BANCROFT LIBRARY BANCROFT LIBRARY THE LIBRARY OF THE UNIVERSITY OF CALIFORNIA PROSPECTUS OF THE NEVADA SILVER MINING COMPANY CHURCHILL COUNTY, ORGANIZED UNDER A SPECIAL CHARTER FROM THE STATE OF PENNSYLVANIA. PHILADELPHIA: J. B. CHANDLER, PRINTER, 306 & 308 CHESTNUT STREET, (GIRARD BUILDING.) 1865. PROSPECTUS OP THE NEVADA SILVER MINING COMPANY, ' CHURCHILL COUNTY, ORGANIZED UNDER A SPECIAL CHARTER FROM THE STATE OF PENNSYLVANIA. PHILADELPHIA: J. B. CHANDLER, PRINTER, 306 & 308 CHESTNUT STREET, (GIRARD BUILDING.) 1865. MOUNTAIN WELLS DISTRICT, (HUM HILL CO,, NEVADA, ORGANIZED UNDER A SPECIAL CHARTER FROM THE STATE Oi 1 PENN- SYLVANIA. Capital, - - - - $ 300,000 SO 0,0 CO PRESIDENT, JAMES ROSS SNOWDEN. SECRETARY & TREASURER, GEO. W, BROWN* Office of the Company, 323 Walnut Street, Philadelphia, Pa. BOARD OF DIRECTORS, GEO. L. OLIVER, JAMES ROSS SNOWDEN, A. H. DENCKLA, A. R. POTTS, H. R. LTNDERMAN. SUPERINTENDENT AT THE MINE, GEO. F. GEISSE. STOCK NOT ASSESSABLE. BANKERS, - - - E. W. CLARK & CO., Third Street. . COUNSEL, - FURMAN SHEPPARD, No. 419 Walnut Street. GENERAL AGENTS FOR SALE OF SHARES, BROWN & DEVEREAUX. - 323 Walnut Street, Philadelphia. t CHUKCHILL COUNTY, NEVADA. The Nevada Silver Mining Company is organized under a special Charter granted by the State of Pennsylvania, at its last winter session. The object is the development of certain veins of argentiferous min- erals, located in Churchill County, Nevada, in what is known as the Mountain Wells District. The value of these veins has been carefully examined and inquired into a geologist having been sent from this city for that specific purpose. From his report, which is herewith ap- pended, it will be seen that the claims have been wisely selected and offer every inducement as a basis for mining operations. At the time of the examination of the property it was the intention of those interested to style the Company, the " Grey Eagle Silver Mining," but further inquiry developing the fact that the name had been appropriated, it was deemed advisable to change the same, which was accordingly done, and which will account for the use of the origi- nal title in the report of the examination. An attentive perusal of the accompanying report and certificate of assay of rock from the " Grey Eagle lode," is respectfully invited. The Company have commenced a vigorous development of their property, under the management of thoroughly competent and practi- cal mining men, and they expect, before many months, to secure such results from their operations as will convince all of the undoubted rich- ness and value of the lodes owned by the Nevada Silver Mining Com- pany. Messrs. Brown & Devereaux, No. 323 Walnut Street, are the Gene- ral Agents for the sale of the Shares of the Company, where all infor- mation, etc., will be furnished. The following, extracted from the report of Professor C. P. Williams, will make evident that the value of the four ledges are established be- yond question. With regard to the other five veins it may be well to state, that the tenor of Prof. Williams' report, is to the effect that while their value is not established, they are well worthy of examination, and that by their exploration, additional mining ground may be given as a field of labor for the Company. Laboratory, No. 138 Walnut Street, | Philadelphia, April 15th, 1865. j TO THE COM. "GREY EAGLE MINING COMPANY." GENTLEMEN : In compliance with your instructions, I have visited the property of the GREY EAGLE SILVER MINING COMPANY, and have the honor herewith to trans- mit the final report of my examination of the same. In order that comparisons may be made between the district in which your property is located and other, older and better developed districts, these latter were also visited and studied, and it, is hoped the result of such research may prove as useful as a guide to your future operations, as it has been to me in the formation of an opinion of the value of the Grey Eagle claims. Very respectfully, yours, CHARLES P. WILLIAMS, Chemist and Mining Geologist. REPORT. The claims of the Grey Eagle Company are located in the Mountain Wells District, Churchill Co., Nevada, about eighty miles east-north-east of Virginia City, and on the line of the Overland Mail Stage Company, by the coaches of which they are approached and reached after twenty hours travel. The country traversed in the journey from Virginia to Mountain Wells has the general character of a desert, seldom visited by rain and devoid of vegetation, save a stunted growth of aromatic shrubs, locally called "sage