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1910s Ambergris Mines Company

 

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Stock Code AMC1910

  Unissued certificate number 705 from c. 1916 in this mining company which operated out of Idaho. Vignette of the Idaho capital building at the top of the certificate. Ornate brown border together with the seal of the company

Certificate size is 27 cm high x 21 cm wide (11.5" x 8.5").

About This Company

Framed Certificate Price : 75.00

Certificate Only Price : 30.00

 

A perfect personalised gift for someone who:

  • works or worked in the mining industry

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About This Company

In 1901 John King, Jack "Yellow Dog" Smith and E.M. Gilpin located the Ambergris group of claims in the Lelande Mining District, Shoshone County, Idaho. In 1902, to manage these claims, the partners secured a Washington State charter for the Ambergris Mining Co., with offices in Spokane. The first stock was issued on Oct. 25, 1902. The original stockholders included Gilpin's uncle, W.B. Heyburn, later United States senator from Idaho. The Ambergris Mining Co. owned the Ajax, Ambergris, Anaconda, Goffy Jack, Rattler, and Wellington Lodes, all situated in the Lelande and Placer Districts in Shoshone County.

The founders were soon superseded by W. Clayton Miller, Alfred Page, John P. Gray, A.C. Cogswell, and F.D. Allen. These were the company's trustees by 1908 when the Ambergris Mining Company settled a long-standing against the Hercules Mining Co. over conflicting claims. This suit had at one time seen the Ambergris represented by Heyburn while the Hercules was defended by William E. Borah who also later became United States senator from Idaho. The agreement of April 10, 1908 in part required the Hercules to allow the working of the Ambergris mine through a tunnel driven from its own property while the Ambergris company was to deliver 1,516,000 new shares to Harry Day as trustee for the Hercules partners. The new stock, issued on January 3, 1909 gave the Hercules partners majority control of the Ambergris. On March 6, 1909 Harry and Eugene Day and August Paulsen took their places on the Ambergris Board of Trustees.

As agreed, the Hercules extended one of its tunnels into the Ambergris ground, but for a number of years thereafter the property sat idle because there were no funds for development. As a Washington State corporation, the Ambergris Mining Company could not levy assessments against its capital stock. To remedy this problem, on June 20, 1916, The Ambergris Mining Co. was reorganized as the Ambergris Mines Co., chartered in the state of Idaho and headquartered in Wallace. The company levied four assessments between 1917 and 1923 to provide working capital.

The Ambergris Mines Co. was in its turn reorganized into the Ambergris Consolidated Mining Company in 1928, as part of a merger of the holdings of Ambergris Mines Co., Honolulu Mining Co., and Guelph Mining and Milling Co. The Ambergris continued to be worked through the Hercules No. 5 tunnel. With its property transferred to the new conglomerate, the old Ambergris Mines Company was dissolved on April 3, 1929.

The Ambergris Consolidated Mining Co. existed from 1928 until 1939, when the shareholders approved the sale of all the property and debts of the corporation to the Hercules Mining Co. for $21,500.00. The final liquidation dividend provided one and one-half cents per share on the capital stock. Thereafter the company was dissolved.

Source: www.lib.uidaho.edu

 

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