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Wilbur Mining Company, Limited

$7.00

SKU: 7454

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Product Details

Intricately engraved antique stock certificate from the Wilbur Mining Company, Limited dating back to the early 1900's. This document was printed by Goes and measures approximately 11" (w) by 8 1/2" (h).

 

This certificate features a great vignette of a detailed mining scene. An underprint of allegorical Justice appears at the bottom center.

The images presented are representative of the piece(s) you will receive. When representative images are presented for one of our offerings, you will receive a certificate in similar condition as the one pictured; however dating, denomination, certificate number and issuance details may vary.

    Historical Context

    The Wilbur Mining Company, Limited was founded on November 24, 1906 in Wallace, Shoshone County, Idaho and was in operation from 1906 until 1930 when it was taken over by the Western Union Mining Company. The incorporators were Allen J. Olson, Peter O. Swanson, John J. Hougs, John Mickels, Olaf M. Peterson and Fred Johnson. These six men, along with Otto A. Olsson, and D.E. Wherry, represented, at different times, the five board of directors from 1906 to 1912. During this time the Wilbur mine was listed and functioned as a non-producing mine.

    The primary function of the Wilbur Mining Company was to develop and operate mines and mining property. This included mining, milling, smeltering, manufacturing and selling ore retrieved from the mine. Ores were to include: copper, iron, gold, silver, zinc and lead.

    From its beginning in 1906 until 1912 the only recorded actions by the Wilbur Company included the selling of capital stock at a value of one dollar per share and four assessments levied on that capital stock. Between the years of 1912 and 1923, the Wilbur Mining Company made no recorded actions. In 1923 a new set of directors took over: Carlton Fox, E.F. McKechnie, H.O. Solum, Ommie Solum and Otto A. Olsson. Throughout the next seven years the board of directors also included, at one time or another, Harry W. Marsh, H.J. Steuart, H.H. Miller and A.T. Jenkins.

    The new board of directors lowered the value of the capital stock to twenty-five cents a share. They also purchased six claims from Herbert C. Solum for one dollar in January of 1924, and leased tunnel No.3 from the Western Union Mining Company for 300,000 shares of treasury stock. Besides these large business actions, yearly assessments were made on the capital stock.

    In 1930, the Western Union Mining Company, which owned two thirds of the Wilbur stock, approached Wilbur Mining Company and requested the transfer of all property to their company. On October 2, 1930, the Wilbur Mining Company transferred all property to the Western Union Mining Company and was on that day dissolved as a mining company.