brush." On these plains deposits of common salt are not of unfrequent occurrence, furnishing an indispensable adjunct in the development of the mines of the various regions, by supplying an important agent in the metal- lurgical treatment of silver ores. The Mountain Wells District is a new and undeveloped one, its discovery not dating back more than one year. As in the history of all other new mining districts of the Pacific Coast, the pioneers were men possessed of but little capital, no work more than that of exploration has been done on the several veins already discoveied in the district, but in many cases their bold outcropping edges, in connection with the trial shafts and exploring trenches and pits, furnish data sufficiently exact to permit of the formation of an opinion with regard to the induce- ments they offer for beginning mining operations on them. It will be seen below that my opinions on most of your veins are expressed with a strong degree of positiveness, the result of the natural facilities furnished by the district for the examination of its veins and of comparisons of the phenomena there noted with those of the mineral deposits of the Virginia, Reese River and Humboldt Districts. The rocks of the region are highly metamorphosed, silicious. 8 argillaceous and calcareous sediments, (such as quartzites, clay slates or argillites, gneiss and blue argillaceous limestones,) with intrusions of granite, porphyry and trap, the formation being grouped into a series of parallel hills, and having a general trend of nearly N. N. E. and S. S. W. (magnetic.) These rocks are broken by two series of fractures which have become the receptacles of silver and copper bearing minerals, giving rise to two distinct systems of true fissure veins, the oldest of which has a general N. W. and S. E. bearing, and the more recent striking 1ST. E. and S. W., intersecting the first system and producing the phenomena usually observable in such cases. In the members of both series the vein matter is a quartz with some manganese spar, through which there are distributed, some- times in irregular masses, but more frequently in combs, various argentiferous minerals, such as polybasite, (containing when pure 65 per cent, silver) ; silver fahlerz, (containing from 17 to 30 per cent, silver, and from J4 to 25 per cent, copper, besides sulphur, antimony and iron, and sometimes zinc and lead) ; and sternbergite (with 30 to 33 per cent, silver). From the surface for some distance, these ores have become metamorphosed through aqueous agencies, and the various metals have entered into new forms of .chemical combination. In this superficial zone of decomposition the copper usually occurs as the green and blue carbonates, (which impart those tints to the white quartzose vein-stone) ; the iron exists in a hydrated sesquioxide (gossan), whilst most of the silver occurs as a chloride. In the Mountain Wells District I had, of course, no opportunity of ascertaining the extent in depth of this zone of decomposed mineral, but in the Reese River District, where mining has been longer prosecuted, and where the phenomena of the veins are strikingly analagous to, if not absolutely identically with those of the lodes of the district under consideration, I found it to extend downward about ninety feet, measured on the inclination of the vein, whilst below this the unaffected ores (always sulphides) 9 occur. In the Humboldt District the secondary products occur to a somewhat greater depth. In most instances the veins have well defined walls, often striated and polished, and separated from the vein matter by clayey selvages or flucans. Where the wall rock is feldspathic in its composition (as in the granite and gneiss,) they are soft and much decomposed in the vicinity of the veins, greatly facili- tating the exploitation of the deposits. With regard to the vein specially, I copy from my field notes, premising, however, that the specimens collected and accom- panying this report, were taken with a view of representing the average of the veins in sight, as in the exploring trenches and at various points along their out-cropping edges. GRAY AND GEISSE VEIN. Course N. 15 W S. 15 E.; dip north-easterly 80; width ranging between eighteen and thirty inches ; ore intimately mixed with vein-stone; walls consist of a soft and somewhat decomposed quartzose granite, and are well defined, especially the foot-wall, which is separated from the vein matter by a thin selvage of white clay. Intersecting this vein near the S. E, end of the 800 feet be- longing to