2260

Washoe Gold & Silver Mining Company No. 1 Stock Certificate (116707)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:600.00 USD Estimated At:1,200.00 - 2,500.00 USD
Washoe Gold & Silver Mining Company No. 1 Stock Certificate  (116707)
SOLD
800.00USD+ (176.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Apr 17 @ 12:09UTC-7 : PDT/MST
SHIPPING & HANDLING: Shipping is subject to a minimum charge of $19.00. Shipping and handling cannot be estimated prior to invoicing as it is based on the size and weight of your purchase. Additional shipping and handling costs, if required, will be re-invoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size.SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size a...
This extremely rare stock was issued at the beginning of Nevada Territory (established March 1861). Incorporated June 11th, 1860. No. 79, issued for ten shares to Nathaniel Page on August 17th, 1861 in San Francisco. Signed by president Nathaniel Gray and secretary David Jennings. Not cancelled. Black border and print, two vignettes: mining scene in the mountains (top center) and scale (bottom center). Printed by Butler & Leonard's Lith, SF. Pinholes, folds, very fine condition. According to the 1861 SF Directory, Nathaniel Page was a commission merchant with Soule & Page. President Nathaniel Gray is listed as an undertaker. Secretary David Jennings is a grocer with Fordham & Jennings.

This company was an important early player on the Comstock. It was organized and run by Almarin B. Paul, Gold Hill banker, friend of George Hearst, and inventor of the "Washoe Process" for extracting gold and silver from ores. Paul operated a mill in Nevada City and visited the Comstock in the fall of 1859. He took samples from the Ophir and Mexican mines back with him to evaluate, and was so convinced of his milling process and the ore's richness, that he organized the company in March 1860. He was able to secure contracts by promising the mill would be in operation in only 60 days, which they were able to do (History of Nevada, Elliott).

"The Washoe Gold and Silver Mining Company, No. 1, have just completed, and have in operation, their quartz mill at Devil's Gate; being the first Steam Quartz Mill in operation at Washoe" (San Joaquin Republican, Volume X, Number 195, 17 August 1860).

In an October 1860 article, the company's mills are described in more detail: "There are two quartz mills in Silver City, besides a miniature one with two stamps, and a third and fourth building. The first started was that belonging to the "Washoe Gold and Silver Mining Company, No. 1," under the superintendence of Mr. Paul, formerly of Grass Valley. It runs four of Howland's batteries, eight stamps to the battery, and uses Knox's patent amalgamators. Its capacity is twenty-four tons in twenty-four hours. The same Company are building a mill about half way between Silver City and Gold Hill, which is to run sixty-four stamps and will use the same amalgamators. It was rapidly going up a month since, and a good portion of the machinery was then on the road. The other mill of the Company was started on the 13th of August." (Sacramento Daily Union, Volume 20, Number 2989, 25 October 1860).

Other articles note their success and influence on generating more excitement to the Comstock. An article titled "A Gold Bar of Extra Fineness" reports that: "The finest bar of gold yet extracted from the ores of Washoe was taken out last week by Paul, at the works of the Washoe Gold and Silver Mining Company, No 1. It run as high as $12 36 per ounce, and was valued at $2,200 (Sacramento Daily Union, Volume 20, Number 3101, 6 March 1861).

One other mention of the company was found in newspapers the following year: "So far as regards the storm, a letter dated 12th January, from D. A Jennings, secretary of the " Washoe Gold and Silver Mining Company, No. 1," confirms in nearly the same words, excepting that he calls to witness " the oldest Indian." But it also adds that the damage to the Company's mill (Paul's Mill), at Silver City, will not amount to over five hundred dollars. To their large mill at Gold Hill the damage was so slight that that it would be again at work in two days. The mill on the Carson River (late Holmes & Logan's mill), in which the company are interested, will also be at work so soon as the water falls low enough to allow the race to be dug out. The loss consists in hay, lumber and damage to office, while the mill escaped any particular damage." (Daily Alta California, Volume XIV, Number 4354, 21 January 1862).

With its ties to the earliest Comstock mills and the "Washoe Process", this is one of the best Comstock Nevada Territory stocks we've ever offered.

Provenance:
Country (if not USA):
State: Nevada
City/County: Comstock, Silver City
Date: 1861