Monte Cristo Mining & Milling Co. Stock Certificate (104450)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:75.00 USD Estimated At:150.00 - 300.00 USD
Monte Cristo Mining & Milling Co. Stock Certificate   (104450)
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Inc. in Colorado. No. 6055, issued for 20 shares to Parish on Aug. 8, 1881 in Denver. Signed by MM Pomeroy as president and secretary AS Whitaker. Not cancelled. Small certificate designed to look like currency. Black border and print, green background, and Colorado state seal vignette. Printed by Collier & Cleaveland, Denver. 3.25 x 7.5" Folds, very fine. Mark “Brick” Pomeroy (1833-1896) was a newspaper tycoon who moved to Denver and started a new newspaper called The Great West. This paper eventually had the largest readership in the Rocky Mountains. His greatest undertaking was to build a five mile long tunnel between Georgetown and the western flank of the Rocky Mountains to Denver; a tunnel that would find rich veins along the way and later serve as a railroad tunnel. It was called the “Atlantic-Pacific Tunnel Co." An estimated $3,000,000 was raised and construction was underway. The giant project started well and one mile of tunnel was completed. Several ore bodies were found. Pomeroy’s three story mansion in Denver became the talk of Colorado and contained a theater, art and mineral gallery, lecture hall, and imported furnishings. The tunnel project eventually came to a halt when technical problems occurred, followed by the Bank panic of 1893. Once Colorado’s most popular and wealthiest citizen, Pomeroy was left destitute and forgotten, dying a few years later in 1896. An important western figure who was dubbed “Colorado’s Fabulous Failure” [Carl Swift]. Not listed in C&L. According to a Feb. 19th, 1880 article in the Fairplay Flume announcing its incorporation, the company had purchased the Monte Cristo Mine and adjoining Comstock Mine in the Pollock District, Summit County, Colorado. The company also held bonds on the Alma and Warren, two adjacent claims.The properties were located at the headwaters of the Blue. The Monte Cristo is described as having a vein of ore 300 feet wide with 40 percent galena, 16 ounces of silver, and $6 of gold to the ton. There are 80,000 tons of ore in sight. The article ends with this: "If this property is as represented, it is, in its richness, one of the great marvels of Colorado." Ken Prag Collection

Date: 1881
State/Country: Colorado
City/County: Summit County