The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1913-08-09
GREAT MINING FORTUNES

fecf tnaf more RWd ma been U lLOu n ground nan Ia ever 81 taASA
out Of it has again appeared IN print Sd sptagenanan whose ooynooo
days were spent in Virginia City among the ComstOck bOnanzss, the other
night at the Racquet and Tennis Club. as he laid aside the paper ne had
been peru5ng. ret his cigar and fitted MS body into the accommodating
Iuxuriousness Of a leather covered lounging chair.
As matter Of fact. ne continued, mo more fragrant untruth
has ever become a maxim. ard that is a pretty strong statement. for ex-I
perenee has convinced me that most socaned maxims are untrue and as
little worthy Of credence Is our presentday brOmides. However, we must
70 go u te queuoh aU0eener, +" pdraphr@ halis LauUTi Au
viii content myself by asserting there has not been a much gold put into
the ground : has been taken out of it, and viii offer you my proofs nsub-
sanitation of that statement.
Thousands of we-meaning people and newspapers have repeated
the ridiculous old saw that have quoted and have accepted it a gospel
without question; yet the fact is that the Comstock mines alone, with an
aggregate production of approximately s6O00Oo. have yielded more of
the precious metals than a contained in all the dollars that have beenex-
pended in all Of the gold and silver producing districts on this continent.
There has been hoisted through the Consolidated Virginia shaft. which
100000 worth of gold-zlver ores. The dividends paid by the ConsoH-
dated Virginia Mining Company amounted to the stupendous sum of nearly
sS4170OOO.
The fortunes dug from the depths of the Consolidated Virginia have
been instrumental in the rearing of many cities that front the Pacific Coast
and Pacific oceans; have played an important part in the connecting of the
two oceans by rail; have bolstered the credit Of a nation in time of war and
yet to-day they participate as actively in the carrying N Of the worlds af-
fairs as they did several decades ago. when the spendOr of Nevadas silver
star was first seen in the constellation of the States.
That the element of financial risk enters into the business Of mining,
l will grant you. although will not concede, numerous ignorant or in
spired' writers to the contrary notwithstanding, that the percentage of
risks is any greater than attaches to any other investment
The hazard associated with the mining industry is no greater, where
modern economical methods are employed. than in any Of the multfaiousl
industries which go to make up the commerciaism of the world. Mining
is a business just the same Is manufacturing steel IS a business and, EfuIy
assaentifc abusness. 1t has been made 50 by the adoption OF proper bust
ness methods and improved machinery, and the employment of expert gee
olOgsts and chemists. 1t IS true that ever since the auiferous gravels of
Pactolus were discovered most of the great mining finds of the world can
be traced to men having little book knowledge of geolgy, but it is also true
that no prospector ever developed 9 mine without the aid of technically
trained miners. I'll equally true that asthe golden sands of Pactolus made
Croesus the richest man of his time, sothe fortunes in precious metal laden
ores extracted from the earth since that momentous event have been and
are numbered with the largest ever accumulated by man. l viii cite few
of them:
THE Guggenheim brothers have amaseda fortune estimated at $780,
100000 as a direct result Of their mining and smelling operations. The
Hearst estate, which has al estimated value of 100000. had its genesis
in the mining operations of the elder Hearst in Nevada and other Western
States. The estate left by James g. Fair had a value of 81, OO, 600 and, as
you doubtless know, has been merged in a measure with the fortunes Of
the vanderbIhs and the Oelichs by marriage. Senator Fair dug his mil
lions ont ~ n Comfnck lode The MarcuS DAILY OrtmP which is eSi
mated at s25. cocoon. was dug from the hilsof Montana The W. A. Clark
fortune. a generous slice of which has found investment in New York City,
is estimated at SIS 100000 1t owes its being to the mining industry.
Samuel Newhouse, known the world over IS a successful operator of
mines and smelters, began his career on a hoestrng in Leadvnle, Colorado.
His fortune is estimated at several millions. and is represented by mines
and shelters in Colorado. Utah and Arizona
Captain De Lamar has a fortune of 5000 900, represented by mines
and shelters in Utah and other localities.
The Sharon estate has a value of s2O,OO0,OOO, and represents a wealth
extracted from the Comstock lode.
The :. 3. Haggin fortune, which is estimated at $50 10000, was ex-
tracted from the cOmstOck lode in Nevada and the HOmestake lode in
South Dakota.
The Walsh estate has a value in excess of s0OOOO. Tom Walsh
had nothing but his Drawn and brain to back him when he discovered the
treasures of the Camp Bird mine. You will remember that ultimately the
late King of Belgium became his partner.
John W. Mackay made more than SIS, 900. 900 on the Comstock lode,
and passed an even greater sur than that or to his son. The latter, a.
worthy o of a worthy father, has added greatly to his inheritance, is one
OF the worlds foremost business mn M is noted for his philanthropy.
He is still financially interested in Nevada mining affairs. Likewise he has
remembered the University of that State and has endowed literally. 1t
is fitting that others who owe their immense wealth to the mines of Ne
vada should follow his example.
George Wingfed, president of the Goldfed Consolidated Mines Com
pany which owns what was once the highest grade gold mine in the world. has
a fortune Of approximately 100000. every dollar of which has been ac
cumulated since the discovery of Goldfed.
1.-The late James Lick, one of the picturesque group of mining million
aires, whose fortunes were instrumental in the upbunding of beforehand
afterthe-quake San Francisco, accumulated in excess of s10.0 600 as a
direct result of his mining operations in Nevada and California.
The late William S. 0Bnen, another of the early San Franicans,
made a fortune of sl0OO0OOO by his mining operations in Nevada.
"A B. Emery, a well known mining man, left his wife a fortune of
S10.0 0O,O 600 when he died.
the moment are those of David Keith, Walker Brothers. E. l. Rockwell,
Frank Campbell and James Finch. bye the Bye in New York Mining Age.
The Ghost Wont Down