the "Gray Eagle Company," are three remarkably well defined but small veins, which, like the "Gray and Geisse" itself, are unmistakably fissure veins with a N. E. S. W. course, which are posterior in formation to the main vein, and which show at their outcrops some mineral. N. E. on their course they have been prospected with a very good show of ore. According to the Mining Laws of the District, a claim includes a width of 200 feet on each side of the vein or "ledge." Your Company will own 400 feet on each side of these cross-veins, which will make with the main veins 2000 feet, which can be advantageously worked by means of a tunnel on the "Gray and Geisse," which will debouche but a few feet, (not more than thirty feet) from a broad canon or gulch, with a most excellent 10 natural road bed. The maximum back on this adit will be about 200 feet. The character and distribution of the "Gray and Geisse" makes me class it as "positively good," believing it can be very profitably mined. An assay of the sampled ore gave .96 per cent, silver, or at the rate of 280 oz. per ton of 2000 pounds. Value of the same, $376. "DENCKLA" VEIN. Course E. S. E., and W. N. W.; dip S. W. 70; average of five measurements of vein at out-crop and in the opening, is eighteen inches in width ; vein-stone quartz, containing in addi- tion to the usual ores, (above described,) some copper pyrites. To the north of this vein and within a distance of eighty feet, are two well marked and bold veins dipping rapidly towards the "Denckla." These veins will, in all probability, intersect a fourth vein about twenty-five feet south of the " Denckla," which stands at a high angle. The ore analyzed in my labora- tory gave 1.03 per cent, silver, equivalent to 300 oz 10 dwt. per 2000 pounds, or in value to $403.42. This vein is marked in my note book, "positively good." "GREY EAGLE." 500 feet distant from the above and with the same course. Dip N. 60 ; vein exppsed by a shaft thirty-seven feet deep ; average width of ledge eleven inches, and well charged with ore. For about twelve feet from the surface, the wall rock is black, metamorphosed clay-slate, with seams of quartz and ore running into the main vein. This slate rests upon an intrusion of granite, somewhat porphyritic in structure, which has, in the shaft, a thickness of twenty feet. In this, the vein is pinched into a mere seam, but in the clay slate which again underlays the granite, it rapidly widens out and encloses a close grained quartz, intimately mixed with ore The result of an assay of the vein matter from the Grey Eagle was 1.38 per cent, silver, or 402 11 oz. 19 dwt. per 2000 pounds ore, equal in value to $540.90. The vein is classed as positively good. The space between the "Denckla" and "Grey Eagle" is 500 feet, of which 400 belongs to the two veins. It would be policy for the Company to locate the intermediate 100 feet, which can easily be done, so that a mining tract of 900 by 800 feet can be obtained, (200 feet on one side of the "Grey Eagle" and 500 feet between the "Grey Eagle" and "Denckla" + 200 feet on the other side of the Denckla,) and with a length of 800 feet on each side of five well marked fissure veins. "HOPE." This vein is not included in the list, but has been added to the property in compensation for some of those not so favorably regarded. Course N. 45 W., S. 45 E. ; dip vertical ; width from 17 inches to 4J feet ; wall of black argillaceous slate, with plainly marked selvages and polished surfaces (slickensides). The following rough sketch will represent the structure of this vein : A A A, Selvage or flucan of white clay. B, Bluish white quartz, fine grained, compact and without mineral. C, Ore-bearing comb, white quartz, vuggy and crystalline, with per centage of ore, 11 in. wide. D, Brecciated white comb quartz and wall rock, with copper pyrites and decomposed ore in small quanti- ties. W, Wall of black argillite. An ex- cellent vein; classified as "Posi- tively G-ood" Yield of the ore, 256 oz. 16 dwt. per ton. Value Transverse section of Hope Ledge, tonAAav showing the comby structure of vein. 01 the Same, $o44.O I . 