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Dahlonega Consolidated Gold Mining Company Prospectus

Currency:USD Category:Collectibles / Mining Start Price:200.00 USD Estimated At:400.00 - 900.00 USD
Dahlonega Consolidated Gold Mining Company Prospectus
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200.00USD+ (50.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Mar 17 @ 10:57UTC-7 : PDT/MST
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The Dahlonega Consolidated Gold Mining Company prospectus, 1899. 64pp soft cover (5 x 6.5”) profusely illustrated prospectus. The company had offices in Chattanooga, Tennessee and Toledo, Ohio. The president was J. W. Adams of Chattanooga, and C. B. Paul, also on the Board, was president of the First National Bank of Delaware, Ohio. H. D. Ingersoll was the resident agent in Dahlonega. The illustrations are of: Panning on Cane Creek at the Barlow Mine; Hydraulic workings at the New York Cut; the mouth of the Findlay Mine tunnel; a giant at work at the Pruitt Cut at the Hand Mine; the company dam on the Yahoola River; the Barlow Cut; the McAfee Cut at the Ayhoola Mine; Findlay mill; Knight Cut at the Hand Mine; hydraulic pipe across the Yahoola River. The company owned and operated the Hand, Yahoola, Findlay, Lawrence, Upper Cane Creek, Lower Cane Creek, Barlow, Ralston, Gordon, Ward Creek, mines; the Etowah Canal, the Hand Canal, the Findlay mill, the Hand and Yahoola Mill, and the Lawrence Mill. A folding map 9.5 x 12” of Georgia is attached in the center.

The Dahlonega Consolidated was opened with great hope for the mines of Dahlonega. Some of the best properties were assembled for this venture. Like any other mining venture, putting together all of the best properties is not always practical or economic. But Dahlonega Consolidated did put together some of the best, which included several of the largest and best mills. The setting of the offering is important. The company organized in 1899 at a time when Cripple Creek, Colorado gold properties had boomed into production, pouring about a million ounces of newly mined gold into the American marketplace. It gave hope to anyone involved in gold mining in general, and also provided the impetus for new financial investment into the field. Then, a year later in 1900, discoveries of rich ore were made in Nevada at Tonopah, and shortly after at Goldfield. These discoveries literally changed the marketplace overnight, as miners, engineers, geologists, and perhaps more importantly mine financiers moved ther efforts to the west. It seemed that a portion of the cripple Creek infrastructure moved overnight to Goldfield.



All of this affected Dahlonega Consolidated. Financed by mid-western banking interests with little or no knowledge of the mining business, the company was nearly doomed to failure. While their game plan to procure some of the best mines was admirable, their efforts at obtaining ore were not. It was a problem that has plagued Dahlonega mines for more than a century – the usual cart before the horse routine. Large mills are built at great capital expense without large bodies of proven ore to put through these huge behemoths. Management did not hire the best of practicing mining geologists, and fairly quickly, the ore that was in sight was mined, or worse, may have been proven to be uneconomic. In Nevada, Arizona, California and Colorado, mining engineers were an easily found commodity. But not in Dahlonega. It was too far away from the action.



So Dahlonega Consolidated suffered. Within a few years the mills had nearly gone to ruin, and many of the mines had filled with water and lower levels became inaccessible or caved. Without experienced management and money for proper mine exploration, the company was doomed. By 1909, Jones, in his Second Report on the gold Deposits of Georgia reported that most of these mines were inactive, as was the company. (Al Adams Gold Rush Memorabilia Collection) Date: 1899 Location: Dahlonega, Georgia HWAC# 56977