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Normal 0 false false false EN-US X-NONE X-NONE Up for consideration is The Comstock Tunnel Company stock certificate from 1912: #29128 Issued to Arthur Lipper & Co. for 100 shares on August 28, 1912 Signed by Amory F. Cushman as president Incorporated in New York Printer: Homer Lee Bank Note Company, New York Capital stock of $4,000,000 Uncancelled Certificate in good condition The Comstock Tunnel Company was the reorganization name for the famous Sutro Tunnel Company. The Sutro Tunnel was a drainage tunnel connected to the Comstock Lode in Northern Nevada (The Comstock Lode is an area of silver-rich ore veins near Virginia City that became the first major discovery of silver ore in the U. S. in 1859, which created a silver rush that lasted into the 20th century.). The Comstock Lode begins at Virginia City and empties approximately 6 miles southeast near the town of Dayton. The tunnel was first envisioned by Adolph Sutro in 1860 who promoted the drainage tunnel in order to allow access to deeper mineral exploration in the Comstock; mine flooding and inadequate pumps had inhibited some exploration activities up to that time. By 1865, Sutro’s idea had gained the approval of state and federal legislation. The U. S. Congress granted the Sutro Tunnel Company an exclusive charter on July 25, 1866. The charter gave Sutro the right to purchase public land at $1.25 per acre to use for construction of the tunnel, and $5.00 per acre for land within 2,000 feet of the tunnel which contained mineral veins and lodes. Sutro formed the Sutro Tunnel Company, selling stock certificates to raise funds for its construction, which began in 1869. The main tunnel was completed in 1878. By that time, however, the Comstock mine had gone deeper, using newer improved pumps, and was also thinning out. Upon completion, Adolph Sutro immediately sold his interest in the tunnel company and moved to San Francisco, later becoming mayor of that city. Many of the old stockholders formed a new company called the Comstock Tunnel Company and took over the property. Theodore Sutro, brother of Adolph Sutro, became the President. The Comstock Tunnel and Drainage Company (Virginia City, Nevada) was organized in 1919 as a successor to the Comstock Tunnel Company. The tunnel was in use for fifty years and was a great success as a means of draining hot groundwater from the mines. The Sutro Tunnel pioneered the excavation of large drainage and access tunnels in the U. S.
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