12 Disregarding the other veins, and considering only those the value of which have been positively pronounced upon, we may recapitulate as follows : Value of Grey Eagle ore per ton, " " Grey and Geisse " " " Denckla ore " " " Hope ore " $540 90 376 00 403 42 344 67 These results of carefully conducted analysis of the run of the veins as yet opened and exposed, will give as the average of the productive veins a value of $416.25 per 2,000 Ibs. of ore. Now, what will be the expenses attendant on the mining and reduction of the same amount of mineral ? In the consideration of this important question, we will confine ourselves to data collected in the Reese River District, (80 miles further eastward,) where the conditions of occurrence of the ore are most nearly approached to the Mountain Wells District, and where the circumstances modifying results in the mill are very closely analogous. It must, however, be remembered that the distance from Virginia to La Plata being only about half as great as from Virginia to Austin, the costs of transportation will in reality be much less. But it will not be unwise in such econo- mical questions to consider the maximum of expense. On the basis that the ores assayed represent what will be found to obtain in the veins, (and such is confidently believed to be the case,) the following will exhibit the value per running fathom of the four valuable veins, calculated on the observed average width of the same : Tons of pro- NAME OF VEIN. AT. width. ductive rock per fathom Value of rock per ton. Value of Vein per fathom. of vein Grey and Geisse, 20 in. 5.5 $376.00 $2,072 95 Denckla, - 18 in. 5 403.42 2,017.10 Grey Eagle, 11 in. 8 54090 1,622.70 Hope, .... 30 in. 8 34467 2,757.36 13 But in mining these deposits dead ground will necessarily be removed; so that the expenses of mining must be calculated to a cubic fathom, containing about 20 tons. These will amount in the aggregate to $400, inclusive of timbering and transportation to the mill, to which must be added the cost of the metallurgical treatment of the ores. But in a cubic fathom of ground mined a certain per centage alone, contains ore, and this only is treated in the reduction work. I have found the cost for the roasting process below described to be $27 per ton, so that below we have the expense of treating the ore contained in one cubic fathom of ground, mined from the several veins : NAME OF VEIN. Per-centage of ore- bearing ground. Cost of reduction of ore from one cubic fathom of ground mined. Grey and Geisse, - Denckla, Grey Eagle, - Hope, 28.5 per cent 25 per cent. 19 per cent. 42 per cent. $148.50 135.00 8100 216.00 The average of which is $145.12, which will represent the cost of treatment of a cubic fathom of ground mined, and the ac- count will stand thus : Mining one cubic fathom of ground, - - $400 00 Reduction of ore in one cubic fathom of ground, - 145 00 To which add loss in process of extraction, say 20 per cent, the contained silver, - 423 50 Total expense per fathom, Whilst the average value of the same is - $968 53 - $2,117 53 The details of the process of silver extraction, of which the above is the cost, consist in dry crushing the ore sufficiently fine to allow it to pass through a No. 60 sieve ; subsequently roasting it with salt in a reverberatory furnace and amalgamating the resulting chloridized ore in iron pans either Hepburn's or 14 Wheeler's. A stamp weighing 650 Ibs., capable of wet crushing, when run with a velocity of 60 blows per minute, one ton of ore per twenty-four hours, will dry pulverize to a sufficient degree of fineness in the same time, about seven-tenths of a ton. This will require, on the average, some 7 per cent, salt, (worth in Reese River $20 per ton,) and will constitute two charges for a furnace requiring each about seven hours for a thorough chlori- dizing roasting. A ten stamp will require six furnaces and six pans and is capable of working 7 tons of ore. The cost of put- ting a mill of this capacity in operation will be about $55,000. Labor is worth from three to four dollars per day , wood, six dollars per cord. These figures of value and expense are all to be understood as being on gold basis. The wood ranche belonging to the Company is within two and half miles of the La Plata, and comprises four hundred and sixty- five acres of land, clothed with a species of scrub-cedar and juni- per. The amount of cord-wood I have estimated at about fifteen cords to the acre. Wood can now be contracted for in the Mountain Wells District for five dollars per cord. This will be about the ruling price for some years to come, so that an ade- quate supply for milling and mining purposes can be obtained at not greater cost. Ultimately, and more especially if exploit- ation is vigorously conducted in the region the price will be much greater, unless some cheaper mode of transportation be completed. After nearly five years of vigorous work in the Virginia District, the price per cord of wood has reached eighteen dollars. Water in sufficient quantities for all boiler and milling pur- poses can be obtained near any desirable mill site, either from abundant and persistent springs, or from wells sunk to a depth in no instance greater than twenty (20) feet. The canons or gulches separating the mountain ridges or hills of the District, are generally broad with easily ascending grades, with excellent natural road-beds, requiring nothing more than the removal of the sage-brush and the larger boulders. 