,000. Dividends January 1 to December 1, '98, $355,000. Total dividends since organization, $1,241,000.


At Bendigo, Victoria, Australia, is worked in $4 ore at a depth of 1800 feet. The cost of mining and milling is $3.22 per ton, and yet the 78 c. [cents] margin of profit provides for a substantial dividend to stockholders.

Better Opportunities.

These quotations from the official reports of successful gold mining companies sufficiently demonstrate the soundness of investments in the business of gold mining In each instance cited the conditions are unfavorable; fuel, water and labor costly, and in two cases the climate well-nigh prohibitory. The reverse of these conditions prevails upon the property of the Dahlonega Consolidated Gold Mining Company. The ore supply in sight, accessible above water level, is sufficient for years to come; its values -- as will be presently shown -- are higher than those given above; water

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and water-power [waterpower] are abundant and free of cost; the climate is mild and equable, and the labor rate is so low that in this single item the Homestake Mines, if operated at Dahlonega, would have effected a saving of $490,320.62 during the year ending June 1, 1898. Or, if the cost of wood, water and coal be taken into consideration, the total saving would have been $803,452.36, an amount nearly equal to the total income of the Homestake properties for the year cited.

Apart from the favorable economical conditions, the ore values of the Dahlonega Consolidated Gold Mining Company's properties are considerably in excess of those given in the examples above quoted.
Homestake Mines$458perton.
New Chum400perton.

DAHLONEGA, average of all tests (excluding special samples) by workings now in operation:
Hand Mine629perton.
Yahoola Mine1141perton.
Findley Mine485perton.
Lawrence Vein2190perton.
Barlow Mine2370perton.

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Dam Across the Yahoola River.

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It is proposed to enlarge and improve the various plants on the Company's property as follows: To increase the number of stamps on the Findley from 40 to 100; to erect a new 100-stamp mill upon the Hand and Yahoola; to consolidate the two 10-stamp mills on the Barlow into one of 20 stamps; to equip all of these plants with concentrating apparatus; and to erect on the Hand property a chlorinating plant for the treatment of concentrates from all the workings.

With these improvements completed, the subjoined is an exceedingly conservative estimate of the earnings of the Company: FINDLEY MILL : -- 100 stamps: --
Capacity per day, 200 tons; average value of ore, say $3 per ton$60000
Cost of mining and milling, $1 per ton 20000
Net income per day$400 00

HAND AND YAHOOLA MILL : -- 100 stamps:
Capacity per day, 200 tons; average value of ore, say $5 per ton$1,00000
Cost of mining and milling, $1.2525000
Net income per day 75000

LAWRENCE MILL : -- 10 stamps: --
Capacity per day 20 tons; average value of ore, say, $6. per ton$120.00
Cost of mining and milling $2.50 per ton50.00
Net income per day $70.00

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BARLOW MILL : -- 20 stamps: --
Capacity per day, 40 tons; average value of ore, say $6 per ton $24000
Cost of mining and milling, $2 per ton8000
Net income per day$16000

Sale of 500 miners' inches surplus per day at 8 c. [cents]$4000
Merchandizing and other sources5000
Net income per day $9000
Total net income per day$1,51000
Total net income per annum, 300 days $453,00000

In making this estimate the ore values have been divided by a generous factor of safety, as will be seen. The Company's plan is to operate the property upon the most conservative basis, making the enterprise strictly an industrial one; and with this end in view the statements herein made have been kept well within the boundaries of fact. Dahlonega is easy of access; the journey thereto can be made at slight expense; and intending investors are cordially invited to come and see for themselves.

The policy of the Company is to pay monthly dividends to its stockholders as often as the funds in the treasury will allow, after first providing for operating expenses and such improvements as may be deemed to be the best interests of the Company.

Note: You may view the entire prospectus in one file (102kb) for searching. Use your browser's Edit/Find function to search.

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