Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-03-05


nser wRshositss-rhs First Mis-
tug Ceuapanies-BurssinE % Bub.
blss-rhe Lessens Of the Past.
Is. r. Mining and Scientific Pfess. March SAL
Not only in the matter Of mill con-
struction did the pioneer miners on the
Comstock greatly ovsrdo things at the
start. Their e~rtravagant ideas about
the mineral wealth Of the country be-
trayed them into o variety Of other
equally fatal mistakes, such a. the lay
ing out Of extensive cities at oil supposed
eligible points, the building OF costly
wagon roads over the mountains, the
projection Of gigantic tunnel schemes
and the like. to say nothing Of innumsr.
able mining enterprises, backed by any
amount Of nominal capital. Within
eighteen months from the time that tho
washoo excitement broke out. more than
o score OF town sites had been surveyed
at localities that were believed to possess
such natural advantages as would spssdi-
ly attrnct to them = large population.
and render the lots there laid out sx-
trsmely valuable. AL the minsral and
thermal springs within q hundred miles
around had been seized upon under the
impression that they could easily DO
converted into great sanitariums, whose
widespread fame would at once attract
TO them swarns Of invalids from every
quarter. Through every pass In the
Sierra Nevada between Sonora and the
Dswnisvills buttes q toll.road had boen
commenced and partially constructed.
nearly enough money having been OK.
pended FIRST and last on this class OF Inn
provemsnts to have built y narrow
guaso railroad over the mountains.
Before tho end Of the year 1861
rroHrY.sIx COMPANIES. WITH AN OGRE
oArE CAPITAL roc or SOL. SOC, 900.
Had been organized. the most Of them
having their headquarters In San Fran.
cisco, to open up and work the mines OF
western Utah, tho era Of excessively
largo capital and purely speculative
mining having not yet been ~inaugursted.
Only In one case, that OF the Ophir. did
the stock OF any Of these companies
amount TO M much ~ 20, 000, 900. That
Of the Gould & Curry. next In magni-
tude, was fixed ut ~, 400, 900. aud that
Of Mount Davidson at 50. 200, 900. none
Of the other companies on the list hav-
ing reached tho Inter figure, the most
Of them having ranged frsm $3.50, 600
to $500, 900. OF oil the companies In.
~corporatod during that period.
ONLY NINE SURVIVE,
Viz: Ophir. Gould & Curry, Sierra Ne.
vada, Chollar, Lady Bryan. Hale *
Norcross, Utah, Bullion and Daney, tho
limits Of some OF these having been no
curtailed. extended or otherwise altered
as to nearly destroy their identity. Tho
claim OF tho present Ophir Company.
for example, covers but q fraction Of
what constituted the original Ophir
ground, while the Sierra Nevada, the
Chollar and the Dansy embrace a good
deal more ground than they did at first;
tho Chollar having absorbed what was
formerly the Potosi, and tho possessions
Of the Daney having been extended for
more than a mile north OF their original
location. On the other hand. n good
Many small claims have been aggregated,
constituting one or more large ones. ~
in the case Of the California. Consolidated
Virginia, Imperial Empire, etc. Sons
OF these early interpretations, for one
reason or another,
ENJOYED oUIrE A FAME IN THEIR DAY.
The burning Moscow, for instance.
was for u time rendered conspicuous
through the long and bitter contest
which that company wagsd with tho
Ophir, the problem OF the n lrslgo
theory having for tho first time coine up
for adjudication aud forming tho turn.
ing point In the Hght. The Mount
Davidson Company. formed to drive n
tunnel into the Comstock Lode and open
IL up 10 the depth Of n thousand feet,
wns for several years a live AMI pop
ular institution. the end proposed hav-
ing been then considered n marvellous
undertaking. The Latrobc was an.
other incorporation gotten up for n sim.
liar purpose, both Of these companies
expecting also that they would interscct
some valuable blind leads In the course
Of their excavations. In this, however.
both were disappointed. though the
Latrobe Company did have the good
luck TO strike such an amount Of water
M afforded them for several years q con-
adorable revenue, this being q very
scarce commodity ut that period about
Virginia City. Before either q these
tunnels had reached their objective
point. the Comstock Lode had been
opened TO such depths by other msans
that, their further prosecution being
deemed in~erpedisnt. both wore aban.
donsd, causing severe disappointment to
multitudss who Ind bought tho shares
81 these companies believing them to DO
a safe and profitable investment.
"vASisuED INTO THIN AIR."
Il was the case. indeed. that very few
Of tho many companies organized OF
early day ever accomplished any
thing beneficial to the shareholders, nor
did any considerable number OF the 9TH
or grand schemes then set on foot real.
ize the fond hopes Of the projectors.
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