15 An excellent mill-site can be procured at once without addi- tional expense to the Company, near the southern end of La Plata, the access to which from all the production veins will be over a descending grade. The distance in no case will be over two miles. In this report I have stated the phenomena and surroundings, upon which I have based my high opinion of the property. In my judgment they are sufficiently marked to warrant the con- clusion that the Grey Eagle property is one that can be advan- tageously and profitably mined, and as such, I have no hesitation in recommending it to your attention. The premises have been stated at some length, that you may see that the conclusions are not forced, and, if the report is somewhat prolix, it is not un- necessarily so, but has been so written that the features of the mineral deposits of the Mountain Wells District, and the ques- tion of its economical exploitation may be clearly, fairly and disinterestedly brought before your minds, that your future operations may be guided by them. With the hope that you will so view it, and in the confident belief, that should you venture on the development of the Grey Eagle Company, your results will be eminently satisfactory to yourselves and associates. I remain, Your very obedient servant, CHARLES P. WILLIAMS, Chemist and Mining Geologist. To COMMITTEE GREY EAGLE COMPANY. Mint of the United States, ) Philadelphia, June 26M, 1865. ) JAMES ROSS SNOWDEN, Esq. DEAR SIK: I would have replied sooner to your request, but was desirous to make a satisfactory examination, and have also been delayed by necessary business. I divided the specimens into two classes ; of which, those I return, marked No. 1 and 2, are the representatives. No. 1, shows a blackish mineral, very complex and heterogeneous in its con- stituents ; the silver for instance being more abundant in one section than in another close by, and of like color. But taking one with another (of this dark sort,) I found the contents of silver to be at the rate of fourteen hundred and eighty-five dollars, ($1485,) per ton of 2,000 Ibs. The other variety, whitish quartz chiefly, I found to contain silver, one hun- dred and four dollars, ($104,) per ton. Yours, truly, J. R. ECKPELDT. 17 The Hon. George W. Stein, of Easton, Pennsylvania, President of the " Silver Wave Company," was sent out by that organization to examine their claims in the Mountain Wells District. The following is extracted from his letters to the Company. " La Plata is the county seat of Churchill county The climate is delightful, atmosphere pure, bracing and wholesome, and, as our pros- pectus foreshadows, "so healthful that epidemics are unknown." The situation is far preferable to Virginia. It is located in the shelter of a canon, or rather, two, and with little expense can be made an eligi- ble place for a large city. The town at present contains but a sparse population, although we have a court-house, two hotels, viz., Warren House and the La Plata Hotel and Pioneer Saloon, affording accom- modations to all who may visit the place, provided the number is not too great, as I trust it may be in a short time to come. The buildings are not very capacious, and do not present a remarkable appearance in an architectural point of view; nevertheless the initiative has been taken, and ere long this city may perhaps be able to boast of as fine buildings as are at present to be seen at Virginia or elsewhere. The water, although not very abundant as yet, owing mainly to the fact that no particular effort has been made to procure it, yet within the limits of our place we have three springs, which will not only furnish water enough for a ten-stamp mill, with an abundant supply left to accommodate not only the citizens of this place, but also the neighbor- hood for many miles distant. In fact, teams come here almost daily from a distance, to procure water for remote places, and the Overland Stage Company is compelled to haul water from here to Fairview Sta- tion, a distance of 7& miles, for their use. It must be taken into con- sideration that the