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Inyo Consolidated Mining & Milling Co. of California Stock Certificate, Panamint, 1882

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:200.00 USD Estimated At:400.00 - 800.00 USD
Inyo Consolidated Mining & Milling Co. of California Stock Certificate, Panamint, 1882
SOLD
200.00USD+ (50.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Mar 16 @ 16:49UTC-7 : PDT/MST
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Ultra rare. Incorporated in New York, 1881. Cert. #1280 issued to George Proudfoot, Trustee for 100 shares in 1882. Signed by N.G. Fairman, secretary and W.A. Gildersleeve, president. U.S. Grant Jr. signature on reverse. Underground mining vignette. U/C. Folds, some creases. Gildersleeve became captain of New York volunteer infantrymen during the Civil War. He gave an address at Gettysburg (1898) on the dedication of the memorial of the Dutchess County Regiment, of which he was captain. He attended law school after the war, and he became a New York Supreme Court Justice. This was one of the most important mines at Panamint. It was originally formed by John Jones and his fellow Comstock millionaires (Mackay and Fair). They were hoping it was going to be the next Comstock. They raised significant capital to develop the mine, but they later found that it did not meet expectations as the vein faulted off and they couldn't find the extension. Rather than participate in stock manipulation, the Comstock group wanted to legitimately make money the "Heart Model," i.e. by extensive actual mining. With the vein faulting off, they quietly sold out the mine to a group of New York investors who were headed by U.S. Grant, Jr. son to the president. The back of the stock bears US Grant Jr.'s signature, identical to his fathers. Some thought his association with the company was purely a speculation tactic, but the New York investors did continue the mining operation. The new company did better than expected but the hope for a new Comstock boom was never realized. (Al Adams Gold Rush Memorabilia Collection) Date: Location: Inyo County, California HWAC# 59025