Gray Eagle Mining Company Stock Certificate (104414)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:50.00 USD Estimated At:100.00 - 200.00 USD
Gray Eagle Mining Company Stock Certificate   (104414)
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Location: Placer County, California (printed at center bottom). Inc. in 1885. No. 1166, issued for 400 shares to Thos. Horton on Dec. 5, 1895 in San Francisco. Signed by president Harrison and secretary W. Gurnett. Not cancelled. Black print on yellow paper. Heavy folds and creases, soiling. 4 x 9.25" From The Forest Hill Divide’ October 15, 1892: "The Gray Eagle Mining Company started in three miles below the Dardanelles and three miles above the point where the Middle Fork of the American river cuts the divide. They have spent $150000 in experimenting and have shown conclusively within the last two years the existence of the Blue lead at this point. Seven miles more of this ancient river course are thus accounted for and given over for future development. The Gray Eagle,—As noted this is the most recent enterprise on the divide. The property was first prospected through a shaft 375 feet deep and a short drift and incline 150 feet more to the bedrock. Thus justified, a tunnel was then run from the western slope in Owl Creek Canyon 2675 feet; an incline 165 feet long on 1/3 pitch brought them to the bottom of the channel, and the old workings and exposed both rims. The tunnel is the working passage. At the top of the old shaft are the old hoisting works, no longer used except the engines, which furnish steam to drive the hoist and the pump below. One ten-inch Hooker handles all the water at present. A north gangway has been driven 300 feet. The breast is carried forward about 60 feet wide and four feet high. The gravel, in places showing a thick sprinkling of free gold on the walls, is generally of a very fair quality and gives indications of improvement with the progress of the work. The mine cannot be said to be fully opened up as yet by any means as the channel was only struck in July, but no anxiety is expressed as to its future. The ten stamp steam-mill, completed the latter part of June, is running but ten hours a day for the present. T. G. Durning is superintendent." Ken Prag Collection

Date: 1895
State/Country: California
City/County: Placer County