Tombstone Consolidated Mines Co., Limited - 1902 dated $1,000 Arizona Mining Bond
Inv# MB5066 Bond
$1,000 Tombstone Mining Bond, "Tombstone" Includes 20 installment coupons.
Formed in 1900, the Tombstone Consolidated Mines Co., Limited, was established to consolidate major silver mining properties in Tombstone, Arizona. This consolidation aimed to enable large-scale, deeper mining operations below the water table. However, the company faced intense groundwater flooding at around 500-600 feet, which had previously hindered profitable operations. In response, the company installed powerful, modern pumps in 1901, successfully dewatering the mines to approximately 1,000 feet and reviving production in the thriving yet challenging district.
Despite these achievements, the endeavor encountered significant financial and technical challenges. Falling silver prices and high maintenance costs for the massive pumping machinery posed substantial obstacles. Ultimately, the company, which had previously dominated the district’s operations, collapsed in 1911 when its pumping system failed, leading to the flooding of the mines once again. By 1918, the era of deep mining came to an end, and most operations were taken over by smaller-scale lessees who focused on shallower, remaining deposits. The company’s efforts represent a pivotal moment in Arizona’s mining history, highlighting the ongoing struggle between technological advancements and environmental challenges.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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