district is not thickly populated, but I entertain the opinion that water enough can be found here to supply many mills and a large population. A few young men are engaged in running a tunnel in the heart of this place, and informed me that they had found a large spring, which interfered materially with their operations. Na- ture provides for all these deficiencies. In this connection, I will add that salt, which is so necessary in beneficiating silver ores, is found in large bodies. A gentleman from Silver Hill, who was bred in my neighborhood in Pennsylvania, owns a large bed 25 miles from this place, agreed to execute a lease by which he will bind himself to fur- 2 ' 18 nish the Silver Wave Company with salt, in all time to come, gratis, provided they erect the first mill here. Wood for steam and other purposes can be procured from our land in sufficient quantities to sup- ply one hundred stamps for many years to come, although I do not wish to convey the idea that it can be used as timber in erecting the mill ; it is principally mountain cedar, and well adapted for generating steam. It is adjacent to the mill, and easily cut; the roads being in good condition, and down grade, the expense and labor for hauling will not be excessive. Building materials are found here in great abun- dance, such as stones, clay out of which good brick can be manufac- tured ; lime can be procured, but clay is found here, which, by mixing with water, produces good mortar. Lime can be had within a limited distance, and although the experiment has not been made, I am in- clined to think it can be manufactured here. The marble quarry is situated a short distance from the Silver Wave ledge, and presents a very good appearance. It is easily quarried, and can be made availa- ble in the construction of the mill. Laborers can be procured without much trouble. The price of ordinary laborers will be $4 ; but, in the opinion of most operators here, the tendency is downwards, and before the season fairly commences, they may be reduced to $3." ARTICLE I. The office of the Company shall be located in the City of Philadelphia, where all meetings of Directors and Stockholders for the transaction of the business of the Company shall be held. ARTICLE II. MEETINGS OF STOCKHOLDERS. SECTION 1. A meeting of the Stockholders shall be held an- nually on the last Tuesday in April, for the election of Directors and the transaction of other business relating to the affairs of the Company. At least fifteen days notice shall be given of the said meeting and of all special meetings, by advertisement in one or more daily newspapers published in the City of Phila- delphia. Special meetings may be called by the Board of Di- rectors at their discretion ; and it shall be the duty of the Pre- sident of the Board to call special meetings on the written request of the owners of one-fourth of the capital stock of the Company, the said request to specify the object and purpose of said meeting. Any special meeting as aforesaid may be adjourned to a future day, but no new matter not specified in the request shall be introduced or considered at any special or adjourned meeting, except by the unanimous consent of all the Stockholders present or represented : Provided, That if from any cause no election of officers be held at the annual meeting of the Stock- 20 holders, the said election may be held at a subsequent meeting, on complying with the requirements herein directed. SEC. 2. At all elections and business meetings of the Stock- holders, each share of stock on which all instalments called in by the Directors, and due, shall have been paid, and not other- wise, shall be entitled to one vote, and may be voted by the holder in person or by proxy ; but all proxies shall be filed with the Secretary at or previous to the time of meeting, and those dated more than four months previous to the meeting, shall be rejected. At all meetings, and on any question, whenever* the same shall be demanded by any Stockholder, the vote shall be by shares ; and in such cases all decisions shall be by a majority of shares present or represented. Five members actually present, representing not less than one-fourth part of the capital stock, shall constitute a quorum for the transaction of business. ARTICLE III. OFFICERS OF THE COMPANY. The officers of the Company shall consist of a President, a Secretary, a Treasurer, and a Board of Five Directors, of whom the President shall be one ; and shall hold their offices until their successors shall have been elected in accordance with these