The Indianapolis leader. (Indianapolis, Ind.) 1879-1890, 1880-04-10

ney, he reached Idaho, and went to work
! By diligent labor he soon owned shares in
some of the mines there. By
By 1865 he had accumulated $4,000,
which he had, not in checks or drafts or
bits OF paper but in solid gold-dust, done up
in bags. 1t was while he was here that the
news of President Lincoln's assassination
reached the camp, and even the rough and
| hardy miners were stricken with grief
There was no telegraph, and a newspaper,
which generally came from Sacramento,
would DO bought eagerly for dollar. SO,
though money was plenty, news was scarce
With this good stock of gold-dust Mr.. Bor-
/ land determined to return to California,
which he considered his proper field, although
| he had prosperCd in Idaho. Wells, Fargo
d & ). had then established express routes in
| Idaho, and he went to them and inquired
what it would cost to transport his dust to
San Francisco. He was told 81. 25 for every
800 worth, and even at that price he must
run his own risk. He thought that if
he had to run his own risk he might as we'll
save the express charges and be his own
transportation company, for he knew that in
that case nobody would get his dust away
without fighting for it. The road at that
time was infested by "rOad agents" and the
journey was dangerous one. But he bought
some mules, big navy revolver and choice
stock Of Arkansas toothpicks, and started.
1t was long and lonely journey, but after
six days and six nights of hard riding, he
landed his gold dust safely in San Francisco.
Then he bought into Comstock and other
mines, and made money. There were no
stocks in those days, but foot of surface
h. 80 ehora n
of his first successful speculations on large
scale was in the Savage mine. In July. 1866,
he bought five feet of Savage at $l,lOO a
foot. The irst month he owned it he drew
$50 foot dividend. The second month it
went up to SIS; then it took another rise
and reached 500 foot dividend every
month. In the following year, 1867, the
value went up tremendously. Early in the
year it was worth $1,000 foot; from this
it went steadily up to $1,000, So, 600, $4,000
and So 900 foot. At this price he sold his
five feet tor $4,000, having received more
than all the money he originally invested 10
monthly dividends.
Then he began to think himself rich man.
Other stocks that he held went up, and his
fortune gradually increased-gradually for
the Pacific slope, but rapidly for any other
country From $25 900 he went up by de-
grees to $50, 900, $4,000 and 100000. In
1869, be bought largely into Comstock, and
up to 1872 be had no competitor in his gil |
gantic operations. Then Jones and Hey
wood came up. snd as he says, he had to |
keep his eyes open from that time on, ''for
had To compete against men who had mil
lions and knew how to use them. / went
into Crown Point and got snged, but that
was nothing-there's ups and downs in any
business" AT one time his dividends for |
California and Consolidated Virginia amount |
ed to $40 600 month.
"What do you consider your biggest specu-
lations, Mr. Borland7' he was asked.
1.-THE best winning speculations ever |
made" no replied, were from 1872 to 1874. |
1 made heap of money in that time, and 1 !
needed it to carry me through my worst losses,
in 1878. But got through, and am still aAoat |
In 1872 bought 500 shares of Central for |
less than 5000. This mine was soon after |
ward cut up and put into California, and the |
redistribution gave me $50 shares. never |
paid an assessment on it, for none was ever |
called for, and in no time the stock went up |
to $40 share when / sold. That paid me |
pretty WE'LL Let me see; L paid IS, 900, and |
sold for 1925 600. That left me profit of !
$4,000. That was one of my best specula-
tions but not quite so good as another one
that l was in almost at the same time. / |
bought 500 shares of Consolidated Virginia |
for $50 share, and paid two assessments on |
it, which brought the price up to 500 share.
This mine was also ''cut up just about this
time, and my 500 shares spread out into
1850 shares. / held this stock for two
years, when it went up like flash. / sold
out in 1874 for $3.50 share. 1t cost me
$28O 900 for my stock, and l sold it for ST.
062.500. That was pretty good interest Oh
my money. One Saturday the stock was
selling for $3.50 share; but held on. The
following Monday it was worth $500 a
share. l tell you it took pretty strong
head to stand that. ] was getting rich,
not at the rate of million a minute.
as they say, but only hundred
thousand a day or so; but that WAS
fast enough Nobody ever knew any
thing about this till it was ali over. L never
told my wife and family any of my business
affairs, and never kept any books. The only
book that kept was little pass book that
of all that l bought and sold, and the price.
| never let any one see this. and never
brought it out except sometimes on Sunday
afternoon, or when ! was all alone. My
heavy losses, in 1878, were on Sierra Ne
vada and Union. lost 81 400 900 then in
side of 10 days-shrunk that much in de-
probation of stock. The veins were not 30
WIDE as was expected
Mr.. Borland is still interested in good
many mines though he spends more time in
his handsome residence in Oakland, Cali
fornia, with his family than when he was
younger. he thinks there is still as good
chances as ever for young men among, the
mines. And those young men who have
good muscles, and do not care for starched
cuffs, may be interested to know that the
average pay of miner just now is $3.50
day. This is not as quick way of getting
rich, however, as to buy 1000 shares of
Belcher at $50 a share, and sell it as Mr.
Borland did, for 81, 600 a share.