1097

Merced Mining Company, Proprietor's Stock, Mariposa, California - Extra Rare(126744)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:500.00 USD Estimated At:1,000.00 - 2,000.00 USD
Merced Mining Company, Proprietor's Stock, Mariposa, California  - Extra Rare(126744)
SOLD
650.00USDto 5*****r+ buyer's premium (143.00)
This item SOLD at 2020 Dec 17 @ 09:57UTC-8 : PST/AKDT
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California Gold Rush. Mariposa Estate. "Proprietors' Stock" No. 17045, issued for 615 shares to Thos. H. Stevens on Sept. 9th, 1856 in San Francisco. Signed by secretary Smyth Clark and president John Wates(?). Not cancelled, but much of the stock has been repurposed. They crossed out "New York" and "London" and "Paris." Horizontal and vertical folds. Creases. 5 x 9" 25 cent IR adhesive stamp attached on the reverse. Not listed in Filer or other Holabird indexes. However, as the crossed out text on the stock refers to, this company worked with the Le Noveau Monde, another Mariposa estate mining company. In 1852, John Clement, supt. of the Noveau Monde, arrived in California to find that diggers had taken over the property that had been leased to the company. He secured a 10 year lease on the Merced Mining Company's mine and mill located at Mount Ophir, as well as their Josephine and Pine Tree mines near Bear Valley. The Merced Mining Co. had been operating for a year but were in debt. Under their agreement with the Noveau Monde, the Merced Company's debt would be repaid and all profits would go to Noveau Monde until that debt was gone. Machinery was upgraded and work progressed on all three mines. It appears though that the partnership fell through by 1856. Merced Mining Company continued to operate the mines. The Josephine vein was called "the richest in the State." The Pine Tree-Josephine group ended up producing $4 million in gold. [Ref: Money Pits: British Mining Companies in the Californian and Australian Gold Rushes of the 1850s, pg. 70-75] The rather lengthy prospectus for the "Mariposa Company" [in this auction!]in 1863 by James Hoy reported the old Merced Mining Company, that had possession of the celebrated 'black drift' in the Josephine mine were taking our ore valued at $35 to $40.

Date: 1856
Country (if not USA):
State: California
City: Mariposa Estate
Provenance:

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