Monitor, Belmont, Mining Company Stock with note to D O Mills

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:100.00 USD Estimated At:200.00 - 400.00 USD
Monitor, Belmont, Mining Company Stock with note to D O Mills
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# 777 for 50 shares to EA RIchardson. Signed by M W Hopkins and Oliver Eldridge as president. Dateline San Francisco 1875. Incorporated in May of 1872. Location of mines Philadelphia District, Nye County, Nevada. Gilt border. Crocker printer. The reverse has a piece of paper glued to it. May 5, 1875, Dr, D. O. Mills, Dear Sir, Enclosed please find 1000 shares Montor Belmont Stock please sell before 17 inst as at that state it is delinquent and oblige, (signature hard to read). Since this is 50 shares and the names do not match, we can not be positive that they are connected. The Monitor Belmont was aggressively traded throughout 1874 in the San Francisco Exchange.

The first silver discoveries in the Philadelphia district (Belmont) were made by an Indian in 1865. The following year brought miners from Austin, Ione, and other mining camps to the newly created Belmont and a ten-stamp mill was built. Belmont had access to ample wood, water, rock, and clay - not common among Nevada mining camps - and the townspeople built substantial brick and wood frame buildings. In February 1867, Belmont became the seat of Nye County. Belmont was a bustling community, with a bank, a school, telegraph, a post office, a plethora of stores and shops, and competing newspapers; the Silver Bend Reporter and Mountain Champion. Belmont's remoteness proved to be a difficulty. Delivery and freight to and from Austin was costly, and despite being one of Nevada's most important towns, many of Belmont's 2000 residents left for the White Pine district in 1868 and 1869. For four years, Belmont experienced a lull in development. In 1873, new rich discoveries were made and the 1860s mills were reopened. Belmont continued to produce until 1887, when after over $15 million the mines were closed. Prag Collection State: Nevada City: Philadelphia District, Nye County Date: 1874 HWAC# 85257