By- Laws. And the Board of Directors may fix such compensation or salaries as they may determine. In the absence of any officer, the Board may appoint one to act pro tern, during such absence. ARTICLE IV. DUTIES OF DIRECTORS. The Directors shall be elected by ballot, for one year, and until their successors shall have been elected , and they shall have power to fill vacancies that may occur in their Board. They shall have the management and control of the affairs of the 21 Company, and shall carry into effect all such resolutions as may from time to time be lawfully adopted by the Stockholders. They shall adopt and provide a common or corporate seal, and shall have power to carry on all such operations and do all such things on behalf of the Company as are authorized by the Act of Incorporation. They shall have power to appoint and employ such and as many Agents as in their judgment the interest or business of the Company may from time to time require, to fix their com- pensation and define their duties. At every annual meeting of the Stockholders they shall pre- sent a written report, showing in detail the situation of the pro- perty and financial affairs of the Company, and they shall also render a similar report at any special meeting of the Stock- holders, when requested. They shall hold stated meetings once a month, and special meetings whenever the business of the Company shall require. Special meetings shall be called by the Secretary whenever instructed so to do by the President or two or more Directors. A majority of the Board shall constitute a quorum for the transaction of business. ARTICLE V. ELECTION OF SECRETARY AND TREASURER. The Secretary and Treasurer shall be elected by the Board of Directors, by ballot, and may be one and the same person or otherwise, as the Board may determine, and shall hold his or their office during the pleasure of the Board of Directors. The Treasurer's election shall not be considered valid or com- plete until he has executed to the Company a bond or bonds in such sums and with such surety as the Board may deem ade- quate, conditioned for the faithful performance of the duties of his trust. 22 ARTICLE VI. DUTIES OF PRESIDENT. The President shall be elected by the Board of Directors, and shall preside at all meetings, both of the Stockholders and Di- rectors, sign all certificates of stock, and in general, perform the duties of such corporate office. ARTICLE VII. DUTIES OF SECRETARY. It shall be the duty of the Secretary to prepare and keep proper books, and particularly a stock ledger, transfer book, and a record book of the proceedings, as well of the meetings of Stockholders as of the Directors ; to preserve all papers placed in his charge ; to give notice of all meetings of the Corporation, and perform such other duties as the Directors may prescribe. ARTICLE VIII. DUTIES OF TREASURER. The Treasurer shall collect and disburse all moneys, under such instructions as the Directors may impose, and shall keep proper books of accounts. He shall also render a full and par- ticular statement of his cash account, accompanied with vouchers whenever the Board may require it, and at every annual meeting of the Company, showing the condition of its financial affairs ; and a similar account at any special meeting of the Stockholders, when required by a vote thereof so to do, and shall sign all cer- tificates of stock in conjunction with the President. ARTICLE IX. CERTIFICATES OF STOCK. The Certificates of Stock shall be issued under the seal of the Company, and shall be numbered and registered as they are issued ; they shall exhibit the holder's name, and the number of shares, arid the mode of transfer, and shall be signed by the 23 President and countersigned by the Treasurer. Transfers of stock shall only be made on the books of the Company, in the presence of the Secretary or other authorized officer or agent of the Company, either by the holder in person or by attorney ; and the possession of a certificate of stock shall not be regarded as vesting any ownership in the same, in any other than the person in whose name it is issued, (as between the Company and such holder,) until the transfer is duly made upon the books of the Company as aforesaid. ARTICLE X. INSTALMENTS. The Directors may call in subscriptions to the capital stock of said Corporation by instalments, in such portions and at such times and places as they shall think proper, by giving notice thereof for ten days, in one or more newspapers published in the city of Philadelphia, or by personal notice through the post