Evening journal., 1889-02-22

and iron resolution. BY his advice the new
firm made their first stroke by obtaining the
control of the Hale and Norcross mine,
(which lies ON the pathway Of the Comstock
as it turns toward Gold Hill.n They paid for
it a mere song. At once they went to work
to develop the great wealth of which they be-
heved themselves possessed.
The first fruits Of the operations Of the great
firm was remarkable rise in the Hale and
Norcross, by which they were enriched
good many hundreds Of thousands. The
rise continued steadily until it amounted
altogether to GOO per cent AT the same time
ore was taken out ia great quantities. In the
years 1885, 1866 and 1867 the profits of the
partners from the Hale and Norcross mine
were more than 81, ,0O0, ,O0O. -Four years from
the date Of the copartnership had elapsed
when Mr.. Walker withdrew from it and Mr..
James G. Fair took his place.
The firm at once extended its operations
The mining claims known as the California
and Sides the White and Murphy, the Cen
tral and the Kenney, all ''on the Comstock, y
were to be had, and it bought them. They
were imperfecuy developed, and to Mr..
Mackay and Mr.. Fair is chiefly due an early
perception Of their future possibilities.
Out Of all these properties and others as
well the Consolidated Virginia, asynonym for
visions Of abounding gold was formed Still
later however, a part of them were segre-
gated under the name of the California mine
They began their deep explorations in 1871.
The old shaft of the Central mine was utilized
and they pushed drift northward from the
1l6O foot level of the Gould and Curry, across
the Best and Belcher and into the old ''Vir-
ginia ground The distance,was more than
/ 1900 feet, through rocks Of the most difficult
character.
A disaster occurred during the long period
of exploration, which for a time arrested its
progress In October, 1875, a conhagration
swept away the buildings and all the valuable
machinery Of the Consolidated Virginia com
pany. The energy of the "Bonanza firm
quickly repaired this damage and the work
went on.
Meanwhile the public watched its progress
without much faith ia a successful issue
Suddenly the report was whispered about that
rich ore had been struck, and it was aston
ishing how quickly doubt and gloom were
changed TO the exhilaration Of joy.
The stock of Consolidated Virginia went up
to a fabulous figure and all the world was
eager TO obtain it, The quantities Of ore
taken justified the enthusiasm of investors
The product Of that aud the California has
simply staggered the world. In six years
they yielded in gold and silver S172, ,275, go,
and from 1875 to 1879 the dividends which
they paid were 5000, 900.
In the height of their prosperity the Con
soidated Virginia and the California seom-
pany received from the mines, as their gross
product, S5,O0O,0OO a month. Each of the
bonanza partners drew from them at one time
about S750,0OO a month as his individual
share of the profits. In six years the Com
stock lode yielded more than $500, ,OOO, 900 in
ore.
The great 'bonanza BOOM having subsidized
and the four partners having secured each his
individual share of its fruits by means of wise
investments, their interests began little by
little to draw them apart. Mr. O'Brien died
in 1879, leaving an enviable reputation for
charity and generosity and naming Mr. Flood
a. one of his executors. Mr.. Fair invested
several Of his many millions in a narrow gauge
railway running down the California coast
from San Francisco TO Santa Cruz
Mr.. Flood acquired an immense quantity Of
San Francisco real estate, much Of it in the
fairest portion Of the city. One of his most
conspicuous enterprises was the erection OF
the great building known as the Nevada
block, ON Montgomery street, in which the
offices and counting rooms of the Nevada
bank are situated. The cost ran up into the
! millions
Mr.. Floods late residence is the most mag.
nifcent in San Francisco, and it fairly rival.
those Of the Vanderbilts. 1t required four OF
five years to build it, all Of the brown stone
of which il is chiefly constructed having been
transported from the Atlantic coast The
total cost Of the mansion and its accessories Ii
said 70 have been about S5,0O0.O01
Mr.. Flood also possessed country house
at Merlo Park, neaT the Palo Alto farm Of