Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1863-09-12
san FranciScO-s5c silver Mar
ket Of the World.
BY JAY wHIPPLE.


proceed to do so in this letter.
This city is uuquesIionabIy the great
est market in the world for the sale OF
shares in silver mines. The shares of
one thousand mines are now in this mar
ket. and the sales have not been less than
$4,000 in cash value on any day du-
ring the past three months, and often
risen to 100000, averaging probably
100000. Several hundred shrewd
business men find profitable occupation
in the purchase and sale of these mi
ming stocks. The Boards of Brokers are
two of the most prominent, prosperous
and active of the public Institutions of
this city. Brokers off es are very nu-
merous along Montgomery Street. The
photographers and printers, for months
past, have been busy printing certificates
of stock. About two hundred and fifty
companies are organized monthly, with
joint nominal capital of about $500, 900.
Nine-tenths Of the companies, probably
much larger proportion, have no claims
that will pay, and their capital exists only
on paper; and yet the organization OF SO
many companies indicates great activity
and enterprise, mach labor, extensive
prospecting, high hopes, and substan-
iial basis of prosperity somewhere
Shares are held in these companies by
mole than twenty thousand men. and
they would not go to the expense Of send
ing out prospecters, cutting ;unnels,print-
inc certificates, hiring Offices, and en-
ploying clerks, if either they or their
neighLors had not already made great
sums of money out of the silver mines.
And such great sums Of money, it Is
well known, have been made. Silver
mining stock is preferred as an invest
ment for money over everything clse.-
Those who have invested freely in it are
the most prosperous men in California.
Whenever hafa dozen people, collected
together, begin TO talk about business
aud fortune making, conversation imme.
diately turns upon the men vino, within
two or three years, have risen to great
wealth by the investments in Washoe.-
Tho examples are not few but numerous.
They are to be found in all classes of So
ciety-bankers. merchants, LAWYERS, me-
chanics and street laborers they arc
within the acquaintance Of evervbody.--
All Of the men who are pointed out as
marvels Of success. in swift monev-ma-
king, are interested in Washoe. And it
could not be otherwise; for within four
years since H. G~'''SeV~h iOuo wac dis
covered, the cash value of the silver
mining stock owned in California has IL
sen from nothing 10 the fabulous sum of
S5O,0O0,OO0. This is moderate esti-
mate of the actual cash value of per-
manent property, which was obtained at
at original cost OF, perhaps, 100000,
leaving profit of s47 900, 900, to be d.
vided among, perhaps, five thousand per-
sons who own shares in the rich mines.
The mining regions of the Coast are
so numerous now that it isalnost impos-
sible to remember them all. The Wa
shoe region stands at the head, and inf
niteIy aL.ve all the others. E>merada,
Humboldt, Reese River, Including ali
the mines in Lauder, County, Nevada
Territory, Owen River, Slate Range,
Colorado, including all the mines near
the Colorado River, Arizona, Lower
California, n d North western Mexico
nil these regions consider San Francisco
as he spot 10 which they are to look FOR
heln. Here alone stocks can be sold,
money obtained for starting business, and
machinery purchased.
As the prosperity of company de-
ponds greatly upon the market value of
the stock, and the stock, except nnler ex-
traor'linary circumstances, could not be
sold unless the company bad their Office
here, it results that all the mining COM
panies which expect TO attain much i'm
portance are Incorporated, and have their
Offices in San Francisco. Thus it is that
every day may be seen companies or
gained in San Francisco to work mines
at various points on the Coast, and also
far in the interior.
In the sixteen months from March,
1862, TO July, 1868, the price of the
Gould d. Curry increased from $500 to
$4,000 per foot, an average of $500 per
month. More than once it leaped up
$1,000 in n month. The Savage was
not noticed in the calendar until Janua.
ry. 1868. In the seven months it rose