3581

Panamint Consolidated Mining Company (86710)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:200.00 USD Estimated At:400.00 - 900.00 USD
Panamint Consolidated Mining Company  (86710)
SOLD
600.00USD+ (132.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2019 Jan 26 @ 15:05UTC-8 : PST/AKDT
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# 28 (very early) for 100 shares to trustee JF Greeman. Signed by Daniel Buck and president Harris. Dateline San Francisco 1875. Incorporated Feb. 12, 1875. Not cancelled. No vignette. Britton & Rey printer. Pin holes throughout. Bottom cut roughly. Still nice.
The Panamint Consolidated Mining Company was established in the early 1870’s by two Nevada senators, J. P. Jones and William Stewart, who were heavy investors in Virginia City, Nevada mines. It was located outside of Panamint City, which is now a ghost town. The following is an excerpt from the Saturday, January 9, 1875 "Napa Register" quoted (http://www.ghosttowns.com/states/ca/panamintcity.html) “In this district [the Panamint Mines] are noted for the immense richness and width of the ledges on the surface. How they will hold out at a considerable depth is problematic, none of the mines being developed to a depth of more than fifty or sixty feet, at which depth they hold good. It is the opinion, however, of many mining experts that they will be permanent to a great depth. Among the principal mines are Jacob's Wonder, now being worked, the company employing some twenty-five or thirty men in the mine and around their mill. They have a small five-stamp mill for concentrating the metals, which will be sent to San Francisco or some other point to be reduced. The mill is expected to commence running in a short time. Stewart's Wonder is another promising mine, but not worked at present. The Wyoming, Venus, and Great Sunrise are being worked. The Mountain View, Esperanza, Hemlock, Panamint, and Hudson River are among the prominent claims which are lying idle at present. There are numerous other mines in this district of great promise, but being held by men of small means are not developed sufficiently to attract much attention". Prag Collection State: California City: Inyo County, Panamint District Date: 1875