The Findley Gold Mining Co.
Pages 16-20
author: Findley Gold Mining Company of Georgia
extent: 21 p.
publication place: [New York?]
date: 1878
repository: Chestatee Regional Library System, Lumpkin County Branch
collection: Madeleine K. Anthony Collection
box: III-7
folder: 7
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Page: 16 [view image] 
The side of the hill has been opened upward in ore by a cut, laborers working out the ore by the pick, and breaking it on the spot for the mill.
One workman can break up from ten to fifteen tons of ore a day in this manner, as it is very much disintegrated. At the end of the day water is turned on from the canal extension, and rushing down with great force and volume carries all the rock thus prepared to the mill floor, 320 feet below. The water and light sediments go off at the end of the mill through racks, leaving the ore directly in front of the stamps. The present mill is twenty-four stamps of an old pattern working very coarse screens, with the object of passing as much as possible per day of the very low grade top ores hitherto worked -- namely, seventy to eighty tons a day. The mill is driven by a thirty-three inch turbine wheel, receiving from a dam across the Yahoola River, a seventeen foot head.
The whole expenditure on the mill, turbine and dam has been, I should say, about $15,000. The economic results of working these ores by this method may be summed up as follows; for mining and milling, say seventy-five tons per day, at the time of my visit:
| Five miners in cut at 80 cents | $4 | 00 |
| One foreman in cut at $1 25 | 1 | 25 |
| Six mill men (3 on each shift) at 80 cents | 4 | 80 |
| One mill foreman at $1 50 | 1 | 50 |
| Twelve miner's inches water at 12 cents | 1 | 44 |
| Interests, &c. [et cetera] | 3 | 00 |
| Total | $15 | 99 |
Page: 17 [view image] 
Or making allowance for incidentals, repairs, etc., about $20 per day or twenty-five to thirty cents per ton of ore handled.
These figures I have carefully investigated, and believe them from personal observation to be correct.
Passing everything broken down in the cut, whether good or bad, through the mill, they have for eighteen months made a profit above their expenses. Their object has been to remove as quickly as possible these outer black ores so as to expose the richer "sand vein" at the back to the same method, and this they have been doing not at cost but at profit. What they now wish, is, while continuing the present operations on the black beds, to drive a tunnel at level of stamp mill, and on reaching the sand vein, or any rich "shute" to raise a "stope" on it to the surface, and send out ore so obtained by cars. Having now a shaft and connecting tunnel, they wish to work the beds by levels driven on them from the shaft, and transport the ores so worked out by flooding through the shaft and tunnel to the mill. This plan would necessitate pumping off the water from the ditch to the crest of the hill. They also want to double their stamp mill, to fifty stamps, and possibly, at a later period to place a mill on the other side of the hill to work the ores on that side. I think the enterprise has thus far been a legitimate and carefully conducted one, and that the proposed new operations are judicious and not very costly. In conclusion, I would say, the local repute of the property and the management is excellent.
I am very respectfully,
[Signed] JOHN C. RANDOLPH, Consulting Mining Engineer.
New York,
July 2d, 1878.
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has been organized under the laws of New York, with a Capital of $200,000, divided into 200,000 shares of par the value of one dollar.
In order to develop the property as above suggested, the present owners have contributed 50,000 shares to the treasury of the Company.
The Company now offer 20,000 at the low price of fifty cents a share, the remaining 30,000 to be held as a reserve, which, however, it is confidently believed, will not have to be drawn upon. Should it, however, become necessary to do this, the stock will be sold only at an advanced price and the preference will be given to the then stockholders. As the mine is already in operation and making good returns upon the amount invested, the Company feel assured that with the improvements which they will immediately make, dividends will be earned and paid upon the stock within ninety days or four months.
Page: [19] [view image] 
[ Note: Image of the Findley mine and mill. ]
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