SOLD
160.00USD+ (40.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2023 Apr 02 @ 09:48UTC-7 : PDT/MST
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Prospectus of the McLean Silver Mining Company of Montana 1865: BARLOW, William M. Philadelphia: J.B. Chandler; small 8vo in printed self-wraps entitled The McLean Silver Mining Company of Montana 1865, Philadelphia, 8pp, rebound in light blue buckram, contemporary gilt-lettered spine laid-down. Authored by William H. Barlow, secretary and treasurer of the McLean Silver Mining Company, this prospectus encourages the purchase of shares of the Eaton and Aurora silver lodes in Beaver Head County in the territory of Montana. Head of operations at the mine was Samuel McLean, the Montana delegate to Congress from 1865 to 1867. The company is capitalized at $1,000,000; 100,000 Shares at $10 each. PRESIDENT, EDWARD E. JONES, VICE PRESIDENT, HON. S. (Samuel) McLEAN, SECRETARY AND TREASURER, WILLIAM M. BARLOW. DIRECTORS: EDWARD E. JONES, HON. S. McLEAN, JACOB HAY, GEORGE H. ROBERTS, WILLIAM W. LEDYARD, J. G. GILL, J.C. DELACOUR. Company office located at 429 Chestnut St., Philadelphia. The mining property of the Company consists of the Eaton and Aurora Silver Lodes, each containing 1200 feet or 2400 feet in all; situated on Rattlesnake Creek, a never-failing mountain stream flowing into the Beaver Head River, a tributary of the Jefferson Fork of the Missouri, in Beaver Head County, Territory of Montana, on about the 45th parallel of latitude, and 36th degree of longitude west from Washington, or nearly opposite the town of Montana, and thirteen miles distant from Bannack City. Assays were made by Prof. A. H. Eaton, of New York, Prof. Torrey of the New York Assay Office, and Prof. F. A. Genth of Philadelphia. The results ranged up to $1678 in Silver and up to $1251 in Gold per ton. The famed Mess. ADELBERG & RAYMOND, Mining Engineers, New York, say:† We assume that the Lead ores will yield $75 in Silver to the ton, and the† Silver ores $500. These figures are moderate enough, since, according to our† assay, the Silver ores contain $913 to $2040 specie value. "The Company have sent a mill of twenty-four stamps to the mines and expect returns in silver in September. This mill will be able to crush thirty tons of ore per day, at an expense for mining, crushing and smelting, of ten ($10) per ton. Then, taking the yield at only $60 per ton, the result would be as follows: 30 tons per day, at $60, $1,800 Cost, $10 per ton, 300 Net daily profit, $1,500 Or $450,000 per annum, payable, not in currency, but in the coin itself." Only twenty thousand shares are for sale. Eberstadt 132: 449. Fine condition. Samuel McLean was the prosecuting attorney for Carbon Co., PA in the period 1855-1860. He was born at Summit Hill, PA on August 7, 1826, he attended the select schools of Wyoming Valley, PA and then Lafayette College in Easton, PA, where he studied law. In 1849, he was the first Carbon County native to be admitted to the Pennsylvania Bar after which he established a practice in Mauch Chunk (now Jim Thorpe), PA. After his term as prosecuting attorney for Carbon Co., he moved west and in 1860, Samuel McLean was the attorney-general of the provisional Territory of Jefferson (later Colorado), and it is believed he resided in Denver [Wolle (1963), pp. 61]. In 1862, he moved to Bannack, Montana where he joined the Montana Territory gold rush. According to Wolle (1963), it was the discovery by John J. Healy and George Grigsby in 1861 of the placers on the Salmon River near Florence, Idaho Territory, that brought men to the area, including Samuel McLean, who at the time was in Denver, then part of the Jefferson Territory. He organized a party of men and set off for Idaho by way of the Overland Trail and Fort Hall. Another party, organized by Captain Jack Russell, also left Denver about the same time, and eventually met McLean's party at Fort Hall. The two parties went together to Fort Lemhi, Idaho Territory, and while they were still more than 125 from Florence they discovered that the Salmon River was too wild to use to go downstream to the placers. They joined about a thousand other miners who were also stranded in the Lemhi Valley. [Wolle, Muriel Sibell (1963), MONTANA PAY DIRT: Guide to the Mining Camps of the Treasure State. Denver: Sage Books]. When Montana entered statehood in 1864, Samuel McLean was elected as a Democrat to the 38th and 39th Congresses of the U.S. and served from January 6, 1865, to March 3, 1867. He was president of McLean Silver Mining Co. in 1870, and after