The Daily state register. [volume] (Carson City, Nev.) 1870-1872, 1871-06-11
SIX THOUSAND DOLLARS A FOOT.
Heavy Sale of Crown Point Mining
Shares.
From the s. F. Chronicle, Sth. ]

oudreS-
From the s. f. Chronicle, sth.
The recent advance in the price of
Crown Point Mining Company shares
has been most remarkable, and many
mining "sharps" have been greatly
disappointed that there has not been
a heavy break in the ruling price. In
Novemb Der last the stock was selling
at three dollars per share, assess
ment on. Almost every one avoided
it; the mine was pronounced ex-
hausted, and all faith in its future
was lost. The prospecting in the
lower levels was continued, and re-
suited in the discovery of body of
ore of fine quality. No announce
ment of this fact was publicly made,
but Alvinza Hayward learned of the
discovery through the Superintend-
ent of the mine, and seeing n for
tune in prospect,
PURCHASED ALL THE SHARES HE COULD,
Securing about 5000 shares at a
price averaging less than So per
share. Charles L, Low also picked
up a thousand shares. which cost
him 300, including brokerage.
When the news of the strike was
made public the stock began to rise
rapidly in the market, and within
four months had touched 500. OF
course there were incredulous oper-
ators who had no confidence in the
Comstock:" these ''sold short and
were badly bitten-two or three
brokers finding themselves bankrupt
when the time came for settle
ment. Hayward held on to his
shares, and gave his broker. Seligs
burg. orders to buy all that was
offering. His OBJ ecs evidently was
to secure a majority of the stock,
and thus control the annual election
the drift from the 1,20O-foOt level in
the mine ran into the same body OF
ore which had been found above,
and again the stock jumped. Low
had disposed of 700 shares in the
meantime at from $50 to Sl20 per
share. of which Hayward is supposed
TO have secured the larger portion.
Still the stock rose, eventually reach
ing $50, at which price it was firm.
At. this price Low sold his balance
300 shares-to Hayward. Now came
slight misunderstanding. Hay
ward had captured nearly six thou
sand out of the twelve thousand
shares in the mine, and was
ANXIOUS TO SECURE A MAJORITY.
About 400 shares were so placed
that they could not be controlled,
and VIM. Sharon held 400 shares
for himself and others. Sharon is
Manager of the Bank of California
at Virginia City, and head Of the
combination which controls the
larger portion of the quartz mills Of
that portion of Nevada. He desired |
to have trustees elected to the con-
troll of the company who would give
to the combination mills the work of
reducing the Crown Point ore, and
assumed that with his nucleus of |
4. 100 share he would be able to Sc
cure enough others to give him a
majority vote at the election. Hay
ward desired to have his set of trus
tees elected free from any promises. ,
A SPLIT
IN the hitherto amicable relations of
these two big mining operators was
threatened, and for time there was
some prospect that an excitement
not unlike that of the great fight
over the Hale Il Norcross election, a
few years since, would result. Some
common friend. however. supposed
to be the financial Napoleon of this
city, interfered to prevent such a
catastrophe. Negotiations were
opened, ambassadors sent and dipio-
matte councils were held.
THE RESULT WAS SATISFACTORY.
HAYWARD, it is said, agreed to GER
tain stipuIations concerning where |