Tombstone Consolidated Mines Company, Limited (Signed by E. B. Gage)

Product Details

Beautifully engraved antique stock certificate from the Tombstone Consolidated Mines Company dating back to the early 1900's. This document, which has been signed by the company President (E. B. Gage) and Secretary, measures approximately 12" (w) by 10 1/4" (h).

The vignette features a working mill with an inset of a group of miners in a tunnel.

Images

You will receive the exact certificate pictured.

PLEASE NOTE CONDITION. There is paper loss at the top, fold splits, wrinkling, and tape repairs on the verso.

Historical Context

E.B. Gage and W.F. Staunton wanted to revive mining in Tombstone, Arizona to its former glory. In May 1900, they bought 96 local claims and formed the Tombstone Consolidated Mining Company.

Frank Murphy was one of the company's major players. An experienced railroader, his goal was to get the railroad from Charleston over to Tombstone, which was needed for efficient delivery of company supplies and equipment. For years Tombstone hoped for this line.

Murphy got Phelps-Dodge to sponsor the line and work began on July 29, 1902. They used second-hand rail and the line was opened on March 25, 1903, and fully finished by January 1906.

Advanced water pumping equipment was installed. A crew was hired to run the pumps and make steam.

The Tombstone Consolidated Mining Company's success inspired others to return to mining. Soon thereafter, November 1906, a bump up in silver price also benefited Tombstone.

But, the stock market crashed. Large companies couldn't meet their payrolls. Unemployment surged.

Next year's silver value dropped over 3 cents an ounce. Tombstone Consolidated cut three mine operations, unemploying 50 miners. But the company recovered by the end of 1908, with superintendent James Macia's help.

The financing institution for Tombstone Consolidated, the Development Company of America, didn't manage funds well. To solve their problems, Tombstone reorganized, filing bankruptcy. F.M. Murphy put $40,000 into an account. To ensure his employees got their back pay and Tombstone businesses got paid. It took two years to finalize bankruptcy proceedings, and the company was eventually purchased by Phelps-Dodge for $500,000 on July 8, 1914.

E. B. Gage

E. B. Gage was a superintendent of the Grand Central Mining Company, prominent entrepreneur, and developer of Tombstone Consolidated Mines in 1901. He was a prominent mining engineer and entrepreneur and was one of the notable Tombstone residents from the early days of the towns mining boom. He was primarily responsible for the second boom in 1886 when he discovered a way to rid the mines of the flooding which ended much of the town's success in 1881.

Gage also helped transform Tempe from a sleepy rural village and organized the Tempe Land and Improvement Company. He acquired a total of 705 acres of land from Charles T. Hayden and from the Mormon settlers who had relocated in Mesa. The firm surveyed and laid out the property in blocks and lots for sale. A real estate firm was engaged to promote the sale of land. Advertising pamphlets and a colorful view map by C. J. Dyer were prepared to enhance the prospects of settlers and investors.

In 1882, after the gunfight at the O. K. Corral, Gage sent $1,000 to Wyatt Earp and his posse, supplemented by additional money and horses supplied by Wells, Fargo & Company. In 1884, a labor dispute got ugly with miners threatening to lynch Gage. Legend has it that local hotelier, prospector, and angel of mercy Nell Cashman spirited him away to safety in a buggy, although Grand Central Mining Company foreman Charles Lynch is credited with keeping the lid on things.