Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1875-11-10
JOHN MACKEY FORTUNATUS.
The Rise of Common triner-From 81 {
Day to the Largest Income in America

| years ago John Mackey was working as
mining laborer IN 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
II his wealth continues to accumulate as
it has for the past two years, his
fortune will rival that of the richest
Rothschi!d. Mr.. Mackey is the head
OF the great mining firm of Flood &
O'Brien, Of this city, whose
gigantic operations and grand
aggregation of capitalreoently swamped
the Bank of California, and hurled
Sharon, Ralston and Jones from
their financial pedestal. The members
Of the ilrm are John Mackey, James G..
Flood, VIM. s. O'Brien and Col. James
6. 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 Consolidated Virginia, the
richest mine ever discovered in Nevada.
now turning out million and half O
month; the California, adjoining it,
with even a larger body of ore; the
Hale and Norcross, Best and Belcher,
Gould and Curry, Sierra Nevada, Mexi-
can, and finally, the famous Savage,
which in years gone by has turned out
it's millions. Besides, they own score
of small mines, any one Of which may
ct any tlAe turn up bonanza.
Of the entire business and profits of
the firm, Mr.. Mackey has three-f fths
interest. The firm owns $4,000 shares
of Consolidated Virginia stock, on
which they declare 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 $3.50. 900 a
month. The other mines that the firm
control 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 timbering, and they sell it
to the companies at an immense profit.
The Savage, Hale and Norcross, and
Gould and Curry all crush more or less
ore, and this is done in the firms mills
at cost of 1913 ton The yield of
silver being scarcely enough to pay the
! cost of both mining and crushing, as
sessments are levied to make up the de-
fciency. The firms income from this
source and from crushing the ore of
Consolidated Virginia, which is also
done in their own mills, is estimated at
$50, 900 month, of which put Mr..
Mackey down for $4,000.
Add to this the prospective profits of
the Nevada Bank, which has just
opened with cash capital of S., Co.,
600, and which is the exclusive proper
ty of the firm, and you may then figure
out the income of Mr.. Mackey. The
Bank of California paid for years 18
per cent. on their $4,000, 900 capital.
The profits of the new bank cannot be
less. This amounts to 100000, or
$75, 900 month, of which Mr.. Mackey's
share will be $45, 600. To sum up
then, Mackey will have for the next
year from his mining and bullion inter
ests alone the colossal income of 1881,
| 600 month, or at the rate of $40, 600,
| 600. Thir does not include the income
of his vast wealth in real estate. For
| the past year he has been making large
Investments in the very heart of the
city. While blocks of the most valua-
BILE real estate in San Francisco have
been purchased. and the income from
these cannot we'll be estimated, but it
must be enormous.
Mr.. Mackey is the most retiring and
modest of any of California's mil
lionaires. He lives in Virginia, but his
family spend most of their time in this
city. He dresses plainly, and might be
supposed to be well-to-do farmer
nothing more. Already the politicians
of Nevada are moving to make him
| Senator Jones successor in Washington.
Ii he wants the place be can undoubt-
edly buy it for much less money than
Jones paid, for Nevada politicians are
poor and hungry, and will sell out
cheap.
Of Mackey's partners J. G. Flood is
the most important. With O'Brien,
Flood used to keep little groggery in
SAMSON street in this city. They did
not close the establishment until 1867.
They made some money at the business,
and invested it with Mackey in the pur-
chase of the ground that is part of the
Consolidated Virginia Mine. Flood
and O'Brien are Irishmen. They are
shrewd and sharp in business, generous
to their friends, and unrelenting to
their enemies. They took up power
ty-stricken newspaper man last spring
man who had done them some little
turn while they were in the whisky
business-and In three days made him
worth $4,000. On the other hand,
Sharon and Ralston and the Bank of Cali
fornia, which had offended them, they
crushed out in three aweeks, and they
would have kept the bark down but
for Ralston's death and the popular
outc,y against them. Flood recently
bought S., 600, 900 worth of real estate,
and said himself just before the new
bank opened that he had 81, 900, 600 lent
on call at one per cent. a month. His
wealth is second only to that of Nackey
Col. Fair is the only man of book edu-
cation in the Arm. He has long been q
mining superintendent, and is somewhat
noted for tricks that are vain. When
he was poor, . few years ago, he was
known by some as 'sLying Jim Fair, =
and by others as s'Slippery JIM" but