Silver Islet Cons. Mining & Lands Co. Stock --Island Silver Mine! (104289)

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:50.00 USD Estimated At:100.00 - 300.00 USD
Silver Islet Cons. Mining & Lands Co. Stock --Island Silver Mine!   (104289)
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A unique kind of silver mine! This company operated a silver mine on a small island called Silver Islet on Lake Superior in northwestern Ontario. The Montreal Mining Company discovered a rich vein of silver there in 1868. The island was tiny: approximately 50 square meters and only 2.5m above the waters of Lake Superior! The company built wooden breakwaters to keep back the waves. They used the crushed rock from their mining to build up the size of the island. Eventually, a community sprung up on the opposite shore. There were two small bonanzas (in 1870 and 1878) before being reorganized as the Silver Islet Consolidated Mining & Lands Company in 1877. Unfortunately, a shipment of coal didn't arrive in late 1883 and the pumps were no longer able to keep the seawater out. The mine flooded and failed in 1884, the time this stock was issued. No. 5782, issued for 100 shares to JW Thorpe on March 24th, 1884. Signed by vice president BE Strong and secretary C.A. Trowbridge. Not cancelled. Black border and print, no vignette. 6.5 x 9" Heavy folds, toning, assessment receipt attached to the front. It yielded an impressive $3.25 million in silver over its lifetime and some very rich silver specimens. [Ref: Thunder Bay Museum] Ken Prag Collection

Date: 1884
State/Country: Canada
City/County: Ontario