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Pacific Refinery & Bullion Exchange Bullion Memorandum; Owned by the "Bonanza Kings" 1876 [166947]

Currency:USD Category:Collectibles / Mining Start Price:500.00 USD Estimated At:1,000.00 - 3,000.00 USD
Pacific Refinery & Bullion Exchange Bullion Memorandum; Owned by the  Bonanza Kings   1876  [166947]

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This is an exceptionally rare bullion receipt originally sold out of the John J. Ford Collection. The officers of the company--listed in the upper left corner of this document--are Wm. S. O'Brien as president, John Hewston Jr. and supt. and assayer, and F.H. Day as Cashier. Yes, this is the same WS O'Brien that was one of the four "Bonanza Kings" of the Comstock (along with Mackay, Fair, and Flood). O'Brien and Flood largely remained in San Francisco while Mackay and Fair ran operations on the Comstock Lode. O'Brien's name does not appear on many documents we've handled. _x000D_
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March 17th, 1876 bullion receipt for deposit by AD Tower (a Wells Fargo agent in Nevada City). 67 ounces, 969 gold fineness. Bottom states "Coin AD Tower Nevada" on a/c John Hussey (a mine owner in Nevada County). 5.25 x 12" Red print. Many folds, soiling (especially on reverse)._x000D_
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The Pacific Refinery & Bullion Exchange was incorporated October 5th, 1875. "The purposes of the incorporation are assaying, refining and trading in precious and useful metals and their ores. Jas. C. Flood, Wm. S. O'Brien, Jas. G. Fair, G.R. Wells and JH Granger are the Directors" (Los Angeles Herald, Volume 5, Number 10, 7 October 1875). So, 3 of the 4 Bonanza Kings were on the board (only Mackay is absent). And it was formed right at the height of processing the fabulous "Big Bonanza" ore from Virginia City, Nevada! The Bonanza Firm had created the Pacific Mill & Mining Company as a consolidation of their milling and assay facilities after the 1873 Bonanza discovery. This SF assay office represents them extending their reach and wealth out of Nevada (they also formed the Nevada Bank of San Francisco at this time)._x000D_
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An article in August 1876 announces that JG Kellogg and John Hewston Jr. (formally of Kellogg, Hewston, & Co.) are now associated with this business which "is in their old place of business" (yes, it was the same building). "Having a large capital at command and unusual facilities, they can make quick payments in coin or returns in bars. The reputation of the old house will commend the new association to the public" (Morning Union, Volume 19, Number 2982, 5 August 1876). Kellogg and Hewston appear from that point on in advertisements from 1876._x000D_
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O'Brien died in 1878. His estate was managed by James C. Flood. In 1879-80, stockholders of the Con. Virginia Mining Company (one of the two mines associated with the Big Bonanza ore body) sued Flood, the estate of WS O'Brien, and the Pacific Refinery & Bullion Exchange (and other "Bonanza Firm" associated companies) for allegations including excessive refining charges on Comstock ore (done by this assay office). This suit tied up the estate of WS O'Brien._x000D_
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In 1879, this business and property were bought by Selby Smelting & Lead Company._x000D_
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This fascinating document tells a new part of the story of the Bonanza Kings' complete control of the Comstock after the Big Bonanza discovery: from mine to mill to assay to banking, they had their hands over all parts of the process._x000D_ San Francisco California Franklin Collection