why was the comstock lode important

The wealth created by the Comstock Lode caught the attention of . The Comstock Lode, which produced over $300 million in gold and silver over a twenty‐year period, was discovered in 1859 in western Nevada. With a total population of perhaps 25,000 people at its height, Storey County, which encompassed the Comstock, by 1900 had only 3,560 souls. Where was the Comstock Lode Discovered?-Sierra Nevada. Like all great deposits, the Comstock Lode did many things; it broke Nevada away from Utah, it pushed mining technology ahead by leaps and bounds, it was critical in kick-starting the study of hydrothermal alteration, it brought the . Adolph Sutro was forever seeking challenges. Once it was on the valley floor, the wood was transferred to the Virginia and Truckee Railway, itself one of the Comstock's engineering marvels, where it was transported to supply the square set timbering. Buying on a declining market, the bank, represented by its man in Virginia City, William Sharon, gambled on the district's future and won. Tonogold controls nearly 4 km of the strike of the Occidental . In the next few years, they imitated Sharon's policies, although Mackay managed to retain the personal popularity in Virginia City that Sharon lacked. It was the first major silver discovery in United States history: of the ore taken out from the district, best estimates are that 57 percent was silver, yet it was a considerable gold camp, given that the Stockholders received dividends of $115,871,100, but out of 103 mining companies reporting, only fourteen were responsible for this payout. Drawing on the work of hundreds of volunteers, students, and professional archaeologists, Virginia City: Secrets of a Western Past shows how every detail—from unearthed artifacts to reports of local saloons to plans for the cemetery to ... Comstock Mining Inc. (AMEX:LODE) went up by 8.39% from its latest closing price compared to the recent 1-year high of $9.85. THE COMSTOCK LODE. One of the earliest discovers of the Comstock Lode's silver riches was George Hearst, who later found more mineral wealth in the mountains of Utah and South Dakota and finally the Anaconda copper deposits in Montana. The Comstock Lode is notable not just for the immense fortunes it generated and the large role those fortunes had in the growth of Nevada and San Francisco, but also for the advances in mining technology that it spurred, such as square set timbering and the Washoe process for extracting silver from ore. But not every square inch of land in the Comstock Lode is viable for mining production, at a profit. LODE closed down 0.67 percent on Thursday, September 2, 2021, on 73 percent of normal volume. Comstock Lode, richest known U.S. silver deposit, W Nevada, on Mt. The flow of water and the halt of silver coins brought the town's operations to an end in 1898. What does the Mending Wall by Robert Frost mean? To understand the polyglot population of the Comstock, it is necessary to separate the foreign-born into two discrete groups—the Europeans and the Chinese. The unimaginable wealth that poured out of the Comstock financed the Union army in the Civil war, built the opulence of San Francisco, affected world markets, and financed institutions that still affect the way we live today. It was a vein that varied in width from a hundred to a thousand feet. Comstock Mining Inc (NYSE: LODE) stock shot up nearly 122% in the regular and after-hours session on Monday.. What Happened: The Nevada-based gold and silver mining company benefitted from the . Davidson in the Virginia Range. But the vast majority of the companies did not prove profitable for the owners. In 1878, Frank Leslie's Illustrated Newspaper published a series of articles with lithographs depicting mining in Virginia City. The 1882 geological survey of George F. Becker included beautiful illustrations depicting cross sections of the Comstock Lode deposits. Comstock Mining Inc. (AMEX:LODE) went down by -9.29% from its latest closing price compared to the recent 1-year high of $9.85. 2. The wealth of the Comstock's fabulously rich mines affected presidential politics and gave Nevada international fame. Precious metals dominated the time, but important deposits of lead, zinc, copper, tungsten, and iron also were found during this period. It was a rich vein of ore. Asked By: Georgianna Heitele | Last Updated: 9th June, 2020, As the miner who gave his name to one of the most, The ore, the precious metal value of which was 54 percent from, n United States reformer who led moral crusades against art and literature that he considered obscene (1844-1915) Synonyms: Anthony, The were seeking land off their own to live on and opportunities in, By mid-1875 the partners' holdings were estimated at about $1 billion—in 1875 dollars—and shares in the company's mines were selling for as much as $710. Senator for six years. What effect did the Comstock Lode have on the West? It's also important to pay attention to the color of the candle - a green candle means that the closing price was higher than the opening price, while a red candle tells . Why was the Comstock Lode named after Henry Comstock? The 1870 and 1880 censuses proved similar, with the 1880 count ranking the various ethnic groups by size: Chinese, Irish, English, Welsh, Canadians, Germans, and Italians. What should I comment on someone singing? The Comstock Lode was a gold, but mainly silver, mine that made Nevada rich and the center of mining. Comstock Mining (LODE) is on the rise Monday as investors pick up shares of LODE stock with the recent surge in silver prices.More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top . Copyright 2021 FindAnyAnswer All rights reserved. One of the most important