Unrestricted. Please credit California State Library.
Description
The first incorporated company on the Royal property was the Royal Mining Co. in the mid 1880's. In 1893 the company name changed to the Royal Consolidated Mining Co., with 8 miners and 5 mill men. Lawsuits closed the mine during the period 1895-1905, but by 1903 the company had enlarged its stamp mills to 120 stamps. In 1907, the mine was refinanced and Frank Tower, who had a ranch nearby became associated with the Royal Mine. In 1914, in association with E.A. Fordyce, he rehabilitated the underground shafts and mill. Tower and Fordyce incorporated a new company called the Royal Gold Mines Company. Production began in 1915. Forty stamps were put into use with production planned at 190 tons per day. Mint and smelter returns were sent to Fordyce in Boston and money was remitted to the Royal from Boston averaging $3500.00 per month. Reserves were estimated at 5 million tons of $3.00 per ton ore. The Royal Mine also ran a general store, hotel (Royal Hotel), and other businesses. Revenue for these other businesses supported the mining operation. In 1920, the mine sought funding by the Oro Fina Mining Company of Auburn, California, but financial troubles began in 1922 as the ratio of silver ore to gold ore increased as the mine went deeper. Fordyce continued to fund the mine through 1927, but active records end that year as the mine scaled back to much lower production. The Royal Mine continued during the 30's on limited funding. Records in this collection cease during the period 1932-35. (See also the detailed auction report LLC #33 in the provenance folder.) Files from the c. 1914-1935 period of the Royal Mine at Hodson, Calaveras County, California. Contains detailed correspondence between Frank Tower, rancher, and E. A. Fordyce, Boston investment firm head. Detailed business ledgers regarding the Royal Mine, c.1898-1935, including payrolls, receipts and disbursements, also in contents. Also business correspondence, company files, banking records, account books, day books, journals, maps, and tax records. Files A through G, 1914-1917 appear to be missing. Beginning around 1919, the filing system changed from alphabetical to chronological. There are missing years between 1927 and 1932 and between 1905 and 1914. Royal Mine. Unrestricted. Please credit California State Library. California State Library, California History Section;
Type
text
Extent
33 manuscript boxes ; 15 1/4 x 11 3/4 x 3 in.
Identifier
(C)001642544CSL01-Aleph (OCoLC)1083361204
Language
English
Subject
Royal Mine Oro-Fina Mining Company Gold mines and mining--California--Calaveras County
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