Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1902-09-13

higher. for Il WAS said that the bonanza ex-
tenced over the Cons oHdated Virginia In
SUCH way as to give the California mine
the larger part. California share worth
so In September rose to $3.50 IN January,
1910, making tho valuation OF that mine
SS4.2f0.oo0. The 1910 feet on the lode which
mad been valued i've years before at SO. 900
or so CO., was now worth In the market. ac-
oording 10 stock sales. about $50 600. COO"
OF the estimated value of the ore
In sight at this time, Mr.. Shinn says:
Now that the Pacific coast was stirred
with the great news, estimates OF the actu-
al ore in sight began to be In order have
alluded 20 the first Newspaper estimate OF
about Nl6.Ooo00O. Next came Mr. Disdes-
heimsr. the inventor OF the 'scNlare-set sys-
tenn, and one OF the most careful mining
engineers on the Pacific coast He reported
to the directors that there was 81 300 COO 600
In sight. and added that each mine ought Ia
pay In dividends 5000 q share under prop-
er management. little later he gave
proof OF his faith In his own report by nut
ting every dollar he could raise into shares
In the two mines at the highest price Even
the director of the Carson mint with his
assistants, who examined the bonanza
was unable 70 fix any definite umit TO its
Yield. and thought there was not leSs than
<SOo,0Oo.oco already IN sight. Mackay, how
ever. miner OF unsurpassed Judgment. ut
terry refused to make any estimate and
hatly said II was an impossibls task be-
cause barren masses OF rock. porphyry, the
difnoulty OF obtaining accurate axsays and,
many other elements of uncertainty made
calculation absurd. He preferred 70 mine
1t out frst and then take the milling re-
turns"
But the days OF tho great Bonanza.
and, in fact, of the whole Comstoclx
lode, are virtually over. Mackay and
his associates became miliionaares.
and he and James G. Fair have since
then played prominent parts in other
walks OF life. They got out OF the
lode before the fall came OF the pres
ent conditions Mr.. Shinn says:
~After 1879. the close OF the bonanza
period came with exceeding swiftness
The stock OF the 80 mines on the lode, val
ued in 1875 At over $685., 900 900, sank in Feb
ruary, 1880. to something less than 81 OOa :
600. California sold for N-2S share and
the Consolidated Virginia for $l-9O aud so
on down the forlorn list How had thu
mighty fallen! Tho Great Bonanza, aftar
yielding In i've years nearly $1O6 oc0 900 wa q
exhausted. ana nothing even approaching
In value TO the earlier group OF ore bodies
has since been discovered. Hundred. AZ
Thousands OF tons OF low-Erade rock have
been taken out OF lonE-neElected portions
OF the mines and worked at q profit xmau
DIVIDENDS have been paio by q few mines
and the working efficiency OF the lode Ia .
been well maintained. There may Sa rev
bonanzas In the depths or new grain. Of
natal hidden IN huskS Of porphyrV huf
nothing OF striking Importance has sInos
been found. Once more the endurance of
the mine owners ana Of the tswns on th.
lode Is being severely tested. California
eeAGeo paying dividends In 1879; ConsolidA4
Cd Virginia paid its last dividend in 1850
Fourteen years Of borrascahA W ruined
successive stockholders. have caused The
decay OF once populous mining towns. mi
have. IN short. come near to breaking ms
hearts Of the hravespld CsmstoeksrA- g