My Adventures with Your Money

enwater

Company. The capitalization was 3,000,000 shares of the par value of $1 each. The stock had been underwritten at $1 a share by New York and Pittsburg Stock Exchange houses, had been listed on the New York Curb, and had climbed to around $5.50, or a va

eld, who were in touch with all Nevada mining affairs, did not know about it? Goldfield promoters soon began to give attention. Shortly they caught the infection. A stampede from Goldfield into Greenwater ensued. In fa

Greenwater & Death Valley appeared to be a giant success in the Eastern stock markets. Charles M. Schwab was reported to be behind the flotation of Greenwater & Death Valley. Montgomery-Shoshone and Tonopah Extension, two other Schwab enterprises, were selling at hundreds of per cent. prof

o commit the trust company to any issue in the new camp. Not to be entirely out of it, howev

ts per share, with a million-share capitalization, was reported to be getting the benefit of Mr. Clark's personal market handling on the New York Curb, and the shares soon reached a high

promoters were named as Malcolm Macdonald, Donald B. Gillies and Charles M. Schwab. J. C. Weir, the New York mining-stock broker, who was conducting through the mails a nation-wide market-letter campaign in favor of Green

company was capitalized for $25,000,000, with 5,000,000 shares of the par value of $5 each, and the East was reported to be eating up the new stock "blood raw." The president of this company was Charles R. Miller, who was president of the Tonopah & Goldfield Railroad Company, and the vice-president was M. R. Ward, the redoubtable brother-in-

with Philadelphia and Pittsburg branches where the Schwab crowd was influential, at $1.80 per share, and that large blocks w

INTO T

ere actually suspected at the outset by mining men in Goldfield to be wildcats, was the signal for an outpouring in quick succ

os Angeles and New York the Furnace Creek Consolidate

ation of $5,000,000, and also the Butte & Greenwater, capitalized for $1,500,000. Malcolm Macdonald the "hero" of Montgomery-Sho

pany, promptly headed a new one, the Furnace Valley Copper Company, with a capitalization of $6,250,000. These s

s organized the Greenwater Bimetallic Copper Company. "The

ns for the Greenwater-Death Valley Copper Company. (The title of this compa

000. Hon. T. L. Oddie, later Governor of Nevada, then of Tonopah, and his brother, C. M. Oddie, followe

with a high-class Tonopah crowd on the directorate. Eugene Howell, cashier of the Tonopah Banking Corporation, of which United States Senator Nixon was p

alcolm Macdonald, who in turn had interested the Schwab coterie in the organization, put ou

is one of the integrals of the Goldfield Consolidated, headed the Greenwa

OPPER IN

irector of the Greenwater Furnace Creek Copper Company, with a capitalization of $1,500,000. The prospectus of this company announ

own figures as to the size of its ore-bodies, the first 100 feet in depth on this wonderful property would carry upward of 20,000,00

great consolation to the shareholders. It is indeed lamentable to note that this magnificent mine, which carries, according to the c

nt to stockholders in the shape of dividends, pushed out the Greenwater Red Boy Copper Company and the Greenwater Saratoga Copper Company, with a capitalization of $1,000,000 each. Thomas B. Rickey, president

reenwater Ely Consolidated, Greenwater Sunset, New York & Greenwater, Greenwater Etna, Greenwater Superior, Greenwater Victor, Greenwater Ibex, Greenwater Vindicator, Greenwater Prospectors', Greenwater El Captain, Greenwater & Death Valley E

dent, and Richard Sutro, then head of the world-known New York banking house of Sutro Bros. & Co., was advertised as first vice-president. Henry E.

nwater? Yes, and at

the property of the Furnace Creek Copper Company, the original location in the camp. Our engineer reported that if "Patsy" Clark's Furnace Creek Copper Company, shares of which were selling in the market at a valuation of

to operate the property. The capitalization was 1,250,000 shares of the par value of $1, of which 5

to E. A. Manice & Company, members of the New York Stock Exchange, whose officers are located in the same building in New York as J. P. Morgan & Company. We offered for public subscription 100,000

APSE OF

se of as many as 30,000 shares. Neither did the stock offered later by the Sullivan Trust Company through brokers in other cities

ng of the bubble. Mr. Turner had invested in the Greenwater camp on the reports of an engineer. He organized the Greenwater Central Copper Company. Then he decided that it was advi

more payments on the property. Do not use

sued by a noted bank crowd in Philadelphia who were loaded up

, Arizona, California and other points came piling into the Greenwater camp to examine the properties. Soon a chorus of adverse opinion

that the American public sank fully $30,000

er-and the American public may well congratulate itself that the boom "busted"

of th

ave been dismantled of their machinery and other equipment, and not even a lone watchman remains to point out to the desert-wayfarer the spot on which was reared

it with the name of Charles M. Schwab as a lure, at a valuation for the property of more than $3,000,000, and then ballooned the price on the curb until the shares sold at a valuation o

in-law, are morally responsible. Not for an instant do I entertain the thought that the Stock Exchange crowd and Mr. Schwab realized that the mines of the company were absolutely valueless,

ME AND

van Trust Company did not touch a Greenwater property until its clients and its clientele among the brokers throughout the Union had burned up the wires with requests for a Greenwater promotion, an

g the Goldfield boom, and whose palms had itched for the "long green" that for so long came the way of men on the ground. These, at the first signal that the Greenwater boom was on, with Charle

e true state of the public mind regarding all Greenwaters by actually selling at a valuation of less than the amount of money in the company's treasury-6 cents per share on an outstanding issue of 3,000,000 shares-there