Sutro Tunnel Company early Stock Certificate (108065)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:500.00 USD Estimated At:1,000.00 - 2,000.00 USD
Sutro Tunnel Company early Stock Certificate   (108065)
500.00USDto A*****0+ (125.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2019 Jul 19 @ 16:24UTC-7 : PDT/MST
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Although the plainest of the Sutro stocks, it is more important as it the earliest and the only stocks signed by Sutro himself! No. 15 for 25 shares to A. H. Evans of Washington. Datelined New York 1868. Signed by authorized agent Adolph Sutro. When money to build his tunnel dried up in Nevada, Sutro headed west to find a revenue source. This is the result of this effort. Vignette of miner with axe by Torsch. Rectangular 'Sutro Tunnel, Nevada" imprint at bottom right. Lightly struck. NOT CANCELLED! Small nick on top right edge. Otherwise in very nice condition. One of the nicest we have seen! Sutro first came up with the idea of the tunnel in 1860, got federal and state approval in 1865, and construction began in 1869. He envisioned the tunnel as taking care of the water problem that Comstock mining operations were encountering at depth. As Sutro said in his proposal, "the great obstacle to be encountered in mines is water; this is the fatal agent, which makes it only a question of time, when a mine will have to be abandoned, no matter how rich..." The tunnel was completed in 1878, too late to be of critical importance to the Comstock. Sutro sold his shares and moved to San Francisco, where he eventually became mayor.

Date: 1868
State/Country: Nevada
City/County: Sutro