Golden Fleece Mining and Milling Company (New York)

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The Golden Fleece Mining and Milling Company (New York), probably already founded in 1879, [1] but incorporated on April 22, 1882, in Tompkins County, New York, [2] with a capital of $1,000,000, was a San Francisco Stock and Exchange traded mining company. [3]

Contents

The company operated several mining sites, including at Deadwood, Placer County, California, after driving a three thousand foot tunnel, the Golden Fleece Tunnel, and one mine near Georgetown, Clear Creek County, Colorado, [4] The company reportedly also held some interests in gold mining in Cave Creek, Arizona. [5]

In September 1892, George W. Peirce, the company's treasurer, bought the Golden Fleece Mine in Colorado for $50,000 (~$1.38 million in 2021). [6] [7] During that year the company seems to have raised its capital basis to finance its expansion. Probably the new capital stock of $600,000 (~$16.6 million in 2021) was organized under another company, which was incorporated in Iowa in 1893, under the same name of Golden Fleece Mining and Milling Company (Iowa).

Management

" ITHACA IN MOURNING. Death of the Well-Known Merchant, John O. Marsh:

…. Last April, Mr. Marsh became a member of the Golden Fleece Mining and Milling Company, and was at once elected its president. About four weeks ago, he started west on business connected with the affairs of the company, intending to be gone five or six weeks. He went first to Denver, Colorado, and after transacting some business there; continued his journey to Arizona Territory, where the property of the Golden Fleece Company is situated. It is supposed that he went first to Phoenix, Arizona Territory, and from there accompanied by Mr. S. F. Mack, the company's superintendent of mines, to Cave Creek, the location of the company's property. He then returned to Phoenix, having written one letter home meantime. Last Thursday, Mr. D. E. Marsh received a telegram from S. F. Mack, saying that Mr. Marsh was quite sick with fever but not considered dangerous, and that he was having good care. Another telegram the next day stated that the fever was typhoid, and the patient in a critical condition. Saturday morning a still more disheartening message was received, followed by another at three o'clock in the afternoon with the sad tidings that Mr. Marsh commenced sinking at ten o'clock last Friday night and died at midnight. …"

After the death of Mr. Marsh, public concern was expressed on the prospects of the company. Excerpt of The Daily Democrat, August 9, 1884, reads:

"BACK FROM ARIZONA. Mr. Mack Returns with Particulars of Mr. Marsh's Death:

Mr. Stephen Mack, superintendent of the Golden Fleece Mining Company, and who was with the late John O. Marsh, when that gentleman died, one week ago to-day, arrived in town last evening. This morning he was immediately besieged by a host of inquiring friends who were anxious to learn further details concerning the death of our lamented fellow citizen. A DEMOCRAT representative called upon Mr. Mack at his residence on Green Street, and learned the following facts from him. When Mr. Marsh arrived in Arizona he was much wearied by the long, tedious journey, and the slight symptoms of illness which he then displayed were attributed to this cause. His sickness, however, increased so long before it developed into typhoid fever, the details and sad result of which have already been published. It is not necessary to give the particulars of the long days and sleepless nights that preceded the termination of the sad affair; it is sufficient to say that Mr. Mack affirms the statement that everything within the power of skillful medical attention and careful nursing was done to relieve the sufferer. In regard to the remains of the deceased, Mr. Mack says that it will be impossible to remove them to Ithaca until cold weather, for the frontier village where Mr. Marsh died is utterly void of those improved undertaking appliances for the preservation of remains so common in the east rapidly that it was not. When asked as to the prospects of the mining company which he represented, and the stock of which is largely owned by Ithaca gentlemen, Mr. Mack did not feel at liberty to talk upon that subject, although he said that he felt satisfied that they had a good claim. Mr. Mack left Arizona Sunday morning."

The fate of the company is not known in detail, but very probably the interests and properties of the company were transferred to the Golden Fleece Mining and Milling Company (Iowa), which was incorporated 1893 under the laws of Iowa. George W. Peirce was the secretary and treasurer of both companies.

