Mohave County miner and our mineral wealth., 1921-10-21

F. Albert Morrison, in a recent is sue of the Financial News of Los An geles, writes some "reminiscences of early mining booms, which we are re- publishing below. MT. Morrison is a successful broker of Los Angeles and is deeply interested in the Katherine section:
 While the early California gold boom in the "fifties" contributed its share of sudden fortunes to prospect ors and miners, it was not until the days of the Conlstock,. Cripple Creek and Goldfield booms that stock ex- changes became leading factors in contributing wealth to people in every walk of life who had the courage to invest in stock issue of these gold camps. The Comstock, Cripple Creek and Goldfield booms, with their sys- tems of stock exchanges, provided this medium of trading in which profits in the form of dividends or increased property valuation could be partic- ipated in by the banker, merchant or mechanic as well as by the miner. Many a man who could not tell you if gold were taken from adobe, bed rock or quartz found way through the stock exchanges to invest in is- sues that often started him on his way to financial success. During the eariy-day gold mining of California the person who had few dollars and wished to try his hand at mining or to participate in the enormous profits found therein had to go out in the hills and stake his own claim-likewise in the Klondyke boom-and unless one understood the principles of mining in those days his chances to win were far less than in the stock exchange days of the Goldfeild, Cripple Creek or Virginia City booms, in which the Comstocks alone produced over $327,- 100000. Wise investors who had the foresight to invest their money in the stocks of these enormously productive mines laid the foundations for as many fortunes.
 Today in San Francisco a score or more buildings and successfully estab- lished businesses are the direct results of these mining stock ventures when the fortunes of the Fairs, Floods, Mackays and O'Briens were in the making, and at which time $100 in vested in Virginia Con. increased in value to $4O,OO0 in two years. Few realize that the Postal Cable and Tel egraph Company's president, Clarence H. Mackay, is the son of John w. Mackay, its founder, who fifty years ago was working in the mines of Vir- ginia City, Nevada, and conceived the idea that by deep mining, second en- richment would be found and he worked night and day until he per suaded James G. Fair and associates to advance sufficient money to work out this theory. He succeeded and made millions for himself and asso- ciates. The Con. Virginia mrne alone produced over one hundred and thirty three million dollars, while the total production of the Comstock mines was around $327 ,421 ,0O0. Think of it! Three hundred and twenty-seven mil lion four hundred and twenty-one thousand dollars in gold and silver Indispensable products, yet not inex- haustIble ones! John w. Mackay with his money later organized the Mack ay-Bennett Cable Co. which laid the first Atlantic cable. The School of Mines at Reno, Nevada, is also one of the many monuments resulting from the courage and efforts of this masterly Argonaut.
 In the early days of Goldfeld fortunes were made by producers, yet many fortunes were made in mining stocks by people following other vo-