Crown Chartered Gold Mining Co. of Porcupine Lake (Limited) - Porcupine Vignette Stock CertificateInv# MS2403 Stock
Stock printed by Globe Litho. Co., N.Y. Ontario, Canada. Unique Vignette! Please specify color.
Timmins (// TIM-ins) is a city in northeastern Ontario, Canada, located on the Mattagami River. The city is the fourth-largest city in the Northeastern Ontario region with a population of 41,788 (2016). The city's economy is based on natural resource extraction and is supported by industries related to lumbering and to the mining of gold, zinc, copper, nickel and silver. Timmins serves as a regional service and distribution centre. The city has a large Francophone community, with more than 50% bilingual in French and English.
Research performed by archaeologists indicate that human settlement in the area is at least 6,000 years old; it's believed the oldest traces found are from a nomadic people of the Shield Archaic culture.
Up until contact with settlers, the land belonged to the Mattagami First Nation peoples. Treaty Number Nine of 1906 pushed this tribe to the north side of the Mattagami Lake, the site of a Hudson's Bay trading post first established in 1794. In the 1950s, the reserve was relocated to the south side of the lake, to its present-day location.
Gold discoveries in the Porcupine Camp during the early years of the 20th Century attracted investors to the area.
According to local folklore, on June 9, 1909, Harry Preston slipped on a rocky knoll and the heels of his boots stripped the moss to reveal a large vein of gold, which later became the Dome Mine. Another theory on how gold was discovered in the Timmins region is that an Indigenous man led Harry Preston to the location where he knew gold would be found. These, however, are only folklore commonly known by citizens of Timmins. A historically accurate account of the very first gold discovery in the area remains unknown.
On October 9, 1909, Benny Hollinger discovered the gold-bearing quartz dike that later became known as the Hollinger Mines. Brothers Noah Timmins and Henry Timmins bought Benny Hollinger's share from him, thus partnering with Hollinger's employers, the McMartin brothers.
Hollinger Mines was incorporated in 1910 with five equal partners consisting of former Mattawa, Ontario, shopkeeper brothers, Noah and Henry Timmins; Duncan and John McMartin, also brothers; and Mattawa attorney David Alexander Dunlapes (1863–1924).
In November 1912, 1,200 members of the Western Federation of Miners Local 145 held a strike at all three mines in response to a proposal to lower their wages. Mine operators hired gun thugs, who fired on the picket line and were ordered out by the provincial government. After months without work, many men chose to leave the settlement; only 500 miners returned to work in July 1913. The strike won the men a nine-hour workday and a pay increase.
The Great Depression did not adversely affect the economy of the area, and jobs were available in mining and lumber.
The gold mines declined in the 1950s.
The area became home to dozens of prospectors during the "Porcupine Gold Rush", who explored the areas around Porcupine Lake and the Frederick House River. Rich ore deposits in the Canadian Shield led to Timmins being founded as a company town to house Hollinger employees. In 1912, mine manager Alphonse "Al" Paré named the mining settlement for his uncle, Noah Timmins, who was President of Hollinger Mines. Most settlers grouped around Porcupine Lake and the Dome, one mile from the lake. Four miles down the road, around the McIntyre Mine, the hamlet of Schumacher was established.
The rail system that began to operate around Timmins in 1911 accelerated the growth of the camp. That same year, two days after the first train arrived in the Porcupine, the entire camp was destroyed in the fire of 1911, although the area was rebuilt within two months.
In 1917, a dam was built at Kenogamissi Falls, downriver from Mattagami Lake, to provide power for the Timmins-Porcupine mining camp; Mattagami Lake was consequently flooded.
In 1973, 35 townships covering 1,260 square mile, including Porcupine, South Porcupine, Schumacher, and Timmins were organized into the City of Timmins.
In the 1990s, the City of Timmins became a regional service and distribution centre for Northeastern Ontario.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.