White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-03-05
PROMOTER RICE
STILL SEEKS
.L|MEL|GHT
my ADVENTURES WITH YOUR
MONEY"-FROM THIRTY CENTS
TO A MILLIONAIRE AND BACK
AGAIN TO COFFEE AND.

George Graham Rice is writing the
Dtory of his life, the first article
making its appearance in the issue
of the magazine Adventure" which
is offered to the public today. At
present. the author of his own ad-
ventures in the world of frenzied
finance with other peoples money,
is in the down and out class; but gay
and debonnair as ever this phase of
his fortune does not worry him in
the least. He believes in himself
and has thorough confidence in his
ability to make killing in some
other calling since the mining game
has been closed to him by the
sleuths of Uncle Sam. Rice has
done more financial ballooning than
was ever ascribed to "Get-Rich-
Quick Wallingford. and has played
for and made higher stakes than
that easy-money making sure
thing" gentleman.
Rice claims to have engineered
the Goldfeld boom. He did; he
made Goldfield; he made Rawhide.
He made the mistake of his life
when in engineering the Ely Central
he went up against some of the big
gest men in the game. He had a
mine in the Ely Central possessed of
greatest potentialities of any of the
properties he had ever handled. We
out here know that; of his manipu-
lations of the stock on Wall street
we know nothing save what has
oozed 10 us through the eastern pa
pers from time TO time during the
progress of the governments case
against him for illegally using the
mails. Rice. after playing the min
ing game in Nevada, had one am
bition in life and that was to get into
Wall street. He got there and like
many a man before him, that was
his finish.
He made the boast in Nevada that
if he had 1000, 900 he would make
Tom Lawson look like a dirty duce
in new deck. He believed it, He
went there with Rawhide Coalition
and rode the stock to $1.5O a share,
and then some of his erstwhile as
sociates in this state jobbed him.
Suit was started by Warren Miller,
former partner, for a one-half in
teest in all Rice's holdings, includ-
ing Rawhide Coalition. Immediate
ly the stocked dropped to rs cents
share and that was but the starter
on the downward trend. Incidently
there was a bunch in Reno away
short on the stock, and they made
up a sufficiently large cleanup to
retire from business and also the
state. 1t is not certain whether Rice
lost much or little on that deal. He
kenw of the suit as quickly as did
anyone else in New York, perhaps
his wire was little the swiftest. At
any rate, soon afterward he came to
Nevada and brought with him one of
the latest models of French auto
mobile.
1t was on this trip that his at
tention was attracted to Ely Central.
Copper stocks were then on the
boom. and he wanted copper prop
erty. The stragetic position of Ely
Central with relation to the Nevada
Consolidated struck him Immediately
and he made a deal with the Pheby
Bros. and o. A. Turner whereby
he got the property on easy pay
ments. Before the deal was consum-
mated, before there was an oppor-
tunity given for getting the outstand-
ms ohO'h AhAo "a PoVis tNiNC StdAtC0
his boom, sending the stock above a
dollar where before it had been
hanging around 80 cents. He realiz-
ed his mistake and sent the price
down again. When everything was
in shape to suit him. he started on
the Ely Central boom for fair and
the stock went by leaps and bounds
to $4.25 a share. Then came the
first crash
Rice is supreme egoist. He be-
lieved that he was now one of the
biggest men in the game on Wall
street. In the Mining and Financial
News, he doomed his ow stock
Most favorable reports were made
by engineers whose integrity could
not be questioned; the location of
the property alone was sufficient for
the speculative public, and the cop
pers were the favored speculative
securities; and real mining work
was being done on the property.
With everything in his favor Rice
made the mistake of swatting every
bedy else's stock. He attacked
them all, and through the medium
of his paper these attacks hurt. The
result was that one morning the
Mining and Engineering Journal of
New York gave Rice and Ely Gen.
trail a broadside of his own sort, and
the stock never stopped going down
until ii reached I 5 cents in price.
ii is said by those who were in
New York at the time that the on
slaught never feazed Rice. although
they had him close to the borderland
of hankruntey Ely Central was too
highly thought of and too well