Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1875-11-04
- JOHN NlACKEY FORTUNATUS.
per- Day to the Largest Income in
America.

America.
A San Francisco correspondent writes
rs follow. to the New York Sun: tt"
years ago John Mackey WAS working a> a
mining laborer in little exploring il
Virginia City. He swung his pick vig"r'
"usly, and was paid - per day. T"da:
he has larger income than any other
single individual in America, and if his
wealth continues to accumulate us it has
tor the past two years, his fortune will ri
val that Of the richest ko.hschild. Nr
Mickey Is tho head of the great mining
finn Of Flood & O>Brien, Of this cit,
whose gigantic operations and grand ag
grcgation Of capital recently swamped
the Bank Of California, and hurled Si,ar-
ON, R:.lst"n aud Jones from their tinancia
pedestal. The members Of the firm are
John Mackcy, James c. FIo"d, VIM. 5.
O'Hrien and Colonel james G. Fair. Mr.
Mackey is the financial head. Flood and
O'Bricn attend to all the interests OF the
firm, in California, and Colonel Fair is
working Superintendent Of the mines in
Virginia Ciy. The latter embrace the
Consolidated Virginia, the richest mine
ever discovered in Nevada, now turning
out Il MILLION ard Ealf r.r N, Eth; the
California, adjoining it, with even Il larg.
''r body of ore; the Hale and Norcross,
u R<,l, II
"a Nevada, Mexican, and finally, the fa-
nous Savage, which in years gone by has
turned out its Millions Besides, they
own score Of small mines, any one ot
which may at any time turn up bo.
iaDZa.
OF the entire business and profits Of the
firm, Mr.. Mackcy Las thrce.tif,hs inter-
est. The firm owns GGO0O shares Of Con-
snlidated Virginia stock. on which they
declare monthly dividend Of $40 a
share. Mackey'> share Of this is $780,
900 Il month. Of stock in the California
mine they own G0,000 shares. The first
monthly dividend "f $40 is to be de-.
Shared in November, and this will add to
Mr.. Mack"y's income $500, 900 month
The other mines that the firm control pay
no dividends, but they yield large reve-
nue. to the firm in ways more indirect. For
instance, the firm own all the wood used
in their working, both for fuel and for
timbering. and they sell it to the compa
nies ut an immense profit. The Savage,
Hale and Norcross, and Gould and Curry
alI crush more or less ore, and This is
done in the firms mills at cost Of $13
Il ton. The yield Of silver being scarcely
enough to pay the cost Of both mining
and crushing assessments arc levied to
make up the deficiency. The firms in.
come from this source and from crushing
the ore of the Consolidated Virginia,
which is also tune III their own mills, Is
estimated at $4,000 month, of which
put Mr.. Mackry down tor $4,000.
Add to this the prospective profits of
the Nevada Bank. which has just opened
with Cash capital Of $5,0)0,O0O, aud
which is the exclusive property uf the
firm, and you N " then fi.ure out the In
come Of Mr.. Mackey. The Bank of CAL
itornia paid for years 18 per cent. "n their
$5,O0OoOO capital. The profits Of the new
bank cannot be less. This amounts to
$500 600, or $75,OOO a month, of which
MIR. Mackey's share will be $45,O00. To
sum up then, Mackey will have for the
next year from his mining and bullion in
tcrests alone tie colossal income Of $751;.
600 month. or at the rate of $40, ,OOO, 600.
This does not include the income OF his
vast wealth in real estate. For the past
year he has been making large invest
ments in tue very heart Of TIE city,
Whole blocks Of t.r: most valuable real Is.
tate in San Francisco have been pur.
chased, and the income Of these Cannot
we'll be estimated, but it must be enor
nous.
Mr.. Mackey is the most retiring and
modest OF any OF Calitofnia's million
aires. He lives in Virginia, but his fa,ni.
ly spend most Of their time in this CITY,
He dresses plainly, and might be- sup,
posed 10 be well.tO.dO farmer-Dotl,ing
more. Already the politicians Of Nevada
arc moving to make HIM Senator Jones'
successor in Washington. lf lie wants
the place ke Can undoubtedly buy it for
much less money than, Jones paid, for
Nevada politicians are poor and hungry,
and will sell vat cheap, :. & sa,a .s..
OF Mackey's partner j. z. Floods the
most important. With 0'Brien, Flood
used to keep 2 little groggery in: Ransom
street inthis city. They did not close the
until 1867. They made
some money at the business, and invested
it with Mackey in the purchase of the
ground that is q part Of the Consolidated
Virginia mine: Flood andO O'Brien were |
lrishmen. They are shrevd and sharp in !