expiration of his term in Congress, he returned to Easton, PA seeking local investors in his McLean Silver Mining Company. While in Montana, Samuel McLean lived in Bannack and in Virginia City where he was known as "Colonel" McLean. James Knox Polk Miller, in his diary, edited by Andrew Rolle (1960), includes an entry for September 1, 1865: "For five hours last evening I wrote a copy of the Montana Territorial Laws Regulating Elections, without intermission finishing at one o'clock this morning, for which I received from Col. McLane [McLean], the Democratic candidate for Congress, 7th District, $7.00 in gold dust." [Rolle, Andrew (1960) THE ROAD TO VIRGINIA CITY: The Diary of James Knox Polk Miller, pp.80]. Spence (1889) claims that as a member of the 39th Congress, Samuel McLean was known as Montana's "Talking Delegate," a hard-drinking, fun-loving, and "gay old boy." He was reported to weigh 300 pounds. [Spence, Clark C. (1975), TERRITORIAL POLITICS AND GOVERNMENT IN MONTANA, 1864-1889, pp. 41-42]. REFERENCES: 1. Rolle, Andrew (1960) THE ROAD TO VIRGINIA CITY: The Diary of James Knox Polk Miller, pp.80. Norman, Oklahoma: The University of Oklahoma Press. 2. Spence, Clark C. (1975), TERRITORIAL POLITICS AND GOVERNMENT IN MONTANA, 1864-1889. Chicago: University of Illinois Press. 3. Stout, Tom (ed.) (1921), MONTANA ITS STORY AND BIOGRAPHY 3 vols., Chicago: Vol I pp. 207, 218-19, 281-82, 286. 4. Wolle, Muriel Sibell (1963), MONTANA PAY DIRT: A Guide to the Mining Camps of the Treasure State. Denver: Sage Books. Heaston C47-7-09-08
Date: 1865
Country (if not USA):
State: Montana
City: Beaverhead County
Provenance:
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
Preview
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Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.375% |
Nevada Sales Tax |
| CSST |
7.25% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
25% |
Additional Fees:
Shipping Details:
SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction, with 24 hours notice given to HWAC prior to pick-up.
Payment Details:
Due on receipt of invoice.
Accepted Payment Methods:
- VISA
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- AMEX
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TERMS AND CONDITIONS
This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
1. The placing of a bid shall constitute the bidder’s acceptance of these terms of sale.
2. BUYER’S PREMIUM & INSURANCE: There will be a 25% Buyer’s Premium added to the sale price (hammer) of each lot. We accept cash, checks, money orders, wire transfers, credit cards and PayPal.
3. COINS, CURRENCY AND PRECIOUS METALS, Insurance. The buyer’s commission for this section is 20.5%. Coins and currency shall be defined as any regular Federal issue circulating coins and currency. Tokens are not considered coins. Precious metals shall be defined as ingots, silver or gold rounds, bullion items and gold nuggets. Mineral specimens are not considered under the precious metals category. Commemorative items such as metals and ribbons are not considered coins of precious metals. However, lots that consist entirely of gold or silver of high purity, including commemorative metals, are considered precious metals. Please contact our office if you need clarification on a specific lot.
4. SALES TAX: Sales tax may be applicable in any of the 50 states according to current tax laws regarding internet sales. Please check your state's tax regulations. HWAC will charge sales tax for those states that we know have instituted internet sales tax. All bonafide resale dealers with a current valid resale license should submit their license in advance to HWAC.
5. SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction, with 24 hours notice given to HWAC prior to pick-up.
6. LIVE (FLOOR) BIDDING: Please arrive a few minutes early to check in and receive your bidding paddle. We will open lots with more than one bid at the current high absentee bid or 50% of the low estimate at the auctioneer’s discretion. Please be sure to bid on the correct lots during the live auction. Our auction progress is at a rate of between 60 and 150 lots per hour. An item is not sold until the next lot is announced. (We are not responsible for Internet bids that arrive late.) The auctioneer will identify the successful bidder by number and announce the winning bid amount. If you are not sure whether you won the lot or not, it is your responsibility to ask for clarification immediately, prior to the start of the next auction lot. Auctioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale.