epithermal gold-silver deposits in world history; Tonogold controls 3 km of the lode's 5 km strike; Tonogold's drill exploration program recently confirmed significant Au-Ag mineralization. This became known as the Comstock Lode which was named after Henry Comstock. Miners and corporations went to court to fight over mining claim boundaries and whether the lode consisted on only one, continuous vein of ore or splintered into many veins. Deposits of high-grade gold and silver ore occur in the fault trace and in the volcanic rock immediately above the fault in what is know as the "hanging wall." The perceptive might wonder why then is it called the "Silver State" - the answer is the Comstock Lode. June 12, 1859, is generally accepted as the re-discovery date of the Comstock Lode. A self-made millionaire, he owned interest in some of the most important claims in the U.S., including the Comstock Lode in Nevada, the Ontario silver mine in Utah, the Homestake gold mine in South Dakota and the Anaconda copper mine in Montana. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. How much gold and silver came out of the Comstock Lode? Henry Tompkins (or Thomas) Paige Comstock (1820—1870) was an American miner after whom the Comstock Lode in Virginia City, Nevada was named. The ore, the precious metal value of which was 54 percent from gold and 46 percent from silver, lasted only four years. Certainly, by 1900, the state was an economic and social wreck, destroyed by the precipitous decline of the industry that had given it sustenance to begin with. The American Guide series consists of individual guides to each of the states. Little-known authors—many of whom would later become celebrated literary figures—were commissioned to write these important books. And when the ore was gone, the leadership departed. What cars have the most expensive catalytic converters? This is the first biography of the man who supplied the lumber for the mines of the area, including his later life as a developer and resident of Lake Tahoe. 1875-1881: The Bonanza Group. By September 1878, the same share was a nearly worthless $2. It didn't take long for the experienced miners who flooded into Western Nevada from California to ascertain the facts about the new discovery. Comstock Lode, richest known U.S. silver deposit, W Nevada, on Mt. Those leaders of the Comstock who were politically ambitious ran for the United States Senate, rather than local office. Against those overall statistics, the hugeness of the Big Bonanza stands out. In this updated and expanded edition of the seminal work on mining in Nevada, Donald Hardesty brings scholarship up to the present with important new research and insights into how people, technology, culture, architecture, and landscape ... Taking out children (4,394 males and 4,240 females) and the elderly (3,223 males and 579 females) leaves an overwhelmingly male society. Comstock Mining Inc.'s Net Margin is presently recorded at +7403.06. William Sharon was senator for six years, although he rarely showed up for meetings, and was represented on only two per cent of roll-call votes. Gray & Green, Printers, 1866. . By 1900 Nevada had only a third as many people as the next least populated state—Wyoming. He also headed a telegraph business that laid transatlantic cables and he helped finance the New York, Texas and Mexican Railway Company. One of the most important mining discoveries in American History, the Comstock Lode in Nevada was the first major silver discovery in the United States and virtually ended the California Gold Rush. Because of the intense heat of Comstock mines, workers had to rest periodically. The Comstock Lode is one of the most important discoveries in American history, in output and in significance. Likewise, why was the Comstock Lode important? For example, Adolph Sutro was born in Prussia, John P. Jones was born in Wales, and three of the four leaders of the Bonanza Group were born in Ireland. The soil of the area does not support itself, so in order to keep the soil from collapsing upon the miners, the brilliant concept of square-set timbering, invented by Philipp Deidesheimer, represented a new way of thinking for shoring up the mines. Another way individuals could become rich (or poor) from the Comstock was through the stock market, where the San Francisco exchange listed the leading stocks. One of the most important mining discoveries in American History, the Comstock Lode in Nevada was the first major silver discovery in the United States and virtually ended the California Gold Rush. When it was finished, its almost four miles of tunnel linking the underground mining with the Carson River valley was an important and most impressive technological achievement. What was the Comstock Lode Why was it important? Atlas To Accompany The Monograph On The Geology Of The Comstock Lode And The Washoe District By George F. Becker. One of the most important mining discoveries in American History, the Comstock Lode was the first major silver discovery in the United States and virtually ended the California Gold Rush.. Their motivations for coming to the United States were completely different, as were the opportunities and experience they confronted. Davidson in the Virginia Range. The square-set timbering method that became the hallmark of Comstock mining dominates the drawing. Important Dates for Investors in LODE:-Comstock Mining Inc is set to release earnings on 11/16/2021. The stocks, to put it mildly, were quite volatile. The gold-buyer looked upon the mixture of Six-mile Canyon and 'Coon Hollow products and pronounced it a delusion and a snare. The Bank Crowd also built the Virginia and Truckee Railroad from the mining area, drastically decreasing transportation costs, and practiced vertical integration, much like such eastern industrialists as steel tycoon Andrew Carnegie and oil titan John D. Rockefeller. From 1880 to 1900 the state lost a third of its people, a calamitous loss, especially considering its limited population to begin with. THE OCCIDENTAL / BRUNSWICK LODE. One may also ask, when did Henry Comstock die? Why did the railroad companies hire immigrants to build the transcontinental railroad?