The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1889-11-08
IN BONANZA DAYS.
When All California Was Wild in the Hum
fOr


When All California Was Wild in the Hunt
for Wealth.
The report that Mrs Mackey, wife
of the California millionaire, had en-
tered suit against an English news
paper for publishing the statement
that her mother was washerwOman.
has revived talk about the old bonanza
days on the Pacific coast. One of the
California colony. who makes his
headquarters at the Gault House,
chatted pleasantly about those times
the other night. did you ever
KNOW" said he, ''that it was in sa-
loon on Washington street, San Fran
cisco. that the bonanza princes of the
coast laid the foundation of their
wealth? 1t was kept by Flood and
OBrien. and was a great resort for
the truckmen in the neighborhood.
Occasionally an old winner, who had
come down to the bay, as they called
it, to have a good time, visited the sa-
loon; and among them was Mackey
and Fair. who soon picked up an ac-
quaintance with the proprietors.
Flood and OBrien had some money to
invest in mining stock, and it was
agreed that Mackey and Fair would
furnish the points and they would all
stand in together.
The syndicate soon grew, and long
before the bonanza was discovered, or,
rather. known to the public. the stock
of the Consolidated Virginia and Con-
solidated California, then selling very
low, was largely held by the four. and,
in fact, they controlled the majority of
the shares.
When it became known to the gen.
eral public that an almost inc xhausti-
BILE body of ore assaying up in the
thousands and estimated as being
worth billions of dollars had been dis
covered in the two great Comstock
mines, San Francisco went wild with
excitement. Shares that were selling
at $50 to $40 jumped in week to $40.
and. though beared from day to day
by brokers for speculative purposes,
their value kept on increasing until
they were, in March, 1876, worth 81, 800
each.
The failure of the Bank of California
had no effect on the passion of gam
bling in mining stocks, and money
was just as plentiful as ever in the
early part of 1876 Consolidated Vir-
ginia alone was putting out 100000
a month. and the entire yield from the
Comstock lode for the year was $75,-
O00,OO In this year Bonanza shares
had reached the top notch, being sold
for close On 81. 400. They went down
considerably the following year, and
were watered. but the mania for spec
ulatiOn was strong as ever. A young
lad of sixteen named Kuchel stole $780,
900 worth of stock from DR.. Fox. a
millionaire broker, who was paying
him $50 month while allowing the
boy to handle millions. BY speculat-
ing with the stolen securities the bow
made 100000
lad, when arrested, told the detectives
he had lost all he had made. In court
he broke down and cried bitterly, and
enlisted the sympathy of the judge,
who gave him only five years in States
prison. He was pardoned out in a
year on account of good conduct and
his gallant efforts to put out fire in
the prison. On being set free he cool
y told the warden of the prison that
his mother had $1,000 of the money
he had made. and that he was going
over to Germany, where she was, to
help her spend it.
There were multitudes of tragedies
connected with the bonanza days, and
suicide was epidemic. The records of
the cOrOner's Office showed that two
per cent of all the deaths in the CITY.
including infants, were those of sui
cides. Among the prominent ones was
that of Sandy Austin, the city
treasurer He was supposed to have
made a few millions. had town resi-
uOhCO anu u HdS uiHCouG uuduSlOu LII
San Meteo County, near that of Sena-
tor Stanford. He was extremely pop
ular and a shrewd politician. One
morning, in his bedroom at his coun-
try residence. without apparent cause
he blew his brains out. An examina-
ton showed that he had lost all his
own money. and, in an effort to re-
cover it $4,000 belonging to the city.
IN. Y. Star.