Golden Fleece Gold & Silver Mining Company, Nevada

The company should not be confounded with the Golden Fleece Gold & Silver Mining Company, Nevada, incorporated on February 2, 1875. [15] The Golden Fleece Gold & Silver Mining Company held interest in gold and silver mining at Golden Fleece Mine (Nevada), in Peavine Mining District, near Poeville, Washoe County. The company was listed at San Francisco Stock Exchange, on the Washoe Board list. [16]

Today, this Nevada company is known in connection of legal proceedings against the Cable Consolidated Gold and Silver Mining Co. in relation to some mining claims. The results of this case, held before Supreme Court of the State of Nevada, are considered to be important for prevailing case law in mining in the United States.

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References

  1. ↑ Smythe, Roland Mulville: Obsolete American securities and corporations, New York, R. M. Smythe, Vol. 2, 1911, p. 424: "Golden Fleece Mining Co. Stock dated about 1879. No value found to stock."
  2. ↑ Utica Morning Herald and Daily Gazette, April 19, 1882, p. 1: "The Golden Fleece Mining and Milling company of Tompkins county with a capital of $1,000,000 was incorporated Monday."
  3. ↑ The Morning San Francisco Call, February 3, 1892, p. 6: "The Golden Fleece Mining Company has levied an assessment of $5 per share and the Butte King one of 3 Cents per share."
  4. ↑ "Gold mines and mining in California: A new gold era dawning on the state .."; G. Spaulding & Co., 1885, p. 270-271.
  5. ↑ Daily Democrat, Aug. 4, 1884: Death of the Well-Known Merchant, John O. Marsh.
  6. ↑ Richard Walker Holmes, Marrianna B. Kennedy: Mines and minerals of the Great American Rift (Colorado-New Mexico), Van Nostrand Reinhold, 1983, p. 180-185; ISBN   0-442-28038-6, ISBN   978-0-442-28038-3.
  7. ↑ Engineering and Mining Journal, vol. 145, 1944, p. 102 (ISSN 0095-8948, CODEN ENMJAK).
  8. ↑ Corregan, R. A.; Lingane, D. F.: Colorado Mining Directory: Containing an accurate description of the mines, mining properties and mills, and the mining, milling, smelting, reducing and refining companies and corporations of Colorado. Denver: Colo., 1883, p. 320 [908 pp.]. Here Mr. Peirce was given by mistake as "Geo. W. Pence"
  9. ↑ Mining Directory and Reference Book of the United States, Canada and Mexico, Chicago, Ill., Poole Bros., 1892, p. 209. Here Mr. Peirce was given by mistake as "Geo. W. Pence".
  10. ↑ Corregan, R. A.; Lingane, D. F.: Colorado Mining Directory: Containing an accurate description of the mines, mining properties and mills, and the mining, milling, smelting, reducing and refining companies and corporations of Colorado. Denver: Colo., 1883, p. 320, [908 pp.]
  11. ↑ THE RISING STAR. Issued Monthly. John B. Bradner & Co., Publ. July 15, 1889. Information about the newspaper The Rising Star can be found here:
  12. ↑ Anderson, M. M.: The Mining Camps: Salina & Summerville. A mining and social history, 1859–1919, with many references to the Switzerland Trail of America railroad, 2006, 442 pp., ISBN   0-9772230-0-0). More information on the book can be found here:
  13. ↑ The New York Times, August 12, 1928, p. 27: "THOMAS BLAKE CAMPBELL; Builder of Many Cornell Buildings Dies in Huntington".
  14. ↑ Poole, Murray Edward: The History of Edward Poole of Weymouth, Mass. (1635) and His Descendants. Ithaca, N.Y.: Press of the Ithaca Democrat, 1893, p. 116-117.
  15. ↑ Details on the company are held at the Nevada State Archives. Information on out of business companies are summarized here: [ permanent dead link ]
  16. ↑ King, Joseph L. (1910). History of the San Francisco Stock and Exchange Board (Wall Street and the Security Market). p. 373. Retrieved April 18, 2020.
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