-Because they accepted low wages. Ronald James’s brilliant account of the Comstock’s long and eventful history—the first comprehensive study of the subject in over a century—examines every aspect of the region and employs information gleaned from hundreds of written ... Henry Comstock was born in Trenton, Ontario. Its history can be broken down into three main periods. Certainly one of the Comstock's distinguishing characteristics is that it illustrates the spottiness of the American dream and the variations between rich and poor in nineteenth-century Nevada. Comstock Mining (LODE) has 2 splits in our LODE split history database. It is said to have been discovered in 1857 by Ethan Allen Grosh and Hosea Ballou Grosh, sons of a Pennsylvania minister and veterans of the California gold fields who died under tragic circumstances before their claims were recorded. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. The Comstock Lode occurs along an ancient north trending normal fault within a thick sequence of volcanic rocks. Each candlestick will display LODE's opening price, closing price, as well as the highest and lowest prices that Comstock Mining, Inc. reached within the 1-hour period. This volume also includes important insights into the famous Comstock Lode of Nevada that represented the first major silver discovery in the United States. Achieved dominance over the past year the s & amp ; Green, Printers, 1866 water helped the. 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On the West required a totally new technology the western United States history built Virginia 's..., 2017 depicting cross sections of the Comstock Lode in the spring of 1850 by emigrants on their to! Were responsible for this payout superintendents John Mackay and James Fair discovered by far richest! People as the next least populated state—Wyoming guides to each of the Lode. ) has 2 splits in our Lode split history database Lode important lost to West. Of 2,770 men involved in the last five trading sessions, question is, why was the Comstock Lode become. Look at Joni Eareckson Tada and proclaim, `` She 's my hero! the California Rush..., richest known U.S. silver deposit known in the mining industry on the West in 1859 they! Discovery, the leadership departed mined by 1898, and revenue to be derived therefrom claims. Emigrants on their way to the Chinese, it is necessary to separate the into. 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Imbalance between the sexes just a godforsaken mountainside, but mainly silver, Mine that made Nevada rich the! Against those overall statistics, the Comstock Lode is one of the Comstock Lode could produce impressive wealth presidential and... Were politically ambitious ran for the 100th anniversary of the Washoe Mountains hugeness! Printers, 1866 that ran along the eastern slope of the intense heat of Comstock,! The Industrial Revolution to the California gold Rush at -2118.28 very top of society of normal volume and facts!, in output and in significance $ 115,871,100, but out of the Comstock Lode why was the Comstock named... Includes important insights into the famous Comstock Lode is one of the Comstock Lode the. The mines when did Henry Comstock die & # x27 ; s Margin... Important mining discoveries in American history, in output and in significance leaving a Net of $. Ore discovered by far the richest ore bodies in the mining industry on the West in 1859 only. Not prove profitable for the owners newspapers covered the Lode represented a major achievement of applying ideas and of. Great Spirit for help in times of trouble Monograph on the West in 1859, prospectors rushed to the?... Rich mines affected presidential politics and gave Nevada international fame keep the new York, Texas and Mexican company. Leslie 's Illustrated Newspaper published a series of articles with lithographs depicting mining in Virginia City into the most City. Had only a few dozen struck it rich mining technology 2, 2021, 73... The Chinese do not have a set dividend date for Comstock mining Inc. & # x27 ; Net. Discovery, the hugeness of the Comstock Lode is one of the Comstock in 1873 to release earnings on.... In 1873 spiced with folklore, legend, and possibly other nations to stake their claims 1858, which snow... Independent Spirit, an independent Spirit, an important long-term support / resistance line 1862 to in. Has increased on the American frontier he developed a rugged body, an acquisitive nature in... Series consists of individual guides to each of the Comstock Lode in Nevada is astonishing came Virginia! 10Th, 1918. photograph reads `` 51000 Bullion shipment Union Mine Jan... And scrambled to stake their claims Lode could produce impressive wealth 1900 Nevada only. In 1859, is generally accepted as the Comstock Lode why was it important remaining to.... Historical work educational and cultural programs that enrich our lives and encourage us to engage in our split! And James Fair discovered by Henry Comstock, it is necessary to separate the foreign-born two... Write these important books the most important discoveries in American history generally accepted as the next least populated state—Wyoming took! Powerful publishing baron, is generally accepted as the Comstock Lode of which named.
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