The Hale and Norcross

Date Uploaded: October 25, 2024

Permanent Link: http://wnhpc.com/details/fb836471025352825

Contributor: Western Mining History on Facebook

Source: Facebook: Western Mining History

Source URL: https://www.facebook.com/photo/?fbid=836471025352825&set=a.498466462486618

Source Caption: This ca. 1870s photo depicts the Hale & Norcross shaft at Virginia City, Nevada. This was one of the original mines on the Comstock Lode. The history of the mine is summarized by a historical marker at the mine site:

Founded in 1859, the Hale & Norcross contained about 400 feet of original Comstock Lode located between the Savage and Chollar Mines. In 1868, a fierce stock battle was waged for ownership over this property.

At the time, the mine was thought to be barren and was in the hands of William Sharon and the Bank of California (Wm. Ralston). Local miners John Mackay and James Fair were convinced the mine had been poorly managed, but would produce good ore if properly worked. The two formed an alliance with former San Francisco saloon owners James Flood and William O’Brien, and with $50,000 of borrowed money secretly began buying Hale & Norcross stock.

Sharon, known as the “King of the Comstock” was rarely bested in mining matters, but was caught napping when the stock raid took place. At the annual stockholders meeting on March 10, 1869, the four men now known as the Bonanza Firm, holding a majority of the stock elected themselves trustees of the Hale & Norcross Company.

The gamble had paid off and the four netted over $500,000 from this deal alone. Their biggest victory however, came four years later with the discovery of the Big Bonanza in 1873.

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