office ; and in case any Stockholder shall neglect or refuse pay- ment of any such instalment for the space of thirty days after the same shall have become due and payable, and after he shall have been notified thereof, the stock of such delinquent Stock- holder may be sold by the Directors, at public auction, at the office of the Corporation, on giving at least thirty days notice thereof in some newspaper published in the said city ; and the proceeds of sale shall be first applied in payment of the instal- ment called for and the expenses on the same, and the balance, if any, shall be paid over to the said delinquent ; and such sale shall entitle the purchaser to all the rights of a Stockholder to the extent of the shares so bought. ARTICLE XL DIVIDENDS. The Directors may declare dividends payable out of the profits of the Company, whenever they shall deem it expedient, giving due notice to the Stockholders. 24 ARTICLE XII. AMENDMENTS. The foregoing By-Laws, or any part of them, may be repealed, altered or amended, at any annual or special meeting of the Stockholders, by a vote of the majority of the stock represented at such meeting, provided a majority of the whole stock is rep- resented, and that thirty days notice of the proposed change has been transmitted to each Stockholder by mail. AJST ACT TO INCORPORATE THE NEVADA SILVER MINING COMPANY. SECTION 1. Be it enacted by the Senate and House of Repre- sentatives of the Commonwealth of Pennsylvania in G-eneral Assembly met, and it is hereby enacted by the authority of the same, That William L. Nutt, Charles Coffman, Lewis Snell, Edward J. McTague and George Baldt, and their associates, be and they are hereby created a body politic, by the name, style and title of the Nevada Silver Mining Company, and by such name and title shall have perpetual succession, and shall be capable of suing and being sued, impleading and being impleaded, and of granting and of receiving in its corporate name, property real, personal and mixed, and of holding and improving lands in the State of Nevada, and to obtain therefrom any and all minerals and other valuable substances, whether by working, or mining, or leasing, or disposing of privileges to work or mine such lands, or any part thereof, and to erect houses and such other buildings and works, as may in the opinion of the mana- gers of the corporation, appertain to said business, and to use, let, lease, or work the same, and to dispose of the products of all such lands, mines, and works, as they may deem proper. SEC. 2. That the said company shall have power to make such by-laws as they may deem proper to enable them to carry out the objects of the corporation, and the same to alter, amend, add to, or repeal, at their pleasure : Provided, That such by- laws shall not be contrary to the Constitution of this Common- wealth or the provisions of this Act : and to adopt a common 3 26 seal, and the same to alter at pleasure, and to issue certificates of stock, representing the value of their property, in such form, and subject to such regulations, as they may from time to time, by their by-laws prescribe, and to regulate and prescribe in what manner and form their contracts and obligations shall be executed. SEC. 3. That the corporators of this Act shall elect persons to serve as directors of this company, a majority of whom shall constitute a quorum for the transaction of business, and shall hold their offices until their successors shall have been elected in accordance with the by-laws. SEC. 4. That it shall be lawful for said company to establish the necessary offices for the business of the company, wherever their business is located, and to have their principal office in the city of Philadelphia, at which it shall be lawful to hold all meet- ings for the transaction of the business of the Company. A. G. OLMSTED, Speaker of the House of Representatives. WM. J. TURRELL, Speaker of the Senate. Approved the sixteenth day of March, Anno Domini one thousand eight hundred and sixty-five. A. G. CURTIN. 27 Office of the Secretary of the Commonwealth, Harrisburg, June 20th, A. D. 1865. PENNSYLVANIA, ss. I do hereby certify. That the foregoing and annexed is a full, true and correct copy of the original Act of the General Assembly, entitled "An Act to incorporate the Nevada Silver Mining Company," as the same remains on file in this office. In testimony whereof, I have hereunto set my hand and caused the seal of the Secretary's Office to be affixed, the day and year above written. W. H. ARMSTRONG, Deputy Secretary of the Commonwealth.