Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1875-02-26
Tho Great Bonanza"

Late San Francisco papers, notably
the Chronicle and the 1ita, are filled
with reports amazingly interesting of
the tide of wealth flowing into the
Golfers OF the stockholders in the
''Great Bonanza" Men and women
who 4 short time ago were poor and
in obscurity now find themselves the
possessors of sums of money they
never dared to hope for. Singularly
enough, it seems to have been one of
the freaks Of Bonanza to make the
poor rich and to surprise the helpless
with unlocked for assistance, and the
'1ame ducks" on account of it i'll the
San Francisco Stock Exchange are
confined to wealthy and habitual
spectators. The "Great Bonanza"
is contained within three mines-the
consolidated Virginia." the Cali
formal and the "Ophir'' and its
worth is estimated by the noted min
ing expert, Mr. Phillip Deidesheimer,
at $l,5OO,Oo0,OO0. The remarkable
rise in the stocks of these mines is
owing to actual developments. The
yield of the Consolidated Virginia is
now 400 tons per diem; the California
is yielding nearly the same amount,
and the Ophir has a daily yield Of
ESQ tons. The ore is principally from
the levels, ranging between the num-
bers 1900 and 1850 feet, and its
average assay is $3.50 to the ton. 1t
is estimated by those best qualified
to Judge that there is in the Calitor-
mia and Consolidated Virginia mines
$l,5OO,O00,O0O worth of ore. The
vast chamber in the perpetual hills,
containing all this silver, is about
1000 feet long, 600 feet high, and
from 400 to 500 feet wide, and for
that matter 1t may be much more
widely developed. A few weeks ago
the shares in these mines were quoted
at from s35 to $50 each. About the
time these figures prevailed Mr..
Deidesheimer returned to San Fran
cisco from an inspection of these
mines, and under his advice many
poor persons who had worked for
him invested in the stock, and SO did
many Of his personal and intimate
friends. A porter in the Occidental
Hotel, for instance, bought sixty
shares in the Consolidated Virginia,
for which he paid $50. The San
Francisco Past, of the 18th instant,
says that OF the 10th Consolidated
Virginia closed strong at 500 per
share, and California was firm at
1925. The same day, under a ire
mendous pressure from the bear in
tluence, Ophir, opening at $3.50, went
down to 1855, but this decline is re-
garded only as temporary. To-day
Mr.. Deidesheimer regards Consoli
dated Virginia and California stock
as worth $1,000 per share. TO illus
trate the value of these two mines,
estimated at 81, 100000, place it
beside the volume of the total nation
al debt, which according to the last
statement, was 81, l42, sos, 1902 .O2, and
we see that the wealth of two of the
gold hills of Nevada are almost
equal to the emergency of paying it
off; but when to the resources of the
Consolidated Virginia and California
mines the mighty resources of the
Ophir, the Belcher, the Julia, the
Andes, the Crown Point, the Over
man, the Mexican, the Silver Hill,
the Caledonia and the Savage are
added, and all within the same State,
of the Cyclopean power
of the United States to bear her
burden is readily comprehended.