Comstock Tunnel and Drainage Company
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Product Details
CompanyComstock Tunnel and Drainage Company
Certificate Type
Capital Stock
Date Issued
June 25, 1968
Canceled
Yes
Printer
Goes
Signatures
Machine printed
Approximate Size
11" (w) by 8 1/2" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
The Comstock Tunnel and Drainage Company, a Virginia City, Nevada, business that resulted from the famous Comstock Lode. The area first drew attention in 1859 when gold was discovered, leading to boomtowns such as Virginia City and other long-since-forgotten mining communities.
Prospectors Pat McLaughlin and Peter O'Reilly were the first to find gold in an area called Six-Mile Canyon, but they were persuaded by Henry Comstock that they had been working part of his claim. This bold piece of deception ensured that Comstock's name would be forever linked to the history of the U.S. West.
While working these original gold deposits, miners were hindered by a blue mud that caked to their picks and shovels. Once assayed, the mud turned out to be high quality silver ore. What became known as the Comstock Lode was so rich in gold and silver that President Lincoln made Nevada a state, despite the area's sparse population, in order to tap into the region's immense wealth to help finance the Civil War. It was also instrumental in the growth of San Francisco, as well as the career of Samuel Clemens, better known by his pen name of Mark Twain.
Efforts to work the Comstock Lode peaked in the mid-1870s, after which production fell off significantly. Although mining operations of the Comstock Tunnel and Drainage Company date back to 1863 (as the Comstock Tunnel Company,) it was not until 1919 that the business was officially incorporated in Delaware.
By the 1980s, the mining operation was reduced to inactive gold and silver claims and the company's other assets limited to some historic buildings, 25 income-producing office projects, and 1,800 acres of undeveloped real estate. Its stock was only sold on a regional exchange "by appointment only," priced below $1.
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