The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1875-11-18
Ten million. a Year.

A letter from San Francisco to the New
York Sun says:
Ten years ago John Mackey was working
as a mining laborer in a little exploring
shaft in Virginia City. He swung his pick
vigorously and was paid 81 day. To-day
he has larger income than any other single
individual in America, and If his wealth
continues to accumulate as it has for the past
two years, his fortune will rival that of the
richest Rothschild. Mr.. Mackey is the
head of the great mining firm of Flood &
OBriep, of this city, whose gigantic opera
tions and grand aggregation of capital re-
Gently swamped the Bank of California, and
hurled Sharon, Ralston and Jones from
their financial pedestal. The members of
the firm are John Mackey, James C. Flood,
William S. O'Brien, and Col. James G..
Fair. Mr.. Mackey is the financial head,
Flood and O'Brien attend to the interest of
the firm in California, and Col. Fair is
working superintendent of the mines in
Virginia City. The latter embrace the fa-
nous Consolidated Virginia, the richest
mine ever discovered in Nevada, now turn
ing out million and million and half a
month; the California, adjoining it, with
even larger body of one; the Hale and
Norcross, Rest and Belcher, Gould and
Curry, Sierra Nevada, Mexican, and finally
the famous Savage, which, in years gone by,
has turned out its millions. Besides they
own a score of small mines, any one of
which may at any time turn up a bonanza.
Of this entire business aud profits of the
firm Mr. Mackey has a three-tifth interest.
The firm owns 66, 900 shares of Consolidated
Virginia stock, on which they declare q
monthly dividend of $40 share. Mackey's
share of this is 1896, 600 month. OF stock
in the California mine they own 60 900
shares. The first monthly dividend of $40
is to be declared in November, and this will
add to Mr.. Mackey's income $500, 900 a
month. The other mines that the firm con-
troll pay no dividends, but they yield large
revenue to the firm in ways more indirect.
For instance, the firm own all the wood
used in their working, both for fuel and for
t:mDering, and they sell it to the companies
at an immense profit. The Savage, Hale
aad Norcross, and Gould and Curry all
crush more or less ORE and this is done IN
the firms mills at cost of $l3 ton. The
yield of silver ueing scarcely enough to pay
the cost of both mining and crushing, as
sessments are levied to make up the def
cheney. The firms income from this source
and from crushing the ore of the Consoli-
dated Virginia, which is also done in their
own mills, is estimated at $50, 900 month,
of which put Mr.. Mackey down for $50, 900.
Add to this the prospective profits of the
Nevada Bank, which has just opened with
cash capital of $5, 900, 600, and which is
the exclusive property of the firm, and you
may then figure out the income of Mr.
Mackey. The Bank of California paid for
years IS per cent. on their $5, 900, 900 capital.
The profits of the new bank cannot be less.
This amounts to 5000, 900, or $75, 900 a
month, of which Mr.. Macksy's share will
be $45, 900. To sum up then Mackey will
have for the next year from his mining and
bullion interests alone the colossal income
of 1881, 900 month, or at the rate of near
ly $4,000, 600 year. This does not in
clude the income of his vast wealth in real
estate. For the past year he has been max
ing large investments in the very heart of
the city. Whole blocks of the most valu-
able real estate in San Francisco have been
purchased, and the income from these can
not well be estimated, but 1t must be enor-
nous.
Mr.. Mackev is the most retiring and
modest of any Of California's miIlionaires
He lives in Virginia, but his family spend
most of the time in this city. He dresses
plainly, and might be supposed TO be a
well-to-do farmer-Dothing more. Already
the politicians of Nevada are moving TO
make him Senator JDnes's successor in
Washington. II be wants the place be can
undoubtedly buy it for much less money
than Jones paid, for Nevada politicians are
poor and hungry, and viii sell out cheap.
OF Mackey's partners ]. Q. Flood Is the
most important. With o'Brien, Flood used
to keep little groggery IN Sansome street,
| in this city. They did not close the estsb-
| lishment until 1867. They made some
money at the business, and invested il with
Macksy in the purchase Of the ground tina,
is part of the Consolidated Virginia mine
Flood and O'Brien are IrishmeB- They are
shrewd and sharp in business, generous tc
their friends, and unrelenting 70 their enc
mics They took NJ 9 poverty-stFickeu eu
newspaper man last springs man who
had done them some iifrle turn while ihey
were IN the whisky business-snd IN three
days made him worth SIS, ,0OO. On the
other hand. Sharon, Ralston and the Bank
Of Califnrsia. which hsd oGrnded them,
they crushed out in three weeks, and they
would have kept the bank down but fos
Ralston's death and the popular ouIcy
| against thea Flood recently bought IS.
900, 600 Of real estate. and aaid himself jas,
before the new bank opcned thar be had
a. NIIa o7In' T.nk - osI1 - ...ar 49, r.o~It