4172

Pacific Mill & Mining Co. Revenue Check Pair Signed by Mackay & Fair [163898]

Currency:USD Category:Collectibles / Mining Start Price:75.00 USD Estimated At:150.00 - 200.00 USD
Pacific Mill & Mining Co. Revenue Check Pair Signed by Mackay & Fair [163898]
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Lot of 2. Each is on the check form with green print and RN-D imprinted revenue. 1) No. 131, issued to the Virginia & Gold Hill Water Co. in 1875. Signed by John Mackay. Rare to see Mackay's signature on this check type. 2) No. 883, issued to Derby & Gerhart in 1875. Signed by James G. Fair. Both checks have light stains. The Pacific Mill & Mining Company was established by the "Bonanza Firm" in the 1870s - a partnership formed by Irish immigrants, John W. Mackay, James G. Fair, James C. Flood, and William S. O'Brien, men who later became known as the "Silver Kings" or "Bonanza Kings" of the Comstock. The Bonanza Firm challenged the broad control Ralston and Sharon exercised over the Comstock Mines, backed by the Bank of California, by joining their finances in various stock operations and transactions, leading to the formation of a new group of mining corporations. These included Hale & Norcross, Gould & Curry, Consolidated Virginia, and others. In their campaign against the "Comstock Bankers" the Bonanza Firm adopted tactics similar to those Ralston, Sharon and the Bank of California used the previous decade to gain control over the Comstock; The Bonanza Firm purchased all the major mine suppliers, and in 1877 the group established an "independent" mill, the Pacific Mill and Mining Company, which was wholly owned by the "Bonanza Firm" and incorporated under the Laws of California. The company owned a number of other mills in the Comstock area including the Bacon Mill, Brunswick Mill, California Mill, California Pan Mill, Consolidated Mill, Mariposa Mill, Morgan Mill, Occidental Mill, Omega Mill, Rhode Island Mill, Trench Mill, and the Woodworth Mill/Ditch. Later, the Bonanza Firm successfully defended monopoly accusations and shareholders claims of fraud involving the Pacific Mill and Mining Company, by arguing that their business practices represented "industry custom."

Date: 1875
Country (if not USA):
State: Nevada
City: Virginia City
Provenance: