The daily gazette., 1875-10-25
The Pacific Coast Midas.


arh0 Became tie Peer of the Wt2l!on =
aires Of California, and has Larger
Lcome hda any other Amsricdn.
SAN FRANcISco, Oct. 9.
Ten years ago, John Mackey was
working "A Il mlning lab1rer IN lit
tie cnploring shaft ia Virginia City.
He swung his pick igorously; a. q
was paid a u day. To-Day he has II
larger income than any other single
individual in America, and if his
wealth continues TO accumulate as IL
has for the past two years, his fortune
will rival that of the richest Roth
schild. Mr.. Mackey is the head OF
the great miuing firm of Flood "nd
O'Brien of this city, whose gigantic
operations and grand aggregation OF
capital recently swamped the Bank of
California, and hurled Sharon, ltalston,
and Jones from their financial pedes
tai The members of the firm are
John Mackey, James G. Flood, VIM.
;. O'Brien, and Col. Jas. G. Fair. Mr..
Mackey is the financial head, Flood
and O'Brien attend to the interests of
the firm in California, and Col. Fair is
working superintendent of the mines
in Virginia City. The latter embrace
the famous Consolidated Virginia, the
richest mines ever discovered in Ne.
vada, now turning out million and
hail month; the California, adjnin-
ing it, with even larger body of 1tc;
the Hale and Norcross, Best and Bel
cher, Gould and Curry, Sierra Nevada,
Mexican, and finally the famous Saw
age, which in years goneby has turned
out its millions. Besides they own a
score of small mines, amy one of which
may at any time turn up Bonanza.
MR., MAcKEY's INCOME.
Of the entire business and profits of
the finn Mr., Mackey has thrce-fifths
interest. The firm owns Go, 600 shares
of Consolidated Virginia stock, on
which they declare monthly divi.
dend of $40 share. Mackey's share
of this is 1896, 600 a month. OF stock
in the California mine they own 90, 900
shares. The first monthly dividend
of S1Ois to be declared in November,
and this will add to Mr.. Nackey's in
come 100000 a month, The other
mines that the firm control pay no
dividends but they yield large reve-
nue. 10 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
1t to the companies at an immense
profit. The Savage, Hale and Nor
cross, and Gould and Garry all crush
more or less ore and this is done in
the firms mills at cost of $l3 ton.
The Weld of silver being scarcely
enough 10 pay the cost of both mining
and crushing, assessments are levied
to make up the deficiency. The firms
income from this source and from
crushing the ore of the Consolidated
Virginia, which is also done in their
own mills, is estimated at $50, coo a
month, of which put Mr.. Mackey
down Tor $50, 600.
Add to this the prospective profits
of the Nevada Bank, which has just
opened with cash capital of So
600, 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
IS, 600, 900 capital. The profits of the
new bank cannot be less. This
amounts to 100000 or $75, 900 per
month, of which Mr. Mackey's share
will be $43 900.
To sum up then Mackey will have
! for the next year from his mining and
| bullion interests alone, the colossal in
| come of 1881 600 month, or at the
rate of nearly $40 000, 900 year. This
does not include the income of hi
vast wealth In real estate, For thu
| past year he has been making large in
vestments in the very heart of the city
| Whole blocks of the most valuable
real estate in San Francisco have beej
! purcha sed, and the income from thcs
cannot well be estimated, but it mus
| DC enormous.
MODEST MILLIONAIRE.
Mr.. Mackcy is the most retiring an,
modest of any Of CALIFORNIA; million
aires. He lives in Virginia, but hi
family spend most OF their time in thi
| city. lie dresses plainly and might b
supposed to be well TO do farmer
nothing more. Already the politi
clans OF Nevada are moving to max
him Senator Jones' successor in Wash
ington. II he wants the place, he ca
undoubtedly buy i for much less tha
Jones paid, for Neyada politicians ar
poor and hungry, and will sell on
cheap.
Of Mackcy's partners, j. c. Flood i
the most important. With O'Brier
| Floed used to keepa little grogger
in SAMSON street, in this city. The
did not close the establishment unit
1867, They made some money at til
business, and invested it VITA Macke
/ in the purchase Of the ground that is
ipart of the Consolidated Virgini
mine.
Flood and O'Brien are Irishmen.-
They are shrewd and sharp in busine,
) generous TO their friends, and unr,
lenting to their enemies. They too
up poverty stricken maG last sprin,
man who had done them SONS littl
turn when they wers in the whisk e
: business-apd in three days made hil
worth $75, 600. On the other hant
Sharon and lsalston, and the Bank {
, California, which had offended thel
they crushed out in three weeks, an
they would have kept the bank dow
| but for ikalstOn's death and the popi