7. TELEPHONE BIDDING: Telephone bidding MUST be scheduled prior to this auction. If you do not schedule in advance, and choose instead to call on the day of the auction to request a line for bidding, you may find that we are unable to accommodate your request. Please limit your telephone bids to items of value greater than $500, or to a string of items with a similar total.
8. LIVE AUCTION ABSENTEE BIDDING: Mail or FAX Absentee bids for the live auction MUST be received by 5pm Pacific Time the day before the auction. Bids accepted after the cutoff time will be represented live only if an agent is available and will not be considered absentee or given first priority as such. It is your responsibility to submit all lot numbers and bid amounts accurately. Absentee bids MUST be equal to at least 50% of the low estimate if an estimate is provided. Bids on “No Lots” or “Withdrawn” Lots will not be executed. Bids made in amounts that do not conform to the bid increment table under Item #13 will be automatically rounded up or down by the computer, or rounded to the nearest proper bid increment at the discretion of the auctioneer. Absentee bids are entered into a computer that will bid live on your behalf at the auction. Absentee bids will compete live against other absentee bids, live internet bidders, floor bidders and phone bidders.
9. INTERNET BIDDING: Both Absentee and Live Internet bidding are available through our live auction networks. If you wish to bid LIVE via the Internet, you MUST pre-register. A live feed is generally accessible during the auction. Online bidding remains open through the live auction, and online absentee bids may be placed anytime. Live bidding will open when the auction starts. Internet bidding is offered as a convenience for those who cannot attend the live sale. Please note that there may be delays or interruptions in Internet connectivity that are beyond our control. Attending the live auction or arranging for an agent is the most reliable way to secure your bids.
10. NEW BIDDERS: Bidders unknown to us, who anticipate an expenditure in excess of $20,000, must provide commercial references or a deposit of 25% of the amount to be bid in order for the auction staff to execute bids. Deposits will be credited towards lots won and any balance will be refunded within 10 business days after the auction has concluded. New bidders will be given a spending limit at their initial request to participate. In order to increase this limit, you may be required to provide a letter of authorization from your bank in addition to providing references. Please contact our office at any time if you have questions regarding spending limits or references required to bid.
11. AGENT BIDDING: There are numerous professional agents available to assist you should you require this service. Please contact the office for a list or to arrange for representation on the floor during the live auction. HWAC is not responsible for any acts or omissions by agents acting on behalf of bidders at our auctions.
BE ADVISED: Auction participation through the live Internet bidding site is not 100% foolproof. The technology for this process is always changing, and the operation of it and the corresponding Internet connectivity issues are far beyond our control. Some folks have attempted to use the live Internet bidding process as their primary method of bidding, and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, Internet signals may be delayed, such that bids may not be received in time. We cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live participation is best, followed by phone participation. We will not reopen lots for missed bids.
12. RESERVES: Most of the lots in this auction are unreserved. Precious metals may be reserved at or near or slightly below spot, at the auctioneer's discretion.
13. BIDDING INCREMENTS: All bids must be submitted in U.S. dollars and in whole dollar amounts only in the appropriate increments as outlined below. If you choose to submit bids in an increment not listed below, your bid will be rounded to the nearest increment and you will be expected to pay the amount to which the bid was rounded should your bid be the winning bid. If you have any questions about an appropriate bid amount, please call us.
14. BID REDUCTION: All winning absentee bids will be reduced, if necessary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if you submit an absentee bid of $1000 and the next highest competing bid is $250, then you will win the lot for $275.
15. BID INFORMATION: Collectors often ask in advance the price level of a particular lot. We will give out the current competitive high absentee bid until we close the day before the live auction. You may also view absentee bids online at www.holabirdamericana.com. While we try to update the absentee bids as often as necessary, bids received close to the bidding deadline might not be reflected online, and we disclaim any responsibility for any bids made in reliance upon inaccuracies on our website, which may be beyond our control. We do not own any of the live Internet bidding platforms, and thus many aspects of the Internet technology are out of our control.
16. BID CANCELLATION: If you wish to cancel or change a bid after you have submitted your bids to us due to an error, you MUST PHONE us to advise us of this. Bid cancellations through mail, email, or faxes are not advisable. Errors are easy to make. Please call us if you have any questions on this.
