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Sutro Tunnel Ephemera, Adolph Sutro [171664]

Currency:USD Category:Collectibles / Paper Start Price:1,250.00 USD Estimated At:2,500.00 - 3,000.00 USD
Sutro Tunnel Ephemera, Adolph Sutro    [171664]

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Three pieces of the history of the Sutro Tunnel:

1) Sutro Tunnel Company stock certificate #47 for 30 shares issued to Joseph Goodman of Virginia, Nev., dated October 15, 1868. Signed by Adolph Sutro as Duly Authorized Agent of the Association known as the "Sutro Tunnel Company." Pen cancelled. Black border and print. Vignette of a Sutro with a pick axe (left). 25 cent U.S. IR stamp at bottom left, pen cancelled. No pinter listed. 6.5x11".

Joseph Goodman was the owner/editor of the Territorial Enterprise in Virginia City, Nevada and who gave Samual Clemens (Mark Twain) and William Wright (Dan DeQuille) their start as writers; Clemens/Twain later went on to take his place in history by cracking the Mayan code and writing several books, such as The Prince and the Pauper.

The initial incorporation was for 12,000,000 shares; 120,000 shares for $100 per. There were many additional issues of common and preferred stocks, as well as bonds, in order to finance one of the largest mining projects in the United States.

As the Comstock's mine shafts grew deeper they began to encounter large amounts of water that had to be pumped to the surface at great expense. 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...". Adolph Sutro's tunnel solved the problem by blasting a large horizontal tunnel right through the rock of the neighboring Mt. Davidson and straight into the heart of the Comstock mine, allowing mine water to drain through the tunnel without need for a pump. Progress was slowed by resistance from major mining interests, fearing Sutro would use the tunnel to take control of the entire lode. It drained some two million gallons of water from the mines per year.

After a long struggle with William Sharon, Banking Baron of the Comstock, the railroads (the competing V&T RR), the tunnel finally traversed the four mile underground route from the town of Sutro, near Dayton, and intersected the Savage Mine on September 1, 1878, almost 11 years after it was started in 1869! As the richer sections of the Comstock Lode had been tapped out by this time, the mine declined in profitability.The Tunnel was to have served multiple purposes: Ventilation of the mines, a downhill exit for draining the mines of water, an easy conveyance for ore down to the Carson River mills for refining, and bringing supplies up to the mines. By 1877, the Comstock Mines having peaked, Sutro continued to hype the project and raise funds through various stock sales. Sutro eventually sold out, making millions, and moved to San Francisco where he eventually become mayor.

2) Sutro Tunnel Company articles of Agreement Broadside, 1866. Very rare. Elephant folio broadside. Printed by Towne & Bacon, Book and Job printers. Minor tears. First edition with 18 articles and 4 signature blocks at the end, spaces left blank for signatures. Extremely rare.

The agreement would be between William M. Stewart, D.E. Avery, Louis Janin, Jr., H.K. Mitchell and Adolph Sutro. The Agreement preamble notes that the Legislature of the State of Nevada gave Sutro and his associates the right of way and authorized the construction for a Mining and Drainage Tunnel, approved February 4, 1865. The date on the form is left blank for day and month but has 1866 preprinted. The articles cover obligations of both parties, define the tunnels location origin, structure and development, a commitment of at least $3,000,000 in subscriptions by August of 18867, etc. Early in the proposed project William Sharon, representing The Bank of California, and other in the "Bank Ring" supported Sutro. However, once they realize dhow much Sutro was going to charge each mining company, they quickly denounced and blocked Sutro's attempts to raise the necessary capital. Article 14 spells out that $2 per ton shall be paid by the mining companies. Sharon and the Bank Ring quickly started on a railroad, the Virginia Truckee RR, that woudl capture most of the ore transportation revenue to the Carson River Mills below the Comstock mines of Virginia City and Gold Hill for themselves instead of Sutro.

Armstrong Nevada Printing History 418: "'200 copies on newspaper,' 50 on 'fine paper,' and 60 on 'Parchment" were printed by Towne & Bacon; the bill was for $187.75, including an unspecified amount for 'alterations,' was entered on march 31, 1866, in the company's daybook, volume 15 at CSt." Armstrong locating only 4 copies of the three issues. This being the fine paper issue.

3) Adolph Sutro business card: "Adolph Sutro" "Sutro Tunnel. Nevada, U.S." Black on white.
Includes printed newsprint explanation of the Sutro tunnel Company dated October 4, 1869 in Virginia City. This was the public notification of the Sutro Tunnel project published in the newspaper in Virginia City.

Franklin Collection. Nevada Franklin Collection