The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1876-06-24

mine in March last was S3,634, ,29S. 30
These figures arc official, Virginia City
letter says, as ! got them from Mr.. Taylor
principal bookkeeper. Since this mine
commenced paying dividends the stock
holders have received s20,000,00O 10
round numbers. The California mine, the
richest known mine in the world, paid il
first monthly dividend on the fifteenth Of
May, sl0s0,0O0, or So per share fol
each Of its $4,000 shares. These two
mines pay monthly dividends of $780,
600. Beginning in July, the California
mine is expected to pay monthly diyi
dend Of SO per share, orsel ,620, ,0OO
monthly. The present price per share Of
these stocks is respectively: California,
$50; Consolidated Virginia, s73. Like all
mining stocks they are subject to startling
fiuctatiOns. The knowing ones, however
do not look for any material changes in
the prices of these two stocks this summer
1t Is not altogether matter of speculation
with regard to these mines. What ore
they contain is pretty closely ascertained
AT present there is enough first-class ore
therein to keep the mines going for at
least three years.
Col. Fair, superintendent, is now erec.
ting new eighty-stamp mill, in addition
to the numerous mills already possessed by
himself and partners. When this is fin.
ished you'll hear of some unparalleled
results from the Bonanza mines. Fair
expects to turn out s5,OOO,00O month.
He can do ii. 1t is only 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 eventful limits Of
the wealth of the four gentlemen popularly
known as the BONANZA Kings p People
who have watched their fortunes with
critical eyes aver that they are now worth
in money and property upward of $780,
100000. It is common remark here
that Mackay has an income of $500, 900,
gold, month. Since the California mine
commenced paying dividends it must have
added at least s15O,000 to his monthly
income. | think I may say that his
monthly income is in round numbers a
million Of dollars. / do not ask you to
accept my bare statement as fact, but
beg to call your attention to the following
extract from biographical article on that
gentleman published in the San Francisco
Ne,os Letter, March 4, last:
at has been calculated in regard to the
total income Of this youngest Of the quartet
of bonanza Princes" that each minute
of the day and night twenty-five golden
dollars drop into his pockets with mechan-
ical and monotonous regularity. Mr.
Mackay owns three-eighths of the famous
Bonanza mines, from which his income is
estimated to be over ssO0,OOO per month. :"
james G. Fairs income is not less than
100000 month; Floods, $3.50, 900 !;
O'Briens, s5O0,0OO. Now, here are four
men with gross income of nearly 49,
O0O, 900 month, every one Of them hard
working, practical business men. With
$1,000 10000 head already, and yearly
income of s36,00O,O00, think it is safe
to put them down in January, 1879, as
the richest quartet in the world. The
question is frequently asked; "What will
Mackay do with his fortune?" People
seem to forget that the more money
man has the more uses he finds for it. OF
all the people on this coast, Mackay him
self is the least anxious about finding
use for his money.
| notice in the letters of correspondence
a widespread error in regard'to all these
men. II is generally believed by Eastern
people who have read Of the wonderful
fortunes of the BONANZA Kings" that
they have been acquired within the last
year, and that none Of them were comfor-
tably 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 million seven years ago, and
Mackay had been millionaire long before
the Consolidated Virginia mine was dream
ed Of