17. All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
18. We reserve the right to reject any bid we feel is not made in good faith.
19. INVOICING: Invoices are mailed or emailed within two business days after the close of all portions of the sale. Within 15 calendar days of receipt of invoice, payment is due in full to Holabird Western Americana Collections, 3555 Airway Dr., #308, Reno, NV 89511. Late fees may be added if payment arrangements are not made within those 15 days. Sales tax will be added to all sales picked-up after the auction or shipped to Nevada addresses, according to Nevada State law, unless a resale certificate is provided.
20. PAYMENT: We accept Cash, Visa, Master Card, American Express, Discover, Money Order/Cashier’s Check, Wire Transfer, Personal Check or PayPal. All returned checks are subject to a $25 fee. Cash received in amounts greater than $10,000 is subject to the filing of IRS form 8300, as required by law.
21. Automatic Credit Card Billing: Internet bidders are subject to the payment terms and conditions outlined on the internet bidding platform they utilize, which may include the automatic payment of auction invoices with the credit card information on file at the time of registration.
22. NON-PAYMENT: HWAC reserves the right to cancel any invoice not paid in full within 15 days. A cancelled invoice does not relieve the bidder from their obligation to pay seller fees and buyer’s premiums compensating HWAC for its services in conducting the auction. Interest shall run on all outstanding balances at the highest rate permitted by law. HWAC shall have a lien against the merchandise purchased by the bidder, and any other of bidder’s property then held by HWAC or its affiliates, to secure payment of the invoice, and with respect thereto HWAC shall have all the rights of a secured creditor under the Nevada Commercial Code, including but not limited to the right of sale. HWAC may sell the lot(s) securing the invoice to any under bidders in the auction that the lot(s) appeared, or at subsequent private or public sale, or relist the lot(s) in a future auction conducted by HWAC. A defaulting bidder agrees to pay for the reasonable costs of resale (including a 10% seller’s commission, if consigned to an auction conducted by HWAC). The defaulting bidder is liable to pay any difference between his or her total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot(s) less the 10% seller’s commissions, if sold at an HWAC auction. If HWAC refers any invoice to an attorney for collection, the bidder agrees to pay attorney’s fees, court costs, and other collection costs incurred by HWAC. Any bidder who fails to follow the terms of payment will be reported to iCollector, Live Auctioneers, Invaluable, or applicable bidding platform, and may be barred from participating in future Holabird Western Americana auctions.
23. CONDITION: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot please contact our office at 775-851-1859. Bidders are responsible for understanding the condition of items. Conditions noted are subjective, and may differ person to person. High resolution images of all items are available online for inspection. HWAC is not responsible for condition discrepancies; it is the bidders responsibility to determine condition prior to bidding.
24. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. ALL SALES ARE FINAL. You may only return any piece that was significantly inaccurately described by calling our office within 10 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. When we receive your bids we will assume you have read the description in the catalog, viewed the image of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person.
25. This sale is being held under the laws of the State of Nevada.
26. HWAC shall not be held responsible for any problem due to the bidder’s failure to follow the rules, terms and conditions of this sale, or any failure to bid due to the loss of the online auction process provided by any of the online auction networks; or missed bids, changed bids or cancelled due the bidder’s failure to follow the proper bidding procedure outlined herein.
27. By placing a bid or otherwise participating in the auction, Bidder accepts these Terms and Conditions, and specifically agrees to the dispute resolution provided herein.
28. HWAC shall not be responsible for consequential damages, incidental damages, compensatory damages, or any other damages arising or claimed to be arising from the auction on any lot. Bidder’s sole remedy for any proven act or omission shall be rescission of sale and refund of the amount paid by Bidder.
29. Any claim, dispute, or controversy in connection with, relating to and/or arising out of the Auction, participation in the Auction, award of lots, damages of claims to lots, descriptions, condition reports, provenance, estimates, return and warranty rights, any interpretation of these Terms and Conditions, any alleged verbal modification of these Terms and Conditions and/or any purported settlement shall be exclusively heard by, and the parties consent to exclusive in personal jurisdiction of, the Superior Court of Washoe County, Nevada. The parties expressly waive any right to trial by jury. Any claim must be brought within one (1) year of the auction from which the claim arose or the claim is waived. In every case, the prevailing party shall be entitled to an award of its attorney’s fees and costs.