4564

King's Mountain Mining Company stock

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:50.00 USD Estimated At:100.00 - 200.00 USD
King's Mountain Mining Company stock
SOLD
70.00USDto T*****e+ buyer's premium (17.50)
This item SOLD at 2018 Dec 08 @ 15:54UTC-8 : PST/AKDT
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# 360 for 100 shares to Alfred Peckham. Signed by WS Nichols and president AG Curtin. Dateline New York 1878. Incorporated September 1877. Seal vignette. Dennison & Brown printers. Not cancelled. Dog ear bottom left. Two pinholes top right. Otherwise no edge, corner of discoloration issues. The King's Mountain Mining Company was organized on the 5th day of September 1877 under the laws of the State of New York. The company owns in fee clear of all incumbrance about 580 acres of land. The mine was discovered in 1834 and for a period of nearly thirty years was worked by the old Carolina method. In 1860 it fell into the hands of Commodore Stockton of New Jersey who began two shafts on it; the first deep shafts ever sunk on the property. Before reaching a sufficient depth to penetrate the hanging wall into the deposit the war broke out and the property was confiscated. At the time this mine passed into the hands of the present company; five additional shafts were sunk by different owners and at the 110 and 210 foot levels of the Briggs shaft considerable ore was stoped and breasted over $150,000 having been taken out in eleven months. The Dorsey shaft also raised considerable ore from the 113 foot level. These works were all badly planned and badly timbered and have been abandoned. The present company has sunk a new shaft 300 feet. From this adrift has been driven 135 feet which cuts the vein. Assays run all the way from $15 to $402 per ton. The forty stamp mill has been reconstructed and will work the ore to near its assay value." [United States Annual Mining Review and Stock Ledger, 1879] Prag Collection State: North Carolina City: Charlotte Date: 1878 HWAC# 81917