The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1878-05-09

ITO hell, 1 hope" was the reply.
THE SILVER RKINGS-THET THREE
RICHEST MEN IN NAMERlCA.
Seven years ago there were two
Irishmen in the City of San Francis-
CO keeping a drinking bar of very
modest pretensions, close to one OF
the principal business thoroughfares.
Their customers were of all kinds, but
chiefly commercial men and clerks.
Among them was an unusually large
proportion of stock and share dealers,
mining men and the like, who, in the
intervals of speculation, rushed out of
the neighboring Exchange five or six
times day for drinks. Whisky being
almost the religion of California, and
the two little bar keepers being care
full to sell none but the best article,
their bar soon became q place of pop
ular resort. And as no true Califor-
nian could ever swallow d drink of
whisky under any circumstances with.
out talking about silver mines or gold
mines or shares in mines, it soon fell
out that, next to the Stock Exchange
itself, there was no place in San Fran
cisco where so much mining talk went
on as in the saloon of Messrs. Flood
& O'Rrien, which were the names of
the two. Keeping their ears wide
open, and sitting the macs of gossip
that they listened to every day, these
two gentlemen picked up good many
crumbs of useful Information, besides
getting now and then q direct conf
dental tip and they turned some of
them to such good account in q few
quiet little speculstions that they
shortly had . comfortable sum of
money lying ct their bankers. In
stead Of throwing it away headlong in
wild extravagant ventures, which was
the joyous custom of the average CAL
ifornian in those days, they let it lie
where it was, waiting, with commend
able prudence, till they knew of some-
thing good to put it into. They soon
heard of something good enough. On
Fairs adyice they bought shares in q
mine called the Hale and Norcross,
aud were speedily taking out of it
IL, 200 pounds a month in dividends,
This mine was the property of q Com
pany, and though il had at one time
paid large and continuous dividends,
was now supposed to be worked out
and worthless. Mr.. Fair, however,
held different opinion; and when he
came to examine it carefully, he found
what he expected to find-a large de-
posit of silver ore. Thereupon he and
Flood and O'Brien together bought up
all the shares they could lay their
hands upon, and obtained complete
control of the mine.
Besides being q clever and expert
enced miner, Mr.. Fair entertained the
belief that patient examination in holes
and corners of the mine he would dis
cover gigantic vein of silver. bearing
ore. He discovered the vein, the esti-
mated value of which was fl20OOO.-
600.
In the excitement cauaed by this as.
founding discovery it is scalce'y
moro than the hard truth to say that
San Francisco went raving mad
The vein in which the Bonanza
was found was known to run straight
through the ConsolidatedVirginia and
California Mines, dipping down as it
went, and could not be traced any fur
ther. But that fact was nothing to
people who were bent Oh having min
ing stock ; and vein or no vein, the
stock they would have. Consequent.
ly they bought into every mine in the
neighborhood-good and bad alike
sending prices up to unheard of limits
and investing millions in worthless
proper ties that have never yielded a
shilling in dividends, and never will
When Flood had bought a large guam
tity of the Bonanza stock, and had as
sured to himself and his partners the
controlling interest in the mines, h,
recommended all his friends to buy {
little, and o 'Brien did the came. Thos,
who took the advice are now drawing
their proportionate shares Of dividend
amounting to about f500, ,O0Oa month
The majority of those who bought in
to other mines are, in California par
lance, sbusted.' What these thre