6775

Washoe United Consolidated Gold & Silver Mining Co. 1864 [163715]

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:50.00 USD Estimated At:400.00 - 500.00 USD
Washoe United Consolidated Gold & Silver Mining Co.  1864 [163715]
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Washoe United Consolidated Gold & Silver Mining Company Stock – Washoe, County, N.T. Incorporated in Nevada and England in 1862 and capitalized at 100,000 English pounds. One pound was worth $5.56 at that time. Cert. #512, issued to Henry Thomas Marshall in 1864 for 5 shares Datelined London December 8th, 1864 (Nevada became a state on Oct. 31, 1864). Signed by the British Directors and Secretary of the company. Embossed with company stamp. Plain white paper with embossed seal, black print and no vignette other than a decorative panel at the left side. Uncancelled. Printer not noted. 8 x 8.5.” Datelined London. Promoted in England as a “fail-safe” investment, the company's over-confident development included building 7.5 miles of canal and a 20-stamp mill in the first three years. However, it had returned no dividends and was by then on the verge of collapse. Other British undertakings in Nevada convinced investors to pay up based on the glowing reports of the success of the Washoe United venture and the richness of the Comstock, even though the properties being touted were far removed from both of those locations. The owners trusted in the geographical ignorance of their audience. [Ref: British Investments and the American Mining Frontier, 1860-1901, by Clark C. Spence, from The Evolution of International Business, 1880-1845, Vol. ll, Routledge, Taylor & Francis Group, London, 1958, 1993, pg. 62]. [ Washoe Co. Nevada 1864