The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1876-07-06
PRzYCELY INCOMES.
Milwaukee, May 1876,

Virginia City CEev) correspondence 10 N. Y. sun.
The yield of the Consolidated Virginia
mine in March last was $S,634, 29S. 20.
These figures are official, as got them
from Mr.. Taylor, principal bookkeeper.
Since this mine commenced paying divi-
denLs its stockholders have received
$50, 900, 900 in round numbers. The Cal
| Ifornia mine, the richest known mine in
the world, paid it's first monthly dividend
on the fifteenth instant, $1,080,000, or
two dollars per share for each of it's FIVE
hundred and forty thousand shares.
These two mines pay monthly dividends
of $2,l6O,O0O. Beginning in July, the
California mine is expected to pay a
monthly dividend of three dollars per
share, or 81 100000 monthly. The pre-
sent price per share of these stocks is re-
spectively: California, eighty dollars /;
Consolidated Virginia, seventy.three dol
lars. Like all mining stocks they are
subject to startling fluctuations. The
knowing ones, however, do not look for
any material changes in the prices of
these two stocks this Summer. II is not
altogether a matter Of speculation with
regard to these mines. What ore they
contain is pretty closely ascertained. At
present there is enough irst-class ore
therein to keep the mines going for at
least three years.
Col. Fair, superintendent, is now erect
ing a new eighty-stamp mill, in addition
to the numerous mills already possessed
by himself and partners. When this is
finished you'll hear of some unparalleled
results from the Bonanza mines. Fair
expects to turn cut five hundred thou
sand dollars a month. He can do it. 1t
is only 8 question of milling facilities.
There is no lack of ore.
In view of the stupendous wealth of
these mines the question often occurs to
me: What will be the eventual limit of
the wealth Of the fOur gentlemen Popu-
larry known as the "Bonanza KingsT
People who have watched their fortunes
with critical eyes aver that they are now
worth in money and property upward of
800, 100000. It is a common remark |
here that Mackay has an income of
100000, gold, a month. Since
the California mine commenced pay
ing dividends it must have added at |
least $3.50, 900 TO his monthly income. l
think may say that bis monthly income
Is in round numbers, million of dollars.
James G.. Fairs income is not less than
a month; Floods $4,000;
o'Brien's, 100000. Now, here are four
men with a gross income ofnearly SO, 000,-
600 a month, every one of them hard
practical business men. With
500, 900, 900 ahead already, and a yearly
income Of ESQ, OOO,OO l think it is safe
to put them down in January, 1879, as
the richest qusrtette in the world.
The question is frequently asked, What
win Mackay do with his fortune?
People seem to forget that the more
money man has the more uses he
finds for it. Ofall the people on this
coast, Mackay himself is the least
anxious about finding a use for his
notice in the letters Of correspondence
a widespread error in regard to all these
men. It is generally believed by eastern
people who have read of the wonderful
fortunes Of the 'SBonanza Kings" that
they have been acquired within the last
year, and that none Of them were com,
fortably fixed before the developments Of
the consolidated Virginia mine. This is
all mistake. Flood and O'Brien were
worth 100000 ten years ago, and they
have kept adding to it ever since, Fair
was worth half a million seven years ago,
and Mackay was a millionaire long before
the consolidated Virginia mine was
dreamed Of. make these corrections for
the benefit of such innocents as think the
millionaire quartette have nothing to do
but throw twenty-dollar gold pieces at
every person who takes it into his or her
head to write begging letters to them.
It would not be believed there are such
arrant fools in The world as some Of the |